annual report ISO 9001 : 2000 ISO : 2004

000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 0 0 0 0annual 00000000000000000000000000000000000 000000000000000000000000000000000000000 0 0 0 0 0 0report 000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 ISO 9001 : 2000 ISO 14001 : 2004

000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 0 0 0 0Daftar 0 0 0 0 0 0of0Contents 0000000000000000000000000000 0 0 0 0 0 0 0Isi0Table 0000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 01

Visi, Misi, Nilai-nilai dan Kebijakan Mutu Perusahaan Vision, Mission, Values and the

Company’s Quality Policies

03

Ikhtisar Keuangan Financial Highlights

Komisaris President Commissioner’s Report Report

08

04

Laporan Presiden

Laporan Presiden Direktur President Director’s

13 Profil Perseroan Company Profile 20 Ikhtisar Mengenai Saham Summary on Shares

21 Tata Kelola Perusahaan yang Baik Good Corporate Governance 32 Laporan Komite Audit

Audit Committee’s Report and Review

36 Analisis dan Pembahasan Manajemen Management Analysis

46 Struktur Organisasi Organizational Structure 47 Lembar Persetujuan Dewan

Komisaris dan Dewan Direksi Approval of the Board of Commissioners and the Board of Directors

49 Laporan Auditor Auditor’s Report

Visi, Misi, Nilai-Nilai dan Kebijakan Perusahaan Vision, Mission, Values and The Company’s Quality Policies

Visi Menjadikan PT Jembo Cable Company Tbk. sebagai produsen yang terdepan dalam industri kawat dan kabel : • Reputasi yang sangat baik. • Posisi keuangan yang sehat. • Lingkungan kerja yang sehat. • Pengembangan yang berkesinambungan. Misi Menjadikan seluruh mitra usaha kita sebagai pemenang, antara lain : • Pelanggan kita, • Karyawan kita, • Penyalur, agen dan pemasok kita, • Pemegang saham kita. Memberi peluang kepada karyawan untuk menjadi unggul sehingga berdampak baik bagi pertumbuhan Perusahaan. • Dengan meletakkan dasar yang baik dan kuat sehingga memungkinkan karyawan untuk meraih target mereka sesuai dengan kemampuannya.

Vision PT Jembo Cable Company Tbk. to be the leading manufacturer in Cable & Wire industry • Outstanding reputation. • Healthy financial standing. • Healthy work environment. • Continually improving. Mission To make all of our business partners win, i.e. • Our customers, • Our employees, • Our agents, distributors and suppliers, • Our stakeholders. To provide opportunities for our people to excel and hence make the company grow. • By laying a good and strong foundation enabling our people to reach to their potential.

01

000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 Nilai-Nilai • Memberikan nilai tambah dari apapun yang kita kerjakan. • Pelanggan adalah pusat sasaran dari seluruh yang kita kerjakan. • Pengembangan yang berkesinambungan merupakan kunci sukses kita. • Setiap orang, tanpa pengecualian, terlibat, diberdayakan dan kontribusi mereka diakui serta prestasi mereka dihargai. • Kami bertanggung jawab terhadap komunitas di tempat tinggal kita dan masyarakat dunia. • Menjadikan PT Jembo Cable Company Tbk. tempat bekerja yang baik, menyenangkan, aman dan sehat. Kita bekerja sebagai kelompok di dalam lingkungan yang saling mempercayai, menghormati menghargai, jujur dan adil.

Kebijakan Mutu • PT Jembo Cable Company Tbk. berusaha untuk menjadi produsen yang terdepan dalam industri kawat dan kabel di Indonesia. • Kami bertekad untuk memproduksi produk yang sesuai dengan kebutuhan dan persyaratan yang diinginkan oleh pelanggan. • Setiap orang terlibat, bermotivasi dan berpengetahuan untuk membuat kemajuan yang berkesinambungan dalam rangka menuju pencapaian prestasi yang luar biasa.

Values • Adding value in everything we do. • Customers are the focus of everything we do. • Continual improvement is the key to our success. • Everybody, no exception, is involved and empowered – Each contribution and accomplishment is recognized and rewarded. • We are responsible to the communities in which we live and work and to the world community as well. • Make PT Jembo Cable Company Tbk. a great, fun, safe and healthy place to work – We work as a team in an environment of mutual trust, honest, respect, fair and dignity.

Quality Policy • PT Jembo Cable Company Tbk. strives to be the leading manufacturer in the cable and wire industry in Indonesia. • We are committed to deliver product meeting customer’s requirements. • Everyone is involved, motivated and knowledgeable to make continual progress forwards achieving excellence.

02

Ikhtisar Keuangan Financial Highlights

Dalam Miliar Rupiah | In Billion Rupiahs

2004

2005

2006

2007

2008

151,2

151,2

151,2

151,2

151,2

75,6

75,6

75,6

75,6

75,6

Aset Lancar Current Assets Investasi Saham Shares Investment Aset Tetap Fixed Assets Aset lain-lain Other Assets Jumlah Aset Total Assets

195,7 0,9 96,2 9,2 302,0

219,0 1,0 95,0 7,7 322,7

251,2 1,0 99,7 10,7 362,6

363,5 1,6 93,9 11,5 470,5

558,9 1,5 90,1 22,9 673,4

Kewajiban Lancar Current Liability Kewajiban Tidak Lancar Non-Current Liability Ekuitas Equity Jumlah Kewajiban & Ekuitas Total Liability & Equity

205,1 31,9 65,0 302,0

236,6 22,8 63,0 322,7

266,3 32,8 63,5 362,6

359,8 23,4 87,3 470,5

568,5 17,7 87,2 673,4

360,9 311,0 49,9 12,4 0,9 6

428,1 370,3 57,8 15,7 (2,0) (14)

448,0 401,0 47,0 10,6 0,6 4

735,6 634,5 101,1 51,1 22,9 152

1131,1 1026,6 104,5 55,4 0,08 0,52

%

%

%

%

%

0,3

(0,6)

0,2

4,9

-

1,4

(3,2)

0,9

26,2

-

96,0 364,0

93,0 411,0

94,3 471,0

101 438,9

154 672,3

78,0

80,0

82,5

81,4

87

21,5

19,6

17,5

18,6

12,9

14,0

13,0

10,5

13,7

9,2

3,4

3,7

2,4

6,9

4,9

0,2

(0,5)

0,1

3,1

-

(Kecuali jumlah Saham yang beredar dan laba bersih per saham) (Except for Shares in circulation and net profit per share)

Permodalan Capital Jumlah Saham yang beredar (dalam juta lembar) Number of Shares in Circulation Modal Saham Share Capital Posisi Keuangan Financial Position

Hasil Usaha Operational Results Penjualan Bersih Net Sales Beban Pokok Penjualan Cost of Good Sold Laba (Rugi) Kotor Gross Profit (Loss) Laba (Rugi) dari Usaha Operating Profit (Loss) Laba (Rugi) Bersih Net Profit (Loss) Laba (Rugi) Bersih per Saham (dalam rupiah penuh) Net Profit (Loss) per Share (in full rupiah) Rasio-Rasio Keuangan Financial Ratios Laba (Rugi) Bersih / Jumlah Aset Net Profit (Loss) / Total Assets Laba (Rugi) Bersih / Modal Sendiri Net Profit (Loss) / Equity Rasio Lancar Current Ratio Kewajiban / Modal Sendiri Liability / Equity Capital Kewajiban / Jumlah Aset Liability / Total Assets Ekuitas / Jumlah Aset Equity / Total Assets Laba Kotor / Penjualan Bersih Gross Profit / Net Sales Laba (Rugi) Usaha / Penjualan Bersih Operating Profit (Loss) / Net Sales Laba (Rugi) Bersih / Penjualan Bersih Net Profit (Loss) / Net Sales

03

Laporan Dewan Komisaris Message of the Board of Commissioners

Para Pemegang Saham yang terhormat, Kiranya tidaklah berlebihan bila kami panjatkan puji dan syukur kepada Tuhan Yang Maha Esa, yang oleh karena anugrah-Nya, telah menghantarkan PT Jembo Cable Company Tbk. melewati tahun 2008. Dewan Komisaris telah meneliti dan menyetujui Laporan Keuangan Konsolidasi Perseroan tahun 2008 yang telah diaudit oleh Kantor Akuntan Publik Tanubrata Sutanto & Rekan, dengan pendapat ”Wajar Tanpa Pengecualian”. Dan untuk itu kami sangat menghargai kerja keras yang telah dilakukan oleh jajaran Direksi dalam upaya meningkatkan pertumbuhan Perseroan, serta menjaga konsistensi pengelolaan Perseroan agar tetap searah dengan tekad penerapan Tata Kelola Peruasahaan yang baik. Bila dibandingkan dengan tahun 2007, penjualan konsolidasi Perseroan tahun 2008 mengalami peningkatan sebesar Rp395,5 miliar atau sekitar 53,8%, dari Rp735,6 miliar pada tahun 2007 menjadi Rp1.131,1 miliar pada tahun 2008. Namun peningkatan penjualan tersebut tidak diikuti oleh peningkatan laba bersih setelah pajak. Pada tahun 2008 Perseroan hanya membukukan laba bersih setelah pajak sebesar Rp0,08 miliar, hal ini lebih banyak disebabkan oleh kerugian selisih valuta asing.

Dear Shareholders, We have to thank the Lord Almighty, as it is only because of His grace that PT Jembo Cable Company Tbk. was able to pass the year 2008. The Board of Commissioners has studied and approved the Consolidated Financial Statements of the Company for 2008, audited by the Accountant Public Office of Tanubrata Sutanto & Partners, with an “Unqualified Opinion Without Exception”. We highly appreciate the hard work of the Board of Directors in their efforts to improve the Company’s growth, and constantly maintaining the management of Company in compliance with the commitment to maintain Good Corporate Governance. Compared to 2007, the Company’s consolidated sales in 2008 underwent an increase of Rp.395.5 billion or circa 53.8% from Rp.735.6 billion in 2007 to become Rp.1, 131.1 billion in 2008. This increase in sales was, however, not followed by increase in net profit after tax. In 2008 the Company only booked a net profit after tax of Rp.0, 08 billion, this was mainly due to losses in the translation of foreign exchange.

04

000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 Walaupun perjalanan di tahun 2009 masih akan dibayang-bayangi oleh krisis global, tetapi secara umum peningkatan angka penjualan konsolidasi Perseroan yang disampaikan oleh Direksi, merupakan hal positif yang menunjukan adanya peluang besar yang menjanjikan bagi prospek Perseroan dimasa mendatang. Karena kebutuhan kabel masih akan terus meningkat seiring dengan pembangunan di berbagai belahan dunia. Namun demikian Perseroan juga harus dapat mempertahankan hasil yang telah dicapai dan terus meningkatkannya demi mencapai hasil yang maksimal pada waktu mendatang.

Guna terus meningkatkan kinerja Perseroan, Dewan Komisaris meminta kepada jajaran Direksi untuk lebih meningkatkan pengawasan dalam menjalankan Perseroan, memperhatikan risiko yang mungkin timbul akibat dari operasional, dan mempersiapkan langkah-langkah antisipasinya. Hal lain yang tidak kalah penting adalah mempersiapkan langkah-langkah strategis terutama dalam menghadapi dampak dari pasar global serta gelombang krisis global yang hampir dapat dipastikan akan menimbulkan persaingan yang semakin ketat. Dalam melaksanakan tugas, Dewan Komisaris dibantu oleh Komite Audit yang melakukan fungsi pengawasan terhadap jalannya Perseroan dalam rangka menjaga agar pengelolaan Perseroan tetap sejalan dengan peraturan perundang-undangan yang berlaku serta memenuhi ketentuan tata kelola perusahaan yang baik.

Although performance in 2009 shall still be overshadowed by the global crisis, in general the improvement of the Company’s consolidated sales rate submitted by the Board of Directors, still shows a positive great opportunity for the Company’s prospect in the coming years. This is due to the fact that the need for cable shall continuously increase in line with the development in various parts of the world. Therefore the Company has to maintain its achievement and constantly improve it for a maximal result in the years ahead. To constantly improve the Conpany’s performance, the Board of Commissioners has requested the Board of Directors to consistently improve supervision of the Company’s activities, pay attention to risks arising from operational and steps in anticipating such incident. A not lesser important matter is preparing strategical steps especially in anticipating the impact of the global market and the waves of the global crisis, which will surely cause a more stringent competition.

In executing its tasks, the Board of Commissioners is assisted by the Audit Committee carrying out supervision functions on the operation of the Company in the framework of maintaining the Company’s management to be in line with prevailing laws and regulation and comply to good corporate governance.

05

000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 Pada akhirnya, Dewan Komisaris mengucapkan terima kasih kepada para Pemegang Saham, Pelanggan, mitra kerja dan semua pihak yang telah memberikan dukungan serta kepercayaan bagi usaha peningkatan kinerja Perseroan. Dan kiranya Tuhan senantiasa memberkati kita semua.

As a closing remark the Board of Commissioners wish to convey their thanks to all Shareholders and all parties who have given their support and trust to the Company in improving its performance. May God bless us all.

Tangerang, April 2009

Drs. IGM. Putera Astaman Presiden Komisaris & Komisaris Independen President Commissioner & Independent Commissioner

06

Profil Dewan Komisaris Profile of the Board of Commissioners

Drs. I Gusti Made Putera Astaman Presiden Komisaris & Komisaris Independen President Commissioner & Independent Commissioner Beliau adalah Purnawirawan Angkatan Kepolisian Republik Indonesia dengan Pangkat terakhir Mayor Jenderal Polisi. Menjabat sebagai Komisaris Perseroan sejak tahun 1994. Aktif dalam berbagai organisasi di Indonesia. A retired Major General of the Republic of Indonesia Police Force. Has held the position of the Company’s Commissioner since 1994. Still active in several organizations in Indonesia.

Ny. Hauw Ay Lan Komisaris Commissioner Menjabat sebagai Komisaris Perseroan sejak tahun 1977 hingga saat ini. Selain itu beliau merupakan Direktur Utama PT Monas Permata Persada sejak tahun 1992. Held the position of the Company’s Commissioner since 1977 up to the present. She is also the President Director of PT Monas Permata Persada since 1992.

Drs. Andreas S. Soedjijanto MBA, FLMI Komisaris Independen Independent Commissioner Menjabat sebagai Komisaris Independen sejak tahun 2001. Mendapat gelar Master of Business Administration dari BRVB Trisakti. Saat ini beliau menjabat sebagai Direktur PT. Indolife Pensiontama. Held the position of Independent Commissioner since 2001. Obtained a Master of Business Administration from BRVB Trisakti. He is currently also a Director of PT Indolife Pensiontama.

07

Laporan Dewan Direksi report of the Board of Commissioners

Para Pemegang Saham yang terhormat, Puji Syukur kami panjatkan kepada Tuhan yang Maha Esa yang telah melimpahkan rahmat dan anugrah-nya, sehingga kita semua dapat melalui tahun 2008 dengan baik. Tahun 2008 merupakan tahun yang penuh dengan tantangan. Gelombang krisis ekonomi yang mulai melanda dunia khususnya beberapa bulan di penghujung tahun, menimbulkan banyak goncangan bagi dunia usaha. Hal ini selain menjadikan semakin tingginya tingkat persaingan diantara para produsen kabel, juga mempengaruhi nilai tukar US Dollar terhadap Rupiah yang cenderung naik. Beberapa Kebijakan Pemerintah maupun Badan Usaha Milik Negara juga memberi dampak cukup berarti. Namun demikian kondisi tersebut tidak membuat surut semangat Perseroan untuk terus memperbaiki dan meningkatkan pencapaian hasil kinerja yang lebih baik. Meningkatnya permintaan kabel di pasar domestik maupun internasional menjadikan naiknya angka penjualan konsolidasi Perseroan. Dan pada tahun 2008, penjualan konsolidasi Perseroan mengalami peningkatan sebesar Rp395,5 miliar atau sekitar 53,8 %, yaitu dari Rp735,6 miliar pada tahun 2007 menjadi Rp1.131,1 miliar pada tahun 2008. Hasil yang dicapai tersebut berada di atas target yang telah direncanakan yaitu sebesar Rp960 miliar, dan juga merupakan hasil tertinggi dibandingkan dengan penjualan konsolidasi pada tahun-tahun sebelumnya.

Dear Shareholders, We must praise the Lord Almighty for all the grace He has bestowed on us so that we are able to pass the year 2008 in good condition. 2008 was a year full of challenges. The global economic crisis that loomed at the last part of the year left its mark on the business world. Besides tightening the competition between cable producers, it also sent up the exchange rate of the USD against the IDR. Several government policies and also State Owned Enterprises gave a quite significant impact. But all those hurdles did not diminish the Company’s spirit to enhance and improve its previous performances. The increase in cable demand both in the domestic market as well as in the international market was seen in the Company’s increased consolidated sales. In 2008, consolidated sales underwent an increase of Rp.395.5 billion or around 53.8% from Rp.735.6 billion in 2007 to become Rp.1,131.1 billion in 2008. This result was above the target set for 2008 of Rp.960 billion, and was also the highest record compared to the consolidated sales of the previous years.

08

000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 Pada pencapaian akhir tahun 2008, Perseroan membukukan laba bersih sebesar Rp0,08 miliar. Bila dibandingkan dengan tahun 2007, hasil tersebut berada di bawah pencapaian akhir di tahun 2007. Penurunan pencapaian akhir ini sangat dipengaruhi oleh besarnya beban pokok penjualan, serta kerugian selisih kurs yang tinggi. Dan untuk lebih jelasnya, secara rinci gambaran tentang kinerja Perseroan dapat dilihat dalam laporan keuangan konsolidasi Perseroan, yang telah diaudit oleh kantor Akuntan Publik Tanubrata Sutanto & Rekan. Dalam rangka terus memperbaiki kinerja Perseroan, selain menjalankan Peseroan sesuai dengan peraturan atau ketentuan yang berhubungan dengan tata kelola perusahaan yang baik, beberapa langkah maupun kebijakan strategis ditempuh oleh Perseroan, seperti tetap menjalin kerjasama teknik dan pemasaran dengan Fujikura Ltd. dan juga mempertahankan tenaga engineer dari Fujikura - Jepang untuk berada di lingkungan Perseroan selama beberapa waktu. Kemudian guna terus meningkatkan wawasan, pengetahuan dan kinerja personil selain memberikan pelatihan khusus bagi seluruh karyawan melalui lembaga profesional, Perseroan kembali mengirimkan beberapa personil untuk melakukan pelatihan dan studi banding ke Fujikura Federal Cable – Malaysia.

At the end of 2008, the Company booked a net profit of Rp.0, 08 billion. But compared to 2007, such result was still below the end achievement in 2007. This end decrease was highly affected by the high cost of sales, and the difference in the high translation of the USD exchange rate. For a detailed description of the Company’s performance, please refer to the Company’s Consolidated Financial Statement, audited by the Accountant Public Office Tanubrata Sutanto & Partners. In the framework of improving the Company’s performance, besides managing it according to regulations and stipulations related to good corporate governance, several other steps and policies were conducted by the Company, such as maintaining technical cooperation and marketing with Fujikura Ltd. and keeping an engineer personnel from Fujikura– Japan to assist the Company during a certain time. To continually improve the outlook and knowledge of personnel in the field of technique, management and utilization of human resources, the Company also send several personnel for training and comparative study to Fujikura Federal Cable – Malaysia.

09

000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 Perjalanan di tahun 2009, gelombang krisis global tetap akan dihadapi oleh dunia usaha. Dampak yang ditimbulkan dapat membuat tidak menentunya harga komoditi, dan juga dapat menghambat pertumbuhan dunia usaha, sebagai akibat banyaknya badan usaha yang goyah, ataupun menahan diri guna menunggu peluang-peluang terbaik. Namun demikian kami yakin industri perkabelan masih tetap memiliki peluang yang sangat baik, karena selain pasar internasional yang sangat terbuka lebar terutama pada negara-negara berkembang, kebutuhan akan kabel listrik berpenghantar Tembaga maupun Aluminium untuk dalam negeri diperkirakan masih cukup besar, karenanya Pemerintah pasti akan mengambil langkahlangkah positif yang akan mendorong pergerakan dunia usaha, dan juga akan membuka peluang pasar bagi produk kabel. Demikian laporan singkat atas kinerja usaha di tahun 2008. Kami menyadari sepenuhnya bahwa pencapaian yang berhasil diraih pada tahun 2008 merupakan hasil dari kerjasama yang baik, untuk itu perkenankan kami untuk menyampaikan terima kasih yang tak terhingga kepada seluruh Pemegang Saham, Pelanggan, Pemasok, Penyalur dan Karyawan Perseroan serta semua pihak yang telah mempercayai dan memberikan dukungan serta bantuan kepada Perseroan hingga saat ini.

The waves of global crisis shall still be faced by the business world in 2009. Its impact will be fluctuation in commodity prices and a slowdown in the growth of the business world due to the shake –up of many companies, or those withholding themselves and adopting a wait and see. Yet, however, we are sure that the cable industry still has great opportunities, as the international market is still wide open, especially in developing countries, domestically the need for Copper and Aluminium insulated cables is still high, and the Government shall surely take positive steps to boost the business world, and open market opportunities for cable products. That is the brief summary of our performance in 2008. We are fully aware that the success achieved in 2008 was a result of good cooperation, allow us therefore to convey our thanks to all Shareholders, Customers, Suppliers, Distributors and Employees of the Company and all parties who have entrusted us and given us their support up to now.

Tangerang, April 2009

Santoso Presiden Direktur President Director

10

Profil Direksi Profile of the Board of Directors

Santoso Presiden Direktur President Director Beliau merupakan pendiri Perseroan. Menjabat sebagai Presiden Direktur sejak tahun 1973 hingga sekarang ini. Berpengalaman luas dalam dunia bisnis, industri dan perdagangan. One of the founding fathers of the Company. Held the position of President Director since 1973 up to the present. Widely experienced in the business world, trade and industry.

Mary Ang Santoso Direktur Director Menjabat sebagai Direktur Perseroan sejak tahun 2004. Lulusan dari Universitas Columbus, Lousiana, Amerika Serikat, jurusan Industrial Engineering Management, dan dari ICS - Center for Degree Studies, Scranton, Pennsylvania, Amerika Serikat jurusan Business Management. Berpengalaman dalam bidang manajemen produksi selama lebih dari 15 tahun. Held the position of Director since 2004. A graduate of University of Columbus, Louisiana, United States, majoring in Industrial Engineering Management, and from the ICS – Centre for Degree Studies, Scranton, Pennsylvania, United States graduating in the field of Business Management. Experienced in the field of production management for more than 15 years.

Cahayadi Santoso Direktur Director Menjabat sebagai Direktur Perseroan sejak tahun 2004. Lulusan dari Universitas Hosei, Tokyo, Jepang jurusan Commercial. Berpengalaman dalam bidang manajemen pemasaran. Held the position of Director since 2004. Graduated from the University of Hosei, Tokyo, Japan in Commercial. Experienced in marketing management.

11

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Menjabat sebagai Direktur Perseroan sejak tahun 1996, setelah sebelumnya menjabat sebagai Manajer Divisi Akuntansi di Direktorat Keuangan Perseroan. Lulusan Fakultas Ekonomi Universitas Indonesia.

Held the position of Director since 1996, after previously holding the position of Accountancy Division Manager in the Company’s Financial Directorate. A graduate of the Faculty of Economics, Universitas Indonesia.

Sugono Widjaja Direktur Director

Menjabat sebagai Direktur Perseroan sejak tahun 1983, dan berpengalaman luas di bidang pembinaan Sumber Daya Manusia.

Held the position of the Company’s Director since 1983, he is widely experienced in the field of Human Resources development.

Nobuo Ninomiya Direktur Director

Bergabung sebagai Direktur Perseroan pada tahun 2008. Lulusan dari Fakultas Teknik Elektro Univesitas Miyazaki, Miyazaki, Jepang dan sangat berpengalaman dalam bidang teknik. Lebih dari 25 tahun bergabung dengan Fujikura Limited, salah satu perusahaan kabel terkemuka di Jepang, dan saat ini juga menjabat sebagai President Direktur Fujikura Federal Cable Sdn. Bhd. Joined the Company as Director in 2008. Graduated from the Faculty of Electric, Miyazaki University, Miyazaki, Japan and widely experienced in the field of technique. Joined Fujikura Limited, one of the foremost cable companies in Japan for more than 25 years. Is currently also the President Director of Fujikura Federal Cable Sdn. Bhd.

12

Profil Perseroan Company Profile

Data Perusahaan

Company’s Data

Tanggal didirikan Date of Establishment

17 April 1973

Pencatatan di Bursa Efek Listing at Jakarta Stock Exchange

18 November 1992

Jumlah Saham yang Tercatat Total Shares Listed

151.200.000

Susunan Modal (Setelah Penawaran Umum) Capital Structure (After IPO) • Modal Dasar Authorized Capital Rp300 miliar billion • Jumlah Saham Total Shares 600.000.000 • Nominal per Saham Rp500 Nominal Value per Share • Modal Disetor Paid-in Capital Rp75,6 miliar billion Pemegang Saham Share Holders

PT Monas Permata Persada Fujikura Group PT. Indolife Pensiontama Masyarakat Umum Public

52,57% 20,00% 17,58% 9,85%

Produk-Produk Products

Kabel Listrik Tegangan Rendah Tembaga / LV-CU Insulated Cable Kabel Listrik Tegangan Rendah Aluminium / LV-AI Insulated Cable Kabel Listrik Tegangan Menengah / Medium Voltage Cable Kabel Telekomunikasi / Telecommunication Cable Kabel Serat Optik / Optical Fiber Cable Kabel Data / Data Cable Energi Listrik / Power Energy

Alamat Kantor Pusat dan Pabrik Head Office and Factory Address

Jl. Pajajaran, Ds. Gandasari – Jatiuwung Tangerang 15137 Indonesia. Telp. (62-21) 556-50468, 591-9442, 45-47 Fax. (62-21) 556-50466 Web : http://www.jembo.com

Alamat Kantor Pemasaran Marketing Office Address

Mega Glodok Kemayoran, Office Tower B 6th Floor Jl. Angkasa Kav B – 6, Jakarta Pusat - Indonesia Telp. (62-21) 6570-1511 (Hunting) (62-21) 2664-6933 (Hunting) Fax. (62-21) 6570-1488, 6570-1556

Anak Perusahaan dan Alamat Subsidiaries and Address

PT Jembo Energindo Pembangkit : Jl. Kuda Laut No. 4, Batu Ampar - Batam Telp. (62-778) 430-164 Fax. (62-778) 430-165

Kantor Pencatat Saham Share Registration Office

Puri Datindo, Wisma Sudirman Jl. Jend. Sudirman Kav. 34-35 Jakarta 10220, Indonesia Telp. (62-21) 570-9009 Fax. (62-21) 570-9026

13

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Didirikan pada bulan April 1973, PT Jembo Cable Company Tbk. memulai produksinya dengan kabel listrik penghantar tembaga tegangan rendah. Sejak itu, Perseroan terus memberi sumbangan pada pertumbuhan ekonomi Indonesia dengan menambah varietas kabelnya dan juga memperluas serta meningkatkan kemampuan produksinya. Mutu adalah hal yang paling diutamakan oleh Perseroan dan hal ini terintegrasi erat dalam kinerja harian Perseroan. Investasi besar telah dilakukan demi menunjang terjaganya mutu barang dan jasa secara terus-menerus. Di tahun 1992, Perseroan membuat perjanjian kerjasama dalam bidang teknik dengan Fujikura Ltd., yang merupakan salah satu perusahaan kabel terkemuka dari Jepang. Dalam upaya meningkatkan mutu barang dan jasa, Perseroan mendapatkan sertifikat ISO 9002 dari TUV Product Service GmbH pada tahun 1995 dan sertifikat ISO 9001 di tahun 2000.

