EVERY RUPIAH EARNED BY BAKRIE MUST COME TO BENEFIT A LARGE NUMBER OF PEOPLE

1 Annual Report 2010 Bakrieland

Dua puluh tahun berkarya di bisnis properti, Bakrieland telah menempatkan diri sebagai salah satu perusahaan properti yang layak diperhitungkan. Namun pencapaian ini belum lengkap jika belum berhasil memberikan manfaat bagi masyarakat sekitar, tempat Bakrieland berdiri dan berkembang. Di tahun 2010 ini, selain menuntaskan target penyelesaian proyek, Bakrieland juga mengambil langkah maju untuk lebih fokus dalam kegiatan CSR. Kami berkomitmen untuk memberikan kontribusi yang lebih berarti dalam pengembangan masyarakat dan pelestarian lingkungan sekarang dan di masa mendatang. After twenty years operating in the property business, Bakrieland has positioned itself as one of the leading property developers in Indonesia. However, this success could not have been achieved without Bakrieland’s contribution of key benefits to the local communities in which it operates. Besides accomplishing its project completion targets in 2010, Bakrieland also focused its efforts on CSR initiatives and activities. We are always committed, in the most meaningful way, towards community development and the preservation of the environment for now and in the future.

“SETIAP RUPIAH YANG DIHASILKAN BAKRIE, HARUS DAPAT BERMANFAAT UNTUK ORANG BANYAK.” - Almarhum Achmad Bakrie -

“EVERY RUPIAH EARNED BY BAKRIE MUST COME TO BENEFIT A LARGE NUMBER OF PEOPLE.” - The Late Achmad Bakrie -

Kegiatan pengembangan masyarakat merupakan bagian penting yang melekat pada setiap usaha yang dijalani Bakrieland. Kami ingin tumbuh bersama masyarakat sekitar dengan memberikan manfaat sebanyak mungkin pada setiap kawasan yang kami kembangkan.

2 craftman in Kuta/Legian, Bali Arts Laporan Tahunan 2010 Bakrieland


Community development activities are an inherent part in Bakrieland’s operations. We want to grow together with the local communities by engendering a positive multiplier effect in every development project that we undertake.

Didih, stone worker from Sukamantri Village by Bogor Nirwana Residence

Lebih dari itu, kami bersyukur bahwa kehadiran Bakrieland di beberapa daerah telah memberikan manfaat langsung bagi masyarakat setempat melalui penyediaan lapangan pekerjaan dan terbukanya peluang usaha baru.

4 Jaenab, gardener at Kanci-Pejagan Toll Road area Laporan Tahunan 2010 Bakrieland


Moreover, we are grateful that Bakrieland’s presence in some areas has given direct benefits to the local communities by offering employment and new business opportunities.

Jamil Husein, seller at the local traditional market nearby Bogor Nirwana Residence

daftar isi 56

134

PEMBUKA INTRODUCTION

LAPORAN BISNIS BUSINESS REPORT

LAPORAN CSR CSR REPORT

1

58 70 78 86 94

136

8

10

12 14 16 17 18 22 26 28 29 30 32 34 36 38

44

52

penjelasan tema description of the theme apa kata mereka tentang bakrieland testimony about bakrieland mengapa berinvestasi di bakrieland? why invest in bakrieland sekilas perusahaan company in brief visi dan misi perusahaan company’s vision and mission nilai-nilai dan budaya perusahaan corporate values and culture pencapaian bakrieland bakrieland facts ikhtisar keuangan financial highlights ikhtisar saham dan obligasi stocks and bonds highlights aksi korporasi corporate action ikhtisar bisnis business highlights struktur perusahaan corporate structure area kerja working area jejak langkah perusahaan company milestone peristiwa penting 2010 2010 event highlights penghargaan & sertifikasi awards & certifications laporan presiden komisaris report of the president commissioner laporan presiden direktur & ceo report of the president director & ceo pembahasan strategi 2010 2010 strategy overview

38

Laporan Presiden Komisaris Report of the President Commissioner

96 102 106 118 126 130

city property landed residential hotel and resort property-related infrastructure rencana ke depan future outlook pemasaran marketing audit internal internal audit manajemen risiko dan kepatuhan risk management and compliance sumber daya manusia human capital teknologi informasi information technology keselamatan, kesehatan, dan lingkungan safety, health, and environment

tanggung jawab sosial perusahaan corporate social responsibility

contents 234

299

LAPORAN GCG GCG REPORT

LAPORAN MD&A MD&A REPORT

DATA PERUSAHAAN CORPORATE DATA

162

236

300

160 166 204 208 214 220

223 226

228

230

laporan penilaian tata kelola perusahaan assessment report on corporate governance tata kelola perusahaan corporate governance corporate affairs sekretaris perusahaan corporate secretary hubungan investor investor relations perlindungan konsumen consumer protection laporan komite audit audit committee report laporan komite pemantau risiko risk monitoring committee report laporan komite nominasi dan remunerasi nomination and remuneration committee report laporan komite kebijakan corporate governance corporate governance policy committee report

diskusi dan analisis manajemen management discussion and analysis

303 305 305 306

306 306

307 308 312 313 315

316 317

318

331

44

Laporan Presiden Direktur & CEO Report of the President Director & CEO

profil dewan komisaris board of commissioners’ profile profil direksi board of directors’ profile profil komite-komite committees’ profile • komite audit audit committee • komite nominasi dan remunerasi nomination and remuneration committee • komite pemantau risiko risk monitoring committee • komite kebijakan corporate governance corporate governance regulatory committee manajemen senior senior management produk & layanan products & services struktur organisasi organization structure nama dan alamat anak perusahaan name and addresses of subsidiaries alamat kantor pemasaran unit usaha/kemitraan business unit marketing informasi bagi pemegang saham information for shareholders surat pernyataan dewan komisaris dan direksi board of commissioners and directors’ statement indeks untuk bapepam-lk index for bapepam-lk (indonesia capital market & financial institution supervisory agency) laporan keuangan financial report

APA KATA MEREKA TENTANG BAKRIELAND TESTIMONY ABOUT BAKRIELAND

“Adhi Karya telah bekerja sama (sebagai kontraktor utama) dengan Bakrieland dalam proyek pembangunan tol KanciPejagan. Selama berlangsungnya proyek, kami merasakan kerja sama yang sangat baik dan komitmen yang tinggi dari pihak Bakrieland, tidak hanya di tingkat para pengambil keputusan, tetapi juga sampai ke level bawah. Artinya, keputusan di atas juga sampai dan dilaksanakan di tingkat bawah. Bakrieland sangat terbuka dalam diskusi-diskusi dengan kami untuk masalah teknis. Hal ini mendorong kami untuk banyak menciptakan inovasi teknik, sehingga pekerjaan menjadi lebih cepat, lebih baik dan lebih efisien. Kami berharap untuk dapat terus bekerja sama dan menjadi mitra yang terpercaya bagi Bakrieland untuk masa kini dan yang akan datang.”