Penerapan Sistem Manajemen Lingkungan yang dilakukan oleh Perseroan sejak pertengahan tahun 2007 menjadikan Perseroan dinyatakan layak untuk mendapatkan sertifikat ISO 14001 : 2004 oleh Badan Sertifikasi TUV Product Service GmbH pada bulan Desember 2007.

Brief History of the Company

Incorporated on April 1973, PT Jembo Cable Company Tbk. started its production with low voltage copper insulated cable. Since that time the Company contributed to the Indonesian economic growth by adding various types of cables and also expanding and improving its production capacity.

Quality is the uppermost matter for the Company and is strongly integrated in its daily performance. Great investment was conducted to support the continual maintenance of qualified goods and services. In 1992, the Company entered into a cooperative agreement in the field of technique with Fujikura Ltd., one of the prominent cable producers in Japan. The Company also succeeded in improving its goods quality and services, evidenced by the Company receiving the ISO 9002 Certificate from TUV Product Service GmbH in 1995 and the ISO 9001 certificate in 2000. The application of Environmental Management System conducted by the Company since medio 2007 earned the Company a citation to receive the ISO 14001: 2004 by the TUV Product Service GmbH Certification Agency in December 2007.

14

000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 Perseroan telah mencatatkan sahamnya sejak tahun 1992 pada Bursa Efek Jakarta atau yang sekarang dikenal dengan Bursa Efek Indonesia, dan hingga saat ini saham yang beredar sebanyak 151,2 juta lembar atau bernilai nominal sebesar Rp75,6 miliar, yang masing-masing dimiliki oleh PT Monas Permata Persada sebanyak 79.485.000 lembar saham atau 52,57%, PT. Indolife Pensiontama sebanyak 26.578.300 lembar saham atau 17,58%, Fujikura Group sebanyak 30.240.000 lembar saham atau 20,00%, dan Masyarakat sebanyak 14.896.700 lembar saham atau 9,85%. Dengan kemajuan dan pengalaman lebih dari tiga puluh tahun, serta semangat “TOGETHER WE GROW”, PT Jembo Cable Company Tbk. telah mampu menjadi produsen terkemuka dalam industri kawat dan kabel.

Produksi

Sejak awal berdirinya hingga saat ini, Perseroan telah memproduksi berbagai jenis kabel dengan berbagai macam ukuran yang antara lain : 1. Kabel Listrik Tegangan Rendah dengan konduktor Tembaga dan Aluminium 2. Kabel Listrik Tegangan Menengah dengan konduktor Tembaga dan Aluminium 3. Kabel Transmisi Udara/ Distribusi

The Company has listed its share in the Jakarta Stock Exchange since 1992, or currently better known as the Indonesian Stock Exchange, currently the amount of shares in circulation is 151,2 million with a nominal value of Rp.75.6 billion, respectively owned by PT Monas Permata Persada amounting to 79,485,000 shares or 52.57%. PT Indolife Pensiontama amounting to 26,578,300 shares or 17.58%, Fujikara Group amounting to 30,240,000 shares or 20.00%, and the Public amounting to 14,896,700 shares or 9.85%. With its development and experience of more than thirty years, and the spirit of “TOGETHER WE GROW”, PT Jembo Cable Company Tbk. has been able to become a prominent producer in the wire and cable industry.

Production

Since it’s beginning up to the present, the Company produced several types of cables of various measurements among others: 1. Low Voltage Copper and Aluminium insulated Cables 2. Medium Voltage Copper and Aluminium insulated Cables 3. Air / Distribution Transmission Cable

15

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Kabel Telekomunikasi dengan konduktor Tembaga dan Serat Optik Kabel Instrumen Kabel Kontrol Kabel Data

Selain memproduksi berbagai jenis kabel, Perseroan juga memiliki usaha lain yaitu energi listrik melalui Anak Perusahaan yang dihasilkan untuk melayani kebutuhan energi listrik sebagian area di Pulau Batam.

Pemasaran

Pada tahun 2008, penjualan konsolidasi Perseroan mengalami peningkatan dibandingkan dengan tahun 2007. Peningkatan ini diperoleh melalui penjualan ke pasar lokal maupun eksport.

Penjualan pada pasar lokal naik sebesar 38,5% atau Rp200,9 miliar, yaitu dari Rp522,0 miliar pada tahun 2007, menjadi Rp722,9 miliar pada tahun 2008, dengan pelanggan yang terdiri dari Kontraktor, Distributor, serta perusahaan swasta yang masuk dalam kategori pasar bebas, kemudian PT PLN (Persero) dan PT Telkom baik secara langsung maupun melalui rekanannya.

4. 5. 6. 7.

Telecommunication Cable with Copper conductor and Optical Fibre Instrument Cable Control Cable Data Cable

Besides production of the above types of cables, the Company also runs another business of supplying power energy through its Subsidiary to serve the need of power energy in part of Batam Island.

Marketing

In 2008, the Company’s consolidated sales increased compared to 2007, achieved by both sales through the domestic market and export.

Domestic market sales increased 38.5% or Rp.200.9 billion from Rp.522.0 billion in 2007, to become Rp.722.9 billion in 2008 with customers such as Contractors, Distributors and private companies included in the free market category, and PT PLN (Persero) and PT Telkom both directly and through it’s partners.

16

000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 Sedangkan untuk pasar ekspor naik sebesar 91,1% atau Rp194,6 miliar, yaitu Rp213,6 miliar pada tahun 2007, menjadi Rp408,2 miliar pada tahun 2008. Dengan Negara tujuan ekspor antara lain: Brunei Darussalam, Singapura, Filipina, Thailand, Bangladesh, Oman, United Emirate Arab, Vietnam, Inggris, Jerman, dan lain-lain.

Export sales increased quite significantly by 91.1% or Rp.194.6 billion from Rp.213.6 billion in 2007, to become Rp.408.2 billion in 2008. with export to among others: Brunei Darussalam, Singapore, Philippine, Thailand, Oman, United Emirate Arab, Vietnam, Bangladesh, England, German. etc.

Pasar Market

2007

2008

Lokal Domestic

522,0

722,9

Ekspor Export

213,6

408,2

Penjualan Bersih Net Sales

735,6

1.131,1

(dalam miliar rupiah in billion rupiah)

Sumber Daya Manusia

Karyawan merupakan aset yang sangat berharga bagi Perseroan, hal ini tercermin dari salah satu Misi Perseroan, yaitu memberikan peluang kepada karyawan untuk menjadi unggul sehingga berdampak baik bagi pertumbuhan Perseroan, dengan meletakkan dasar yang baik dan kuat sehingga memungkinkan karyawan untuk meraih target mereka sesuai dengan kemampuannya.

Human Resources

Employees are the most precious assets of the Company; this is reflected in one of the Mission statements, providing opportunity to all employees to become experts by laying strong and good foundation enabling employees to achieve their targets according to their capacity.

17

000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 Setiap karyawan, diharapkan dan didorong untuk dapat terus meningkatkan kemampuan pribadi maupun segala kebutuhan bagi pengembangan karir. Dan dalam upaya pengembangan sumber daya manusia di tahun 2008, Perseroan melakukannya melalui beberapa cara antara lain:

1. Program Pendidikan dan Pelatihan, di tahun 2008 Perseroan melaksanakan program ini baik diselengarakan oleh pihak internal maupun pihak eksternal Perseroan, dengan mengambil tempat pelaksanaan di dalam maupun di luar Perseroan. Setiap pelatihan yang diselenggarakan oleh pihak Perseroan telah direncanakan dengan matang serta ditunjang dengan realisasi pelaksanaan secara maksimal. Dan di tahun 2008, 100% rencana pelatihan dapat terealisasi, dengan rincian :

Every employee, is expected and encouraged to continually improve their personal capacity and all their needs for the development of their career. And in the effort to improve human resources development in 2008 was conducted by the Company through several efforts among others: 1. Education and Training program in 2008, Held either internally or externally of the Company, well planned and supported by maximal realisation implementation. In 2008, 100% of the planned trainings were realized detailed as follows. Periode Period

Jumlah Program Number of Programs

Rencana Planning

Realisasi Realisation

% Realisasi Percentage

Jan

18

18

100%

Feb

11

11

100%

Mar

22

22

100%

Apr

11

11

100%

May

20

20

100%

Jun

16

16

100%

Jul

12

12

100%

Aug

16

16

100%

Sep

10

10

100%

Oct

7

7

100%

Nov

7

7

100%

Dec

6

6

100%

156

156

100%

18

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1. Scholarship program, a program initiated by the Company to provide the opportunity to employees to progress and develop, to those who succeed in passing an internal test held by the Company for Diploma and Graduate education level. In 2008, several employees passed the selection, among others: 2 persons for Stratum I, and one person for Stratum II. As of the start, this program has resulted in 3 persons achieving their Stratum I. 2. Selection and Reward Citation for the best Employee, held to motivate employees to be more spirited and improve performance. This program assessment was conducted from the Operator up to Manager level. Besides those above programs, for the development of the employees, the Company also provides a library, which has currently a collection of 450 books of various science disciplines and soft copies on motivation as one of the learning media.

19

Ikhtisar Mengenai Saham Summary of Shares

Pada tanggal 31 Desember 2008, modal yang disetor Perseroan tidak mengalami perubahan, sebesar Rp75,6 miliar, yang terdiri dari 151,2 juta lembar saham biasa masing-masing dengan nilai nominal Rp500,00 (lima ratus rupiah) per lembar saham. Saham-saham Perseroan tersebut, seluruhnya telah dicatatkan di Bursa Efek Indonesia (sebelumnya Bursa Efek Jakarta) sejak tanggal 18 November 1992.

On December 31st 2008, the paid-in capital of the Company remained unchanged, amounting to Rp.75, 6 billion, consisting of Rp.151, 2 million common shares which a nominal value of Rp.500, 00 (five hundred rupiah) per share. All the Company shares were listed at the Jakarta Stock Exchange since November 18th 1992. Tabel harga Saham Perseroan Terendah, Tertinggi dan Penutupan serta Volume dan Nilai Transaksi pada Bursa Efek indonesia untuk periode yang bersangkutan. Table of the Company Sahres Prices lowest, Highest and Closing and Volume and Transaction Value at the Jakarta Stock Exchange for the related period. Harga Per Saham (Rp) Prize per Share (Rp) Terendah Lowest

Tertinggi Highest

Penutupan Closing

Total Transaksi Total Transaction Volume Volume

Nilai Value

2007

2007

Triwulan ke 1 (Jan-Mar)

155

213

212

104,500

18,278,500

1st Quarter (Jan-Mar)

Triwulan ke 2 (Apr-Jun)

180

290

200

1,845,000

432,714,500

2nd Quarter (Apr-Jun)

Triwulan ke 3 (Jul-Sep)

205

570

510

6,392,000

2,935,977,500

3rd Quarter (Jul-Sep)

Triwulan ke 4 (Okt-Des)

440

600

470

1,934,000

937,527,500

4th Quarter (Okt-Des)

155

600

470

10,275,500

4,324,498,000

2008

2008

Triwulan ke 1 (Jan-Mar)

350

570

550

609,000

296,625,000

1st Quarter (Jan-Mar)

Triwulan ke 2 (Apr-Jun)

410

610

500

1,897,120

1,010,830,100

2nd Quarter (Apr-Jun)

Triwulan ke 3 (Jul-Sep)

310

740

375

5,483,000

3,188,372,500

3rd Quarter (Jul-Sep)

Triwulan ke 4 (Okt-Des)

295

360

295

44,500

14,430,000

4th Quarter (Okt-Des)

295

740

550

8,033,620

4,510,257,600

20

Tata Kelola Perusahaan yang baik Good Corporate Governance

Dewan Komisaris dan Direksi PT Jembo Cable Company Tbk. menyadari benar akan arti pentingnya pelaksanaan tata kelola perusahaan yang baik, selain berguna untuk meningkatkan kinerja dan akuntabilitas Perseroan kepada publik, bagi Perseroan, pelaksanaan tata kelola perusahaan yang baik juga memiliki makna penting yaitu melindungi aset dari pengelolaan perusahaan yang tidak benar, dan memberikan jaminan bahwa Perseroan beroperasi dengan berorientasi kepada keuntungan, serta menjamin bahwa setiap keputusan yang diambil adalah berdasarkan pertimbangan matang yang menghasilkan keputusan terbaik. Dalam penerapan tata kelola perusahaan yang baik, Perseroan menganut 5 prinsip dasar antara lain: Transparansi, Kemandirian, Akuntabilitas, Pertanggungjawaban, dan Kewajaran, yaitu untuk mengatur mekanisme kerja antara Dewan Komisaris dengan Direksi serta beberapa komite. Struktur tata kelola PT Jembo Cable Company Tbk., terdiri atas Rapat Umum Pemegang Saham (RUPS), Dewan Komisaris, dan Direksi.

The Board of Commissioners and Board of Directors of PT Jembo Cable Company Tbk. are fully conscious of the importance in implementing good corporate governance, not only for the improvement of the Company’s performance and accountability to the public, implementing good corporate governance for the Company has also the important meaning of safeguarding assets against erroneous management, and ensure that the Company operates by orienting to profit, and guarantee that any decision taken are based on mature consideration resulting in the best decision. In implementing good corporate governance the Company adhere to five basic principles: Transparency, Independency, Accountability, Responsibility and Fairness, regulating the working mechanism between the Board of Commissioners and the Board of Directors and also several committees. The management structure of PT Jembo Cable Company Tbk. Consist of the General Meeting of Shareholders, Board of Commissioners and Board of Directors.

21

000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 Rapat Umum Pemegang Saham Rapat Umum Pemegang Saham Perseroan adalah :

Rapat Umum Pemegang Saham Tahunan (RUPS Tahunan), yang diselenggarakan tiap tahun, paling lambat 6 (enam) bulan setelah tahun buku Perseroan ditutup. Dalam RUPS Tahunan, dibahas antara lain: Laporan Tahunan, Penetapan penggunaan laba, Penunjukan Akuntan Pubilk, dan dapat dilakukan pengangkatan anggota Dewan Komisaris dan Direksi.

Rapat Umum Pemegang Saham Luar Biasa (RUPS Luar Biasa), yang diadakan sewaktuwaktu berdasarkan kebutuhan atau atas permintaan tertulis dari Dewan Komisaris, atau dari 1 (satu) Pemegang Saham atau lebih yang bersama-sama mewakili 1/10 (satu per sepuluh) bagian dari seluruh jumlah saham dengan hak suara. Dewan Komisaris Dewan Komisaris bertugas untuk melakukan pengawasan terhadap Direksi dalam melaksanakan tugas sebaik-baiknya demi kepentingan Perseroan dan Pemegang Saham serta memantau efektifitas dari penerapan tata kelola perusahaan yang baik.

Sesuai dengan Akta Perubahan Anggaran Dasar dalam Akte Notaris No. 26 tanggal 27 Juni 2008, Komisaris terdiri dari sedikitnya 3 (tiga) orang anggota Komisaris dan salah seorang diantaranya dapat diangkat sebagai Presiden Komisaris.

General Meeting of Shareholders

The Annual General Meeting of Shareholders, is convened once in a year at the latest 6 (six) months as of the closing of the Company’s books.. The Annual General Meeting of Shareholders discuss among others: the Annual Report, Decision as to the appropriation of profit, Appointment of an Accountant Public and may also appoint members of the Board of Commissioners and Board of Directors.

The Extraordinary General Meeting of Shareholders, convened from time to time based on need or on a written application of the Board of Commissioners , or of 1 (one) or more shareholders who collectively represent 1/10 (one tenth) of all the shares with voting rights. Board of Commissioners The Board of Commissioners task is to supervise the Board of Directors in conducting their tasks for the interest of the Company and the Shareholders and monitor the effectiveness of the good corporate governance implementation. According to the Deed of Amendment of the Articles of Association in Notarial Deed No. 26 dated 27 June 2008, the Board of Commissioners consists of at least 3 (three) members and one of them may be appointed as President Commissioner.

22

000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 Presiden Komisaris dan 2 (dua) orang anggota Komisaris atau lebih, diangkat oleh RUPS sesuai dengan peraturan perundang-undangan yang berlaku, masing-masing untuk jangka waktu sejak tanggal yang ditentukan dalam RUPS yang mengangkatnya sampai dengan penutupan RUPS Tahunan yang ke-3 (tiga) setelah tanggal pengangkatan. Nama dan profil setiap anggota Dewan Komisaris, ditampilkan setelah halaman Laporan Dewan Komisaris pada Laporan Tahunan ini.

Sepanjang tahun 2008, dalam menjalankan tugas dan wewenangnya, Dewan Komisaris telah melakukan rapat khusus sebanyak 3 kali dan rapat yang dihadiri oleh Direksi juga sebanyak 3 kali, dengan rata-rata kehadiran anggota Komisaris sebesar 100%.

Direksi Direksi bertugas menjalankan roda manajemen Perseroan secara menyeluruh, sesuai hukum dan etis dengan memperhatikan kepentingan para Pemegang Saham dan mengupayakan Perseroan untuk dapat melaksanakan tanggung jawab sosialnya. Direksi terdiri dari 3 (tiga) orang atau lebih anggota Direksi, dan seorang diantaranya dapat diangkat sebagai Presiden Direktur dengan susunan anggota Direksi adalah seorang Presiden Direktur dan 2 (dua) orang Direktur atau Lebih.

President Commissioner and 2 (two) or more Commissioners are appointed by the General Meeting of Shareholders according to prevailing laws and regulations, respectively for a period as of the date stipulated in the Meeting appointing them until the closing of the third Annual General Meeting of Shareholders after such date of appointment.

The names and profile of each member of the Board of Commissioners are depicted after the page of the Board of Commissioners Message in this Annual Report. In executing its task and authority the Board of Commissioners during 2008, held 3 Special meetings of the Board of Commissioners and three other meetings attended by the Board of Directors with a 100% attendance, of the Commissioner members.

Board of Directors The Board of Directors implement the overall management of the company, legally and ethically by observing the interest of Shareholders and make all efforts for the Company to carry out its social responsibilities. The Board of Directors consist of 3 (three) or more members, one of them being appointed as President Director and the other 2 (two) or more as Directors.

23

000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 Pemilihan anggota Direksi dilakukan melalui RUPST dengan didasarkan pada pertimbangan keahlian, integritas, kepemimpinan, pengalaman, kejujuran, perilaku yang baik, serta dedikasi yang tinggi untuk memajukan dan mengembangkan Perseroan. Komposisi Direksi selalu disesuaikan dengan kebutuhan. Berikut ini merupakan uraian singkat mengenai peran dan tanggung jawab dari masingmasing Direktur.

Direktur Utama, bertanggung jawab/ menjamin keberhasilan dan pertumbuhan Perseroan yang berkesinambungan. Direktur Operasional, bertanggung jawab mengawasi berjalannya Perseroan agar tetap dalam situasi dan kondisi yang paling efektif, efisien serta mudah beradaptasi.

Direktur Keuangan, bertanggung jawab/ menjamin atas keuangan Perseroan sesuai sebagaimana mestinya dan dikelola dengan benar secara bertanggung jawab. Mengawasi kesehatan keuangan Perseroan secara keseluruhan dengan menggunakan pengukuran standar industri. Memberikan nilai tambah pada Perseroan dengan menyediakan pandangan keuangan yang dapat dipercaya dan konsisten.

The appointment of the Board of Directors members is executed through the Annual General Meeting of Shareholders based on consideration of expertise, integrity, leadership, experience, honesty, good attitude, and high dedication to advance and develop the Company. The Board of Directors composition is according to its needs Following is a brief description of the role and the responsibilities of the respective Directors. The President Director is responsible/ensures the continual success and growth of the Company.

The Operational Director is responsible to oversee the Company’s operation to be constantly running in an effective and efficient condition, and easily adaptable. The Director of Finance is responsible/ ensures the Company finances are according to prevailing rules and well and fully responsibly managed. Supervise the soundness of the Company’s overall finance by comparing it to industrial standards. Provide added value to the company by making available financial insights that are trustworthy and consistent.

24

000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 Direktur Marketing, bertanggung jawab untuk memimpin, mengatur dan mengarahkan: Strategi dan taktik pemasaran serta inisiatif penjualan untuk memastikan pertumbuhan pendapatan yang menguntungkan. Menciptakan dan mempertahankan metode pengukuran atas keefektifan program pemasaran dan penjualan serta kinerja kerjanya inisiatif penjualan dan pemasaran yang strategis dan taktikal untuk menjamin pertumbuhan pendapatan yang menguntungkan. Menciptakan dan mempertahankan metode pengukuran atas keefektifan program pemasaran dan penjualan serta kinerjanya. Menciptakan strategi kehumasan dan penerapan pelaksanaan perencanaan. Direktur Sumber Daya Manusia dan Masalah Umum, bertanggung jawab/ menjamin lingkungan kerja yang sehat dan aman serta ketersediaan tenaga kerja yang kompeten. Menjamin tindakan tenaga kerja Perseroan aman, efisien dan mendukung pertumbuhan Perseroan.

Direktur Produksi, bertanggung jawab/ menjamin keefektifan, keefesienan dan kemampuan beradaptasi dari produksi/ kegiatan operasional dalam Perseroan, Menjamin kesesuaian dari produk dan jasa agar sesuai permintaan pelanggan, Mempertahankan standar yang tinggi dari hasil produksi, kualitas produk, dapat diandalkan dan terjamin keselamatannya. Nama dan profil dari anggota Direksi ditampilkan setelah halaman Laporan Direksi pada Laporan Tahunan ini.

The Marketing Director is responsible to lead, regulate and direct the Company’s marketing strategy and tactic and sales initiative to ensure profitable income growth. Create and maintain an assessment method of the effectiveness of the marketing program and sales and the performance of it all to guarantee a profitable income growth. Create a public relation strategy and implementation of the planning. The Director of Human Resources and General Affairs is responsible / ensures a healthy and save occupational environment and the availability of competent employees. Ensure that the employment policy of the Company is safe, efficient and supporting the Company’s growth.

The Production Director is responsible / ensures the effectiveness and efficiency and ability of the production / operational activity of the Company to adapt. Ensure the proper ness of products and strategy to be in accordance to customer’s demand. Maintain high standards of production results, product quality that may be relied on and its safety guaranteed. A detailed description of the name and profile of the respective Directors is availabe after the Report of the Board of Directors in this Annual Report.

25

000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 Dalam menjalankan tugasnya di tahun 2008, Direksi telah melakukan rapat khusus Direksi sebanyak 48 kali dengan dihadiri oleh Dewan Komisaris sebanyak 3 kali, sedangkan yang hanya dihadiri khusus oleh Direksi sebanyak 46 kali, dengan kehadiran anggota Direksi ratarata sebesar 94.8%. Beberapa program pelatihan diikuti oleh para anggota Direksi dengan tujuan guna meningkatkan kompetensi dari para anggota Direksi.

Remunerasi Dewan Komisaris dan Direksi. Dalam menjalankan tugasnya, setiap anggota Dewan Komisaris dan Direksi menerima remunerasi yang pemberiannya diatur dalam Anggaran Dasar dengan nilai sebagaimana yang ditetapkan dalam Rapat Umum Pemegang Saham Tahunan. Untuk tahun 2008, total remunerasi anggota Dewan Komisaris Rp357.963.400, dan total remunerasi Direksi adalah sebesar Rp1.498.129.364.

Komite Audit Selain melakukan tugas khusus yang diberikan oleh Dewan Komisaris Komite Audit bertanggung jawab untuk menelaah informasi keuangan yang akan dipublikasikan, dan menyeleksi serta mengusulkan calon auditor independen, mengawasi pekerjaan auditor independen, dan memantau efektivitas pengendalian internal, serta memantau kepatuhan Perseroan terhadap perundang-undangan yang berlaku.

In executing its task during 2008, the Board Of Directors conducted 49 times Board of Directors meetings 3 of which was attended by the Board of Commissioners, and 46 times only especially attended by the Directors, which an average presence of 94.8 %. Several training programs are attended by the members of the Board of Directors with the objective to improve their competence.

Remuneration of the Board of Commissioners and Board of Directors. In carrying out their tasks, the respective members of the Board of Commissioners and Board of Directors are provided with a renumeration which is regulated in the Articles of Association with a value stipulated by the Annual General Meeting of Shareholders. For 2008, the total remuneration of the Board of Commissioners was Rp.357,963,400, and total for the Board of Directors Rp. 1,498,129,364.

Audit Committee Beside executing the special task assigned by the Board of Commissioners, the Audit Committee is also responsible to examine financial information to be published, select and propose a candidate for an independent auditor, supervise the independent auditor’s work and monitor

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000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 Komite Audit memiliki 3 (tiga) anggota yang terdiri atas 1 (satu) orang Komisaris Independen, dan 2 (dua) orang anggota independen dari luar Perseroan. Komite Audit dipimpin oleh Komisaris Independen sementara anggotanya ditetapkan sebagai ahli keuangan dan akuntansi serta ahli pengendalian internal. Nama dan riwayat hidup dari para anggota Komite Audit : 1

2

Drs. I Gusti Made Putera Astaman, Ketua Komite Audit/ Presiden Komisaris & Komisaris Independen. Riwayat Hidup singkat ditampilkan setelah Laporan Dewan Komisaris pada Laporan Tahunan ini. Hartono, Anggota Komite Audit. Adalah pensiunan pegawai PT PLN (Persero) dengan pangkat golongan IV D/ peringkat II dan jabatan terakhir Inspektur bidang Teknik pada SPI PT PLN (Persero), dengan pengalaman : a. Mengelola kegiatan Administrasi & Keuangan Proyek Pembangunan b. Melakukan pemeriksaan khusus dan operasional c. Instruktur bidang Pengawasan & Pemeriksaan Operasional. Sebagai anggota Komite Audit PT Jembo Cable Company Tbk. sejak tahun 2002.

the effectiveness of internal control, and also monitor the Company’s compliance to prevailing laws and regulations.

The Audit Committee consists of 3 (three) members which the formation of 1 (one) Independent Commissioner, and 2 (two) other independent members from outside the Company. The Independent Commissioner chairs the Audit Committee while the other members have to be experts in finance and accountancy and internal control. Names and Curriculum Vitae of the Audit Committee Members:

1. Drs. I Gusti Made Putera Astaman, Audit Committee Chairman / President Commissioner & Independent Commissioner. A brief description was given after the Message of the Board of Commissioners of this Annual Report.

2. Hartono, Member of the Audit Committee Pensioner of PT PLN (Persero) with the rank of level IV D / II and latest position as Inspector of technical matters in SPI PT PLN (Persero), and experienced in: a. Managing Administrative and Financial Activities in Development Projects. b. Conduct special and operational investigation. c. Instructor in the field of Supervision & Operational Inspection. A member of the Audit Committee of PT Jembo Cable Company Tbk. since 2002.

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Subagya Hadi Yuwono, SE, Anggota Komite Audit. Pengalaman sebagai Manajer Keuangan & Akuntansi di berbagai perusahaan dan Senior Auditor pada Kantor Akuntan Publik. Sebagai anggota Komite Audit PT Jembo Cable Company Tbk. sejak tahun 2004.

Dalam menjalankan tugasnya di tahun 2008, Komite Audit telah melakukan rapat sebanyak 40 kali dengan tingkat kehadiran anggota rata-rata sebesar 93,6%. Sekretaris Perseroan Dalam tugasnya Sekretaris Perseroan bertanggung jawab membantu Dewan Komisaris dan Direksi mengikuti prosedur yang mengatur kegiatan kerja maupun interaksi antara keduanya, mengkoordinir penyelenggaraan RUPST dan RUPSLB, menyiapkan laporan pertanggungjawaban Direksi, menjadi penghubung dengan lembaga terkait, serta mengadministrasikan dokumen resmi seperti risalah rapat Dewan Komisaris dan Direksi, daftar pemegang saham, dan berbagai Surat Perjanjian dengan pihak ketiga. Untuk tahun 2008, jabatan Sekretaris Perseroan dirangkap oleh Antonius Benady yang juga merupakan salah seorang Direktur.

3. Subagya Hadi Yuwono, Se., Audit Committee Member Experienced as Financial & Accounting Manager in several companies and Senior Auditor with an Accountant Public Office. Member of the Audit Committee of PT Jembo Cable Company Tbk. since 2004. In conducting its tasks in 2008, the Audit Committee has held 40 meetings with an average attendance of 93.6%

Company Secretary The Company Secretary is responsible in supporting the Board of Commissioners and Board of Directors to follow procedures regulating the work activities and interactions between the two boards, coordinate the Annual General Meeting of Shareholders and the Extraordinary General Meeting of Shareholders, prepare the report of the Board of Directors, liaison officer for related institutions and administrate official documents such as minutes of meetings of the Board of Commissioners and the Board of Directors, the list of shareholders, and various Agreement documents with third parties. For the year 2008, Antonius Benady who is also one of the Directors concurrently served the Company’s Secretary.

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000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 Pengendalian Internal dan Pengawasan Interen. Pelaksanaan Pengendalian Internal Perseroan ditunjang dengan perangkat yang disebut dengan Jembo Standard (JS), sedangkan untuk memonitor pelaksanaan operasional di lapangan dilaksanakan oleh Satuan Pengawasan Internal (SPI). SPI dalam menjalankan tugasnya, membantu Presiden Direktur memonitor operasional Perseroan dan memberikan usul saran, agar tujuan Perseroan dapat tercapai. Dalam menjalankan tugasnya, SPI melakukan beberapa kegiatan antara lain:

1. Mengevaluasi operasional Perseroan, mengenai efisiensi dalam pelaksanaannya, serta memberikan saran dan usulan terhadap pelaksanaan yang tidak efisien atau tidak sesuai dengan JS. 2. Melakukan evaluasi terhadap JS yang tidak sesuai dengan pelaksanaan atau tidak dapat dilaksanakan, serta memberikan usulan untuk perubahannya. 3. Mengusulkan penerbitan JS operasional yang belum diterbitkan terutama yang menyangkut sistem. 4. Melakukan audit atas permintaan Manajemen dan atau Komite Audit. Pelaksanaan pengawasan dan pengajuan usulan serta saran dilakukan semata-mata agar tujuan Perseroan dapat tercapai.

Internal Control and Internal Supervision The Company’s Internal Control Implementation is supported by what is called Jembo Standard (JS), while the Internal Control Unit monitors operational execution in the field.

The Internal Control Unit assist the President Director in monitoring the Company’s operation and forward suggestions and proposals, so that the Company’s objectives may be attained. It has the following tasks: 1. Evaluate the Company’s operation, concerning efficiency in executions, suggest ideas and proposal for implementations that do not comply to JS. 2. Evaluate JS that are not up to standard or not operational and provide ideas to change it. 3. Propose the issue for operational JS especially those connected to system. 4. Conduct audit on request of Management and or Audit Committee.

Supervision implementation and the forwarding of proposals and ideas are mainly directed that the objectives of the Company may be attained.

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000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 Risiko Usaha Tidak berbeda dengan tahun-tahun sebelumnya, Perseroan menghadapi beberapa faktor risiko kegiatan usaha yang harus diperhitungkan dan diantisipasi dengan tindakan yang tepat guna meminimalisirnya, antara lain :

1. Nilai tukar mata uang asing, khususnya Dollar Amerika yang tidak tetap atau berfluktuasi merupakan salah satu faktor risiko. Hal ini erat kaitannya dengan banyaknya pengadaan kebutuhan bahan baku Perseroan yang didapatkan melalui impor, serta suku bunga pinjaman. 2. Harga bahan baku utama, seperti Tembaga dan Aluminium hampir selalu berubah, dimana perubahan atau pergeserannya sepenuhnya ditentukan berdasarkan harga patokan LME (London Metal Exchange). 3. Perkembangan teknologi telekomunikasi, khususnya penggunakan saluran komunikasi nir kabel, membawa dampak pada menurunnya tingkat permintaan kabel telepon, yang juga secara langsung menjadikan penjualan kabel telepon menurun. Risiko usaha lain yang akan membawa pengaruh besar bagi Perseroan adalah kerusakan pada mesin pembangkit energi listrik yang dimiliki oleh Anak Perusahaan, yang menjadikan menurunnya energi listrik yang dihasilkan.

Company Risk Same as the previous years the Company faces several risk factors in its operation, which had to be reckoned with and anticipated by appropriate measures to minimize it, among others: 1. Foreign currency exchange rate fluctuations, especially the fluctuating United States Dollar was one of those risks factor. This is closely related to the procurement of raw material which had to be imported, and loan interest rate. 2. Raw material prices, such as copper and aluminium, constantly fluctuates and tend to increase, entirely controlled by the London Metal Exchange rate. 3. Development, especially in telecommunication technology by the use of wireless communication impacted on the decline of the telephone cable demand, which also directly cause decline in phone cable sales.

Another operating risk greatly impacting the Company was the damage to the power station owned by the Company’s subsidiary, causing a decline in power energy production.

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000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 Tanggung Jawab Sosial Perseroan memiliki kepedulian tersendiri terhadap masyarakat, hal ini diwujudkannya dengan beberapa aktifitas sosial, dan di tahun 2008 beberapa kegiatan sosial telah dilakukan antara lain melakukan kunjungan dan menyerahkan bantuan dana bagi panti asuhan, memberikan santunan bagi anak yatim disekitar Perseroan, mendukung acara sosial keagamaan, serta dukungan bagi iklan sosial pendidikan.

Social Responsibility The Company had its own concern for the community; evidenced by several social activities, during 2008 it was executed by visiting and donating to orphanages, support religious social activities, and assist educational social advertisement.

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Laporan Komite Audit Report of the Audit Committee

Komite Audit mempunyai tugas membantu dan memperkuat fungsi Dewan Komisaris dalam menjalankan fungsi pengawasan atas proses pelaporan keuangan, manajemen risiko, pelaksanaan audit dan implementasinya dari tata kelola perusahaan di Perseroan. Anggota Komite Audit untuk tahun 2008 diangkat oleh Dewan Komisaris dan dilaporkan kepada Rapat Umum Pemegang Saham, dengan susunan sebagai berikut: Ketua : Drs. I. Gusti Made Putera Astaman Anggota : Hartono Subagya Hadi Yuwono, SE, M.Ak Dalam menjalankan tugasnya, Komite Audit memberikan informasi dan rekomendasi profesional dan independen terhadap efektifitas proses penyusunan Laporan Keuangan Perseroan, manajemen risiko dan sistem pengendalian interen Perseroan, pelaksanaan proses audit serta penerapan tata kelola perusahaan yang baik. Sasaran yang hendak dicapai dari aktifitas Komite Audit adalah untuk memperoleh keyakinan bahwa: 1. Laporan-laporan yang disampaikan oleh Direksi Perseroan kepada Komisaris Perseroan adalah layak dan dapat dipercaya serta memenuhi syarat-syarat tata kelola perusahaan yang baik.

The Audit Committee has the task to assist and strenghthen the function of the Board of Commissioners in their supervisory function on the financial statement process, risks management, audit execution and the implementation of the Company’s corporate governance. The Audit Committee members for 2008 were appointed by the Board of Commissioners and reported to the General Meeting of Shareholders, with the following formation: Chairman : Drs. I. Gusti Made Putera Astaman Members : Hartono Subagya Hadi Yuwono, SE, M.Ak In executing their task, the Audit Committee provide professional and independent information and recommendation on the effectiveness of the Company’s Financial Statements compiling process, risks management and the Company’s Internal control, the audit process implementation and the good corporate governance. The objective to be attained from the Audit Committee activities was to ensure that: 1. Reports submitted by the Company’s Board of Directors to the Board of Commissioners are feasible and trustworthy and meet the requirements of good corporate governance

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000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 2. Implementasi pengelolaan risiko telah berjalan sesuai dengan pedoman manajemen risiko, dan mendorong tumbuh kembangnya budaya Perseroan yang berorientasi risiko, serta Sistem Pengendalian Interen Perseroan yang semakin efektif. 3. Perseroan dalam kegiatan usahanya telah mematuhi seluruh peraturan perundangundangan yang berlaku baik di bidang pasar modal maupun peraturan perundangundangan lainnya. Untuk mencapai sasaran tersebut di atas, kegiatan yang dilakukan oleh Komite Audit dalam tahun buku 2008 adalah sebagai berikut:

1. Membuat laporan kepada Dewan Komisaris Perseroan secara berkala atas hasil aktifitasnya menelaah laporan dan informasi yang diperoleh dari Manajemen Perseroan. 2. Melakukan evaluasi Kegiatan Operasional Perseroan yang meliputi: a. Menelaah laporan keuangan interim Perseroan baik bulanan maupun triwulanan dan laporan keuangan Perseroan akhir tahun. b. Mengevaluasi sistem akuntansi Perseroan dan struktur pengendalian interen. c. Menilai efektivitas kerja satuan pengawasan internal. d. Menelaah risalah rapat Direksi Perseroan. e. Menelaah kepatuhan Perseroan terhadap peraturan perundang-undangan yang berlaku di bidang pasar modal dan peraturan perundang-undangan lainnya yang berhubungan dengan kegiatan usaha Perseroan.

2. The implementation of risk management are according to the risks management guide, and boost up the growth and development of the Company’s culture oriented to risks, and the more effective Company’s Internal Control. 3. The Company in its operational activities has complied with all prevailing laws and regulations valid in the field of capital market and also other laws and regulations. To achieve the above goals, the activities conducted by the Audit Committee during 2008 were:

1. Submit periodic reports to the Company’s Board of Commissioners on the results of reviewing reports and information obtained from the Company Management. 2. Conduct evaluation on the Company’s Operational Activities covering: a. Inspect the Company’s interim financial report both monthly, quarterly and end of the year financial statements. b. Evaluate the Company’s accounting system and internal control structure. c. Assess work effectiveness of the internal audit unit. d. Study the Board of Directors minutes of meeting. e. Study the Company’s compliance to prevailing laws and regulations in the field of capital market and other laws and regulations related to the Company’s operational activities.

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000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 3. Melakukan evaluasi kegiatan auditor eksternal yang meliputi: a. Menelaah independensi auditor eksternal dalam kaitannya dengan penugasan audit oleh Perseroan. b. Diskusi dengan auditor eksternal yang akan melakukan audit atas laporan keuangan tahun perseroan 2008 untuk membahas ruang lingkup, rencana audit dan pelaksanaan guna memastikan bahwa audit dilaksanakan berdasarkan standar audit yang ditetapkan Ikatan Akuntan Indonesia. c. Membahas koreksi/ perbaikan serta saran-saran dari auditor eksternal sebagai hasil dari audit atas laporan keuangan perseroan tahun 2008. Berdasarkan hasil penelaahan terhadap jalannya proses kegiatan Perseroan, Komite Audit berpendapat sebagai berikut :

1. Tidak terdapat laporan/ informasi yang menyebabkan Komite Audit berkesimpulan bahwa laporan keuangan Perseroan untuk tahun buku 2008 disajikan tidak sesuai dengan prinsipprinsip akuntansi yang berlaku umum di Indonesia. 2. Tidak terdapat laporan/ informasi yang menyebabkan Komite Audit berkesimpulan bahwa Perseroan telah melakukan kegiatan yang dapat dipandang sebagai unsur tindakan pelanggaran hukum ataupun penyimpangan dari peraturan perundang-undangan yang berlaku di bidang pasar modal dan peraturan lainnya sehubungan dengan kegiatan usaha Perseroan.

3. Conduct evaluation on the external auditor activities covering: a. Study the external auditor independence related to the Company’s audit tasks. b. Discuss with the external auditor conducting the audit on the financial statement of 2008 to review its scope, audit plan and execution to ensure that the audit is executed based on audit standards stipulated by the Indonesian Accountant Association. c. Review corrections and suggestions from external auditor as a result of the audit on the Company’s 2008 financial statements. Based on the study results on the above matters, the Audit Committee was of the opinion that:

1. There were no report/information for the Audit Committee to conclude that the Company’s financial statement for 2008 was presented not according to general accounting principals accepted in Indonesia. 2. There were no reports / information which caused the Audit Committee to conclude that the Company conducted activities that may be regarded as legal violations or deviations from prevailing laws and regulations in the capital market and other regulations related to the Company’s operational activities.

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000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 3. Untuk meningkatkan kinerja Perseroan, beberapa hal yang perlu mendapat perhatian dari manajemen: a. Melaksanakan tertib administrasi terhadap seluruh proses kegiatan Perseroan sesuai dengan petunjuk pelaksanaan kegiatan Perseroan (Jembo Standard atau JS). b. Penyesuaian petunjuk pelaksanaan kegiatan Perseroan sesuai dengan kondisi terkini. c. Meningkatkan pengawasan terhadap pelaksanaan kegiatan Perseroan. d. Meningkatkan pelaksanaan manajemen risiko. e. Meningkatkan kemampuan sumber daya manusia dan perangkat lunaknya terkait dengan penggunaan Sistem Teknologi Informasi, agar dapat memberikan informasi secara cepat dan akurat bagi Manajemen dalam mengelola Perseroan.

3. To improve the Company’s performance, some matters needing the attention of the management: a. Conduct administrative discipline on the overall process of the Company’s operation to comply with the implementation directives of the JS. b. Adaptation of the Company’s operational implementation guidance according to current conditions. c. Improve supervision on the Company’s activities implementation. d. Improve risks management implementation. e. Improve the capability of human resources and soft wares related to the usage of new information technology, to enable it to provide fast and accurate information to the management need in managing the Company.

Tangerang, Komite Audit Audit Committee

Drs. IG.M. Putera Astaman Ketua Komite Audit Chairman Audit Committee

35

Analisa dan Pembahasan Managemen Management Analysis & Review

1. Tinjauan Usaha Walaupun kondisi perekonomian akhir tahun 2008, yaitu pada triwulan ketiga tidak menggembirakan dengan dimulainya krisis perekonomian global, secara keseluruhan dalam tahun 2008 indusri kabel masih mengalami peningkatan dibanding tahun sebelumnya. Peningkatan industri kabel dalam tahun 2008 tersebut juga dialami Perseroan melalui peningkatan penjualannya. Penjualan konsolidasi perseroan untuk tahun yang berakhir pada tanggal 31 Desember 2008 mencapai sebesar Rp1.131,1 miliar, naik sebesar Rp395,5 miliar atau naik 53,8% dibandingkan tahun 2007 sebesar Rp735,6 miliar. Kenaikan penjualan tahun 2008 sebesar Rp395,5 miliar atau hampir mencapai 60%, terjadi pada penjualan kabel listrik tegangan rendah aluminium dan kabel tegangan menengah, dengan konsumen utamanya adalah Perusahaan Listrik Negara (PLN). Peningkatan permintaan kabel oleh PLN sudah terasa sejak kuartal III tahun 2007 yang dilakukan secara bertahap hingga akhir 2008 untuk pengadaan konduktor jaringan transmisi proyek pembangkit. Kenaikan penjualan kabel tegangan rendah tembaga memberikan sumbangan sekitar 32 % terutama diperoleh dari ekspor ke beberapa negara asia dan eropa sedangkan sisanya dari kabel telepon serat optik. Penurunan penjualan terjadi pada penjualan kabel telepon metalik dan penjualan energi listrik. Penurunan penjualan kabel telepon metalik cukup signifikan oleh karena beralihnya penggunaan kabel telepon tembaga ke kabel telepon serat optik dan juga penggunaan ke

1. Operational Review Despite the fact that the economic situation in the third quarter of 2008 was not conducive with the global economic crisis looming up, the cable industry was still able to experience an increase compared to the previous year. The Company also experienced this fact in 2008 by the increase in its sales volume. The Company consolidated sales increase for the year ended as of December 31st 2008 amounted to Rp.1,131.1 billion, up by Rp. 395,5 billion or an increase of 53.8% compared to Rp.735.6 billion in 2007. Sales increase in 2008 was Rp.395.5 billion or nearly 60%, was in Low Voltage Copper Insulated Cable and Medium Voltage Cable, with the main customer the State Electric Company (PLN). The increase in cable demand by PLN was already apparent since the third quarter of 2007, conducted in stages until the end of 2008 for he power project transmission network conductor. The increase in low voltage copper insulated cable contributed 32% especially with the export to several Asia countries and Europe, and the remaining from optic fibre telephone cable.

36

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Selama kurun waktu tahun 2008, Perseroan tidak melakukan tambahan investasi mesin untuk menambah kapasitas produksinya karena kapasitas produksi perseroan masih cukup dengan tingkat utilitas baru sekitar 70%.

2. Kinerja Operasional a. Aset Aset konsolidasi Perseroan tahun 2008 mengalami kenaikan, baik aset lancarnya maupun aset tidak lancar masing-masing sebesar 53,8% dan 0,07% dibanding tahun 2007, sehingga secara keseluruhan aset konsolidasi perseroan pada tahun 2008 mengalami kenaikan sebesar Rp202,9 miliar dari Rp470,5 miliar tahun 2007 menjadi Rp673,4 miliar tahun 2008 atau naik sebesar 43,1%.

Kenaikan tertinggi terjadi pada piutang usaha sebesar Rp101,1 miliar atau 47,5% dibanding tahun 2007 yang disebabkan oleh kenaikan penjualan, demikian pula terjadi pada persediaan yang naik sebesar Rp24,6 miliar atau naik 21% dibanding tahun 2007. Kas dan setara kas juga mengalami kenaikan sebesar Rp56,1 miliar atau naik 2.718,7% karena pada akhir tahun 2008 penerimaan dana untuk pembelian bahan baku belum dipergunakan.

A drop in sales was experience for metallic phone cables and power sales. The decrease of the metallic phone cable was very significant due to the change from the use of copper phone cables to fibre optic cables and also the use of non-cable phone. While the decrease in energy sales by the subsidiary was due to the decrease in power supply by the Batam PLN. During 2008, the Company did not conduct additional machine investment to increase production capacity, as the Company production capacity was still sufficient with a utility level of around 70%.

2. Operational Performance a. Assets The Company’s current consolidated assets in 2008, both current and fixed, respectively increased by 53.8% and 0.07% compared to 2007, so that in overall the Company’s consolidated asset in 2008 underwnt an increase of Rp.202.9 billion from Rp.470.5 billion in 2007 to become Rp.673.4 bilion in 2008 or an increase of 43.1%. The highest increase was in account receivables of Rp.101.1 billion or 47.5% compared to 2007 due to increase in sales, there was also an increase in stock of Rp.24,6 bilion or up 21% compared to 2007. Cash and cash equivalent also increased by Rp.56.1 billion or up 2,718.7% as at the end of 2008 fund received for the purchase of raw material was not utilized.

37

000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 b. Kewajiban Kewajiban perseroan tahun 2008 mengalami kenaikan sebesar Rp203 miliar dari Rp383,2 miliar tahun 2007 menjadi Rp586,2 miliar tahun 2008 atau naik 53%.

Kenaikan tertinggi terjadi pada hutang dagang baik hutang dagang pada pihak hubungan istimewa maupun hutang dagang pada pihak ketiga yang mengalami kenaikan sebesar Rp216,8 miliar atau 132% yang disebabkan oleh kenaikan dalam penjualan dan bertambahnya fasilitas kredit hutang non kas (non cash loan) dari beberapa bank.

c. Penjualan / Pendapatan Usaha Penjualan konsolidasi perseroan untuk tahun yang berakhir pada tanggal 31 Desember 2008 sebesar Rp. 1.131,1 miliar mengalami kenaikan Rp. 392,5 miliar dibanding tahun 2007 sebesar Rp. 753,6 miliar atau naik 53, 8%. Kenaikan penjualan terjadi pada semua kelompok produk kabel listrik dan kabel telepon serat optik kecuali kabel telepon metalik dan energi listrik mengalami penurunan penjualan. Prosentase kenaikan tertinggi terjadi pada kabel telepon serat optik sebesar 289,8% yang didorong dengan mulai beralihnya penggunaan kabel telepon metalik kepada serat optik. Kemudian diikuti kenaikan kabel lisrik tegangan rendah tembaga dan kabel tegangan

b. Liabilities The Company liabilities in 2008 increased by Rp.203 billion from Rp. 383.2 billion in 2007 to become Rp.586.2 billion in 2008 or 53%.

Increase in the Company’s liability occurred in the current liability with special related parties or with third parties by an increase of Rp.216.8 billion or 132% mainly due to incrase in sales and the increase in non cash loan facility from several banks. c. Sales / Operational Income The Company consolidated sales as ended on 31 December 2008 of Rp.1,131.1 billion increased by Rp.392.5 billion compared to 2007, amounting to Rp.753.6 billion or up 53.8%.

The increase in the Company’s Consolidated sales was due to the increase in the sales value of all groups of electrical cables and fibre optic phone cables except for Metallic Telephone Cable and power energy that underwent a decrease in sales.

The highest percentage increase was for optic fibre phone cables of 289.8% boost up by the change in the use of optic fibre to replace metallic phone cables. Coming up next was the electric low voltage copper insulated cable and medium voltage cables respectively 112%

38

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and 100.4% with the main conumer PLN, which since the third quarter of 2007 has purchased it for cable network. Lowest increase of 33.6% was in the sales of low voltage copper insulated cable, this product group has the highest value in sales of nearly 50% of the total sales in 2008. A significant drop in sales was experienced for metallic phone cables of 63.5% due to the change from the use of copper phone cables to fibre optic cables and also the use of noncable phone. While the decrease in power energy sales of 12.6% was due to the decrease in power supply demand by the Batam PLN.

Produk

(dalam miliar Rupiah)

Kabel Listrik Tegangan Rendah: • Kabel Aluminium • Kabel Tembaga

Tahun 2008 Year

Tahun 2007 Year

% Kenaikan Increase

(in billion Rupiah)

Product

Low Voltage Electric Cable: • Aluminium Cable • Copper Cable

Rp. 262,5 M Rp. 543,5 M

Rp. 123,8 M Rp. 406,7 M

112,0% 33,6%

Rp. 241,7 M

Rp. 120,6 M

100,4%

Kabel Telepon: • Kabel Metalik • Kabel Serat Optik

Rp. Rp.

18,7 M 46,0 M

Rp. 51,3 M Rp. 11,8 M

-63,5% 289,8%

Telephone Cable: • Metallic Cable • Optik Fibre Cable

Energi Listrik

Rp.

18,7 M

Rp. 21,4 M

-12,6%

Electric Energy

Jumlah

Rp. 1.131,1 M

Rp. 735,6 M

53,8%

Total

Kabel Listrik Tegangan Menengah

Medium Voltage Electric Cable

39

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550 500

2008

450

2007

406,7

400 350 300

262,5

241,7

250 200 150

123,8

120,6

100

51,3

50

18,7

46,0

11,8

18,7

21,4

0

Kabel Aluminium Aluminium Cable

Kabel Tembaga Copper Cable

Kabel TM TM Cable

Kabel Telp. Metal Metal Phone Cable

Kabel Serat Optik Optic Fiber Cable

Energi Listrik Electric Power

d. Laba Kotor Laba Kotor perseroan tahun 2008 mengalami kenaikan sebesar Rp3,4 miliar atau sebesar 3,4% dari Rp. 101,1 miliar pada tahun 2007 menjadi Rp104,5 miliar pada tahun 2008. Jika dihitung margin kotor penjualan, Perseroan mengalami penurunan dari 13,7% dalam tahun 2007 menjadi 9,2% tahun 2008 terutama disebabkan tingginya harga bahan baku utama tahun 2008 sampai triwulan ketiga.

e. Beban Usaha Beban konsolidasi perseroan tahun 2008 mengalami penurunan Rp. 872 juta dari Rp. 50 miliar tahun 2007 menjadi Rp49,128 miliar tahun 2008. Penurunan beban terjadi pada beban penjualan dari Rp30,4 miliar tahun 2007 menjadi Rp25,1 miliar tahun 2008 atau turun 17,4%

d. Gross Margin The Company’s gross profit in 2008 underwent an increase of Rp.3.4 billion or 3.4% from Rp.101.1 billion in 2007 to become Rp.104.5 billion in 2008. Calculated from the gross margin sales, the Company underwent a decrease of 13.7% in 2007 to become 9.2% in 2008 due to high prices of main raw material in 2008 up to the third quarter. e. Operating Expences The Company consolidated operational expenses decreased Rp.872 million from 50 billion in 2007 to become Rp.49.128 billion in 2008. This decrease was mainly on sales cost from Rp.30.4 billion in 2007 to become Rp.25.1 billion in 2008 or a down 17.4% while the increase

40

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f. Laba Bersih Selama tahun 2008 perseroan mencatat laba bersih sebesar Rp78,5 juta, merupakan penurunan sangat signifikan jika dibanding laba bersih tahun 2007 sebesar Rp. 22,92 miliar. Penurunan terutama disebabkan kerugian nilai tukar mata uang asing dalam tahun 2008 sebesar Rp41,9 miliar, kerugian selisih kurs ini terjadi pada tiga bulan terakhir tahun 2008 atau pada triwulan ke empat.

was in general expenses and administration from Rp.19.5 billion in 2007 to become Rp.24 billion in 2008 or up 22.7%

f. Net Profit During 2008 the Company recorded a consolidated net profit of Rp.78.5 million. A very significant drop compared to net profit in 2007 of Rp.22.92 billion. This decrease was mainly due to losses in foreign currency exchange in 2008 of Rp.41.9 billion, this exchange loss occurred in the last three months of 2008 or in the fourth quarter.

Analisis Keuangan (dalam miliar rupiah) Uraian

2004

2005

2006

2007

2008

Financial Analysis (In billion rupiah) Description

Laba Usaha

12,4

15,7

10,6

51,1

55,4

Operating Income

Laba Bersih

0,9

(2,0)

0,59

22,9

0,08

Net Income

Aset

302,0

322,7

362,3

470,5

673,4

Total Assets

Kewajiban

237,0

259,4

299,0

383,2

586,3

Liabilities

65,0

63,1

63,6

87,3

87,2

Stockholder’s Equity

Ekuitas

31 Desember / December 31

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55,4

55,0

51,1

Laba Usaha Operating Income

50,0

Laba Bersih Net Income

45,0 40,0 35,0 30,0

22,9

25,0 20,0 15,0

15,7

12,4

10,6

10,0 5,0

0,9

0,59

0,08

0,0

-2,0

-5,0

2004

2005

2006

2007

2008

3. Pembayaran Hutang dan Kolektibilitas Piutang Rata-rata pembayaran hutang dagang adalah 148 hari pada tahun 2008. Jika dibandingkan dengan tahun 2007 yaitu 106 hari, pada tahun 2008 mengalami kenaikan 42 hari disebabkan Perseroan mendapat tambahan perpanjangan jangka waktu pembayaran (term of payment) dari beberapa pemasok. Sedangkan rata-rata kolektibilitas piutang dagang 2008 adalah 100 hari mengalami perbaikan jika dibandingkan tahun 2007 yaitu 105 hari. 4. Ikatan yang material untuk investasi barang modal Pada tahun 2008 tidak ada ikatan yang material untuk investasi barang modal.

3. Loan Settlement and Outstanding collection The average trade loan payment was 148 days in 2008. Compared to 2007 of 106 days, 2008 experienced an increase of 42 days due to the fact that the Company obtained an additional term of payment extension from suppliers. The average outstanding collectible of trade account payable was 100 days in 2008 showing an improvement compared to 2007 where average payment was 105 days. 4. Material commitment for capital good investment There was no material commitment for capital good investment in 2008.

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7. Prospek Usaha Walau hasil kinerja akhir Perseroan mengalami penurunan bila dibandingkan dengan tahun lalu, sebagai akibat terjadinya kerugian selisih kurs yang cukup besar dalam triwulan keempat tahun 2008, namun penjualan konsolidasi Perseroan pada tahun 2008 mengalami peningkatan secara signifikan yaitu sebesar Rp395,5 miliar dibanding tahun 2007, atau dari Rp735,6 miliar pada tahun 2007 menjadi Rp1.131,1 pada tahun 2008. Hal ini tentunya dapat mendorong seluruh elemen dari Perseroan untuk terus berusaha agar perolehan laba pada tahun berikutnya akan terus meningkat.