“Adhi Karya has collaborated (as the main contractor) with Bakrieland in the Kanci-Pejagan toll road development project. During the project, we had good teamwork and Bakrieland showed such high commitment, both at the decision-makers’ and operations’ levels. This meant that decisions made by top management were also implemented at the lower levels. Bakrieland was very open in discussions with us on technical problems. This encouraged us to create many more technical innovations to expedite the work and yield better and more efficient results. We hope to continue the cooperation and become a trusted partner for Bakrieland for now and in the future.”

Bambang Triwibowo President Director of PT Adhi Karya (Persero) Tbk

“Saya memiliki hubungan yang sangat baik dengan BSU maupun Bakrieland. Karena hubungan baik inilah kami ingin melanjutkan kerja sama dengan menawarkan desain terbaru untuk proyek yang akan datang di daerah Sentra Timur. Saya berharap, hubungan baik ini akan terus terjalin.” “I have an excellent relationship with BSU and Bakrieland. Because of this good relationship we want to continue our cooperation by offering the latest design for the future projects in Sentra Timur area. I hope our good relationship will continue to be maintained.”

M. Archica (Chicco) Business Partner for the Wave project Rasuna Epicentrum

8 Laporan Tahunan 2010 Bakrieland

”Dengan senang hati saya memperpanjang kerja sama dengan Aston Rasuna untuk sepuluh tahun lagi. Sejak membeli unit lima tahun lalu, saya bisa menikmati return 9-12%. Kini 50 persen investasi saya sudah kembali.” “I am pleased to extend my partnership with Aston Rasuna for the next ten years. Since buying the unit five years ago, I have been able to enjoy a 9-12% return. Now 50 percent of my investment is back.”

Budhijanto Unit Owner Aston Rasuna


”Saya termasuk sepuluh orang pembeli pertama sejak Ijen Nirwana Residence (INR) dikembangkan pada awal 2007. Saya langsung jatuh cinta pada INR. INR berada di tengah kota sehingga dekat dengan berbagai fasilitas publik seperti sekolah, rumah sakit, pusat rekreasi dan belanja, namun memiliki suasana yang sejuk dan tenang. Saya selalu memanfaatkan libur akhir pekan atau hari besar untuk menikmati rumah resor saya di INR.” “I was the first ten buyers when Ijen Nirwana Residence (INR) was developed in early 2007. I immediately fell in love with the INR. INR is located in the center of town, very close to public facilities such as schools, hospitals, recreation and shopping center. However, it still has fresh atmosphere and very peaceful. I always spend the weekends or holidays to enjoy my resort home in INR.”

Muliati Mujihadi House Owner at Ijen Nirwana Residence

“Kini bila hendak memenuhi kebutuhan sehari-hari, berbelanja, menjamu klien atau bersantai bersama teman dan keluarga, saya tinggal melangkah ke Epicentrum Walk, tidak jauh dari tempat tinggal saya di The 18th Residence di Rasuna Epicentrum, Kuningan, Jakarta. Saya bisa berjalan kaki di udara terbuka dan bersih, sambil melihat pepohonan hijau dan langit serta melewati pedestrian yang nyaman. Memang sungguh pengalaman yang langka dan mewah di Jakarta yang macet, bising, dan berdebu ini.” Anggini Setiawan Apartment Owner at The 18th Residence Rasuna Epicentrum

“Sekarang rasanya saya tidak gampang sakit, lebih tenang dan tentram sejak bermukim di sini. Saya merasakan banyak manfaat dan pengalaman baru setelah menghuni rumah di klaster Tirta Nirwana hampir setahun terakhir ini. Saya suka tempat tanpa polusi udara dan suara untuk bermukim. Selain itu, lokasi ini memiliki fasilitas lengkap seperti kolam renang, pusat rekreasi, kuliner, dan belanja.” “Now I do not seem to get sick as easily, I’m calmer and more peaceful since living here. I have enjoyed many benefits and new experiences since staying in my house at the Tirta Nirwana cluster for the past year. I like living where there is no pollution and noise. In addition, this location has complete facilities such as swimming pool, recreation center, culinary spots, and shopping outlets.“

Atty Kusmayati Penghuni Bogor Nirwana Residence

“Now, for my daily needs, shopping, entertaining clients or relaxing with friends and family, I just step into Epicentrum Walk, not far from where I live at The 18th Residence Rasuna Epicentrum, Kuningan, Jakarta. I can walk under the open and clean air, looking at green trees and sky as well as walking on convenient pedestrian track. It is indeed a rare and luxurious experience in the jammed, noisy and dusty Jakarta.”

BAKRIELAND?

Bakrie Tower, Rasuna Epicentrum

MENGAPA

BERInvestASI di WHY INVEST IN 10 Laporan Tahunan 2010 Bakrieland


PARTNER YANG KUAT

PERTUMBUHAN TINGGI

STRONG PARTNER

STRONG REVENUE GROWTH

33.73

%

Limitless & Perumnas Limitless & Perumnas

Pertumbuhan pendapatan rata-rata selama 5 tahun terakhir Average growth of revenues in the last 5 years.

NERACA KEUANGAN YANG SEHAT

SALAH SATU SAHAM TERLIKUID

SOLID BALANCE SHEETS

ONE OF THE MOST LIQUID STOCKS

54.40

Rp

Rasio hutang terhadap ekuitas | Debt equity ratio

Rata-rata nilai perdagangan saham di 2010

43.70

Average daily trading value in 2010

%

%

50

billion/day

Rasio hutang setelah dikurangi kas dan setara kas terhadap ekuitas Net Gearing LAND BANK YANG BESAR

PEMIMPIN PASAR

MODEL USAHA YANG UNIK

LARGE LAND BANK

MARKET LEADER

UNIQUE BUSINESS MODEL

14,326

Pengembang terbesar di Jakarta CBD dan Kota Bogor

Properti dan properti terkait infrastruktur (nilai tambah)