5. The Impact of Price Changes on Sales and Net Revenue Due to the quite significant price increase of raw material especially copper and the weakened exchange rate of the rupiah and the increase in oil prices during 2008 indirectly affected the attainment of the Company gross profit. The Company efforts to counter it and maintain its performance and to compensate the loss due to the exchange rate of foreign currency by increasing its export sales paid off in 2008 evidenced by an increase in export sales of 91.1% amounting to Rp.194.6 billion, from Rp.213.6 billion in 2007 to become Rp.408.2 billion in 2008. 6. Information and material facts that took place after the date of audit report. There was no information and materal facts taking place after the audit report date.

7. Operational Prospect Although the Company’s end performance underwent a decrease compared to the previous year, due to the vast differences in exchange rate in the fourth quarter of 2008, the Company’s consolidated sales in 2008 significantly increased by Rp.395.5 billion compared to 2007, or from Rp.735.6 billion in 2007 to become Rp.1, 131.1 in 2008. This will surely boost all elements in the Company to continually effort to obtain a better result in the next year.

43

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Selain pasar lokal, besarnya peluang di pasar internasional yang ditunjukkan dengan terus meningkatnya penjualan ke pasar internasional, hal ini tentu mendorong rasa optimis akan pertumbuhan usaha Perseroan. Kinerja anak perusahaan Perseroan juga diharapkan akan terus meningkat seiring dengan meningkatnya kebutuhan energi listrik. 8. Aspek Pemasaran Infrastruktur, Industri, serta Konstruksi dan Bangunan merupakan tiga pasar utama yang dilayani oleh Perseroan dengan berbagai macam produk yang dihasilkan, pada pasar lokal maupun internasional.

Dalam usaha meningkatkan penjualan, selain terus meningkatkan kualitas dan kemampuan, Perseroan juga terus berusaha untuk menambah jenis produk kabel yang dapat diproduksi terutama pada jenis-jenis kabel khusus, serta mendorong naiknya angka ekspor melalui penjualan produk-produk unggulan seperti yang terjadi pada tahun 2007.

Sales increase for alll types of cable groups both low voltage and medium voltage electrical cables, copper as well as aluminum insulated, showed that there was a growth in the cable industry, although it was also very dependent on economic conditions, both national and global. Besides the local market, opportunities in the international market evidenced by an everincreasing sales to the international market, boosted the optimistic view of the Company operational growth. The Company Subsidiary performance is also expected to become better in line with the increased demand for power energy. 8. Marketing Aspects Infrastructure, Industry, and Construction and Buildings are three main markets served by the Company with its various types of products both in the domestic and international market.

In its effort to increase sales, besides improving its quality and capability, the Company is also trying to add more cable varieties especially for special types of cables and boost up its export rate by the sales of superior products.

44

000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 000000000000000000000000000000000000000 9. Kebijakan Dividen Untuk mencapai keseimbangan yang baik antara kepentingan dari para Pemegang Saham dengan kondisi keuangan serta pertumbuhan Perseroan, pembayaran atau pembagian dividen ditentukan dalam Rapat Umum Pemegang Saham selama tidak bertentangan dengan Anggaran Dasar Perseroan. Dalam Rapat Umum Pemegang Saham tanggal 25 Mei 2008 untuk tahun buku yang berakhir pada tanggal 31 Desember 2008, diputuskan bahwa tidak ada pembagian dividen.

9. Dividend Policy To maintain a good balance between the interest of the shareholders and the financial condition and growth of the Company, payment or dividend distribution is decided in the General Meeting of Shareholders as long as it does not violate the Company’s Articles of Association.

According to the resolution of the General Meeting of Shareholders on may 25th 2008 for the book year ended on December 31st 2008, it was decided that there would be no dividend distributed.

45

Struktur Organisasi Organization Structure

Board of Commissioners

AuditCommittee

President Director

Internal Control

Managing Director

Management Representative

Corporate Secretary

Corporate Communication

Manufacturing Director

Finance Director

Quality Assurance Manager

Low Voltage Cables Production Manager

Finance & Accounting Manager

Information Technology Manager

Production Planning & Inventory Control Manager

Telephone & Medium Voltage Cables Production Manager

Supply Chain Manager

Master Facility Manager

Maintenance Manager

Process Engineering Manager

46

Human Resources & General Affairs Director

Marketing Director

Human Resources Development & General Affairs Manager

Sales Manager

Sales Support Manager

Business Development Manager

Annual Report 2008

LAPORAN TAHUNAN 2008 / 2008 ANNUAL REPORT PT JEMBO CABLE COMPANY Tbk.

Dewan Komisaris dan Direksi bertanggung jawab penuh atas kebenaran isi Laporan Tahunan PT Jembo Cable Company Tbk, Tahun 2008. The Board of Commissioners and The Board of Director are fully responsible as to the contents of the 2008 Annual Report of PT Jembo Cable Company Tbk. Dewan Komisaris Board of Commissioners

Drs. I Gusti Made Putera Astaman

Ny. Hauw Ay Lan

Presiden Komisaris & Komisaris Independen President Commissioner & Independent Commissioner

Komisaris Commissioner

Drs. Andreas S. Soedjijanto, MBA, FLMI Komisaris Independen Independent Commissioner

Direksi Board of Directors

Santoso

Mary Ang Santoso

Cahayadi Santoso

Drs. Antonius Benady

Sugono Widjaja

Nobuo Ninomiya

Presiden Direktur President Director

Direktur Director

Direktur Director

Direktur Director

Direktur Director

Direktur Director

Halaman ini sengaja dikosongkan This page is intentionally left blank

These Consolidated Financial Statements are Originally Issued in Indonesian Language Ekshibit A

Exhibit A

PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN NERACA KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam ribuan Rupiah, kecuali dinyatakan lain)

A S E T 2008

PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY CONSOLIDATED BALANCE SHEETS 31 DECEMBER 2008AND 2007 (Expressed in thousands Rupiah, unless otherwise stated)

Catatan/ Notes

A

S

S E T S

2007

ASET LANCAR Kas dan setara kas Piutang usaha Pihak hubungan istimewa Pihak ketiga - setelah dikurangi penyisihan piutang ragu-ragu sebesar Rp 1.605.769 (2007: Rp 1.418.419) Piutang lain-lain - Pihak ketiga Persediaan Pajak dibayar di muka Uang muka pembelian Biaya dibayar di muka

52.423.222

70.484.383

261.634.153 11.861.030 141.987.291 19.816.882 11.889.262 1.010.801

142.386.994 7.596.171 117.366.010 3.049.725 20.165.127 296.295

CURRENT ASSETS Cash and cash equivalents Trade receivables Related parties Third parties - net of allowance for doubful accounts of Rp 1,605,769 (2007: Rp 1,418,419) Other receivables - Third parties Inventories Prepaid taxes Purchase advances Prepaid expenses

Jumlah Aset Lancar

558.883.835

363.488.098

Total Current Assets

ASET TIDAK LANCAR Aset pajak tangguhan Investasi dalam saham Aset tetap - setelah dikurangi akumulasi penyusutan sebesar Rp 208.608.819 (2007 : Rp 196.448.316) Uang jaminan

58.261.193

8.376.046 1.500.000

90.128.697 14.507.947

2c,e,3 2c,d,e,f,4,28

2g,5,10,16 2n,25 7 2h

2n,25 2i,7

8 2c,9

2.143.393

93.906.506 3.205.019

NON-CURRENT ASSETS Deferred tax assets Investments in share of stocks Property, plant and equipment – net of accumulated depreciation of Rp 208,608,819 (2007 : Rp 196,448,316) Security deposits

8.224.986 1.650.000

Jumlah Aset Tidak Lancar

114.512.690

106.986.511

Total Non-Current Assets

JUMLAH AS E T

673.396.525

470.474.609

TOTAL ASSETS

Lihat Catatan atas Laporan Keuangan Konsolidasi pada Ekshibit E terlampir yang merupakan bagian yang tidak terpisahkan dari Laporan Keuangan Konsolidasi secara keseluruhan

See accompanying Notes to Consolidated Financial Statements on Exhibit E which are an integral part of the Consolidated Financial Statements taken as a whole

These Consolidated Financial Statements are Originally Issued in Indonesian Language Ekshibit A/2

Ekshibit A/2

PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN NERACA KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam ribuan Rupiah, kecuali dinyatakan lain)

Catatan/ Notes

KEWAJIBAN DAN EKUITAS 2008 KEWAJIBAN LANCAR Pinjaman bank jangka pendek Hutang usaha Pihak hubungan istimewa Pihak ketiga Hutang perolehan aset tetap Hutang lain-lain Hutang pajak Uang muka penjualan Pihak hubungan istimewa Pihak ketiga Biaya masih harus dibayar Hutang jangka panjang yang jatuh tempo dalam waktu satu tahun Pinjaman bank Hutang sewa pembiayaan Jumlah Kewajiban Lancar

103.454.460

8.728.376 541.375

CURRENT LIABILITIES Short-term bank loans Trade payables Related parties Third parties Liabilities for acquisition of property, plant and equipment Other payables Taxes payables Advances from customers Related parties Third parties Accrued expenses Current maturities of long term liabilities Bank loans Finance leases

359.827.128

Total Current Liabilities

115.122.724 72.706.462 91.609.768

2j,12 13 2n,25

3.003.111 24.472.471 6.054.346

788.698 22.070.536 21.553.379

2d,14,28 14 15

2.880.550 10.199.644 24.508.301

7.000.000 580.343

16 2k,17

568.547.910

Jumlah Kewajiban Tidak Lancar

17.655.442

JUMLAH KEWAJIBAN DAN EKUITAS

10 2c,d,11

2.505.747 27.609.797 1.871.020

2.255.065 15.400.377

Jumlah Ekuitas

LIABILITIES AND SHAREHOLDERS EQUITY 2007

80.580.285 300.533.644

KEWAJIBAN TIDAK LANCAR Hutang pihak hubungan istimewa Hutang jangka panjang - setelah dikurangi bagian yang jatuh tempo dalam waktu satu tahun Pinjaman bank Hutang sewa pembiayaan Kewajiban imbalan pasca kerja

EKUITAS Modal saham - nilai nominal Rp 500 per saham*) Modal dasar - 600.000.000 saham Modal ditempatkan dan disetor 151.200.000 saham Agio saham Selisih penilaian kembali aset tetap Laba belum direalisasi dari pemilikan efek Saldo laba (defisit) Ditentukan penggunaannya Tidak ditentukan penggunaannya

PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY CONSOLIDATED BALANCE SHEETS 31 DECEMBER 2008AND 2007 (Expressed in thousands Rupiah, unless otherwise stated)

-

2d,28

75.600.000 3.900.000 1.100.000 774.497 5.818.676

5.694.942 929.014 11.715.251

NON-CURRENT LIABILITIES Due to related parties Long-term liabilities - net of current maturities Bank loans Finance leases Provision for post-employment benefits

23.382.812

Total Non-Current Liabilities

5.043.605

16 2k,8,17 2m,27

18 19

75.600.000 3.900.000

31

33.676.181

2i,7

1.250.000

(

774.497 27.936.009)

SHAREHOLDERS' EQUITY Share capital - Rp 500 par value per share *) Authorized - 600,000,000 shares Subscribed and paid-up 151,200,000 shares Additional paid in capital Revaluation increment in property, plant and equipments Unrealized gain on increase in value of investments in shares of stocks Retained earnings (deficits) Appropriated Unappropriated

87.193.173

87.264.669

Total Shareholders’ Equity

673.396.525

470.474.609

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY

*) Dalam Rupiah penuh

Lihat Catatan atas Laporan Keuangan Konsolidasi pada Ekshibit E terlampir yang merupakan bagian yang tidak terpisahkan dari Laporan Keuangan Konsolidasi secara keseluruhan

In full Rupiah *)

See accompanying Notes to Consolidated Financial Statements on Exhibit E which are an integral part of the Consolidated Financial Statements taken as a whole

These Consolidated Financial Statements are Originally Issued in Indonesian Language Ekshibit B

Exhibit B

PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN LAPORAN LABA RUGI KONSOLIDASI TAHUN YANG BERAKHIR 31 DESEMBER 2008 DAN 2007 (Disajikan dalam ribuan Rupiah, kecuali dinyatakan lain)

PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY CONSOLIDATED STATEMENT OF INCOME YEARS ENDED 31 DECEMBER 2008 AND 2007 (Expressed in thousands Rupiah, unless otherwise stated)

Catatan/ Notes

2008

2007

PENJUALAN BERSIH

1.131.138.415

2d,20,28

735.588.653

NET SALES

BEBAN POKOK PENJUALAN

1.026.639.982

2g,21,22,28

634.495.732

COST OF GOODS SOLD

101.092.921

GROSS PROFIT

104.498.433

LABA KOTOR BEBAN USAHA Beban penjualan Beban umum dan administrasi

25.124.244 24.001.578

30.434.533 19.563.325

OPERATING EXPENSES Selling expenses General and administrative expenses

Jumlah Beban Usaha

49.125.822

49.997.858

Total Operating Expenses

LABA DARI USAHA

55.372.611

51.095.063

INCOME FROM OPERATIONS

PENGHASILAN (BEBAN) LAIN-LAIN Penjualan barang rusak Keuntungan penjualan aset tetap Penghasilan bunga Beban pinjaman Provisi dan administrasi bank Kerugian nilai tukar mata uang asing - Bersih Lain-lain - Bersih

6.217.147 203.566) 924.801 13.930.169) 5.980.913) 41.935.214) 1.269.189

Beban Lain-Lain - Bersih

2l,23

( ( ( (

(

2l 2j 3 24 2c

53.638.725)

( ( (

(

1.733.886

LABA SEBELUM PAJAK

5.915.677 1.752.212 165.160 19.431.585) 3.412.458) 2.932.812) 4.266.774

OTHER INCOME (CHARGES) Sales of scrap Gain on sale of property, plant and equipments Interest income Interest expenses Provision and bank administration Loss from foreign exchange - Net Others - Net

13.677.032)

Other Charge - Net

37.418.031

MANFAAT (BEBAN) PAJAK Pajak kini Pajak tangguhan

(

1.806.443) 151.061

( (

12.346.802) 2.149.649)

TAX INCOME (EXPENSES) Current Deferred

Jumlah Beban Pajak

(

1.655.382)

(

14.496.451)

Total Income Tax

LABA BERSIH TAHUN BERJALAN LABA PER SAHAM DASAR *) Laba bersih

2n,25

INCOME BEFORE TAX

78.504

0,52

*) Dalam Rupiah penuh

Lihat Catatan atas Laporan Keuangan Konsolidasi pada Ekshibit E terlampir yang merupakan bagian yang tidak terpisahkan dari Laporan Keuangan Konsolidasi secara keseluruhan

2o,26

22.921.580

NET INCOME FOR THE YEAR

152,00

INCOME EARNING PER SHARE *) Net Income *) In full Rupiah

See accompanying Notes to Consolidated Financial Statements on Exhibit E which are an integral part of the Consolidated Financial Statements taken as a whole

These Consolidated Financial Statements are Originally Issued in Indonesian Language Ekshibit C

Exhibit C

PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN LAPORAN PERUBAHAN EKUITAS KONSOLIDASI TAHUN YANG BERAKHIR 31 DESEMBER 2008 DAN 2007 (Disajikan dalam ribuan Rupiah, kecuali dinyatakan lain)

Modal disetor/ Share capital Saldo 31 Desember 2006

75.600.000

Agio saham/ Additional paid-in capital 3.900.000

PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY YEARS ENDED 31 DECEMBER 2008 AND 2007 (Expressed in thousands Rupiah, unless otherwise stated )

Selisih penilaian kembali aktiva tetap/ Revaluation increment in property, plant and equipment

Laba belum direalisasi dari pemilikan efek/ Unrealized gain on increase in value of investment in shares of stock

33.676.181

500.000

Laba belum direalisasi dari pemilikan efek

-

-

-

Laba bersih tahun berjalan

-

-

-

Saldo 31 Desember 2007

75.600.000

3.900.000

750.000 -

33.676.181

1.250.000

Penyesuaian atas penerapan PSAK No. 16 (Revisi 2007)

-

-

( 33.676.181)

Laba belum direalisasi dari pemilikan efek

-

-

-

Laba bersih tahun berjalan

-

-

-

-

Saldo 31 Desember 2008

75.600.000 Catatan 18/ Notes 18

3.900.000 Catatan 19/ Notes 19

Catatan 2i,31/ Notes 2i,31

1.100.000 Catatan 2h,7/ Notes 2h,7

Lihat Catatan atas Laporan Keuangan Konsolidasi pada Ekshibit E terlampir yang merupakan bagian yang tidak terpisahkan dari Laporan Keuangan Konsolidasi secara keseluruhan

-

(

150.000)

Saldo laba (defisit) Tidak Ditentukan ditentukan penggunaan- penggunaanJumlah nya nya ekuitas/ Retained earnings (deficits) Total appropriated unappropriated shareholders equity 774.497

774.497

-

( 50.857.589)

22.921.580 ( 27.936.009)

33.676.181

86.452.323

Balance as of 31 December 2006

750.000

Unrealized gain on increase in value of investments in shares of stock

22.921.580

Net income for the year

87.264.669

Balance as of 31 December 2007 Adjusment arising from adoption of SFAS No. 16 (Revised 2007)

-

(

150.000)

Unrealized gain on decrese in value of investments in shares of stock

-

-

-

78.504

78.504

Net income for the year

5.818.676

87.193.173

Balance as of 31 December 2008

774.497

See accompanying Notes to Consolidated Financial Statements on Exhibit E which are an integral part of the Consolidated Financial Statements taken as a whole

These Consolidated Financial Statements are Originally Issued in Indonesian Language Ekshibit D

Exhibit D

PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN LAPORAN ARUS KAS KONSOLIDASI TAHUN YANG BERAKHIR 31 DESEMBER 2008 DAN 2007 (Disajikan dalam ribuan Rupiah, kecuali dinyatakan lain)

PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY CONSOLIDATED STATEMENTS OF CASH FLOWS YEARS ENDED 31 DECEMBER 2008 AND 2007 (Expressed in Rupiah, unless otherwise stated)

2008 ARUS KAS DARI AKTIVITAS OPERASI Penerimaan kas dari pelanggan Pembayaran kas kepada: Pemasok Direksi dan karyawan Kas dihasilkan dari operasi Pembayaran bunga dan beban keuangan Beban operasi Pembayaran pajak penghasilan Penerimaan restitusi pajak penghasilan - Bersih

2007

( 583.594.430) ( 25.735.368)

CASH FLOWS FROM OPERATING ACTIVITIES Cash receipts from customers Cash paid to: Suppliers Directors and employees

55.002.566 19.431.585) 49.445.582) 295.673

Cash generated from operations Interest and financial charges paid Operation expenses Payments of income taxes Income tax refund - Net

(

13.578.928)

Net cash flows provided by (used in) operating activities

( (

165.160 1.752.212 5.188.279) 9.680.223)

CASH FLOWS FROM INVESTING ACTIVITIES Interest received Proceeds from sale of property, plant and equipment Acquisitions of property, plant and equipment Payments of security deposits

(

12.951.130)

Net cash flows used in investing activities

1.029.952.416 ( 860.875.966) ( 32.618.440) 136.458.010 13.930.169) ( 19.141.710) (

Arus kas bersih diperoleh dari (digunakan untuk) aktivitas operasi

103.386.131

ARUS KAS DARI AKTIVITAS INVESTASI Penerimaan bunga Hasil penjualan aset tetap Perolehan aset tetap Pembayaran uang jaminan

( (

924.801 8.705.596) 14.507.947)

Arus kas bersih digunakan untuk aktivitas investasi

(

22.288.742)

664.332.364

( (

ARUS KAS DARI AKTIVITAS PENDANAAN Pembayaran hutang pihak hubungan istimewa Pembayaran utang bank Pembayaran wesel bayar Pembayaran hutang pembelian aset tetap Pembayaran hutang sewa pembiayaan Pembayaran hutang lainnya Arus kas bersih (digunakan) diperoleh dari aktivitas pendanaan KENAIKAN BERSIH DALAM KAS DAN SETARA KAS KAS DAN SETARA KAS PADA AWAL TAHUN KAS DAN SETARA KAS PADA AKHIR TAHUN

PENGUNGKAPAN TAMBAHAN Aktivitas investasi dan pendanaan yang tidak mempengaruhi kas: Aktivitas normal: Penambahan aset sewa pembiayaan melalui hutang sewa pembiayaan

CASH FLOWS FROM FINANCING ACTIVITIES ( ( ( (

(

5.043.605) 19.091.582) 497.364) 347.038) -

( ( ( (

2.800.343) 39.338.211 2.860.594) 1.342.746) 5.229.149)

Payment of due to related parties Proceeds from (payments of) bank loan (Payments of of notes payable Payments of loan for property, plant, and equipment Payments of finance leases Payments of other loans

27.105.379

Net cash flows (used in) provided by financing activities

56.117.800

575.321

NET INCREASE IN CASH AND CASH EQUIVALENT

2.143.393

1.568.072

CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR

58.261.193

2.143.393

CASH AND CASH EQUIVALENTS AT END OF YEAR

834.909

SUPPLEMENTAL DISCLOSURES Noncash investing and financing activities: Ordinary activities: Increase in leased assets through finance lease

24.979.589)

1.712.057

Lihat Catatan atas Laporan Keuangan Konsolidasi pada Ekshibit E terlampir yang merupakan bagian yang tidak terpisahkan dari Laporan Keuangan Konsolidasi secara keseluruhan

See accompanying Notes to Consolidated Financial Statements on Exhibit E which are an integral part of the Consolidated Financial Statements taken as a whole

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

1.

UMUM

Exhibit E PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

1. G E N E R A L

a. Pendirian dan Informasi Umum

a. Establishment and General Information

PT Jembo Cable Company Tbk (Perusahaan) didirikan dalam rangka Undang-Undang Penanaman Modal Dalam Negeri No. 6 tahun 1968 juncto No. 12 tahun 1970 pada tanggal 17 April 1973 berdasarkan akta Notaris No. 51 dari Lody Herlianto, S.H, Notaris di Jakarta. Anggaran dasar beserta perubahannya telah mendapat pengesahan dari Menteri Kehakiman Republik Indonesia dengan Surat Keputusan No. Y.A.5/106/17 tanggal 30 Maret 1974 dan telah diumumkan dalam Berita Negara Republik Indonesia No. 35 tanggal 3 Mei 1983, Tambahan No. 490 dan No. 491. Anggaran dasar tersebut telah mengalami beberapa kali perubahan terakhir diubah dengan akta Notaris No. 26 tanggal 27 Juni 2008 dari Ati Mulyati, S.H Notaris di Jakarta mengenai perubahan pengurus perusahaan dan perubahan seluruh anggaran dasar perusahaan guna menyesuaikan dengan Undangundang No. 40 Tahun 2007 tentang Perseroan Terbatas. Akta perubahan ini telah mendapat persetujuan Menteri Hukum dan Hak Asasi Manusia Republik Indonesia sebagaimana penerimaan laporan akta perubahan anggaran dasar perusahaan dengan Surat Keputusan No. AHU-56016.AH.01.02.Tahun 2008 tanggal 27 Agustus 2008.

PT Jembo Cable Company Tbk (the Company) was established based on Notarial deed No. 51 dated 17 April 1973 of Lody Herlianto, SH, Notary in Jakarta, under the framework of Domestic Capital Investment Law No. 6 of 1968 as amended by Law No. 12 of 1970. The Company’s articles of association together with the amendments were approved by the Minister of Justice of the Republic of Indonesia in his Decision Letter No. Y.A.5/106/17 dated 30 March 1974 and were published in the State Gazette No. 35 dated 3 May 1983, Supplement No. 490 and No. 491. The Company’s articles of association have been amended several times, the latest by Notarial deed No.26 dated 27 June 2008, of Ati Mulayti, S.H., Notary in Jakarta, regarding the exchange of the Company’s management’s and to conform with Law No. 40 Year 2007 regarding Limited Liability Companies. These amendments were approved by the Minister of Justice and Humand Rights of the Republic of Indonesia as reflected in the acknowledgment of notification on changes of the article of association of the Company in his Decision letter No. AHU-56016.AH.01.02.Tahun 2008 dated 27 August 2008.

Perusahaan berdomisili di Tangerang, propinsi Banten. Kantor terletak di Mega Glodok Kemayoran, Jakarta dan pabriknya terletak di Desa Gandasari, Kecamatan Jatiuwung, Kabupaten Tangerang.

The Company is domiciled in Tangerang, Banten. Its office located in Mega Glodok Kemayoran, Jakarta and its factory located in Desa Gandasari, Kecamatan Jatiuwung, Kabupaten Tangerang.

Sesuai dengan pasal 3 Anggaran Dasarnya, ruang lingkup kegiatan Perusahaan adalah bergerak dalam bidang usaha industri kabel listrik dan telekomunikasi. Kegiatan usaha komersial Perusahaan dimulai sejak tahun 1974. Jumlah karyawan Perusahaan rata-rata sejumlah 705 karyawan (2007: 625 karyawan).

In accordance with article 3 of the Company’s articles of association, the scope of its activities comprises manufacturing of electrical and telecommunications cables. The Company started commercial operations in 1974. The Company had average total number of employees of 705 (2007: 625 employees).

Susunan pengurus Perusahaan pada tanggal 31 Desember 2008 dan 2007 adalah sebagai berikut :

On 31 December 2008 and 2007, the Company’s management consisted of the following:

2008 Dewan Komisaris Komisaris Utama Komisaris Komisaris

Dewan Direksi Direktur Utama Direktur Direktur Direktur Direktur Direktur

Drs IGM Putera Astaman Hauw Ay Lan Drs Andreas Soewatjono Soedjianto, MBA

Santoso Mary Ang Santoso Antonius Benady Sugono Widjaya Cahayadi Santoso Nobuo Ninomiya

Board of Commissioners President Commissioner Commissioner Commissioner

Board of Directors President Director Director Director Director Director Director

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/2

Exhibit E/2 PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

1. U M U M (Lanjutan)

1.

a. Pendirian dan Informasi Umum (Lanjutan)

G E N E R A L (Continued) a. Establishment and General Information (Continued)

2007 Dewan Komisaris Komisaris Utama Komisaris Komisaris

Dewan Direksi Direktur Utama Direktur Direktur Direktur Direktur Direktur

Drs IGM Putera Astaman Hauw Ay Lan Drs Andreas Soewatjono Soedjianto, MBA

b.

Anak Perusahaan Perusahaan memiliki penyertaan saham sebesar 99,89% pada PT Jembo Energindo, anak perusahaan yang berkedudukan di Jakarta dengan bidang usaha industri pembangkit tenaga listrik. Anak perusahaan tersebut mulai berproduksi secara komersial pada tanggal 5 Agustus 2002. Pada tanggal 31 Desember 2008 jumlah aset sebesar Rp 73.638.755 (2007: Rp 79.087.539 ).

c.

Board of Directors President Director Director Director Director Director Director

Santoso Mary Ang Santoso Antonius Benady Sugono Widjaya Cahayadi Santoso Takashi Simmoto

Imbalan yang dibayarkan kepada Komisaris dan Direksi pada tahun 2008 Rp 1.254.000 (2007: Rp 1.269.500).

Penawaran Umum Efek Pada tanggal 9 Oktober 1992, Perusahaan memperoleh pernyataan efektif dari Ketua Badan Pengawas Pasar Modal (Bapepam) dengan suratnya No. S-1676/PM/1992 untuk melakukan penawaran umum atas 10.000.000 saham Perusahaan kepada masyarakat. Pada tanggal 18 Nopember 1992, saham tersebut dicatatkan pada Bursa Efek. Pada tanggal 31 Desember 2008 dan 2007, seluruh saham atau sejumlah 151.200.000 saham telah dicatatkan pada Bursa Efek Jakarta.

Board of Commissioners President Commissioner Commissioner Commissioner

Remuneration paid to Commissioners and Directors in 2007 amounted to Rp 1,254,000 (2007: Rp 1,269,500). b. Subsidiary The Company has 99.89% ownership interest in PT Jembo Energindo, a subsidiary which is located in Jakarta and engaged in providing electrical power. The subsidiary started commercial operations on 5 August 2002. On 31 December 2008, total assets amounted to Rp 73,638,755 (2007: Rp 79,087,539), respectively.

c. Public Offering of Shares On 9 October 1992, the Company obtained the Notification of Effectivity of Share Registration No. S-1676/PM/1992 from the Chairman of the Capital Market Supervisory Agency (Bapepam) for the Company’s public offering of 10,000,000 shares. On 18 November 1992, these shares were listed in the Jakarta Stock Exchange. On 31 December 2008 and 2007, all of the Company’s 151,200,000 shares were listed in the Jakarta Stock Exchange.

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/3

Exhibit E/3 PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

2. IKHTISAR KEBIJAKAN AKUNTANSI a.

b.

Penyajian Laporan Keuangan Konsolidasi

2.

SUMMARY POLICIES

OF

SIGNIFICANT

ACCOUNTING

a. Consolidated Financial Statement Presentation

Laporan keuangan konsolidasi disusun dengan menggunakan prinsip dan praktek akuntansi yang berlaku umum di Indonesia. Dasar penyusunan laporan keuangan konsolidasi, kecuali untuk laporan arus kas, adalah dasar akrual. Mata uang pelaporan yang digunakan untuk penyusunan laporan keuangan konsolidasi adalah mata uang Rupiah (Rp ), dan laporan keuangan konsolidasi tersebut disusun berdasarkan nilai historis, kecuali beberapa akun tertentu disusun berdasarkan pengukuran lain sebagaimana diuraikan dalam kebijakan akuntansi masing-masing akun tersebut. Seluruh angka dalam laporan keuangan konsolidasi ini kecuali dinyatakan lain, disajikan dalam ribuan Rupiah.

The consolidated financial statements have been prepared using accounting principles and reporting practices generally accepted in Indonesia. The consolidated financial statements, except for the consolidated statements of cash flows, are prepared under the accrual basis of accounting. The reporting currency used in the preparation of the financial statements is the Indonesian Rupiah, while the measurement basis used is the historical cost, except for certain accounts which are measured on the bases described in the related accounting policies. All of figures in the financial statements are expressed in thousands Rupiah, unless otherwise stated.

Laporan arus kas konsolidasi disusun dengan menggunakan metode langsung dengan mengelompokkan arus kas dalam aktivitas operasi, investasi dan pendanaan.

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

Prinsip Konsolidasi

b. Principles of Consolidation

Laporan keuangan konsolidasi menggabungkan laporan keuangan Perusahaan dan entitas yang dikendalikan oleh Perusahaan (dan anak perusahaan) yang disusun sampai dengan 31 Desember setiap tahunnya. Pengendalian dianggap ada apabila Perusahaan mempunyai hak untuk mengatur dan menentukan kebijakan finansial dan operasional dari investee untuk memperoleh manfaat dari aktivitasnya. Pengendalian juga dianggap ada apabila induk perusahaan memiliki baik secara langsung atau tidak langsung melalui anak perusahaan lebih dari 50% hak suara.

The consolidated financial statements incorporate the financial statements of the Company and entities controlled by the Company (and its subsidiary) made up to 31 December each year. Control is achieved where the Company has the power to govern the financial and operating policies of the investee entity so as to obtain benefits from its activities. Control is presumed to exist when the Company owns directly or indirectly through subsidiaries, more than 50% of the voting rights.

Pada saat akuisisi, aset dan kewajiban anak perusahaan diukur sebesar nilai wajarnya pada tanggal akuisisi.

On acquisition, the assets and liabilities of a subsidiary are measured at their fair values at the date of acquisition.

Hak pemegang saham minoritas dinyatakan sebesar bagian minoritas dari biaya perolehan historis aset bersih. Hak minoritas akan disesuaikan untuk bagian minoritas dari perubahan ekuitas.

The interest of the minority shareholders is stated at the minority’s proportion of the historical cost of the net assets. The minority interest is subsequently adjusted for the minority’s share of movements in equity.

Penyesuaian dapat dilakukan terhadap laporan keuangan anak perusahaan agar kebijakan akuntansi yang digunakan sesuai dengan kebijakan akuntansi yang digunakan oleh Perusahaan.

Where necessary, adjustments are made to the financial statements of the subsidiaries to bring the accounting policies used in line with those used by the Company.

Seluruh transaksi antar perusahaan, saldo, penghasilan dan beban dieliminasi pada saat konsolidasi.

All intra-group transactions, balances, income and expenses are eliminated on consolidation.

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/4 PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

2.

IKHTISAR KEBIJAKAN AKUNTANSI (Lanjutan)

c.

Transaksi dan Saldo Dalam Mata Uang Asing

Exhibit E/4 PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

2. SUMMARY OF SIGNIFICANT POLICIES (Continued)

c. Foreign Currency Transactions and Balances

Transaksi-transaksi selama tahun berjalan dalam mata uang asing dicatat dengan kurs yang berlaku pada saat terjadinya transaksi. Pada tanggal neraca, aset dan kewajiban moneter dalam mata uang asing disesuaikan untuk mencerminkan kurs yang berlaku pada tanggal tersebut. Keuntungan atau kerugian kurs yang timbul dikreditkan atau dibebankan dalam laporan laba rugi tahun yang bersangkutan. d.

Transaksi Hubungan Istimewa

Transactions during the year involving foreign currencies are recorded at the rates of exchange prevailing at the time the transactions are made. At balance sheet date, monetary assets and liabilities denominated in foreign currencies are adjusted to reflect the rates of exchange prevailing at that date. The resulting gains or losses are reflected in the current operations. d. Transaction with Related Parties

Perusahaan mempunyai transaksi dengan pihak yang mempunyai hubungan istimewa. Pihak yang mempunyai hubungan istimewa adalah sebagaimana didefinisikan dalam Pernyataan Standar Akuntansi Keuangan (PSAK) No. 7. e.

Kas dan Setara Kas

The Company has transaction with related parties. A related party relationship is defined under Statement of Financial Accounting Standards (SFAS) No. 7.

e.

Kas dan setara kas terdiri dari kas, bank dan semua investasi yang jatuh tempo dalam waktu tiga bulan atau kurang dari tanggal perolehannya dan yang tidak dijaminkan serta tidak dibatasi penggunaannya. f.

Penyisihan Piutang Ragu-Ragu

Persediaan

f. Allowance for Doubtful Accounts Allowance for doubtful accounts is provided based on a review of the status of the individual receivable accounts at the end of the year. g.

Persediaan dinyatakan berdasarkan biaya perolehan atau nilai realisasi bersih, mana yang lebih rendah. Biaya perolehan ditentukan dengan metode rata-rata tertimbang. h.

Biaya Dibayar Dimuka

Investasi Saham Investasi dalam efek yang tersedia untuk dijual dinyatakan sebesar nilai wajarnya. Keuntungan dan kerugian yang berasal dari perubahan nilai wajar diakui langsung dalam ekuitas sampai pada saat efek tersebut dijual atau telah terjadi penurunan nilai. Pada saat itu, keuntungan atau kerugian kumulatif yang sebelumnya telah diakui dalam ekuitas dibebankan dalam laba rugi tahun berjalan.

Inventories Inventories are stated at cost or net realizable value, whichever is lower. Cost is determined using the weighted average method.

h. Prepaid Expenses

Biaya dibayar di muka diamortisasi selama manfaat masing-masing biaya dengan menggunakan metode garis lurus. i.

Cash and Cash Equivalents Cash and cash equivalents consist of cash on hand and in banks and all unrestricted investments with maturities of three months or less from the dates of placement.

Perusahaan menetapkan penyisihan piutang ragu-ragu berdasarkan penelaahan terhadap masing-masing akun piutang pada akhir tahun. g.

ACCOUNTING

Prepaid expenses are amortized over their beneficial periods using the straight-line method.

i.

Investments in Shares of Stock Investments in available for sale securities are stated at fair value. Unrealized gains or losses from the increase or decrease in fair value are recorded as part of equity and recognized as income or expenses of the period when realized.

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/5

Exhibit E/5 PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

2.

IKHTISAR KEBIJAKAN AKUNTANSI (Lanjutan)

j.

2. SUMMARY OF SIGNIFICANT POLICIES (Continued)

Aset Tetap

j.

ACCOUNTING

Property, Plant and Equipment

Sebelum tanggal 1 Januari 2008, aset tetap dinyatakan sebesar biaya perolehan dikurangi akumulasi penyusutan (kecuali tanah yang tidak disusutkan). Efektif 1 Januari 2008, Perusahaan menerapkan PSAK No. 16 (Revisi 2007), “Aset Tetap”, yang menggantikan PSAK No. 16 (1994), “Aktiva Tetap dan Aktiva Lain-lain” dan PSAK No. 17 (1994), “Akuntansi Penyusutan”. Berdasarkan PSAK No. 16 (Revisi 2007), suatu entitas harus memilih model biaya (cost model) atau model revaluasi (revaluation model) sebagai kebijakan akuntansi pengukuran atas aset tetap. Perusahaan telah memilih untuk menggunakan model biaya sebagai kebijakan akuntansi pengukuran aset tetapnya. Penerapan PSAK revisi ini tidak menimbulkan dampak yang signifikan terhadap laporan keuangan Perusahaan.

Prior to January 1, 2008, property and equipment were stated at cost less accumulated depreciation (except for land that is not depreciated). Effective 1 January, 2008, the Company applied SFAS No. 16 (Revised 2007), “Fixed Assets”, which supersedes SFAS No. 16 (1994), “Fixed Assets and Other Assets”, and SFAS No. 17 (1994), “Accounting for Depreciation”. Under PSAK No. 16 (Revised 2007), an entity shall choose between the cost model and revaluation model as the accounting policy for its property and equipment measurement. The Company has chosen the cost model as the accounting policy for its property and equipment measurement. The adoption of this revised SFAS did not have significant effect in the Company’s financial statements.

Aset tetap, kecuali aset tertentu yang dinilai kembali, dinyatakan berdasarkan biaya perolehan setelah dikurangi akumulasi penyusutan. Aset tertentu telah dinilai kembali berdasarkan hasil penilaian yang dilakukan oleh penilai independen sesuai dengan peraturan pemerintah yang berlaku. Peningkatan nilai aset karena penilaian kembali dikreditkan pada selisih penilaian kembali aset tetap dalam akun ekuitas.

Property, plant and equipment are stated at cost, except for certain revalued assets, less accumulated depreciation. Certain assets were revalued based on an independent appraisal made in accordance with government regulations. Revaluation increment in property, plant and equipment was credited to a separate account under equity.

Aset tetap, kecuali tanah, disusutkan dengan menggunakan metode garis lurus, berdasarkan taksiran masa manfaat ekonomis aset tetap, sebagai berikut:

Property, plant and equipment, except for land, depreciated by using the straight-line method, based on the estimated useful lives of the assets, as follows:

Tahun/ Years Bangunan Instalasi listrik M esin Peralatan pabrik Peralatan pembangkit listrik Peralatan laboratorium Peralatan kantor Kendaraan bermotor

Sesuai dengan PSAK No. 47 tentang “Akuntansi Tanah”, perolehan tanah setelah tanggal 1 Januari 1999 dinyatakan berdasarkan biaya perolehan dan tidak diamortisasi. Biaya-biaya tertentu sehubungan dengan perolehan atau perpanjangan hak pemilikan tanah ditangguhkan dan disajikan secara terpisah dari biaya perolehan tanah. Beban ditangguhkan tersebut diamortisasi selama periode hak atas tanah atau umur ekonomis tanah, mana yang lebih pendek.

8 - 20 5 5 - 15 4 - 15 8 - 15 4-5 4 4

Buildings Electrical installations Machinery Factory equipment Electrical equipment Laboratory equipment Office equipment Motor vehicles

In accordance with SFAS No. 47 concerning “Accounting for Land”, acquisitions of land after 1 January 1999 are stated at cost and not amortized. Specific costs associated with the acquisition or renewal of land titles are deferred and presented separately from the cost of the land. Such deferred costs are amortized over the legal term of the landrights or economic life of the land, whichever is shorter.

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/6 PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

2. IKHTISAR KEBIJAKAN AKUNTANSI (Lanjutan)

j.

Aset tetap (Lanjutan)

Exhibit E/6 PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

2. SUMMARY OF SIGNIFICANT POLICIES (Continued)

j.

ACCOUNTING

Property, Plant and Equipment (Continued)

Tanah dinyatakan berdasarkan biaya perolehan dan tidak disusutkan.

Land is stated at cost and is not depreciated.

Bila nilai tercatat suatu aset melebihi taksiran jumlah yang dapat diperoleh kembali (estimated recoverable amount) maka nilai tersebut diturunkan ke jumlah yang dapat diperoleh kembali tersebut, yang ditentukan sebagai nilai tertinggi antara harga jual neto dan nilai pakai. Penurunan nilai aset tersebut diakui sebagai kerugian penurunan nilai aset dan dibebankan sebagai kerugian tahun berjalan. Jika terjadi pemulihan kerugian penurunan nilai maka nilai tercatat aset yang telah diturunkan harus dinaikkan kembali menjadi sebesar nilai yang dapat diperoleh kembali dan kenaikan nilai tercatat aset tersebut tidak boleh melebihi nilai tercatat yang seharusnya diakui apabila pada tahun sebelumnya tidak ada pengakuan kerugian penurunan nilai aset. Pemulihan nilai tercatat tersebut diakui sebagai pemulihan penurunan nilai aset dan diakui sebagai keuntungan tahun berjalan.

When the carrying amount of an asset exceeds its estimated recoverable amount, the asset is written down to its estimated recoverable amount, which is determined as the higher of net selling price or value in use. Impairment of asset is recognized as loss on impairment which is charged to current operations. If a reversal of an impairment has occurred, the carrying amount of the asset is increased to its recoverable amount, subject to the limit that the increased carrying amount should not exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset in prior years. The reversal of an impairment loss is recognized as income in the current year.

Beban pemeliharaan dan perbaikan dibebankan pada laporan laba rugi konsolidasi pada saat terjadinya; pengeluaran yang memperpanjang masa manfaat atau memberi manfaat ekonomi di masa yang akan datang dalam bentuk peningkatan kapasitas, mutu produksi atau peningkatan standar kinerja dikapitalisasi. Aset tetap yang sudah tidak digunakan lagi atau yang dijual dikeluarkan dari kelompok aset tetap berikut akumulasi penyusutannya. Keuntungan atau kerugian dari penjualan aset tetap tersebut dibukukan dalam laporan laba rugi konsolidasi pada tahun yang bersangkutan.

The cost of maintenance and repairs is charged to operations as incurred; expenditures which extend the useful life of the asset or result in increased future economic benefits such as increase in capacity and improvement in the quality of output or standard of performance are capitalized. When assets are retired or otherwise disposed of, their carrying values and the related accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in the current operations.

Sesuai dengan PSAK No. 48 tentang “Penurunan Nilai Aset”, jumlah aset yang dapat diperoleh kembali diestimasi pada saat kejadian-kejadian atau perubahanperubahan mengindikasikan bahwa nilai tercatat aset mungkin tidak dapat diperoleh kembali. Penurunan nilai aset, jika ada, diakui sebagai rugi pada laporan laba rugi tahun berjalan.

In accordance with SFAS No. 48 concerning “Impairment in Asset Value”, the net recoverable amount of an asset should be estimated whenever events or changes in circumstances indicate that its carrying amount may not be fully recoverable. Impairment in asset value, if any, is recognized as a loss in the statements of income for the year.

k. Sewa Pembiayaan

k. Finance Leases

Transaksi pembiayaan dikelompokkan sebagai sewa pembiayaan apabila memenuhi kriteria sebagai berikut:

Lease transactions are recorded as fiance leases when the following criteria are met:

1) Penyewa pembiayaan memiliki hak opsi untuk membeli aset yang disewa pada akhir masa sewa pembiayaan dengan harga yang telah disetujui bersama pada saat dimulainya perjanjian pembiayaan.

1) The lessee has the option to purchase the leased asset at the end of the lease term at a price mutually agreed upon at the inception of the lease agreement.

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/7 PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

2. IKHTISAR KEBIJAKAN AKUNTANSI (Lanjutan)

k. Sewa Pembiayaan (Lanjutan)

l.

Exhibit E/7 PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

2. SUMMARY OF SIGNIFICANT POLICIES (Continued)

ACCOUNTING

k. Finance Leases (Continued)

2) Seluruh pembayaran berkala yang dilakukan oleh penyewa pembiayaan ditambah dengan nilai sisa dapat menutup pengembalian biaya perolehan barang modal yang disewa beserta bunganya sebagai keuntungan perusahaan sewa pembiayaan.

2) All periodic lease payments made by the lessee plus residual value shall represent a return of the cost of leased asset and interest there on as the profit of the lessor.

3) Masa sewa pembiayaan minimum dua tahun.

3) Minimum finance lease period is two years.

Transaksi sewa pembiayaan yang tidak memenuhi kriteria tersebut diatas dikelompokkan sebagai transaksi sewa menyewa biasa (operating lease).

Lease transactions that do not meet the above criteria are recorded as operating leases.

Aset dan kewajiban sewa pembiayaan dicatat sebesar nilai tunai dari seluruh pembayaran sewa pembiayaan ditambah nilai sisa (harga opsi). Aset sewa pembiayaan disusutkan dengan metode dan berdasarkan taksiran masa manfaat ekonomis yang sama dengan aset tetap (lihat kebijakan akuntansi mengenai aset tetap – pemilikan langsung).

Leased assets and finance lease under the finance lease method are recorded at the present value of the total installments plus residual value (option price). Leased assets are depreciated using the same method and estimated useful lives used for directly acquired property, plant and equipment (see accounting policy for property, plant and equipment- direct acquisitions).

Pengakuan Pendapatan dan Beban

l. Revenue and Expenses Recognition

Penjualan lokal diakui pada saat penyerahan barang kepada pelanggan, sedangkan penjualan ekspor diakui pada saat barang dikapalkan (F.O.B. Shipping Point) dan hak kepemilikan berpindah ke pelanggan.

Local sales are recognized when the goods are delivered to the customers, while export sales are recognized when the goods are shipped (F.O.B Shipping Point) and title has passed to the customer.

Penjualan tenaga listrik oleh anak perusahaan diakui pada saat penyerahan atau supply tenaga listrik PT Pelayanan Listrik Nasional (PLN) Batam.

Energy sales by subsidiary are recognized when it is delivered or energy is supplied to PT Pelayanan Listrik Nasional (PLN) Batam.

Beban diakui sesuai manfaatnya pada tahun yang bersangkutan (accrual basis).

Expenses are recognized when incurred (accrual basis).

m. Imbalan Pasca-Kerja

m. Post-Employment Benefits

Perusahaan memberikan imbalan pasca-kerja imbalan pasti untuk karyawan sesuai dengan Undang-Undang Ketenagakerjaan No.13/2003 dan PSAK No, 24 (Revisi 2004), “Imbalan Kerja”. Tidak terdapat pendanaan yang disisihkan oleh Perusahaan sehubungan dengan imbalan pasca-kerja ini.

The Company provides defined benefit post-employment benefits to its employees in accordance with Labor Law No. 13/2003 and SFAS No. 24 (Revised 2004), “Employee benefit”. No funding has been made to this defined benefit plan.

Perhitungan imbalan-pasca kerja menggunakan metode Projected Unit Credit. Akumulasi keuntungan dan kerugian aktuarial bersih yang belum diakui yang melebihi 10% dari nilai kini kewajiban imbalan pasti diakui dengan metode garis lurus selama rata-rata sisa masa kerja yang diperkirakan dari para pekerja dalam program tersebut. Biaya jasa lalu dibebankan langsung apabila imbalan tersebut menjadi hak atau vested, dan sebaliknya akan diakui sebagai beban dengan metode garis lurus selama periode rata-rata sampai imbalan tersebut menjadi vested.

The cost of providing post-employment benefits is determined using the Projected Unit Credit Method. The accumulated unrecognized actuarial gains and losses that exceed 10% of the present value of the Company’s defined benefit obligations is recognized on straight-line basis over the expected average remaining working lives of the participating employees. Past service cost is recognized immediately to the extent that the benefits are already vested, and otherwise is amortized on a straight-line basis over the average period until the benefits become vested.

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/8 PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

2. IKHTISAR KEBIJAKAN AKUNTANSI (Lanjutan)

m. Imbalan-Pasca Kerja (Lanjutan)

Exhibit E/8 PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

2. SUMMARY OF SIGNIFICANT POLICIES (Continued)

m. Post-Employment Benefits (Continued)

Jumlah yang diakui sebagai kewajiban imbalan pasti di neraca merupakan nilai kini kewajiban imbalan pasti disesuaikan dengan keuntungan dan kerugian actuarial yang belum diakui, dan biaya jasa lalu yang belum diakui.

n. Pajak Penghasilan

ACCOUNTING

The benefit obligation recognized in the balance sheet represents the present value of the defined benefit obligation, as adjusted for unrecognized actuarial gains and losses and unrecognized past service cost.

n. Income Tax

Beban pajak kini ditentukan berdasarkan laba kena pajak dalam tahun yang bersangkutan yang dihitung berdasarkan tarif pajak yang berlaku.

Current tax expense is computed based on taxable income for the current year and measured at applied tax rates.

Aset dan kewajiban pajak tangguhan diakui atas konsekuensi pajak periode mendatang yang timbul dari perbedaan jumlah tercatat aset dan kewajiban menurut laporan keuangan dengan dasar pengenaan pajak aset dan kewajiban tersebut. Kewajiban pajak tangguhan diakui untuk semua perbedaan temporer kena pajak dan aset pajak tangguhan diakui untuk perbedaan temporer yang boleh dikurangkan, sepanjang besar kemungkinan dapat dimanfaatkan untuk mengurangi laba kena pajak pada masa datang.

Deferred income tax is recognized for all temporary differences at the balance sheet date between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes. Deferred tax liabilities are recognized for all taxable temporary differences and deferred tax assets are recognized for all deductible temporary differences and carry-forward of unused tax losses, to the extent that it is probable that taxable income will be available against which the deductible temporary differences and unused tax losses can be utilized.

Pajak tangguhan diukur dengan menggunakan tarif pajak yang berlaku atau secara substansial telah berlaku pada tanggal neraca. Pajak tangguhan dibebankan atau dikreditkan dalam laporan laba rugi, kecuali pajak tangguhan yang dibebankan atau dikreditkan langsung ke ekuitas.

Deferred tax is calculated at the tax rates that have been enacted or substantively enacted by the balance sheet date. Deferred tax is charged or credited in the statement of income, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

Aset dan kewajiban pajak tangguhan disajikan di neraca, kecuali aset dan kewajiban pajak tangguhan untuk entitas yang berbeda atas dasar kompensasi sesuai dengan penyajian aset dan kewajiban pajak kini.

Deferred tax assets and liabilities are offset in the balance sheet, except if these are for different legal entities, in the same manner the current tax assets and liabilities are presented.

o. Laba per Saham

o. Earnings per Share

Laba per saham dasar dihitung dengan membagi laba bersih residual dengan jumlah rata-rata tertimbang saham yang beredar pada tahun yang bersangkutan.

p. Informasi Segmen Informasi segmen disusun sesuai dengan kebijakan akuntansi yang dianut dalam penyusunan dan penyajian laporan keuangan konsolidasi. Bentuk primer pelaporan segmen adalah segmen usaha sedangkan segmen sekunder adalah segmen geografis.

Basic earning per share is computed by dividing net income by the weighted average number of shares outstanding during the year.

p.

Segment Information Segment information is prepared using the accounting policies adopted for preparing and presenting the consolidated financial statements. The primary reporting segment is based on business segments, while secondary segment is based on geographical segments.

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/9 PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

2. IKHTISAR KEBIJAKAN AKUNTANSI (Lanjutan)

p. Informasi Segmen (Lanjutan)

Exhibit E/9 PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

2. SUMMARY OF SIGNIFICANT POLICIES (Continued)

ACCOUNTING

p. Segment information (Continued)

Segmen usaha adalah komponen perusahaan yang dapat dibedakan dalam menghasilkan produk atau jasa (baik produk atau jasa individual maupun kelompok produk atau jasa terkait) dan komponen itu memiliki risiko dan imbalan yang berbeda dengan risiko dan imbalan segmen lain.

A business segment is a distinguishable component of an enterprise that is engaged in providing an individual product or service or a group of related products or services that are subject to risks and returns that are different from those of other business segments.

Segmen geografis adalah komponen perusahaan yang dapat dibedakan dalam menghasilkan produk atau jasa pada lingkungan (wilayah) ekonomi tertentu dan komponen itu memiliki risiko dan imbalan yang berbeda dengan risiko dan imbalan pada komponen yang beroperasi pada lingkungan (wilayah) ekonomi lain.

A geographical segment is a distinguishable component of an enterprise that is engaged in providing products or services within a particular economic environment and that is subject to risks and returns that are different from those of components operating in other economic environments.

Aset dan kewajiban yang digunakan bersama dalam satu segmen atau lebih dialokasikan kepada setiap segmen jika, dan hanya jika, pendapatan dan beban yang terkait dengan aset tersebut juga dialokasikan kepada segmensegmen tersebut.

Assets and liabilities that relate jointly to two or more segments are allocated to their respective segments if, and only if, their related revenues and expense also are allocated to those segments and the relative autonomy of that segments.

q. Penggunaaan Estimasi Penyusunan laporan keuangan konsolidasi sesuai dengan prinsip akuntansi yang berlaku umum mengharuskan manajemen membuat estimasi dan asumsi yang mempengaruhi jumlah aset dan kewajiban yang dilaporkan dan pengungkapan aset dan kewajiban kontijensi pada tanggal laporan keuangan serta jumlah pendapatan dan beban selama periode pelaporan. Realisasi dapat berbeda dengan jumlah yang diestimasikan.

q. Use of Estimates The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in Indonesia requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/10

Exhibit E/10 PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

3. KAS DAN SETARA KAS

3. 2008

Kas Bank Rupiah PT Bank M andiri (Persero), Tbk PT Bank Rakyat Indonesia (Persero), Tbk PT Bank Central Asia, Tbk PT Bank Agris (d/h PT Bank Finconesia) PT CIM B Niaga Tbk Standard Chartered Bank PT Bank Akita PT Bank Panin, Tbk PT Bank Sinarmas PT Bank Negara Indonesia (Persero), Tbk PT Bank Jasa Jakarta Bank UOB Indonesia PT Bank Danamon Indonesia, Tbk PT OCBC NISP, Tbk PT Bank Internasional Indonesia, Tbk Eu r o PT Bank Agris (d/h PT Bank Finconesia) Dolar Amerika Serikat Standard Chartered Bank PT Bank M andiri (Persero), Tbk PT Bank Danamon Indonesia, Tbk DBS Singapura Bank UOB Indonesia PT Bank Agris (d/h PT Bank Finconesia) PT Bank Rakyat Indonesia (Persero), Tbk PT Bank Internasional Indonesia, Tbk Dolar Singapura PT CIM B Niaga Tbk PT Bank M andiri (Persero), Tbk DBS Singapura Poundsterling Inggris PT Bank M andiri (Persero), Tbk Yen Jepang PT Bank M andiri (Persero), Tbk

Deposito Rupiah Dolar Amerika Serikat

Jumlah

192.312

CASH AND CASH EQUIVALENTS 2007 75.819

8.668.371 149.841 68.003

46.928 237.338

61.300 41.018 25.252 24.481 24.452 17.096 8.945 7.995 3.840 1.919 1.094 -

58.517 46.582 22.288 16.512 621.524 103.559 11.075 4.880 268 2.599

6.717.957

181.114

16.913.067 6.479.306 3.285.987 418.630 147.478

18.533 6.169 60.779

47.846 3.479 -

79.792 3.275 7.249

45.505 32.059 -

9.675 11.702 29.454

4.150.909

-

61.038

-

47.406.869

1.579.812

8.607.096 2.054.916

199.070 288.692

10.662.012

487.762

58.261.193

2.143.393

Cash Bank Rupiah PT Bank Mandiri (Persero), Tbk PT Bank Rakyat Indonesia (Persero), Tbk PT Bank Central Asia, Tbk PT Bank Agris (formerly PT Bank Finconesia) PT CIMB Niaga Tbk Standard Chartered Bank PT Bank Akita PT Bank Panin, Tbk PT Bank Sinarmas PT Bank Negara Indonesia (Persero), Tbk PT Bank Jasa Jakarta Bank UOB Indonesia PT Bank Danamon Indonesia, Tbk PT OCBC NISP, Tbk PT Bank Internasional Indonesia, Tbk E u ro PT Bank Agris (formerly Finconesia) U.S Dollar Standard Chartered Bank PT Bank Mandiri (Persero), Tbk PT Bank Danamon Indonesia, Tbk DBS Singapore Bank UOB Indonesia PT Bank Agris (formerly PT Bank Finconesia) PT Bank Rakyat Indonesia (Persero), Tbk PT Bank Internasional Indonesia, Tbk Singapore Dollar PT CIMB Niaga Tbk PT Bank Mandiri (Persero), Tbk DBS Singapore GBP PT Bank Mandiri (Persero), Tbk Yen Japan PT Bank Mandiri (Persero), Tbk

Deposits Rupiah US Dollar

Total

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/11

Exhibit E/11 PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

3. KAS DAN SETARA KAS (Lanjutan)

3.