The largest Developer in Jakarta CBD and Bogor

Property and propertyrelated infrastructure (value creation)

ha

Total Land Bank

SEKILAS Perusahaan

Company in Brief

DREAM DESIGN DELIVER PT Bakrieland Development Tbk adalah perusahaan pengembang kawasan terpadu di Indonesia yang bergerak dalam pembangunan properti dan proyek-proyek infrastruktur terkait properti. Pada awalnya, Perusahaan didirikan dengan nama PT Purilestari Indah Pratama pada Juni 1990, kemudian berganti nama menjadi PT Elang Realty pada Desember 1994, sebelum menjadi PT Bakrieland Development Tbk pada tahun 1997. Sebagai pengembang superblok pertama dan terbesar di kawasan bisnis utama Jakarta, yaitu Rasuna Epicentrum Kuningan, Bakrieland telah berhasil mengembangkan berbagai proyek properti perkotaan, kawasan perumahan, serta hotel dan resor kelas dunia di beberapa lokasi strategis dan bergengsi di Indonesia. Keberhasilan Bakrieland menyelesaikan ruas jalan tol Kanci-Pejagan di tahun 2009 menjadikan Bakrieland sebagai perusahaan properti pertama di Indonesia yang memiliki unit usaha dalam bidang pengembangan jalan tol berskala besar. Seluruh proyek Bakrieland dikembangkan dengan konsep ramah lingkungan dan bermanfaat bagi masyarakat sekitarnya. Selama lima tahun terakhir, Bakrieland telah membukukan kinerja keuangan yang solid, ditandai dengan rata-rata pertumbuhan penjualan tahunan yang baik sebesar 33,73%. Dengan kapitalisasi pasar mencapai Rp 6,3 triliun di Bursa Efek Indonesia per 31 Desember 2010, Bakrieland merupakan salah satu perusahaan dengan kapitalisasi pasar tertinggi di sektor industri properti. Dengan profil keuangan yang sehat, portofolio bisnis yang beragam, dan cadangan lahan strategis yang luas, Bakrieland akan terus bertumbuh seiring dengan pengembangan proyeknya di tahun-tahun mendatang.



Rasuna Epicentrum

PT Bakrieland Development Tbk is an integrated property developer that engages in property and property-related project development in Indonesia. At first, the Company was established under the name PT Purilestari Indah Pratama in June 1990, changing to PT Elang Realty in December 1994, before becoming PT Bakrieland Development Tbk in 1997. As the first and largest superblock developer in the Central Business District in Jakarta, namely with the Rasuna Epicentrum Kuningan, Bakrieland has successfully developed a range of urban properties, residential estates, and world-class hotels and resorts at strategic and prestigious locations in Indonesia. In 2009, with its successful completion of its first toll road project, called the 35 km Kanci-Pejagan toll road, which connects Cirebon (West Java) and Brebes (Cental Java). Bakrieland became the only property company in Indonesia having a business unit that operates a large scale toll road development. All of Bakrieland’s project developments emphasize an eco-friendly concept and particularly considers the benefits for the local community. For the past five years, Bakrieland has continuously recorded solid financial performances, as indicated by its good compounded annual growth rate that reaches 33.73%. With market capitalization of Rp 6.3 trillion at the Indonesia Stock Exchange as of 31 December 2010, Bakrieland remains as one of the companies with the largest market capitalization in the property sector industry. With a sound financial profile, diversified business portfolio, and large and strategically placed land bank, Bakrieland will continue to flourish in line with its project developments in the years to come.

Vision

VISI

Menjadi perusahaan terkemuka di dunia dalam bidang real estat, properti, infrastruktur dan bidang usaha terkait properti lainnya. To be a prominent global company in real estate, property, infrastructure and property-related business.

Penjelasan Visi Bakrieland • “Terkemuka di dunia” berarti Bakrieland bercita-cita untuk menjadi suatu perusahaan yang dikenal dan disegani di masa depan pada tingkat nasional dan internasional. • “Bidang real estat, properti, infrastruktur dan bidang usaha terkait properti lainnya” menunjukkan bidang-bidang usaha yang menjadi konsentrasi Bakrieland, yang berkaitan dan saling menunjang satu sama lain untuk menjadi perusahaan terkemuka di dunia.


Description of Bakrieland’s Vision • “A prominent global company” means Bakrieland is inspired to be a well-known and respected company in the future at both national and international levels. • “Real estate, property, infrastructure and property-related business” demonstrates Bakrieland’s focus on businesses which are related and supportive of one another.

15

Mission

MISI

Annual Report 2010 Bakrieland

Mengembangkan dan mengelola portofolio investasi yang bermutu, didukung oleh tim yang berfokus pada kinerja dan bertumpu pada kekuatan sumber daya manusia, teknologi informasi tercanggih, serta jaringan usaha yang kuat, guna meningkatkan nilai bagi Pemegang Saham. Professionally develop and manage a quality business portfolio supported by a team performance-driven and professional human resources, the most advanced information technology and a strong business network, thereby increasing the value for Shareholders.

Penjelasan Misi Bakrieland • “Mengembangkan dan mengelola portofolio investasi yang bermutu” berarti dalam mengembangkan produk-produknya, Bakrieland senantiasa berusaha memberikan kualitas terbaik dan selesai tepat waktu, menggunakan konsep rancangan yang inovatif dan berkelas tinggi, ramah lingkungan, memperindah tata kota, serta berstandar internasional, sehingga menjadikannya investasi yang bermutu.

• “Didukung oleh tim yang berfokus pada kinerja” dimana tim yang mendukung pencapaian Visi Bakrieland terdiri dari para individu yang memiliki komitmen untuk meningkatkan prestasi kerjanya. • “Bertumpu pada kekuatan sumber daya manusia, teknologi informasi tercanggih, serta jaringan usaha yang kuat” berarti aset Bakrieland yang menjadi andalannya untuk maju adalah sumber daya manusia, teknologi informasi, dan jaringan usaha yang kuat. Oleh karena

itu, peningkatan kualitas sumber daya manusia, pemutakhiran teknologi, serta pembinaan dan pengembangan jaringan usaha selalu menjadi prioritas utama. • “Meningkatkan nilai bagi Pemegang Saham” berarti seluruh kekuatan yang dimiliki Bakrieland akan mendorongnya untuk terus maju dan berkembang, yang pada gilirannya akan memberikan keuntungan bagi para Pemegang Saham.

Description of Bakrieland’s Mission • “Professionally develop and manage a quality business portfolio” means in developing its products, Bakrieland strives to provide the best quality and on-time delivery, with innovative and environmentalfriendly design concepts that beautify the city, and completes this with international quality standards, making Bakrieland a worth-buying investment.

• “Supported by professional and performance-driven teams” means that our teams support the accomplishment of Bakrieland’s Vision with individual commitments to improve performance. • “Relying on a strong human resource, the most advanced information technology, and a strong business network” means that Bakrieland’s assets to further growth include its strong human

resources, technology, and business networks. Therefore, improvement of human resources quality, updates of technology, and maintenance and development of business networks are always key priorities. • “Increasing value for Shareholders” means that all strengths that Bakrieland possesses drive us to continuously progress and develop; this in turn will deliver profit for the Shareholders.

Nilai-nilai dan Budaya Perusahaan Corporate Values and Culture

Integritas

Inovatif

Selalu menjunjung tinggi nilai-nilai kejujuran, loyalitas dan obyektivitas Always upholding the value of honesty, loyalty and objectivity

Selalu mengeluarkan ide-ide baru demi memenangkan persaingan usaha Always proposing new ideas to win over business competition

Integrity

Responsif Responsive

Peka atas kebutuhan pelanggan dan bereaksi secara cepat dan tepat Sensitive to the customers’ needs, reacting rapidly and properly

Innovative

Jaringan dan Kerja sama Networking and Teamwork

Jaringan yang luas dan kerja sama yang erat Extending networks and strengthening collaboration

Disiplin Discipline

Teguh dalam bekerja Tenacious at work

Saling Menghormati

Respect Each Other

Adaptif Adaptive

Mampu mengikuti perkembangan dunia usaha Able to follow developments in the business world


Menjunjung tinggi nilai-nilai kemanusiaan Following the values of humanity

Budaya Perusahaan Corporate Culture

Kewirausahaan, Kekeluargaan, dan Profesionalisme Entrepreneurship, Togetherness, and Professionalism Pelayanan Berkualitas Terbaik Excellent Service Quality Inovasi Innovation


Area pengembangan terbesar di Jakarta CBD (total luas pengembangan 53,5 ha). The largest development area in Jakarta CBD (total development area 53.5 ha). Ketersediaan cadangan lahan terbesar di Jakarta CBD (memiliki 16,1 ha cadangan lahan). The largest land bank in Jakarta CBD (commanding 16.1 ha of land bank). Area pengembangan terbesar di kota Bogor (total luas pengembangan 1.002 ha). The largest development area in Bogor city (total development area 1,002 ha).

Pencapaian BAKRIELAND

Salah satu perusahaan properti tercatat terbesar di BEI dalam hal kapitalisasi pasar (Rp 6,3 triliun per 31 Desember 2010). One of the largest listed property companies in IDX in terms of market capitalization (Rp 6.3 trillion as of 31 December 2010). Salah satu saham properti dengan nilai perdagangan rata-rata harian tertinggi di BEI (Rp 50,1 miliar per hari pada tahun 2010). One of the highest average daily trading value of property stocks in IDX (Rp 50.1 billion per day in 2010).

Salah satu perusahaan properti dengan ekuitas terbesar yang tercatat di BEI (Rp 8 triliun per 31 Desember 2010). One of the biggest property companies in terms of equity listed at the IDX (Rp 8 trillion as of 31 December 2010). Salah satu perusahaan properti dengan aset terbesar yang tercatat di BEI (Rp 17,1 triliun per 31 Desember 2010). One of the biggest property company in terms of assets listed at the IDX (Rp 17.1 trillion as of 31 December 2010).

Perusahaan properti pertama yang mengintegrasikan bisnisnya dengan pengembangan jalan tol berskala besar. The first property company that integrates its business with a large scale of toll road development.

Bakrieland Facts

1 2 3 4 5 6 7 8 9

Pengembang Jakarta CBD terbesar (menguasai sekitar 26% dari total pasokan apartemen di Jakarta CBD pada tahun 2010). The largest Jakarta CBD Developer (commands around 26% of total apartment supply in Jakarta CBD in 2010)

IKHTISAR KEUANGAN

Financial Highlights

Angka-angka pada seluruh tabel dan grafik dalam Laporan Tahunan ini menggunakan notasi Bahasa Inggris

Numerical notations in all tables and graphs in this Annual Report are in English

Dalam juta Rupiah, kecuali disebutkan lain

In million Rupiah, except stated otherwise

2010

%

2009

2008

1,059,004

1,053,801

2007

2006

Hasil-hasil Operasi Pendapatan Bersih

Result of Operations 1,367,556

29.14%

782,106

393,232

Laba Kotor

669,273

34.37%

498,098

510,254

321,142

167,189

Laba Usaha

241,714

44.95%

166,751

226,031

170,508

72,201

15,269

-63.81%

42,192

81,844

110,142

8,978

178,705

35.12%

132,256

272,100

134,185

67,608

Jumlah Taksiran Beban Pajak Laba Bersih

Laba per Saham Jumlah Saham yang Beredar (jutaan lembar)

Net Revenue Gross Profit Operating Profit Provision For Tax Expenses Net Profit

Profit per Share 39,919

100.44%

19,916

19,916

19,600

5,600

Outstanding Shares (millions shares)

Laba Usaha per Saham (Rupiah)

7.76

-7.32%

8.37

11.35

11.54

11.73

Operating Profit per Share

Laba Bersih per Saham (Rupiah)

5.74

-13.61%

6.64

13.66

9.08

10.98

Net Profit per Share (Rupiah)

8,121,683

107.70%

3,910,223

4,542,508

3,833,563

(47,449)

Posisi Keuangan Modal Kerja Bersih Aset Lancar Aset Tetap Jumlah Aset Jumlah Investasi

(Rupiah)