Tingkat bunga per tahun Rupiah Dolar Amerika Serikat

2008

2007

6,50% 2,75%

7,70% 4,50%

4. PIUTANG USAHA

4.

a. Jumlah piutang usaha berdasarkan pelanggan adalah sebagai berikut

Pihak ketiga Pelanggan Dalam Negeri Pelanggan Luar Negeri PT (Persero) Perusahaan Listrik Negara PT Pelayanan Listrik Nasional-Batam

Penyisihan piutang ragu-ragu

(

CASH AND CASH EQUIVALENTS (Continued)

TRADE RECEIVABLES a. Total trade receivables by customers are as follows:

2008

2007

166.312.700 94.181.065 2.746.156 -

91.028.424 30.095.640 19.977.684 2.703.665

263.239.922

143.805.413

1.605.769)

(

1.418.419)

261.634.153

142.386.994

52.423.222

70.484.383

314.057.375 Jumlah b. Jumlah piutang usaha berdasarkan umur (hari) adalah sebagai berikut

212.871.377

Pihak hubungan istimewa (Catatan 28)

Penyisihan p iutang ragu-ragu Bersih

(

23.088.583 49.970.895 62.053.852 23.368.086 21.059.925 34.748.455

315.663.144

214.289.796

314.057.375

Allowance for doubtful accounts

Related parties (Note 28)

2007

199.192.575 77.382.700 7.169.249 9.486.170 6.950.143 15.482.307

1.605.769)

Third parties Domestic Customers Foreign Customers PT (Persero) Perusahaan Listrik Negara PT Pelayanan Listrik Nasional-Batam

Total b. Total trade receivables by age (days) areas are as follows:

2008 Belum jatuh temp o Lewat jatuh temp o 1 s/d 30 hari Lewat jatuh temp o 31 s/d 60 hari Lewat jatuh temp o 61 s/d 90 hari Lewat jatuh temp o 91 s/d 120 hari Lewat jatuh temp o > 120 hari

Interest rate per annum Rupiah US Dollar

(

1.418.419) 212.871.377

Not yet due 1 - 30 days past due 31 - 60 days past due 61 - 90 days past due 91 - 120 days past due More than 120 days past due

Allowance for doubtful accounts N et

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/12

Exhibit E/12 PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

4. PIUTANG USAHA (Lanjutan)

4.

c. Jumlah piutang usaha berdasarkan mata uang adalah sebagai berikut

Rupiah Dolar Amerika Serikat Pounsterling Inggris Dolar Singapura Euro

Penyisihan piutang ragu-ragu

(

Bersih

M utasi penyisihan piutang ragu-ragu Saldo awal Penambahan Penghapusan Saldo akhir

(

TRADE RECEIVABLES (Continued) c. Total trade receivables by currency are as follows:

2008

2007

171.439.523 104.687.778 11.231.939 8.497.520 19.806.384

116.004.147 59.141.351 33.923.959 5.220.339

315.663.144

214.289.796

1.605.769)

(

1.418.419)

314.057.375

212.871.377

2008

2007

1.418.419 747.700 560.350)

939.965 1.163.057 684.603)

1.605.769

(

1.418.419

Rupiah U.S Dollar GBP Singapore Dollar Euro

Allowance for doubtful accounts N et

Changes in the allowance for doubtful accounts: Beginning balance Provisions Write-off Ending balance

Manajemen berpendapat bahwa penyisihan piutang ragu-ragu atas piutang pada pihak ketiga adalah cukup untuk menutupi kerugian yang mungkin timbul dari tidak tertagihnya piutang tersebut, sedangkan terhadap piutang pada pihak yang mempunyai hubungan istimewa tidak diadakan penyisihan piutang ragu-ragu karena manajemen berpendapat seluruh piutang tersebut dapat ditagih.

Management believes that the allowance for doubtful receivables from third parties is adequate to cover possible losses on uncollectible accounts. No allowance for doubtful accounts was provided on receivables from related parties as management believes that all such receivables are collectible.

Manajemen juga berpendapat bahwa tidak terdapat risiko yang terkonsentrasi secara signifikan atas piutang kepada pihak ketiga.

Management also believes that there are no significant concentrations of credit risk in third party receivables.

Piutang usaha dijadikan jaminan atas pinjaman PT Bank Mandiri (Persero), Tbk dan PT Bank Rakyat Indonesia (Persero), Tbk (Catatan 10 dan 16).

The accounts receivable are used as a collateral for the loan from PT Bank Mandiri (Persero), Tbk and PT Bank Rakyat Indonesia (Persero), Tbk (Notes 10 and 16).

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/13

Exhibit E/13 PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

5. PERSEDIAAN

5. INVENTORIES 2008

Barang jadi Barang dalam proses Bahan baku Suku cadang Bahan pembungkus Jumlah

2007

62.306.197 33.704.541 35.630.853 8.283.895 2.061.804

44.192.565 17.914.805 47.267.647 6.517.923 1.473.070

Finished goods Work in process Raw materials Spare parts Packaging materials

141.987.291

117.366.010

Total

Pada tanggal 31 Desember 2008, seluruh persediaan telah diasuransikan terhadap segala risiko kepada konsorsium asuransi yang dikoordinasi oleh PT Arthagraha General Insurance dengan jumlah pertanggungan sebesar Rp 100 miliar (angka penuh). Manajemen berpendapat bahwa nilai pertanggungan tersebut cukup untuk menutup kemungkinan kerugian yang dialami Perusahaan dan anak perusahaan.

On 31 December 2008, inventories were insured with insurance consorcium which was coordinated by PT Arthagraha General Insurance against all risks for Rp 100 billion (full amount). Management believes that the insurance coverage is adequate to cover possible risk of losses to the Company and its subsidiary.

Perusahaan tidak membentuk penyisihan penurunan nilai persediaan karena manajemen berpendapat bahwa seluruh persediaan masih dapat dijual dengan harga di atas nilai tercatat persediaan.

The Company has not provided an allowance for decline in value of inventories because management believes that all of inventories can be sold at a price above the recorded value.

Persediaan dijadikan jaminan atas pimjaman PT Bank Mandiri (Persero), Tbk dan PT Bank Rakyat Indonesia (Persero), Tbk (Catatan 10 dan 16).

Inventories are used as a collateral for the loan from PT Bank Mandiri (Persero), Tbk and PT Bank Rakyat Indonesia (Persero), Tbk (Notes 10 and 16).

6. UANG MUKA PEMBELIAN

6. 2008

Pembelian bahan baku dan pembantu Pihak ketiga Uang muka impor Uang muka lain-lain Jumlah

PURCHASE ADVANCES 2007

9.166.847 295.782 2.426.632

15.388.990 3.065.469 1.710.668

Purchases of raw material and supplies Third parties Advance for imported Other advances

11.889.262

20.165.127

Total

7. INVESTASI DALAM SAHAM

7. 2008

INVESTMENTS IN SHARES OF STOCK 2007

Biaya perolehan Saham PT Tembaga M ulia Semanan, Tbk sebanyak 300.000 lembar Laba y ang belum direalisasi

400.000 1.100.000

400.000 1.250.000

Historical cost PT Tembaga Mulia Semanan, Tbk amounted 300,000 shares Unrealized gain

Nilai Pasar

1.500.000

1.650.000

Market value

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/14 PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

8. ASET TETAP

2008

Exhibit E/14 PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

8. PROPERTY, PLANT AND EQUIPMENT

Saldo awal/ Beginning

Penambahan/ Pengurangan/ Saldo akhir/ Additions Disposals Ending balance

Biaya perolehan Pemilikan langsung Tanah Bangunan Instalasi listrik Mesin Peralatan pabrik Peralatan pembangkit listrik Peralatan laboratorium Peralatan kantor Kendaraan bermotor Sewa pembiayaan Kendaraan bermotor

12.838.199 25.326.041 27.700.333 162.341.628 25.141.063 8.895.902 6.991.673 11.740.626 5.673.538

575.860 2.059.366 3.192.077 1.569.842 29.510 22.744 1.256.197 -

1.240.259 68.600 169.350

13.414.059 27.385.407 27.700.333 164.293.446 26.642.305 8.925.412 7.014.417 12.996.823 5.504.188

3.705.819

1.712.057

556.750

4.861.126

Costs Direct ownership Land Buildings Electrical and machinery Machinery Factory equipment Electrical equipment Laboratory equipment Office equipment Motor vehicles Finance lease Motor vehicles

J uml ah

290.354.822

10.417.653

2.034.959

298.737.515

To t a l

Akumulasi penyusutan Pemilikan langsung Bangunan Instalasi listrik Mesin Peralatan pabrik Peralatan pembangkit listrik Peralatan laboratorium Peralatan kantor Kendaraan bermotor Sewa pembiayaan Kendaraan bermotor

12.534.087 14.997.564 121.590.752 23.850.327 2.810.945 5.764.249 8.832.105 4.162.242

1.282.021 1.013.368 5.999.598 936.260 305.867 430.845 1.866.600 264.271

1.240.259 34.300 169.350

13.816.108 16.010.932 126.350.091 24.752.287 3.116.812 6.195.094 10.698.705 4.257.163

1.906.048

2.062.329

556.750

3.411.627

Accumulated depreciation Direct ownership Buildings Electrical and machinery Machinery Factory equipment Electrical equipment Laboratory equipment Office equipment Motor vehicles Finance lease Motor vehicles

J uml ah

196.448.316

14.161.159

2.000.659

208.608.818

Total

90.128.697

Carrying amount

Nilai tercatat

93.906.506

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/15 PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

8. ASET TETAP (Lanjutan)

2007

PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

8. PROPERTY, PLANT AND EQUIPMENT (Continued)

Saldo awal/ Penambahan/ Pengurangan/ Saldo akhir/ Beginning Additions Disposals Ending balance balance

Biaya perolehan Pemilikan langsung Tanah Bangunan Instalasi listrik Mesin Peralatan pabrik Peralatan pembangkit listrik Peralatan laboratorium Peralatan kantor Kendaraan bermotor Sewa pembiayaan Kendaraan bermotor

12.486.510 25.136.932 27.702.033 160.696.248 25.082.174 7.960.955 6.385.573 11.359.621 6.401.299

351.689 189.082 3.688.806 59.580 934.947 606.100 381.005 618.800

3.297.636

408.183

J u ml ah

286.508.981

7.238.192

Akumulasi penyusutan Pemilikan langsung Bangunan Instalasi listrik Mesin Peralatan pabrik Peralatan pembangkit listrik Peralatan laboratorium Peralatan kantor Kendaraan bermotor Sewa pembiayaan Kendaraan bermotor

11.284.347 13.545.022 119.150.810 23.206.845 2.280.215 5.210.316 6.377.955 4.694.492

1.249.740 1.454.242 4.483.368 644.173 530.730 553.933 2.454.150 814.311

1.071.139

834.909

J u ml ah

186.821.141

13.019.556

Nilai tercatat

Exhibit E/15

99.687.840

Perusahaan dan anak perusahaan memiliki beberapa bidang tanah yang terletak di Jakarta, Tangerang dan Pulau Batam dengan hak legal berupa Hak Guna Bangunan yang berjangka waktu 20-30 tahun yang akan jatuh tempo antara tahun 2028. Manajemen berpendapat tidak terdapat masalah dengan perpanjangan hak atas tanah karena seluruh tanah diperoleh secara sah dan didukung dengan bukti pemilikan yang memadai.

1.700 2.043.426 691 1.346.561 3.392.378

1.700 2.043.426 691 1.346.561 3.392.378

3.705.819

Cost s Direct ownership Land Buildings Electrical and machinery Machinery Factory equipment Electrical equipment Laboratory equipment Office equipment Motor vehicles Finance lease Motor vehicles

290.354.822

To t a l

12.534.087 14.997.564 121.590.752 23.850.327 2.810.945 5.764.249 8.832.105 4.162.242 1.906.048

Accumulated depreciation Direct ownership Buildings Electrical and machinery Machinery Factory equipment Electrical equipment Laboratory equipment Office equipment Motor vehicles Finance lease Motor vehicles

196.448.316

To t a l

93.906.506

Carrying amount

12.838.199 25.326.041 27.700.333 162.341.628 25.141.063 8.895.902 6.991.673 11.740.626 5.673.538

The Company and its subsidiary own several pieces of land located in Jakarta, Tangerang and Batam Island with Building Use Rights (Hak Guna Bangunan or HGB) for 20 to 30 years until 2028. Management believes that there will be no difficulty in the extension of the landrights since all the land were acquired legally and supported by sufficient evidence of ownership.

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/16

Exhibit E/16 PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

8. ASET TETAP (Lanjutan)

8. PROPERTY, PLANT AND EQUIPMENT (Continued) 2008

2007

Penyusutan dialokasikan pada: Pemilik langsung: Beban produksi tidak langsung Beban usaha Sewa pembiayaan Beban usaha Jumlah

9.

Depreciation expense was allocated

8.634.386 3.464.449

8.506.432 3.913.477

2.062.324

599.647

to the following Direct acquisitions: Manufacturing expenses Operating expenses Finance lease: Operating expenses

14.161.159

13.019.556

Total

Pada tanggal 31 Desember 2008, seluruh aset tetap kecuali tanah dan persediaan telah diasuransikan terhadap segala risiko masing-masing kepada kepada konsorsium asuransi yang dikoordinasi oleh PT Arthagraha General Insurance dengan jumlah pertanggungan sebesar Rp 227.867.200 dan PT Asuransi Bringin Sejahtera dengan nilai pertanggunan sebesar Rp 2.338.000 dan US$ 8 juta (angka penuh). Manajemen berpendapat bahwa nilai pertanggungan tersebut cukup untuk menutupi kemungkinan kerugian atas aset yang dipertanggungkan.

On 31 December 2008, property, plant and equipment included inventory, except for land, were insured with PT Asuransi Arthagraha General Insurance as the arranger against all risk for Rp 227,867,200 and PT Asuransi Bringin Sejahtera for Rp 2,338,000 and US$ 8 milion (full amount), respectively. Management believes that the insurance coverage is adequate to cover possible losses on the assets insured.

Aset tetap dijadikan jaminan atas hutang PT Bank Mandiri (Persero), Tbk dan Bank Rakyat Indonesia (Catatan 10 dan 16).

Property, plant and equipment are used as a collateral for the loans from PT Bank Mandiri (Persero), Tbk and PT Bank Rakyat Indonesia (persero), Tbk (Notes 10 and 16).

Berdasarkan hasil penelaahan akun masing-masing jenis aset tetap pada akhir tahun, manajemen Perusahaan dan anak perusahaan berpendapat tidak terjadi penurunan nilai aset tetap Perusahaan dan anak perusahaan untuk tahun-tahun yang berakhir pada tanggal 31 Desember 2008 dan 2007.

Based on management review and estimates of the status of individual property, plant and equipment of the end of the year, Management and its subsidiary is of the opinion that there are no impairment write down to be applied to property and equipment recorded for the years ended 31 December 2008 and 2007.

UANG JAMINAN

9. 2008

PT Bank Mandiri (Persero), Tbk PT Bank Agris (d/h PT Bank Finconesia)

11.478.725

Jumlah

14.507.947

3.029.222

SECURITY DEPOSIT 2007 3.205.019 3.205.019

PT Bank Mandiri (Persero), Tbk PT Bank Agris (formerly PT Bank Finconesia) Total

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/17 PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

10. PINJAMAN BANK JANGKA PENDEK

Jumlah

PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

10. SHORT-TERM BANK LOANS 2008

PT Bank Mandiri (Persero), Tbk Rupiah US$ 988.939,62 (2007: US $ 6.266.941) (angka penuh) PT Bank Agris (d/h PT Bank Finconesia) Rup iah US$ 163.122 (angka p enuh) PT Bank Sinarmas PT Bank Rakyat Indonesia (Persero), Tbk

Exhibit E/17

2007

-

18.860.747 1.536.448 12.417.040 889.183

PT Bank Mandiri (Persero), Tbk Rupiah US$ 988,939.62 (2007: US$ 6,266,941) (full amount) PT Bank Agris (formerly PTBank Finconesia) Rupiah US $ 163,122 (full amount) PT Bank Sinarmas PT Bank Rakyat Indonesia (Persero), Tbk

103.454.460

115.122.724

Total

92.625.571

22.390.990

10.828.889

59.028.316

Ringkasan perjanjian untuk masing-masing pinjaman tersebut, adalah sebagai berikut:

A summary of the terms of agreements for each loan, is as follow:

PT Bank Mandiri (Persero), Tbk

PT Bank Mandiri (Persero), Tbk

Perusahaan memperoleh fasilitas kredit modal kerja dan non cash loan, sebagai berikut:

The Company obtained working capital facility and non cash loan, as follows:

a. Kredit Modal Kerja (Revolving – Rekening Koran) sebesar Rp 18.490.000 and US$ 2 juta (angka penuh) dengan suku bunga masing-masing sebesar 12% untuk Rupiah dan 8,25% untuk US Dolar per tahun (2007: 13% - 14,5% untuk Rupiah per tahun dan 8,5% untuk Dolar Amerika Serikat). Pada tanggal 15 Oktober 2008, fasilitas Kredit Modal Kerja sebesar US$ 2 juta dikonversi menjadi sebesar Rp 19.594.000.

a. Working Capital Facility (Revolving-Bank Statement) of Rp 18,490.000 and USD 2 million (full amount) with interest rates 12% for Rupiah and 8.25% for US Dollar (2007: 13% – 14.5% for Rupiah and 8.5% for US Dollar), respectively. On 15 October 2008, the Working Capital Facility of US$ 2 million was converted to Rp 19,594.000.

b. Kredit Modal Kerja (Fixed loan) maksimum sebesar Rp 68 milyar (angka penuh) dengan suku bunga 12% (2007: 13 - 14,25%) per tahun.

b. Working Capital Facility (Fixed loan) maximum amounting to Rp 68 billion (full amount) with interest rate 12% (2007: 13% - 14.25%) per annum.

c. Non Cash Loan sebesar US$ 11 juta (angka penuh) untuk pembukaan L/C atau SKBDN – pembelian bahan baku. Perusahaan diwajibkan melakukan setoran tunai (setoran jaminan) sebesar 10% dari nominal L/C yang akan diterbitkan. Jumlah setoran tunai pada tanggal 31 Desember 2008 sebesar Rp 295.782 (2007: Rp 3.065.469) yang dicatat sebagai uang muka impor (Catatan 6).

c. Non cash loan of US$ 11 milion (full amount) for open L/C- purchase raw material. The Company must guarantee 10% of every non cash loan publication, amount of collateral on 31 December 2008 is Rp 295,782 (2007: Rp 3,065,469) which was recorded as part of advances for imported (Note 6).

d. Trust receipt sebesar Rp 19 milyar (angka penuh) dengan jumlah maksimum tidak boleh melebihi nilai Non Cash Loan untuk pembukaan L/C atau SKBDN – pembelian bahan baku.

d. Trust receipt of Rp 19 billion (full amount) with maximum amount shall not exceed Non Cash Loan for open L/C – purchase raw material.

e. Non Cash Loan sebesar US$ 2 juta (angka penuh) untuk pembukaan bank garansi / Standby LC. Perusahaan wajib melakukan setoran tunai (setoran jaminan) sebesar 10% dari nominal L/C yang akan diterbitkan

e. Non cash loan of US$ 2 million (full amount) for open bank guarantee / standby LC. The Company must guarantee 10% of every non cash loan publication

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/18 PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

10. PINJAMAN BANK JANGKA PENDEK (Lanjutan)

Exhibit E/18 PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

10. SHORT-TERM BANK LOANS (Continued)

PT Bank Mandiri (Persero), Tbk (Lanjutan)

PT Bank Mandiri (Persero), Tbk (Continued)

Seluruh fasilitas kredit tersebut mempunyai jangka waktu satu tahun yang dapat diperpanjang, jatuh tempo pada tanggal 14 Juni 2008 dan dijamin dengan seluruh piutang usaha, persediaan dan aset tetap Perusahaan.

The term of credit facility is one year and can be extended until 14 June 2008 and secured by all accounts receivable, inventories and fixed assets.

Perjanjian pinjaman juga mencakup persyaratan tertentu antara lain membatasi hak Perusahaan untuk mengubah anggaran dasar, susunan direksi dan komisaris, menambah hutang selain hutang yang sudah ada dan melakukan pembayaran dividen serta mengharuskan Perusahaan untuk mempertahankan rasio laporan keuangan dalam jumlah tertentu.

The loan agreements relating to the above facilities contain certain covenants, which among others, restrict the Company to amend their articles of association, change the composition of the board of commissioners and directors, incur additional indebtedness, and pay dividends to stockholders; the Company is also required to maintain the ratio of financial statement in certain amount.

PT Bank Agris (d/h PT Bank Finconesia)

PT Bank Agris (Formerly PT Bank Finconesia)

Pada tahun 2008, Perusahaan memperoleh perpanjangan fasilitas Kredit Modal Kerja baru sebesar US$ 111.650 (angka penuh) untuk pembukaan local letters of credit (L/C), sebesar US$ 255.000 (angka penuh) untuk bank garansi (BG), sebesar US$ 22.517,88 (angka penuh) untuk Performance Bond (BG) dan sebesar Rp 568.629.850 untuk bank garansi lokal. Fasilitas ini dijamin dengan hipotik pertama atas hak atas tanah HGB No. 6108 atas nama Tn. Santoso, HGB No. 6109 atas nama Ny Hauw Ay Lan, HGB No. 168 & 169 atas nama Perusahaan.

In 2008, the Company obtained renewal working capital credit facility in the aggregate principal amount US$ 111,650 (full amount) to finance opening local Letters of credit (L/C), US$ 255,000 (full amount) for Bank Guarantees (BG), US$ 22,517,88 (full amount) for Performance Bond (BG) and Rp 568,629,850 for lacal Bank Guarantees. This loan secured by First mortgages over land of HGB No. 6108 in the name Mr. Santoso, HGB No. 6109 in the name Mrs. Hauw Ay Lan, HGB No. 168 & 169 in the future name the Company.

PT Bank Sinarmas

PT Bank Sinarmas

Dalam tahun 2007, Perusahaan memperoleh fasililitas kredit modal kerja sebesar Rp 30 milyar (angka penuh) dengan jaminan persediaan milik PT Monaspermata Persada (pemegang saham) sebesar Rp 36 milyar (angka penuh) dengan jangka waktu 1 tahun dan akan jatuh tempo pada tanggal 1 Maret 2008. Kredit ini dikenakan bunga sebesar 13% per tahun.

In 2007, the Company obtained credit facility in the aggregate principal amount Rp 30 billion (full amount). This facility was secured by inventories owned by PT Monaspermata Persada (shareholder) amounting to Rp 36 billion (full amount) and will matured on 1 March 2008 with interest rates at 13% per annum.

PT Bank Rakyat Indonesia (Persero), Tbk

PT Bank Rakyat Indonesia (Persero), Tbk

Anak perusahaan memperoleh fasilitas kredit modal kerja sebesar Rp 1 milyar (angka penuh) dengan tingkat bunga 13% per tahun. Fasilitas ini dijamin dengan jaminan yang sama dengan kredit investasi dari bank yang sama (Catatan 16). Pada tanggal 30 Juni 2008, pinjaman ini telah dilunasi.

The subsidiary obtained working capital facility amounting to Rp 1 billion (full amount) with interest rate of 13% per annum. This facility was secured by the same collateral as the investment credit facility from the same bank (Note 16). On 30 June 2008, this facility has been fully paid.

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/19 PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

11. HUTANG USAHA

Exhibit E/19 PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

11. TRADE PAYABLES

Akun ini merupakan kewajiban kepada pemasok atas pembelian bahan baku, suku cadang dan bahan pembantu dengan rincian sebagai berikut:

This account represents amounts due to suppliers arising from purchases of raw materials, spare parts and supplies, with the details are as follow:

a. Jumlah hutang usaha berdasarkan pemasok, adalah sebagai berikut: 2008

a.

Pihak ketiga PT Tembaga Mulia Semanan Daewoo Glencore PT Walsin Lippo Industries PT Riken Asahi Plastics Indonesia PT Prysmian Cable Indonesia PT Voksel Electric PT Wonosari Jaya Alpha In Situ Pte. Ltd Shanghai Heng Fa Co., Ltd Dae Yang M aterial Co. Alcan Primary M etal Pty. Ltd. Nakajima Electric Corporation PT KM I Wire and Cable Tbk PT Sucaco PT Alcarindo Prima PD Karya Alam Sentosa Semesta PT DHL Global Forwarding Ahnjin Trading Corporation Lain-lain (dibawah Rp 1 milyar)

Pihak hubungan istimewa (Catatan 28) Jumlah

Total trade payables by suppliers, are as follows:

2007 Third parties PT Tembaga Mulia Semanan Daewoo Glencore PT Walsin Lippo Industries PT Riken Asahi Plastics Indonesia PT Prysmian Cable Indonesia PT Voksel Electric PT Wonosari Jaya Alpha In Situ Pte. Ltd Shanghai Heng Fa Co., Ltd Dae Yang Material Co. Alcan Primary Metal Pty. Ltd. Nakajima Electric Corporation PT KMI Wire and Cable Tbk PT Sucaco PT Alcarindo Prima PD Karya Alam Sentosa Semesta PT DHL Global Forwarding Ahnjin Trading Corporation Others (Under Rp 1 billion)

172.009.422 54.878.428 11.789.790 8.305.347 7.635.741 5.286.551 3.792.451 3.762.737 3.600.918 3.088.688 2.222.960 2.155.955 1.878.254 1.520.910 1.474.470 1.447.128 1.271.175 1.121.400 1.079.798 1.052.561 11.158.961

60.286.932 7.633.760 3.826 597.874 2.537.298 1.030.947 768.025 2.519.762 703.234 15.528.110

300.533.644

91.609.768

80.580.285

72.706.462

Related parties (Note 28)

381.113.929

164.316.230

Total

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/20 PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

b. Jumlah hutang usaha berdasarkan mata uang adalah sebagai berikut: 2008

Exhibit E/20 PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

b.

Total trade payables by currency are as follows:

2007

Rup iah Dolar Amerika Serikat Dolar Singapura Euro Poundsterling Inggris Yuan

20.036.032 353.142.432 7.485.609 131.777 206.353 111.726

27.872.891 118.056.486 17.633.261 655.866 97.726

Rupiah U.S Dollar Singapore Dollar Euro GBP Yuan

Jumlah

381.113.929

164.316.230

Total

Jangka waktu kredit yang timbul dari pembelian bahan baku utama dan pembantu, baik dari pemasok dalam maupun luar negeri berkisar 30 sampai dengan 60 hari.