Financial Position Net Working Capital

10,281,401

54.96%

6,634,866

6,457,550

3,201,151

977,939

Current Assets

5,639,422

22.18%

4,615,514

1,488,690

701,186

637,822

Fixed Assets

17,064,196

47.20%

11,592,631

8,334,991

5,708,016

2,395,677

1,124,681

228.61%

342,251

388,751

146,346

62,042

Total Assets Total Investment

Kewajiban Lancar

2,159,718

-20.73%

2,724,643

1,915,042

1,066,359

853,664

Jumlah Kewajiban

6,582,727

13.61%

5,794,139

3,133,653

1,508,297

1,036,383

Total Liabilities

Modal Sendiri

8,021,729

72.79%

4,642,528

4,507,679

4,132,832

1,318,830

Stockholders’ Equity

1.05%

-0.09%

1.14%

3.26%

2.35%

2.82%

Rasio Keuangan Tingkat Pengembalian Aset Tingkat Pengembalian Ekuitas

Current Liabilities

Financial Ratios Return on Assets

2.23%

-0.62%

2.85%

6.04%

3.25%

5.13%

476.05%

232.54%

243.51%

337.20%

300.19%

114.56%

Rasio Kewajiban terhadap Ekuitas

82.06%

-42.74%

124.81%

69.52%

36.50%

78.58%

Debt to Equity Ratio

Rasio Tingkat Kewajiban terhadap Aset

38.58%

-11.40%

49.98%

37.60%

26.42%

43.26%

Debt to Assets Ratio

3x

-4 x

7x

5x

24 x

10 x

Rasio Lancar

Informasi Keuangan lainnya EBITDA terhadap Beban Bunga

Return on Equity Current Ratio

Other Financial Information EBITDA to Interest Expense

Tingkat Perputaran Persediaan

0.3 x

0.0 X

0.3 x

0.6 x

0.88 x

0.96 x

Inventory Turnover

Tingkat Perputaran Aset Tetap

0.3 x

-0.1 x

0.4 x

1.25 x

1.17 x

0.61 x

Property & Equipment Turnover

0.10 x

-0.01 x

0.11 x

0.15 x

0.19 x

0.16 x

48.94%

1.90%

47.03%

48.47%

41.06%

42.52%

Tingkat Perputaran Jumlah Aset Marjin Laba Kotor


Total Assets Turnover Gross Profit Margin


Pendapatan Bersih | Net Revenue dalam juta Rupiah | in million Rupiah

1,367,556 1,053,801 1,059,004 782,106

393,232

2006

2007

2008

2009

2010

29.14%

Laba Bersih | Net Profit

dalam juta Rupiah | in million Rupiah 272,100

178,705 134,185

132,256

67,608

2006

2007

2008

2009

2010

35.12%

Jumlah Aset | Total Assets

dalam juta Rupiah | in million Rupiah

17,064,196

11,592,631 8,334,991 5,708,016 2,395,677

2006

2007

2008

2009

2010

47.20%

Jumlah Ekuitas | Total Equity

dalam juta Rupiah | in million Rupiah

8,021,729

4,132,832

4,507,679 4,642,528

1,318,830

2006

2007

2008

2009

2010

72.79%

IKHTISAR KEUANGAN Financial Highlights

Rangkuman Kinerja Keuangan | Summary of Financial Performance Dalam miliar Rupiah, kecuali disebutkan lain

In billion Rupiah, except stated otherwise

Posisi Keuangan

2010

Jumlah Aset

17,064

;

47.20%

Total Assets

Aset Lancar

10,281

;

54.96%

Current Assets

Aset Tetap

5,639

;

22.18%

Fixed Assets

Jumlah Kewajiban

6,583

;

13.61%

Total Liabilities

Jumlah Ekuitas

8,022

;

72.79%

Total Equity

Jumlah Investasi

1,125

;

228.61%

Total Investment

Modal Kerja Bersih

8,122

;

107.70%

Net Working Capital

1,368

;

29.14%

Net Revenue

Laba Kotor

669

;

34.37%

Gross Profit

Laba Usaha

242

;

44.95%

Operating Profit

Laba Sebelum Pajak

226

;

11.07%

Income Before Tax

Financial Position

Hasil-hasil Operasi Pendapatan Bersih

Result of Operations

Rasio Keuangan

Financial Ratios

Tingkat Pengembalian Aset

1.05%

;

-0.09%

Return on Assets

Tingkat Pengembalian Ekuitas

2.23%

;

-0.62%

Return on Equity

Rasio Lancar

476.05%

;

232.54%

Current Ratio

Kewajiban terhadap Ekuitas

82.06%

;

-42.74%

Debt to Equity

Kewajiban terhadap Aset

38.58%

;

-11.40%

Debt to Assets

EBITDA terhadap Beban Bunga

3x

;

-4 x

Tingkat Perputaran Persediaan

0.3 x

;

Tingkat Perputaran Aset Tetap

0.3 x

;

-0.1 x

0.10 x

;

-0.01 x

48.94%

;

1.90%

Indikator Keuangan Lain

Tingkat Perputaran Jumlah Aset Marjin Laba Kotor


Other Financial Indicators

–

0.0 x

EBITDA to Interest Expense Inventory Turnover Property & Equipment Turnover Total Assets Turnover Gross Profit Margin


laba kotor gross profit

laba usaha operating profit

marjin laba kotor gross profit margin

rasio lancar current ratio

34.37% 1.90%

aset tetap fixed assets

22.18% peningkatan rasio kewajiban terhadap aset increase of debt to assets ratio

11.40%

44.95% 232.54%

modal kerja bersih net working capital

107.70% peningkatan rasio kewajiban terhadap ekuitas increase of debt to equity ratio

42.74%

Ikhtisar Saham & Obligasi

Stocks & Bonds Highlights

Komposisi Pemegang Saham | Composition of Shareholders Per 31 Desember 2010 As of 31 December 2010

Jumlah Saham Number of Shares Modal Dasar | Authorized Capital

-

Jumlah (Rp) Amount (Rp) 10,000,000,000,000

% -

Saham Biasa Seri A | Ordinary Shares (A-Series)

1,400,000,000

-

-

Saham Biasa Seri B | Ordinary Shares (B-Series)

93,000,000,000

-

-

Modal Ditempatkan dan Disetor Penuh | Issued and Paid Up Capital CGMI 1 Client Safekeeping Account

-

4,858,177,212

12.17

Reksadana Danamas Stabil

-

3,602.000,000

9.02

Masyarakat (kepemilikan di bawah 5%) | Public (ownership below 5%)

-

31,459,594,178

78.81

Jumlah Lembar Saham | Total Number of Shares

-

39,919,771,390

100.00

Jumlah Modal Ditempatkan dan Disetor Penuh Amount of Issued and Paid Up Capital

-

4,551,977,139,000

-

Saham dalam Portepel | Subscription Stock Saham Biasa Seri A | Ordinary Shares (A-Series) Saham Biasa Seri B | Ordinary Shares (B-Series)

54,480,228,610

5,448,022,861,000

-

CGMI 1 CLIENT SAFEKEEPING ACCOUNT (Kode Kustodian dari Avenue Luxembourg Sarl) Avenue Luxembourg Sarl adalah perusahaan investasi global yang merupakan bagian dari Avenue Capital Group yang memiliki kantor pusat di New York, Amerika Serikat serta beberapa kantor cabang di Eropa seperti di London, Luxembourg, Munich, dan 9 kantor cabang di Asia.

CGMI 1 CLIENT SAFEKEEPING ACCOUNT (Custodian Code from Avenue Luxembourg Sarl) Avenue Luxembourg Sarl is a global investment company, which is part of Avenue Capital Group with headquarters in New York, USA, and has several branch offices in Europe such as London, Luxembourg, Munich, and 9 branch offices in Asia.

REKSADANA DANAMAS STABIL Reksadana Danamas Stabil adalah salah satu produk reksadana yang dikelola oleh PT Sinarmas Sekuritas yang terafiliasi dengan Sinar Mas Group.

REKSADANA DANAMAS STABIL Reksadana Danamas Stabil is a mutual funds product managed by PT Sinarmas Sekuritas, a company affiliated with Sinar Mas Group.