Purchases of raw and indirect materials, both from local and foreign suppliers, have credit terms of 30 to 60 days. 12. LIABILITIES FOR ACQUISITION OF PROPERTY, PLANT AND EQUIPMENT

12. HUTANG PEROLEHAN ASET TETAP

2008

2007

Guangdong Shineng E. AP & E Co. Ltd. Hangzhou Steam Turbine Foshan Co. Pte

2.148.896 200.385 156.466

2.696.153 172.368 134.590

Guangdong Shineng E. AP & E Co. Ltd. Hangzhou Steam Turbine Foshan Co. Pte

Jumlah

2.505.747

3.003.111

Total

Hutang tersebut merupakan hutang yang timbul dalam rangka pemasangan dan pembelian impor suku cadang untuk mesin pembangkit listrik anak perusahaan dan tidak dikenakan bunga.

13. HUTANG LAIN-LAIN

Pihak ketiga Budi Santoso Sugama Ongko Jay a Sutanto Eddy Susi Suhendro Halim Lisa Iwan Sury amin Anwar PT Iradat Aman Bambang Setiawan Lain-lain (di bawah Rp 500 juta) Jumlah

The liabilities arise mainly from installation and purchase of imported spareparts by the subsidiary for electric generator, which are non-interest bearing.

13. OTHER PAYABLES 2008

2007

6.351.132 5.165.317 2.665.443 2.500.000 2.200.000 2.000.000 2.000.000 1.500.000 1.000.000 700.000 500.000 500.000 527.905

3.000.000 5.339.987 2.500.000 2.268.834 1.000.000 2.000.000 1.200.000 2.269.450 892.900 1.400.000 500.000 500.000 1.600.000 1.300

Third parties Budi Santoso Sugama Ongko Jaya Sutanto Eddy Susi Suhendro Halim Lisa Iwan Suryamin Anwar PT Iradat Aman Bambang Setiawan Others (under 500 million)

27.609.797

24.472.471

Total

Hutang tersebut merupakan pinjaman tunai dengan tingkat bunga antara 1% - 1,6% per bulan. Semua pinjaman tunai ini tanpa jadual pengembalian yang pasti.

The Payables represents loans with interest ranged from 1% - 1.6% per month. The loans have no fixed terms of repayment.

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/21

Exhibit E/21 PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

14. UANG MUKA PENJUALAN

14. ADVANCES FROM CUSTOMERS

Pihak ketiga PLN Pikitring Sulawesi SM I JJ-LAPP Cable (M ) Sdn Bhd PT Bina Karya Logam Z elan PT Clevelend PT Tuban Energi Sumber Rezeki Lain-lain (di bawah Rp 500 juta) Jumlah

2008

2007

8.874.041 3.918.684 1.218.512 697.263 591.177 508.451 504.784 500.000 5.257.625

3.463.272 6.736.372

Third parties PLN Pikitring Sulawesi SMI JJ-LAPP Cable (M) Sdn Bhd PT Bina Karya Logam Zelan PT Clevelend PT Tuban Energi Sumber Rezeki Others (under Rp 500 million)

22.070.536

10.199.644

Total

15. ACCRUED EXPENSES

15. BIAYA YANG MASIH HARUS DIBAYAR 2008 Jasa tehnik Lain-lain Bunga pinjaman Komisi Pengangkutan Asuransi Gaji dan tunjangan Jumlah

2007

9.636.000 6.837.114 2.939.846 963.251 819.778 282.214 75.175

12.809.840 1.520.437 3.666.107 5.558.996 655.109 297.812

Technical fee Others Interest loans Commission Transportation Insurance Salaries and allowances

21.553.379

24.508.301

Total

16. PINJAMAN BANK JANGKA PANJANG

16. LONG-TERM BANK LOANS 2008

PT PT PT PT

Bank Rakyat Indonesia (Persero), Tbk Bank Akita Bank ANZ Panin, Tbk Bank OCBC NISP, Tbk

Jumlah Dikurangi: Bagian jangka pendek Bagian jangka panjang

(

2007

7.000.000 -

13.000.000 1.108.206 207.200 107.912

PT Bank Rakyat Indonesia (Persero), Tbk PT Bank Akita PT Bank ANZ Panin, Tbk PT Bank OCBC NISP, Tbk

7.000.000

14.423.318

Total

7.000.000) -

(

8.728.376) 5.694.942

Less Current portion Long -term portion

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/22 PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

16. PINJAMAN BANK JANGKA PANJANG (Lanjutan)

Exhibit E/22 PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

16. LONG-TERM BANK LOANS (Continued)

PT Bank Rakyat Indonesia (Persero), Tbk

PT Bank Rakyat Indonesia (Persero, Tbk)

Dalam tahun 2002, anak perusahaan memperoleh fasilitas kredit investasi dari Bank Rakyat Indonesia (BRI) dengan jumlah sebesar Rp 38.571.000 dan menurun menjadi Rp 26.000.000 dengan jangka waktu 5 tahun 6 bulan yang akan jatuh tempo tanggal 31 Desember 2007 dengan tingkat bunga 13% per tahun. Pada tanggal 23 Mei 2006, kredit telah dijadual ulang yang kedua yang akan berakhir pada tanggal 30 Juni 2009. Kredit ini dijamin dengan sebidang tanah HGB No. 101 dengan luas 3.965 m2 atas nama anak perusahaan yang terletak di Batam, bangunan, mesin-mesin, piutang usaha dan persediaan. Anak perusahaan wajib memenuhi beberapa ketentuan (covenant) sesuai dengan yang ditetapkan dalam perjanjian, yang membatasi antara lain:

In 2002, the subsidiary obtained an investment credit facility from Bank Rakyat Indonesia (BRI) amounting to Rp 38,571,000 and decline up to Rp 26,000,000 , due in five (5) years and six (6) months and maturing on 31 December 2007 with interest rate at 13% per annum. On 23 May 2006, this loan was second rescheduled until 30 June 2009. The loan is secured by land under Building Use Right No. 101 with an area of 3,965 square meters under the name of the subsidiary, which is located in Batam, buildings, machinery, trade accounts receivable and inventories. The subsidiary is required to comply with several covenants which, among others, restrict the subsidiary to undertake the following:

a. Melakukan pembagian dividen kepada para pemegang saham kecuali dipergunakan kembali sebagai tambahan setoran modal disetor perusahaan, melunasi dan atau membayar hutang kepada pemegang saham sebelum hutang di BRI dilunasi terlebih dahulu.

a. Distribute dividends to shareholders, except in the form of stock dividends; settle loans to shareholders prior to the payment of the loan from BRI.

b. Mengambil pinjaman dari bank lain.

b. Obtain loans from other banks.

c. Mengikatkan sebagai penjamin terhadap pihak lain atau menjaminkan kekayaan perusahaan kepada pihak lain.

c. Act as guarantor for other parties or use the subsidiary’s assets as collateral for other parties.

PT Bank Akita

PT Bank Akita

Perusahaan memperoleh fasilitas kredit untuk pembelian kendaraan bermotor dari Bank Akita. Kredit ini memiliki jangka waktu antara 3 – 5 tahun dengan tingkat bunga berkisar 20% – 22% per tahun yang dijamin dengan kendaraan bermotor yang bersangkutan dan dicatat sebagai aset tetap.

The Company obtained credit facility to finance purchases of motor vehicles from Bank Akita. This facility has period terms 3 – 5 years with interest rateranged from 20% - 22% per annum and secured by motor vehicles that purchase by this facility and were recorded as property, plant and equipment.

PT Bank Panin, Tbk

PT Bank Panin, Tbk

Perusahaan memperoleh fasilitas kredit untuk pembelian kendaraan bermotor dari Bank Panin. Kredit ini memiliki jangka waktu antara 3 – 5 tahun dengan tingkat bunga berkisar 20% – 22% per tahun yang dijamin dengan kendaraan bermotor yang bersangkutan dan dicatat sebagai aset tetap.

The Company obtained credit facility to finance purchases of motor vehicles from Bank Panin. This facility has period terms between 3 – 5 years with interest rate ranged from 20% - 22% per annum and secured by motor vehicles that purchase by this facility and were recorded as property, plant and equipment.

PT Bank OCBC NISP, Tbk

PT Bank OCBC NISP, Tbk

Perusahaan memperoleh fasilitas kredit untuk pembelian kendaraan bermotor dari Bank NISP. Kredit ini memiliki jangka waktu antara 3 – 5 tahun dengan tingkat bunga berkisar 20% – 22% per tahun yang dijamin dengan kendaraan bermotor yang bersangkutan dan dicatat sebagai aset tetap.

The Company obtained credit facility to finance purchases of motor vehicles from Bank NISP. This facility has period terms between 3 – 5 years with interest rate ranged from 20% - 22% per annum and secured by motor vehicles that purchase by this facility and were recorded as property, plant and equipment.

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/23 PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

17. HUTANG SEWA PEMBIAYAAN

Exhibit E/23 PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

17. FINANCE LEASE

Perusahaan memperoleh fasilitas berupa sewa pembiayaan berdasarkan perjanjian sewa pembiayaan. Pada tanggal 31 Desember 2008 dan 2007, adalah sebagai berikut:

The future minimum lease payments based on the lease agreements. On 31 December 2008 and 2007, are as follows:

Rincian sewa pembiayaan berdasarkan jatuh tempo:

The details of finance lease by due dates:

2008

2007

Dalam satu tahun Antara satu sampai lima tahun

3.614.256

763.304 1.361.554

Within one years Between one up to five years

Dikurangi biaya pembiayaan masa datang

3.614.256 778.848

2.124.858 654.469

Less future finance charge

Nilai kini sewa pembiayaan

2.835.408

1.470.389

Present value of finance leases

580.343

541.375

Less Current portion

2.255.065

929.014

Long term portion

Dikurangi Bagian jangka pendek Bagian jangka panjang

Manajemen Perusahaan dan anak perusahaan menetapkan kebijakan untuk membeli kendaraan melalui pembiayaan sewa pembiayaan. Jangka waktu sewa adalah 3-5 tahun dengan tingkat bunga berkisar 7,5% - 10% flat per tahun. Semua hutang sewa pembiayaan didenominasi dalam Rupiah yang dibayar setiap bulan dalam suatu jumlah tetap. Hutang ini dijamin dengan aset tetap pembiayaan yang bersangkutan (Catatan 8).

18. MODAL SAHAM 2008

Pemegang saham PT Monaspermata Persada PT Indolife Pensiuntama Fujikura Ltd, Japan Fujikura Asia Ltd, Singapore Masyarakat (masing-masing di bawah 5%)

The management of the Company and its subsidiary established a policy to purchase vehicles for operations through finance lease. The leases have terms between 3-5 years with effective interest rate ranged from 7.5% - 10% flat per annum. All the finance lease are denominated in Rupiah, payable every month at fixed amounts. The finance lease are secured by the related leased assets (Note 8).

18. SHARE CAPITAL Jumlah saham/ Number of shares

Persentase pemilikan/ Percentage of ownership

Jumlah modal disetor/ Total Paid-up capital stock

79.485.000 26.578.300 20.430.000 9.810.000

52,57% 17,58% 13,51% 6,49%

39.742.500 13.289.150 10.215.000 4.905.000

14.896.700

9,85%

7.448.350

151.200.000

100,00%

75.600.000

2008

Shareholders PT Monaspermata Persada PT Indolife Pensiuntama Fujikura Ltd, Japan Fujikura Asia Ltd, Singapore Public (each under 5%)

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/24 PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

Exhibit E/24 PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

18. MODAL SAHAM (Lanjutan)

18. SHARE CAPITAL(Continued)

19. AGIO SAHAM

19. ADDITIONAL PAID IN CAPITAL

Pada tanggal 31 Desember 2008 dan 2007, akun ini merupakan agio saham sehubungan dengan:

On 31 December 2008 and 2007, this account consists of the followings:

Penjualan saham Perusahaan pada penawaran umum kepada masyarakat tahun 1992:

Sale of share through public offering in 1992:

2008 tahun 1992: Jumlah y ang diterima untuk pengeluaran 10.000.000 saham Jumlah y ang dicatat sebagai modal disetor Saldo agio saham - bersih sebelum kapitalisasi Kap italisasi menjadi modal saham pada tahun 1994 Saldo agio saham

47.500.000 ( 10.000.000)

37.500.000 ( 33.600.000) 3.900.000

20. PENJUALAN BERSIH

2008

Penjualan bersih

20. PENJUALAN BERSIH (Lanjutan)

in 1992: Proceeds from issuance of 10,000,000 shares Total par value of capital stock

47.500.000 ( 10.000.000)

37.500.000 ( 33.600.000)

Additional paid-in capital - net before capitalization Capitalization to paid-up capital stock in 1994

3.900.000

Additional paid-in capital

20. NET SALES

a. Rincian penjualan bersih menurut kelompok barang, adalah sebagai berikut:

Kabel listrik tegangan rendah: Kabel tembaga Kabel aluminium Kabel listrik tegangan menengah Kabel telep on: Kabel serat optic Kabel metalik Energi listrik

2007

a. Details of net sales by type of products, are as follows:

2007

543.494.841 262.514.148 241.702.657

406.741.933 123.753.492 120.551.086

45.988.230 18.740.663 18.697.876

11.791.895 51.305.268 21.444.979

Low voltage power cables: Copper Aluminium Medium voltage power cables Telephone cables: Fiber optic Metallic Electrical power

1.131.138.415

735.588.653

Net sales

20. NET SALES(Continued)

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/25 PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

b.

Rincian penjualan bersih menurut langganan, adalah sebagai berikut:

kelompok

Tahun 2008, 16,61% (2007: 42,17%) dari penjualan dilakukan dengan pihak hubungan istimewa (Catatan 28).

21. BEBAN POKOK PENJUALAN

Persediaan barang dalam proses Awal tahun Akhir tahun

b.

The details of net sales by group of customers, are as follows:

In 2008, 16.61% (2007: 42.17%) of the local sales were made to related parties (Note 28).

2008

2007

47.267.647 928.583.178

27.631.987 558.407.561

975.850.825 35.630.853)

586.039.548 ( 47.267.647)

940.219.972 21.031.215

538.771.901 16.991.063

Raw materials used Direct labor

45.888.178

34.418.403

Manufacturing expenses (Note 22)

1.007.139.365

590.181.367

Total manufacturing costs

(

Bahan baku y ang digunakan Upah langsung Beban produksi tidak langsung (Catatan 22) Jumlah beban p roduksi

PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

21. COST OF GOODS SOLD

Persediaan bahan baku Awal tahun Pembelian Tersedia untuk dipakai Akhir tahun

Exhibit E/25

(

17.914.805 33.704.541)

Beban pokok produksi Persediaan barang jadi Awal tahun Pembelian Akhir tahun

991.349.629

(

Beban Pokok Penjualan

1.026.639.982

44.192.565 53.403.985 62.306.197)

Persentase pembelian bahan baku pada tahun 2008 sebesar 9% (2007: 13%) dilakukan dengan pihak yang mempunyai hubungan istimewa (Catatan 28).

26.159.926 ( 17.914.805) 598.426.488 26.508.514 53.753.295 ( 44.192.565) 634.495.732

Raw materials At beginning of year Purchases Available for use At end of year

Work in process At beginning of year At end of year Cost of goods manufactured Finished goods At beginning of year Purchases At end of year Cost of Goods Sold

Percentage purchases of raw materials in 2008 amounting 9% (2007: 13%) were from related parties (Note 28).

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/26 PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

21. BEBAN POKOK PENJUALAN (Lanjutan)

Exhibit E/26 PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

21. COST OF GOODS SOLD (Continued)

Berikut ini adalah rincian pembelian bahan baku dari pihak ketiga yang melebihi 10% dari jumlah pembelian bersih masing-masing tahun 2008 dan 2007:

The following are details of purchases from Third parties which representing more than 10% of total net purchases for each 2008 and 2007:

2008

2007

PT Tembaga M ulia Semanan,Tbk Glencore PT M ulti Tembaga Utama PT Sinar M onas Industries

209.087.540 157.834.459 100.382.849 126.292.137

149.852.616 105.402.473 -

PT Tembaga Mulia Semanan,Tbk Glencore PT Multi Tembaga Utama PT Sinar Monas Industries

Jumlah

593.596.985

255.255.089

Total

22. BEBAN PRODUKSI TIDAK LANGSUNG

22. MANUFACTURING EXPENSES 2008

2007

Bahan bakar dan pelumas Listrik, air dan gas Penyusutan Perbaikan dan pemeliharaan Jasa profesional Pengepakan Laboratorium/p engujian Asuransi Perjalanan dinas Pertemuan dan pergaulan Komunikasi Sewa gudang Lain-lain

12.311.482 8.827.211 8.634.386 7.885.794 1.549.361 1.006.136 561.910 280.944 226.197 225.783 110.125 26.120 4.242.729

7.369.933 8.419.818 8.506.432 6.783.501 290.165 108.146 191.168 265.436 96.514 81.740 52.113 24.200 2.229.237

Fuel and oil Electricity, water and gas Depreciation Repairs and maintenance Professional fees Packaging Laboratory and testing Insurance Travel Meeting and entertainment Communication Warehouse lease Others

Jumlah

45.888.178

34.418.403

Total

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/27 PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

23. BEBAN USAHA

PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

23. OPERATING EXPENSES 2008

Beban Penjualan Pengangkutan Gaji dan tunjangan Penyusutan Komisi penjualan Perjalanan dinas Pertemuan dan pergaulan Beban piutang ragu-ragu Denda keterlambatan pengiriman Bahan bakar dan pelumas Perbaikan dan pemeliharaan Alat tulis dan cetak Advertensi dan promosi Sewa Lain-lain

Exhibit E/27

2007

9.510.604 3.483.023 2.062.324 3.111.925 1.190.911 927.251 747.701 305.572 221.895 151.841 101.367 59.346 530.532 2.719.952

8.315.421 2.786.030 599.647 14.148.577 512.092 614.096 1.163.057 177.511 139.698 124.557 150.611 141.264 386.335 1.175.637

Selling Expenses Freight out Salaries, wages and allowances Depreciation Sales commission Travel Meeting and entertainment Provision for doubtful accounts Penalties for late deliveries Fuel and oil Repairs and maintenance Office supplies and stationeries Advertising and promotion Lease Others

25.124.244

30.434.533

Total Selling Expenses

8.591.657 4.073.642 3.464.449 1.150.840 1.135.643 887.423 696.836 548.595 351.182 285.918 2.815.393

5.958.275 2.350.698 3.913.477 735.629 647.563 734.468 177.378 501.157 212.174 327.424 4.005.082

General and Adminisrative Expenses Salaries, wages and allowances (Notes 27) Employee benefis Depreciation Professional fees Representation and donation Repairs and maintenance Office supplies and stationeries Communication Fuel and oil Travel Others

Jumlah Beban Umum dan Administrasi

24.001.578

19.563.325

Total General and Adminisrative Expenses

Jumlah Beban Usaha

49.125.822

49.997.858

Total Operating Expenses

Jumlah Beban Penjualan Beban Umum dan Administrasi Gaji dan tunjangan Beban imbalan pasca kerja (Catatan 27) Penyusutan Jasa profesional Representasi dan sumbangan Perbaikan dan pemeliharaan Alat tulis dan cetak Komunikasi Bahan bakar dan pelumas Perjalanan dinas Lain-lain

24. BEBAN PINJAMAN

24. INTEREST EXPENSES

Akun ini meliputi beban atas pinjaman-pinjaman sebagai berikut:

This account consist of interest on the following :

2008

2007

Pinjaman bank Sewa pembiayaan Lain-lain

11.402.714 559.124 1.968.331

14.192.299 399.984 4.839.302

Bank loans Finance lease Others

Jumlah

13.930.169

19.431.585

Total

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/28 PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

Exhibit E/28 PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

25. TAXATION

25. PERPAJAKAN

a. Prepaid taxes

a. Pajak dibayar dimuka 2008

2007

Taksiran klaim pajak p enghasilan Pajak Pertambahan Nilai - Bersih

12.835.490 6.981.392

3.049.725

Estimated claim corporate income Value Added Tax - Net

Jumlah

19.816.882

3.049.725

Total

b. Tax Payable

b. Hutang Pajak 2008

2007

Pajak Penghasilan: - pasal 21 - Pasal 23 - Pasal 29 - Pasal 4 (2)

1.043.207 827.813 -

555.725 963.791 4.499.777 35.053

Income Taxes: - Article 21 - Article 23 - Article 29 - Article 4 (2)

Jumlah

1.871.020

6.054.346

Total

c. Income tax

c. Pajak penghasilan (Beban) penghasilan pajak Perusahaan, terdiri dari:

2008

Tax (expense) benefit of the Company consists of the following : 2007

Pajak kini Pajak tangguhan

(

1.806.443) 151.061

( 12.346.802) ( 2.149.649)

Current tax Deferred tax

Jumlah

(

1.655.382)

( 14.496.451)

Total

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/29

Exhibit E/29 PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

25. TAXATION (Continued)

25. PERPAJAKAN (Lanjutan) d. Pajak Kini

d. Current Tax

Rekonsiliasi antara rugi sebelum pajak menurut laporan laba rugi dengan laba kena pajak, adalah sebagai berikut:

A reconciliation between income before tax per consolidated statements of income and taxable income, is as follow :

2008 Laba sebelum p ajak menurut laporan laba rugi konsolidasi Rugi anak p erusahaan

(

Laba Perusahaan

1.727.142 2.754.338)

2007 Income before tax per consolidated statements of income Subsidiary's loss

37.418.031 ( 948.108)

4.481.480

38.366.139

Income of the Company

Perbedaan temporer: Penyusutan aset tetap

Perbedaan tetap: Beban pergaulan dan p ertemuan Penyusutan aset sewa pembiay aan Beban bunga sewa p embiayaan Penyisihan piutang ragu-ragu Penghasilan bunga Lain-lain

(

Pendapatan kena pajak

2008

6.051)

-

(

6.051)

(

2.854.253

6.079.809

41.214.341

2007

41.114.341 X

6.079.809

41.214.341

Pajak penghasilan dibayar di muka: Pajak Penghasilan - Pasal 22 Pajak Penghasilan - Pasal 23 Pajak Penghasilan - Pasal 25 Fiskal luar negeri

Taxable income

2008

5.979.809

Pajak Kini

Permanent differences : Meeting and entertainment Depreciation of leased assets Interest expenses of lease liabilities Provision for doubtful accounts Interest income Others

1.049.062 595.337 155.439 1.163.057 139.016) 30.374

1.598.329

50.000 X 50.000 X

25. PERPAJAKAN (Lanjutan)

(

1.018.716 390.701 535.356 560.350 906.794) -

50.000 50.000

Taksiran klaim (hutang) pajak penghasilan

-

Temporary differences : Depreciation of property, plant and equipment

10% 15% 30%

2008

2007

( 1.806.443)

( 12.346.802)

10.985.954 10.000 3.611.979 34.000

7.582.501 232.524 32.000

14.641.933

7.847.025

12.835.490

( 4.499.777)

25. TAXATION (Continued)

2007

5.000 7.500 1.793.943

5.000 7.500 12.334.302

1.806.443

12.346.802

Current Tax Prepayment of income taxes : Income taxes - Article 22 Income taxes - Article 23 Income taxes - Article 25 Exit permit tax

Estimated claim (payable) corporate income tax

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/30

Exhibit E/30 PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

e. Deferred Tax

e. Pajak Tangguhan Rincian dari aset dan kewajiban pajak tangguhan Perusahaan dan anak perusahaan, adalah sebagai berikut:

The details of the Company and its subsidiary’s deferred tax assets ( liabilities ), are as follows : Penyesuaian perubahan tarif pajak dari 30% menjadi 28% /

Dibebankan (dikreditkan) ke laba rugi/ Charged (credited) to income

2006

Aset pajak tangguhan Kesejahteraan karyawan Rugi fiskal

2.566.694 9.143.631 (

Jumlah Kewajiban pajak tangguhan Aset tetap Jumlah Aset tangguhan – Bersih

11.710.325

( (

(

1.335.690) 10.374.635

2007

16.141

2.458.198)

2.582.835 6.685.433

2.442.057)

9.268.268

292.408 (

1.335.690)

292.408 (

Adjutment for change the tax rate from 30% to 28%

(

2.149.649)

(

1.043.282) 1.043.282) 8.224.986

(

Dibebankan (dikreditkan) ke laba rugi/ Charged (credited) to income

2008

(172.189) (445.696)

16.309 682.842

2.426.955 6.922.580

617.885)

699.151

9.349.535

69.552

241

(

69.552

241

(

548.332)

699.393

973.489) 973.489) 8.376.046

Deferred tax assets Employee benefits Fiscal loss Total Deferred tax liabilities Property, plant, and equipment Total Deferred tax assets – Net

Pada tanggal 31 Desember 2008, sisa kerugian fiskal anak perusahaan sebesar Rp 24.723.498 masih dapat dikompensasikan dengan laba fiskal.

On 31 December 2008, the subsidiary’s fiscal loss carry forwards amounting to Rp 24,723,498 can be used as compensation.

Rekonsiliasi antara penghasilan beban pajak dan hasil perkalian laba akuntansi sebelum pajak dengan tarif pajak yang berlaku adalah sebagai berikut:

A reconciliation between the tax expense and the amounts computed by applying the effective tax rates to income before tax of the Company is as follow :

2008

2007

Laba sebelum pajak menurut laporan laba rugi

4.481.480

38.366.139

Income before tax of the Company

Pajak penghasilan sesuai tarif

1.344.444

11.492.342

Tax expense at effective tax rate

Pengaruh pajak atas penghasilan (beban) yang tidak dapat diperhitungkan menurut fiskal : Beban pergaulan dan pertemuan Penyisihan piutang ragu-ragu Beban bunga sewa pembiayaan Penyusutan aset sewa pembiayaan Penghasilan bunga ( Lain-lain Penyesuaian saldo awal aset pajak tangguhan akibat perubahan tarif

305.615 168.105 160.607 117.210 273.905) 78.819 85.484 641.935

Beban pajak Penghasilan pajak anak perusahaan Jumlah Beban Pajak

26. LABA PER SAHAM

(

(

314.719 348.917 46.632 178.601 41.705) 9.112 -

Tax effects of non deductible income (expenses) : Meeting and entertainment Provision for doubtful accounts Interest expenses of lease liabilities Depreciation of finance assets Interest income Others Adjusment to beginning balance defered deferred tax assets for exchange tax rate

856.276

1.986.379 337.741)

12.348.618 2.147.833

Tax expense of the Company Tax benefit of the Subsidiary

1.648.638

14.496.451

Total Tax Expense

26. EARNINGS PER SHARE

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/31 PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

Exhibit E/31 PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

Laba Per Saham Dasar

Basic Earnings per Share

Pada tahun 2008 dan 2007 laba bersih yang digunakan Perusahaan untuk perhitungan laba dan rugi per saham dasar masing-masing adalah Rp 78.504 dan Rp 22.921.580. Jumlah rata-rata saham yang beredar untuk tahun 2008 dan 2007 adalah 151.200.000 saham.

In 2008 dan 2007, net income used by the Company to calculate earnings per share are amounted to Rp 78,504 and Rp 22,921,580 respectively. The weighted averaged number of shares outstanding was 151,200,000 in 2008 and 2007.

27. IMBALAN PASCA-KERJA

27. POST-EMPLOYMENT BENEFITS

Perusahaan membukukan imbalan pasca-kerja imbalan pasti untuk karyawan sesuai dengan Undang-Undang No. 13/2003 tentang Ketenagakerjaan. Jumlah karyawan yang berhak atas imbalan pasca kerja tersebut adalah 579 karyawan tahun 2008 (2007: 607 karyawan).

The Company provided post - employment benefits for its qualifying employees in accordance with Labor Law No. 13/2003. The total of employees entitled to the benefits is 579 employees in 2008 (2007: 607 employees).

Beban imbalan pasca-kerja yang diakui di laporan laba rugi adalah sebagai berikut:

Post-employment benefits expense statement of income as follows :

2008 Beban jasa kini Beban bunga Dampak perubahan Amortisasi kerugian aktuaria Amortisasi jasa masa lalu

888.692 1.328.846 1.722.858 74.999

Beban imbalan pasca-kerja – anak perusahaan Jumlah

Kewajiban imbalan pasca-kerja anak perusahaan Saldo akhir

in

2007 671.494 1.615.187 ( 349.904) 285.117 74.999

Current service cost Interest cost Amortization actuarial losses Amortization past service cost

2.296.893

58.247

53.805

Post employment benefits expense subsidiary company

4.073.642

2.350.698

Total

2008

( (

recognized

4.015.395

Kewajiban imbalan pasca-kerja di neraca, adalah sebagai berikut :

Nilai kini kewajiban Biaya jasa lalu yang belum diakui Kerugian aktuarial yang belum diakui

is

Provision for post-employment benefits is recognized in balance sheets, are as follows :

2007

15.747.576 691.545) 40.474)

13.288.456 ( 766.544) ( 1.137.404)

15.015.557

11.384.508

384.820

330.743

Provision for post-employment benefits - subsidiary company

15.400.377

11.715.251

Ending balance

Present value of obligation Unrecognized past service cost Unrecognized actuarial losses

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/32

Exhibit E/32 PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

27. POST-EMPLOYMENT BENEFITS (Continued)

27. IMBALAN PASCA KERJA (Lanjutan) Mutasi kewajiban bersih di neraca, adalah sebagai berikut :

Movement in the liability recognized in the balance sheet, are as follows :

2008 Saldo awal Pembayaran manfaat Beban tahun berjalan Kewajiban imbalan pasca kerja anak perusahaan Saldo akhir

(

11.384.508 384.346) 4.015.395

Tingkat pengunduran diri per tahun

Tingkat pensiun normal

(

9.530.536 442.921) 2.296.893

Beginning balance Benefit payments Expense in current year

15.015.557

11.384.508

384.820

330.743

Provision for post-employment benefits subsidiary company

15.400.377

11.715.251

Ending balance

Perhitungan imbalan pasca kerja dihitung oleh aktuaris independen PT Jasa Aktuaria Tiwikrama tanggal 6 Februari 2009, yang digunakan dalam menentukan penilaian aktuarial adalah sebagai berikut :

Tingkat diskonto per tahun Tingkat kenaikan gaji per tahun Tingkat kematian Tingkat cacat

2007

The cost of providing post-employment benefits is calculated by an independent actuary PT Jasa Aktuaria Tiwikrama dated 6 February 2009, the actuarial valuation was carried out using the following key assumptions:

2008

2007

10,00% 7,00% TMI-2 5,00% 4% s/d 25 tahun dan 1% pada usia 45 tahun 100,00%

10,50% 10,00% CSO'80 10,00% 4% s/d 25 tahun dan 1% pada usia 45 tahun 100,00%

28. TRANSAKSI HUBUNGAN ISTIMEWA

Discount rate Salary increment rate Mortality rate Disability rate Resignation rate

Normal retirement

28. TRANSACTION WITH RELATED PARTIES

Saldo piutang dan hutang pada pihak yang mempunyai hubungan istimewa

The balances of trade receivables and trade payables with related parties

Piutang usaha

Trade receivable 2008

2007

PT Monaspermata Persada PT Alumina Metal Utama PT Sinarmonas Industries PT Gapura Kridatama Nextrom Enterprise Pte. Ltd. PT Multi Tembaga Utama PT Wanda Jembo Cable

33.564.504 14.616.956 3.613.667 628.094 -

30.929.061 5.766.312 6.530.195 628.094 24.861.545 1.094.716 674.460

PT Monaspermata Persada PT Alumina Metal Utama PT Sinarmonas Industries PT Gapura Kridatama Nextrom Enterprise Pte. Ltd. PT Multi Tembaga Utama PT Wanda Jembo Cable

Jumlah

52.423.222

70.484.383

Total

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/33 PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

28. TRANSAKSI HUBUNGAN ISTIMEWA (Lanjutan)

Exhibit E/33 PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

28. TRANSACTION WITH RELATED PARTIES (Continued)

Hutang usaha

Trade accounts payable 2008

2007

PT Multi Tembaga Utama PT Sinarmonas Industries PT Aluminametal Utama Fujikura Federeal Cable Sdn Bhd CV Sarihon Electrik Koperasi Karyawan PT JCC Fujikura Asia Ltd PT Monaspermata Persada

35.211.406 32.822.147 7.986.119 4.216.681 141.592 124.796 77.543 -

17.329.471 44.939.490 8.557.980 43.074 1.235.347 601.100

PT Multi Tembaga Utama PT Sinarmonas Industries PT Aluminametal Utama Fujikura Federeal Cable Sdn Bhd CV Sarihon Electrik Koperasi Karyawan PT JCC Fujikura Asia Ltd PT Monaspermata Persada

Jumlah

80.580.285

72.706.462

Total

2008

2007

Uang muka penjualan

Advances from customer

PT Aluminametal Utama Nextrom Enterprise Pte. Ltd

788.698 -

733.018 2.147.532

PT Aluminametal Utama Nextrom Enterprise Pte. Ltd.

Jumlah

788.698

2.880.550

Total

Hutang pada pihak hubungan istimewa

Due to related parties 2008

2007

Pemegang saham Santoso

-

5.000.000 43.605

Shareholders Santoso

Jumlah

-

5.043.605

Total

Sifat Hubungan Istimewa:

Nature of Relationship:

a. PT Monaspermata Persada dan Fujikura Asia Ltd., Singapore adalah pemegang saham Perusahaan.

a. PT Monaspermata Persada and Fujikura Asia Ltd., Singapore are shareholders of the Company.

b. Pemegang saham mayoritas Perusahaan juga merupakan pemegang saham PT Multi Tembaga Utama, PT Aluminametal Utama dan PT Sinarmonas Industries.

b.

The Companies with stockholder also majority shareholders of the Company are PT Multi Tembaga Utama, PT Aluminametal Utama and PT Sinarmonas Industries.

c.

Santoso is members of the Company management.

d.

The Companies with common member of the family of the Company’s management are CV Sarihon Elektrik and Nextrom Enterprise Pte. Ltd., Singapore (NEL).

c. Santoso merupakan anggota manajemen Perusahaan. d. Perusahaan dimana pengurusnya merupakan keluarga dari pengurus Perusahaan adalah CV Sarihon Elektrik dan Nextrom Enterprise Pte. Ltd., Singapura (NEL).

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/34 PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

28. TRANSAKSI HUBUNGAN ISTIMEWA (Lanjutan)

Exhibit E/34 PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

28. TRANSACTION WITH RELATED PARTIES (Continued)

Transaksi-transaksi Hubungan Istimewa

Transaction with Related Parties

Dalam kegiatan usahanya, Perusahaan melakukan transaksi tertentu dengan pihak-pihak yang mempunyai hubungan istimewa, yang meliputi antara lain:

In the normal course of business, the Company entered into certain transaction with related parties, including the following :

a. Tahun 2008, 16,61% dari jumlah penjualan (2007: 42,17%), merupakan penjualan kepada pihak yang mempunyai hubungan istimewa, dimana menurut manajemen dilakukan dengan tingkat harga dan syaratsyarat normal sebagaimana halnya bila dilakukan dengan pihak ketiga. Pada tanggal neraca, piutang atas penjualan tersebut dicatat sebagai bagian dari piutang usaha, yang meliputi 17% (2007: 14,98%) dari jumlah aset.

a.

Rincian penjualan kepada pihak yang mempunyai hubungan istimewa, sebagai berikut:

In 2008, 16.61% from total sales (2007: 42.17%), represent of the net sales to relaed parties, according to management, were made at normal price and conditions as those done with third parties. At balance sheet dates, the receivables from these sales were presented as trade accounts receivable, which contituted 17% (2007: 14.98%) respectively, of the total assets.

The details of sales to related parties, are as follows:

2008

2007

PT Monaspermata Persada Nextrom Enterprise Pte. Ltd. PT Sinarmonas Industries PT Multi Tembaga Utama C.V Sarihon Elektrik

134.159.820 35.116.625 17.466.155 919.261 277.050

135.635.172 47.847.635 12.113.865 3.379.618 2.064.139

PT Monaspermata Persada Nextrom Enterprise Pte. Ltd. PT Sinarmonas Industries PT Multi Tembaga Utama C.V Sarihon Elektrik

Jumlah

187.938.911

201.040.429

Total

b. Tahun 2008, 17,44% (2007: 52,79%) dari jumlah pembelian masing-masing merupakan pembelian dari pihak yang mempunyai hubungan istimewa, dimana menurut pendapat manajemen dilakukan dengan tingkat harga dan syarat-syarat normal sebagaimana halnya bila dilakukan dengan pihak ketiga. Pada tanggal neraca, hutang atas pembelian tersebut dicatat sebagai bagian dari hutang usaha, yang meliputi 13,75% (2007: 19,72%) dari jumlah kewajiban lancar. Rincian pembelian kepada pihak hubungan istimewa, sebagai berikut:

PT Multi Tembaga Utama PT Sinarmonas Industries Fujikura Asia Ltd., Singapura PT Monaspermata Persada Jumlah

b.

In 2008, 17,44% (2007: 52.79 %) from total purchases represented of purchase from related parties, which, according to management, were made at normal prices and conditions as those done with third parties. At balance sheet dates, the liabilities for these purchases were presented as trade account payable, which contituted 13.75% (2007: 19.72 %) respectively, of the total current liabilities.

The details of purchases from related parties, are as follows:

2008

2007

92.297.685 55.860.323 13.750.217 -

86.898.955 100.695.270 10.516.042 2.201.374

PT Multi Tembaga Utama PT Sinarmonas Industries Fujikura Asia Ltd., Singapore PT Monaspermata Persada

161.908.225

200.311.641

Total

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/35

Exhibit E/35 PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

28. TRANSAKSI HUBUNGAN ISTIMEWA (Lanjutan)

28. TRANSACTION WITH RELATED PARTIES (Continued)

c. Perusahaan menyewa bangunan kantor di Mega Glodok Kemayoran milik PT Monaspermata Persada. Beban sewa tahun 2008 dan 2007 sebesar Rp 350.532 dan Rp 386.585.

c. The Company leases the PT Monaspermata Persada’s office at Mega Glodok Kemayoran. Lease expenses for the 2008 and 2007 amounting to Rp 530,532 and Rp 386,585.

d. Bangunan kantor milik Perusahaan yang terletak di Jalan Tangki Sekolah, Jakarta disewa oleh PT Monaspermata Persada. Pendapatan sewa tahun 2008 dan 2007 sebesar Rp 100.000.

d. The Company’s building which is located in Jalan Tangki Sekolah, Jakarta is being rent by PT Monaspermata Persada. Lease income for 2008 and 2007 amounting to Rp 100,000.

e. Perusahaan menjual tembaga sisa dan aluminium sisa (barang scrap) kepada PT Multi Tembaga Utama dan PT Sinar Monas Industries.

e. The Company sold scrap to PT Multi Tembaga Utama and PT Sinar Monas Industries.

f. Pada tahun 2008 dan 2007, penjualan kepada Nextrom Enterprise Pte. Ltd. merupakan penjualan barang jadi.

f.

g. Piutang kepada Nextrom Enterprice Pte., Ltd merupakan piutang yang timbul atas penjualan barang jadi.

g. Receivable from Nextrom Enterprice Pte., Ltd. represents receivable arising from sales of finished goods.

Berdasarkan penelaahan terhadap kondisi keuangan pihak yang mempunyai hubungan istimewa, manajemen berpendapat seluruh piutang tersebut dapat ditagih sehingga atas piutang kepada pihak tersebut tidak diadakan penyisihan piutang ragu-ragu.

Based on the review of the status of related parties, the Company’s management is of the opinion that all the accounts are collectible, no allowance is necessary accordingly.

29. INFORMASI SEGMEN 2008 % Penjualan Beban pokok penjualan Laba kotor Beban usaha yang tidak dapat dialokasikan Laba dari usaha Beban lain - lain yang tidak dapat dialokasikan

In 2008 and 2007, sales the Company to Nextrom Enterprice Pte., Ltd. represent sales of finished goods.

29. BUSINESS SEGMENT INFORMATION Kabel listrik/ Power Cable Rp’ Juta/ Rp’million 93% 93%

1.047.712 954.268 93.444

Kabel telepon/ Telephone Cable % Rp’ Juta/ Rp’million 5% 5%

64.729 56.449 8.280

%

Energi/ Energy Rp’ Juta/ Rp’million 2% 2%

18.698 15.923 2.775

%

Jumlah/ Total Rp’ Juta/ Rp’million 100% 100%

1.131.138 1.026.640

2008

Sales Cost of goods sold

104.498

Gross profit

49.127

Unallocated operating expenses

55.372 53.645

Income from operation Unallocated other charge-net

Laba sebelum pajak Pajak penghasilan

1.727 1.648

Income before tax Income tax

Laba bersih sebelum hak minoritas

78

Net income before minority interest

Hak minoritas Laba bersih

-

Minority interest 78

Net income

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/36

Exhibit E/36 PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

29. INFORMASI SEGMEN (Lanjutan) 2007

29. BUSINESS SEGMENT INFORMATION (Continued)

Kabel listrik/ Power Cable % Rp’ Juta/ Rp’million

Penjualan Beban pokok penjualan

88,51% 88,00%

Laba kotor Beban usaha yang tidak dapat dialokasikan Laba dari usaha Beban lain - lain yang tidak dapat dialokasikan Laba sebelum pajak Pajak penghasilan Laba bersih sebelum hak minoritas Hak minoritas

651.047 558.337

Kabel telepon/ Telephone Cable % Rp’ Juta/ Rp’million 8,58% 9,59%

63.097 60.866

92.710

%

Energi/ Energy Rp’ Juta/ Rp’million

2,92% 2,41%

21.445 15.293

2.231

%

Jumlah/ Total Rp’ Juta/ Rp’million

100,00% 100,00%

6.152

Sales Cost of Goods Sold

101.093

22.922 -

Gross profit Unallocated operating expenses Income from operation Unallocated other charge-net Income before tax Income tax Net income before minority interest Minority Interest

22.922

Net income

13.677 37.418 14.496

30. ASET DAN KEWAJIBAN MONETER DALAM MATA UANG ASING

30. MONETERY ASSETS AND LIABILITIES DENOMINATED IN FOREIGN CURRENCY

Pada tanggal 31 Desember 2008 dan 2007, Perusahaan dan anak perusahaan mempunyai aset dan kewajiban moneter dalam mata uang asing sebagai berikut: 2008 Mata uan g Ek ui vale n as in g/ Ru pi ah / Foreign Rupiah currency Equivalent Ase t Kas dan setara kas

735.589 634.496

49.998 51.095

Laba bersih

2007

On 31 December 2008 and 2007, the Company and its Subsidiary have monetary assets and liabilities denominated in foreign currencies as follows: 2007 Mata u an g Eku i vale n asin g/ Ru pi ah/ Foreign Rupiah currency Equivalent Assets Cash and equivalents

US$ SG$ EUR GBP JP Y

3.163.676 52.169 435.315 262.674 503.494

34.642.253 396.865 6.717.957 4.150.909 61.038

48.197 6.329 13.163 -

453.968 41.154 181.120 -

US$ SG$ US$ SG$ EUR GBP

1.664.897 1.117.013 7.401.705 1.283.428 650.866

18.230.623 8.497.520 81.048.670 19.806.374 10.285.316

1.758.152 3.032.990 4.566.939 2.586.933 379.392 -

16.560.034 19.721.654 43.015.998 16.821.221 5.220.343 -

Uang muka

US$ EUR GBP

450.429 70.889 19.088

4.932.198 1.093.987 301.638

1.865.235 60.558 -

17.568.648 833.264 -

Purchase advances

Uang jaminan

US$

187.664

1.767.607

Security deposits

Piutang usaha P ihak yang mempunyai hubungan ist imewa P ihak ket iga

Jumlah

-

190.165.350

122.185.010

Trade receivables Related parties Third parties

Total

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/37

Exhibit E/37 PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

30. ASET DAN KEWAJIBAN MONETER DALAM MATA UANG ASING (Lanjutan)

30. MONETERY ASSETS AND DENOMINATED IN FOREIGN (Continued)

2008 Mata uan g Ek ui vale n as in g/ Ru pi ah / Foreign Rupiah currency Equivalnet Ke waji ban Ut ang bank Ut ang usaha P ihak yang mempunyai hubungan ist imewa P ihak ket iga

Hut ang perolehan aset tetap

US$

-

US$ SG$ EUR US$ SG$ EUR YUN

7.308.299 36.002 31.682.888 885.703 5.339 -

US$ SG$ YUN

346.961 76.232 66.902

2007 Mata u an g Eku i vale n asin g/ Ru pi ah/ Foreign Rupiah currency Equivalnet

-

6.430.063

60.564.763

80025878,74 288017,68 346927623,6 6737861,574 82393,5836 -

4.202.503 2.510.357 35.409 8.331.364 201.460 12.257 80.902

39.583.376 16.323.295 487.219 78.473.118 1.309.969 168.653 97.726

4246293,845 1093488,423 211790,244

318.835 -

3.003.207 -

439.613.348 Jum lah Ke wajiban - Be rsi h

11 Maret 2009 11 March 2009 Mata uang 1 EUR 1 US $ 1 SG $ 100 JPY 1 YUN

Liabilities Bank loan Trade account payable Related parties

Third parties

Liabilities for acquisition of property, plant and equipments

200.011.326

249.447.998

Pada tahun 2008, Perusahaan menderita kerugian selisih kurs sebesar Rp 41.935.214 (2007 : Rp 2.932.812).

77.826.316

Net Liabilities

In 2008, the Company has loss on foreign exchange Rp 41,935,214 (2007 : Rp 2,932,812).

31 Desember 2008/ 31 December 2008

31 Desember 2007/ 31 December 2007

13.442,84 9.186,00 6.485,37 12.122,98 1.670,00

13.759,76 9.419,00 6.004,73 8.306,74 1.207,95

15.485,81 11.990,00 7.806,14 12.018,49 1.178,03

LIABILITIES CURRENCY

Foreign Currencies 1 EUR 1 US $ 1 SG $ 100 JPY I YUN

Pada masa mendatang, nilai kurs masih mungkin berubahubah, dan mata uang Rupiah mungkin mengalami depresiasi atau apresiasi secara signifikan terhadap mata uang lainnya.

In the future the rates still fluctuate, and Rupiah has a possibility to depreciated significantly against other currencies.

Apabila kewajiban bersih dalam mata uang asing pada tanggal 31 Desember 2008 dinyatakan dengan kurs tengah Bank Indonesia per tanggal 11 Maret 2009, maka jumlah kewajiban bersih akan naik sebesar Rp 22.830.826

If net assets and liabilities in foreign currencies on 31 December 2008 on expressed using Bank Indonesia middle rates as on 11 Maret 2009, total net liabilities will increase by Rp 22,830,826.

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/38 PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

31. IMPLIKASI PENERAPAN STANDAR AKUNTANSI BARU

Exhibit E/38 PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

31. IMPLEMENTATION IMPLICATION ACCOUNTING STANDARDS

OF

NEW

Perusahaan menerapkan PSAK No. 16 (Revisi 2007) “Aset Tetap” pada tahun 2008. Dampak dari penerapan tersebut adalah reklasifikasi selisih penilaian kembali aset tetap ke defisit – tidak ditentukan penggunaannya per 1 Januari 2008 sebesar Rp 33.676.181.

The company implemented the SFAS No. 16 (Revised 2007) “Fixed Assets” in 2008. The implication of the implementation is reclassification of revaluation increment in fixed assets to the deficit – unappropiated at 1 January 2008 amounting to Rp 33,676,181.

Akun yang terpengaruh atas penyesuaian ini adalah sebagai berikut:

Account impacted by the adjustment are as follow:

Selisih penilaian kembali aset tetap Saldo laba (defisit) Tidak ditentukan penggunaannya

Sebelum/ Before

Penyesuaian/ Adjusment

Setelah/ After

33.676.181

( 33.676.181)

-

( 27.936.009)

32. IKATAN a. Perjanjian Jual Beli Tenaga Listrik Pada tanggal 16 Mei 2001, Perusahaan dan anak perusahaan mengadakan perjanjian kerjasama jual beli tenaga listrik berjangka 20 MW dengan PT Pelayanan Listrik Nasional Batam (PLN Batam). Perusahaan dan anak perusahaan akan membangun dan mengoperasikan sebuah fasilitas pembangkit listrik tenaga diesel dengan kapasitas 20 MW yang berlokasi di Baloi, Batam. PLN Batam akan membeli tenaga listrik dari PT Jembo Energindo (anak perusahaan) sebesar Rp 160 per kwh tidak termasuk bahan bakar. Perjanjian ini berlaku selama 8 tahun, sejak tanggal operasi komersil yang telah ditetapkan antara PLN Batam dan Perusahaan yaitu tanggal 15 Mei 2002. Pada akhir masa perjanjian, PLN Batam mempunyai hak opsi untuk membeli seluruh hak, kepemilikan dan kepentingan Perusahaan atas fasilitas pembangkit tenaga listrik diesel tersebut dengan harga yang ditetapkan kemudian. b. Bank Garansi Dalam rangka kontrak penjualannya, Perusahaan telah menyerahkan bank garansi sebagai jaminan pelaksanaan yang diterbitkan oleh Bank Mandiri dan Bank Finconesia untuk kepentingan langganannya terutama PT (Persero) Perusahaan Listrik Negara, tender dan ekspor. Pada tanggal 31 Desember 2008, jumlah bank garansi yang masih berlaku adalah sebesar Rp 13.990.531.

33.676.181

5.740.172

Property, plant and equipment revaluation increment Retained earnings (deficit) Unappropriated

32. COMITMENTS a.

Purchase and Sale of Electrical EnergAgreement On 16 May 2001, the Company and its subsidiary entered into a purchase and sale of electrical energy agreement for 20 MW with PT Pelayanan Listrik Nasional Batam (PLN Batam). The Company and its subsidiary will develop and operate a diesel electrical power generator facility with 20 MW capacity located in Baloi, Batam, PLN Batam will buy electrical energy from PT Jembo Energindo (the subsidiary) at Rp 160 per kwh excluding cost of fuel. The agreement is valid for a period of 8 years, starting from the commercial operations, which will be determined by PLN Batam and the Company, which has been 15 May 2002. At the expiration of the agreement, PLN Batam has the option right to buy the Company’s every rights, ownership and interests on the diesel electrical power generator at a price that will be agreed later.

b. Bank Guarantees In relation to the sales agreements, the Company has submitted bank guarantees issued by Bank Mandiri and Bank Finconesia for the benefit of its customers, mainly PT (Persero) Perusahaan Listrik Negara, bid bond and export. On 31 December 2008, total bank guarantees outstanding amounted to Rp 13,990,531.

These Consolidated Financial Statements are Originally Issued in Indonesian Language

Ekshibit E/39 PT JEMBO CABLE COMPANY Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 31 DESEMBER 2008 DAN 2007 (Disajikan dalam Ribuan Rupiah, kecuali dinyatakan lain)

33. STÁNDAR AKUNTANSI BARU

Exhibit E/39 PT JEMBO CABLE COMPANY Tbk AND ITS SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 (Expressed in Thousands Rupiah, unless otherwise stated)

33. NEW ACCOUNTING STANDARD

Ikatan Akuntan Indonesia (“IAI”) telah menerbitkan beberapa standar akuntansi revisi yang relevan bagi perusahan dan anak perusahaan sebagai berikut:

The Indonesian Institute of Accountants has published some revision accounting standard which are applicable to the Company and its subsidiary as follows:

a. PSAK No. 14 (Revisi 2008) – Persediaan (berlaku untuk laporan keuangan yang periodenya dimulai pada atau setelah tanggal 1 Januari 2009)

a. SFAS No. 14 (Revised 2008) – Inventories (applicable for financial statements covering periods beginning on or after 1 January 2009)

b. PSAK No. 50 (Revisi 2006) - Instrumen Keuangan: Penyajian dan Pengungkapan (berlaku untuk laporan keuangan yang periodenya dimulai pada atau setelah tanggal 1 Januari 2010).

b. SFAS No. 50 (Revised 2006) - Financial Instrument: Presentation and Disclosures (effective for financial statements covering periods beginning on or after 1 January 2010).

c. PSAK No. 55 (Revisi 2006) - Instrumen Keuangan : Pengakuan dan Pengukuran (berlaku untuk laporan keuangan yang periodenya dimulai pada atau setelah tanggal 1 Januari 2010).

c. SFAS No. 55 (Revised 2006) - Financial Instrument: Recognition and Measurement (effective for financial statements covering periods beginning on or after 1 January 2010).

Perusahaan masih mempelajari dampak yang mungkin timbul dari penerapan standar-standar ini terhadap laporan keuangan konsolidasian.

The Company still studying the effect probably arise from implementation of these standards to the consolidated financial statements.

34. PENGARUH KRISIS KEUANGAN GLOBAL TERHADAP PERUSAHAN

34. THE IMPACT OF GLOBAL FINANCIAL CRISIS TO THE COMPANY

Pasar uang dan pasar modal global telah mengalami ketidakstabilan dan krisis kredit yang parah. Kemampuan pelanggan Perusahaan untuk melanjutkan kegiatan usaha dan mempertahankan tingkat profitabilitas serta untuk membayar hutangnya pada saat jatuh tempo mungkin sangat tergantung pada efektivitas kebijakan fiskal dan tindakan lainnya yang dilakukan untuk mencapai pemulihan ekonomi, yang berada diluar kendali mereka.

The global financial and capital markets have experienced severe credit crunch and volatility. The ability of the Company’s customers to maintain operations and profitability and to pay their debts as they mature may be dependent to a large extent on the effectiveness of the fiscal measures and other actions, beyond their control, undertaken to achieve economic recovery.

Namun demikian, manajemen memiliki ekspektasi yang wajar bahwa Perusahaan akan dapat mengelola risiko usaha dengan baik walau dalam kondisi ekonomi yang tidak pasti saat ini.

Nevertheless, the management has a reasonable expectation that the Company is well placed to manage its business risks successfully despite the current uncertain economic outlook.

Manajemen berkeyakinan bahwa Perusahaan memiliki sumber daya yang memadai untuk melanjutkan kegiatan usahanya dalam waktu mendatang yang dapat diduga secara pantas. Oleh karena itu, dasar kelangsungan usaha tetap digunakan sebagai dasar penyusunan laporan keuangan.

The management believes that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

35. PERSETUJUAN KONSOLIDASI

LAPORAN

KEUANGAN

Manajemen Perusahaan bertanggung jawab atas penyusunan laporan keuangan konsolidasi terlampir yang telah diselesaikan pada tanggal 11 Maret 2009.

35. APPROVAL OF STATEMENTS

CONSOLIDATED

FINANCIAL

The Company’s management is responsible for the preparation of the consolidated financial statements which were completed on 11 March 2009.

00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000

00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 00000000000000000000000000000000000000000 Kantor Pusat dan Pabrik I Head Office and Factory Jl. Pajajaran, Ds. Gandasari - Jatiuwung, Tangerang 15137 Indonesia Phone : (021) 556-50468, (021) 591-9442, 43, 45-47 Fax : (021) 556-50466 E-mail : [email protected] Web : http://www.jembo.com

Kantor I Office Mega Glodok Kemayoran, Office Tower B 6th Floor Jl. Angkasa Kav B - 6, Kemayoran Jakarta Pusat - Indonesia Phone : (021) 6570-1511 (Hunting) (021) 2664-6933 (Hunting) Fax : (021) 6570-1488 (021) 6570-1556