Kronologi Pencatatan Saham | Stock Listing Chronology

IDX: ELTY • Reuters: ELTY.JK • Bloomberg: ELTY.IJ

Tanggal Pencatatan Listing Date

Saham Terakumulasi Accumulated Shares

Nominal Terakumulasi (Rp) Accumulated Nominal (Rp)

Pra Penawaran Umum Saham Perdana | Pre Initial Public Offering

29 October 95

240,000,000

120,000,000,000

Penawaran Umum Saham Perdana | Initial Public Offering

30 October 95

350,000,000

175,000,000,000

Penawaran Umum Terbatas I | Limited Public Offering I (1:3)

6 October 97

1,400,000,000

700,000,000,000

Penawaran Umum Terbatas II | Limited Public Offering II (1:3)

12 December 05

5,600,000,000

1,120,000,000,000

Penawaran Umum Terbatas III | Limited Public Offering III (2:5)

1 May 07

19,600,000,000

2,520,000,000,000

Pelaksanaan Waran I | Warrant Issuance I

1 November 2007 – 30 April 2010

359,885,695

35,988,569,500

Penawaran Umum Terbatas IV | Limited Public Offering IV (1:1)

9 July 2010

39,919,771,390

4,551,997,139,000

Saham Ditempatkan & Disetor Penuh | Issued & Paid Up Shares

31 December 2010

39,919,771,390

4,551,997,139,000

Kinerja Saham | Stock Performance

(Rp)

400

300

200

100

0 Jan

Feb

2010

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Harga Saham | Stock Price (Rp)

Tertinggi | Highest Terendah | Lowest Penutupan | Closing

Dec

Perdagangan Saham | Stock Trading

Tertinggi Highest

Terendah Lowest

Penutupan Closing

Rp

January

270

193

260

1,928,978,717,000

7,955,660,500

February

265

210

220

472,252,815,000

1,987,927,000

March

285

210

240

1,381,127,605,000

5,494,222,000

April

265

225

235

863,901,940,000

3,498,809,000

May

240

105

141

1,030,254,976,000

5,793,219,500

June

154

132

144

461,271,910,000

3,214,718,000

July

147

131

133

247,084,926,500

1,780,191,000

August

135

95

112

521,888,133,000

4,618,748,500

September

168

112

154

952,569,674,000

6,351,288,000

October

196

152

158

2,540,041,531,500

14,498,490,500

November

172

154

160

1,375,246,431,000

8,486,091,500

December

167

155

157

510,244,794,000

3,160,535,000

Volume

Ikhtisar Saham & Obligasi Stocks & Bonds Highlights

Riwayat Dividen 2010 | 2010 Dividend History Dividen per Saham Dividend per Share

Jumlah Dividen Total Dividend

Dividend Yield Dividend Yield

Recording Date Recording Date

Tanggal Pembayaran Payment Date

Rp 1,-

Rp 19,959,885,695

15.1%

14 June 2010

28 June 2010

Jumlah Saham Diperdagangkan per Triwulan | Number of Stock Traded per Quarter

2010

Harga Saham | Stock Price (Rp) Tertinggi Highest

Terendah Lowest

Penutupan Closing

Volume

Triwulan I 1st Quarter

285

193

240

15,437,809,500

Triwulan II 2nd Quarter

265

105

144

Triwulan III 3rd Quarter

168

95

Triwulan IV 4th Quarter

196

152

2009

Harga Saham | Stock Price (Rp) Tertinggi Highest

Terendah Lowest

Penutupan Closing

Volume

Triwulan I 1st Quarter

88

54

85

12,906,864,500

12,506,746,500

Triwulan II 2nd Quarter

335

84

295

36,552,449,500

154

12,750,227,500

Triwulan III 3rd Quarter

390

280

370

13,544,941,500

157

26,145,117,000

Triwulan IV 4th Quarter

370

177

193

8,478,922,500

Kronologi Pencatatan Obligasi | Bonds Listing Chronology

Peringkat | Rating PEFINDO : idBBB+


Jumlah (Rp) Amount (Rp)

Bunga / Jangka Waktu Interest / Period

Penawaran Umum Obligasi I Seri A | Bonds I A Series Offering

12 March 2008

220,000,000,000

11.90% p.a./3 years

Penawaran Umum Obligasi I Seri B | Bonds I B Series Offering

12 March 2008

280,000,000,000

12.85% p.a./5 years

Kronologi Pencatatan Sukuk | Sukuk Listing Chronology

Peringkat | Rating PEFINDO : idBBB+(sy)



Cicilan Imbalan (Rp) Return Installment (Rp)

Jangka Waktu Period

Penawaran Umum Sukuk Ijarah I Seri A Sukuk Ijarah I A Series Offering

9 July 2009

60,000,000,000

154,800,000 per 1,000,000,000

2 tahun | years

Penawaran Umum Sukuk Ijarah I Seri B Sukuk Ijarah I B Series Offering

9 July 2009

90,000,000,000

160,000,000 per 1,000,000,000

3 tahun | years

Kronologi Penawaran Equity-Linked Bond | Equity-Linked Bond Offering Chronology

Penawaran Equity-Linked Bond Equity-Linked Bond Offering


Tanggal Penawaran Offering Date

Jumlah (USD) Amount (USD)

Bunga (Triwulan) Interest (Quarterly)

Jangka Waktu Period

23 March 2010

155,000,000

8.625%

5 tahun | years


Pembayaran Bunga Obligasi I Bakrieland Development Tahun 2008 hingga 31 Desember 2010 Interest Payment for Bakrieland Development’s 2008 Bond I up to 31 December 2010 No.

Keterangan Remarks



1

Pembayaran Bunga ke-1 | Interest Payment 1

11 June 2008

15,540,000,000

2


11 September 2008

15,540,000,000

3


11 December 2008

15,540,000,000

4


11 March 2009

15,540,000,000

5


11 June 2009

15,540,000,000

6


11 September 2009

15,540,000,000

7


11 December 2009

15,540,000,000

8


11 March 2010

15,540,000,000

9


11 June 2010

15,540,000,000

10


11 September 2010

15,540,000,000

11


11 December 2010

15,540,000,000

Pembayaran Cicilan Imbalan Sukuk Ijarah I Bakrieland Development Tahun 2009 hingga 31 Desember 2010 Payment of Return Installment for Bakrieland Development’s 2009 Sukuk Ijarah I up to 31 December 2010 Keterangan Remarks



Cicilan Imbalan ke-1 | Return Installment 1

7 October 2009

5,922,000,000


7 January 2010

5,922,000,000


7 April 2010

5,922,000,000


7 July 2010

5,922,000,000


7 October 2010

5,922,000,000

Pembayaran Bunga Equity-Linked Bond Tahun 2010 hingga 31 Desember 2010 Payment of Equity-Linked Bond Interest 2010 up to 31 December 2010 Keterangan Remarks


Jumlah (USD) Amount (US$)

Pembayaran Bunga ke-1 | 1st Interest

21 June 2010

3,342,187.50

Pembayaran Bunga ke-2 | 2nd Interest

20 September 2010

3,342,187.50

Pembayaran Bunga ke-3 | 3rd Interest

22 December 2010

3,342,187.50

Bakrie Tower, Rasuna Epicentrum

AKSI

KORPORASI Corporate Action

Equity-Linked Bond Bakrieland Development Pada tanggal 23 Maret 2010, Perusahaan melalui BLD Investment Pte. Ltd., anak perusahaan, menerbitkan Equity-Linked Bond sebesar USD 155.000.000 yang akan jatuh tempo pada tanggal 23 Maret 2015 dengan suku bunga 8,625% yang dibayar setiap tiga bulan. Hasil bersih penerbitan tersebut digunakan oleh Perusahaan untuk modal kerja, pembiayaan kembali, keperluan umum perusahaan dan untuk lindung nilai (hedging).

Bakrieland Development Equity-Linked Bond On 23 March 2010, through its subsidiary BLD Investment Pte. Ltd., the Company issued EquityLinked Bonds worth USD 155,000,000 which shall mature on 23 March 2015 with an 8.625% interest rate payable every three months. Net proceeds from this issuance were invested into working capital, refinancing, general corporate purposes and hedging.

Pembelian Kembali Saham Sebagai dampak dari krisis pada tahun 2008 yang mengakibatkan penurunan harga-harga saham secara signifikan, Bapepam-LK menerbitkan peraturan No. XI.B.3, Lampiran Keputusan Ketua Bapepam dan LK No. Kep-401/BL/2008 tanggal 9 Oktober 2008 tentang Pembelian Kembali Saham Emiten atau Perusahaan Publik Dalam Kondisi Pasar Yang Berpotensi Krisis, yang memperbolehkan pembelian kembali saham dengan batasan-batasan tertentu, tanpa melalui persetujuan Rapat Umum Pemegang Saham (RUPS). Peraturan ini terutama bertujuan mengurangi dampak penurunan harga-harga saham lebih jauh. Berdasarkan peraturan tersebut, pada tanggal 14 Oktober 2008 Perusahaan telah mengajukan permohonan pembelian kembali saham selama masa 3 bulan dan melakukan permohonan perpanjangan periode pada tanggal 14 Januari 2009, 14 April 2009, 14 Juli 2009 dan 14 Oktober 2009. Jumlah maksimal dana yang

Share Buy-Back As a consequence of the 2008 crisis which ultimately resulted in plummeting share prices, Bapepam-LK found it necessary to issue Regulation No. XI.B.3, Annex to the Decree of the Head of Bapepam and LK Head No. Kep-401/ BL/2008 on 9 October 2008 concerning Buy-Back of Shares Issued by an Issuer or a Public Company During Potential Market Crisis, which allowed for the repurchase of shares under specified limits without having to seek approval from the General Meeting of Shareholders. This regulation is primarily designed to alleviate the impact brought about by the downward spiral of share prices. Based on this regulation, the Company did on 14 October 2008 submit a request for share buyback within a span of 3 months and for a duration extension on14 January 2009, 14 April 2009, 14 July 2009 and 14 October 2009. The maximum amount of funds allocated for the share buy-back scheme reached Rp 510 billion and the amount of



dialokasikan dalam program pembelian kembali saham ini sebesar Rp 510 miliar dan jumlah saham yang dibeli kembali tidak melebihi 20% dari jumlah modal ditempatkan dan disetor penuh.

shares for repurchase did not exceed 20% of the total amount of subscribed capital and paid-up capital.

Hingga program pembelian kembali saham berakhir, Perusahaan telah membeli 120.750.000 lembar saham dengan harga pembelian rata-rata sebesar Rp 230,50 per lembar saham.

Up until the share buy-back period ended, the Company had purchased 120,750,000 shares with average purchase price of Rp 230.50 per share.

Penawaran Umum Terbatas IV Rapat Umum Pemegang Saham Luar Biasa (RUPSLB) Perusahaan pada tanggal 25 Juni 2010 telah memberikan persetujuan kepada Perusahaan untuk melakukan Penawaran Umum Terbatas (PUT) IV kepada Para Pemegang Saham melalui penerbitan Hak Memesan Efek Terlebih Dahulu (HMETD) dengan cara menerbitkan saham dari portepel/simpanan Perusahaan sebanyak 19.959.885.695 (sembilan belas miliar sembilan ratus lima puluh sembilan juta delapan ratus delapan puluh lima ribu enam ratus sembilan puluh lima) saham biasa Seri B dengan Nilai Nominal Rp 100 (seratus Rupiah) per saham dan dengan harga penawaran Rp 160 (seratus enam puluh Rupiah) per saham, yang dicatatkan di Bursa Efek Indonesia.

Limited Public Offering IV The Company’s Extraordinary General Meeting of Shareholders convened on 25 June 2010 and granted approval to the Company for undertaking Limited Public Offering IV aimed at Shareholders through pre-emptive rights by issuing shares held by the Company in portfolio/treasury for a total of 19,959,885,695 (nineteen billion nine hundred and fifty nine million eight hundred and eighty five thousand six hundred and ninety five) Series B shares with face value of Rp 100 (one hundred Rupiah) per share and with an offering price of Rp 160 (one hundred and sixty Rupiah) for each share, to be listed with the Indonesia Stock Exchange.

Dari hasil penjualan saham Seri B tersebut, maka Perusahaan memperoleh setoran modal sebesar Rp 3.193.581.711.200 (tiga triliun seratus sembilan puluh tiga miliar lima ratus delapan puluh satu juta tujuh ratus sebelas ribu dua ratus Rupiah).

From the sales of Series B shares, the Company gained paid-up capital worth Rp 3,193,581,711,200 (three trillion one hundred and ninety three billion five hundred and eighty one million seven hundred and eleven thousand two hundred Rupiah).

Bersamaan dengan PUT IV ini, Perusahaan juga menerbitkan 6.985.959.993 (enam miliar sembilan ratus delapan puluh lima juta sembilan ratus lima puluh sembilan ribu sembilan ratus sembilan puluh tiga) Waran Seri II. Pada setiap 20 saham baru hasil pelaksanaan HMETD melekat 7 Waran Seri II yang diberikan secara cuma-cuma sebagai insentif bagi pemegang saham Perusahaan dan/ atau pemegang HMETD yang melaksanakan haknya. Setiap pemegang 1 waran berhak membeli 1 saham Seri B dengan Nilai Nominal Rp 100 (seratus Rupiah) per saham dengan harga pelaksanaan Rp 165 (seratus enam puluh lima Rupiah) per saham.

In concurrence with Limited Public Offering IV, the Company has also issued 6,985,959,993 (six billion nine hundred and eighty five million nine hundred and fifty nine thousand nine hundred and ninety three) Series II Warrants. For every 20 new shares from the exercising of pre-emptive rights, 7 Series II Warrants are included as incentive for Company shareholders and/or pre-emptive rights holders who use this privilege. Every holder of a warrant is entitled to one Series B share for the face value of Rp 100 (one hundred Rupiah) per share and at the exercise price of Rp 165 (one hundred sixty five Rupiah) per share.

City Property • Salah satu pengembang properti berkelas dunia di Jakarta. • Proyek utama: Rasuna Epicentrum, suatu kawasan superblok modern terpadu di pusat kota. • Penyumbang utama pendapatan Bakrieland, sebesar 35,1% dari total pendapatan Perusahaan di tahun 2010.

LANDED RESIDENTIAL • One of the world-class property developers in Jakarta. • Main projects: Rasuna Epicentrum, an integrated state-of-the-art superblock located in the heart of the city. • Bakrieland’s principal revenue contributor of 35.1% to the Company’s total earnings in 2010.

• Mengembangkan kawasan pemukiman untuk segmen menengah dan menengah atas. • Lokasi: Bogor, Malang, dan Batam. • Proyek utama: Bogor Nirwana Residence. • Memberikan kontribusi sebesar 29,5% dari total pendapatan Bakrieland di tahun 2010.

• Develop eco-friendly integrated residential areas specifically for the middle and middle-upper class segments. • Location: Bogor, Malang, and Batam. • Main project: Bogor Nirwana Residence. • Contributed 29.5% of Bakrieland’s total revenue in 2010.

IKHTISAR BISNIS Business Highlights

Epicentrum Walk

Bakrie Nirwana Residence

HOTEL & RESORT • Mengembangkan dan mengelola hotel dan resor berkelas internasional. • Lokasi: Bali, Lampung, dan Balikpapan. • Memberikan kontribusi sebesar 29,2% dari total pendapatan Bakrieland di tahun 2010.


Pullman Bali Legian Nirwana

Kanci-Pejagang

PROPERTY-RELATED INFRASTRUCTURE • Develop and manage international caliber hotels and resorts. • Location: Bali, Lampung, and Balikpapan. • Contributed 29.2% of Bakrieland’s total earnings in 2010.

• Jalan tol Kanci-Pejagan mulai beroperasi pada tanggal 26 Januari 2010. Jalan tol sepanjang 35 km ini menghubungkan Cirebon, Jawa Barat dengan Brebes, Jawa Tengah, dan memiliki masa konsesi selama 35 tahun. • Memberikan kontribusi sebesar 6,2% dari total pendapatan Bakrieland di tahun 2010.

• Started Kanci-Pejagan toll road operations on 26 January 2010. The 35 km tollroad connects Cirebon, West Java and Brebes, Central Java, and has a 35-year concession period. • Contributed 6.2% of Bakrieland’s total earnings in 2010.


STRUKTUR PERUSAHAAN

Corporate Structure

PT Bakrieland Development Tbk Lini Usaha | Lines of Businesses

69.62%

PT Bakrie Pesona Rasuna

98.80%

PT Bumi Daya Makmur

69.99%

PT Rasuna Residence Development

98.80%

PT Superwish Perkasa *

69.99%

PT Provices Indonesia

99.75%

General Trading and Services, Property Management

PT Bakrie Pangripta Loka

99.99%

PT Rasuna Caturtama Corpora **

99.59%

Construction and Agriculture

PT Graha Andrasentra Propertindo

99.78%

PT Bahana Sukmasejahtera *

99.96%

PT Bakrie Swasakti Utama

PT Mutiara Permata Biru

99.77%

PT Dutaperkasa Unggullestari

65.00%

PT Samudra Asia Nasional

99.99%

PT Graha Intan Bali **

99.00%

PT Citra Saudara Abadi *

99.99%

PT Sanggraha Pelita Sentosa *

99.52%

PT Bakrie Nirwana Semesta

99.99%

PT Bali Nirwana Resort

52.55%

PT Nirwana Legian Hotel *

99.92%

PT Berkah Puhu Lestari *

99.99%

PT Libratindo Gemilang *

99.99%

PT Krakatau Lampung Tourism Development

90.00%

PT Bakrie Graha Nirwana *

99.80%

PT Villa Del Sol *

99.99%

PT Jasa Sarana

15.93%

PT Bakrie Infrastructure

99.99%

PT Alberta Utilities

75.04%

PT Bakrie Sentra Investama

99.98%

BLD Investment Pte. Ltd.

99.99%

PT Sentul City Tbk

50.00% 5.26%

PT Bakrie Graha Investama

99.98%

PT Bukit Jonggol Asri

37.88%

* Dalam pengembangan Under development ** Belum beroperasi Not in operations

99.99%

PT Transglobal Finance Limited

100%

PT Pan Galactic Investment Limited

100%

PT Satria Cita Perkasa

99.99%

PT Semesta Marga Raya

65.00%

BLD Asia Pte. Ltd. PT Fusion Plus Indonesia

Hotel and Tourism

5.00%

PT Aetra Air Jakarta PT Bakrie Toll Road

Construction/Developer, Real Estate, Apartment, Office, Infrastructure, and Trading

100%

PT Lido Sarana Prima

99.99%

PT Lido Golf Prima

50.00%

Hotel Elty Tenggarong

99.00%

Batam

Lampung

Jakarta

Bogor

Batam Nirwana Residence (Landed Residential) Proyek perumahan kelas menengah di Pulau Batam dengan luas area pengembangan 40 ha.

Travellers Krakatoa Nirwana Resort (Hotel & Resort) Kawasan resor dan rekreasi terpadu dengan total luas area 101 ha.

Rasuna Epicentrum (City Property I) 53,5 ha kawasan pengembangan di area CBD Kuningan, merupakan proyek superblok pertama, terbesar dan terlengkap di Jakarta yang terdiri dari Apartemen, Perkantoran, Komersial, Hotel dan Pusat Kebugaran.

Bogor Nirwana Residence (Landed Residential) 1.002 ha kawasan pengembangan untuk proyek perumahan menengah-menengah atas dipusat kota Bogor, Jawa Barat, yang dilengkapi area komersial dan wahana edutainment (The Jungle Waterpark) secara terintegrasi.

A middle-class residential project in Batam Island, covering 40 ha of development area.

An integrated resort and recreation destination with a total area of 101 ha.

A 53.5 ha development in Kuningan CBD, the first, the largest, and most complete superblock project in Jakarta, consisting of Apartments, Offices, Commercial Space, Hotel and Fitness Center. Sentra Timur Residence (City Property II) 3,2 ha kawasan proyek Rusunami dengan 11 menara yang berlokasi di kawasan Pulogebang, Jakarta Timur. A 3.2 ha subsidized apartment block with 11 towers, located at Pulogebang, East Jakarta. Kota Baru Perumnas (City Property II) 30 ha potensi area pengembangan Kawasan Kota Baru Perumnas di Jakarta Timur, dibangun dengan tujuan mengoptimalkan potensi Terminal Pulogebang dan Banjir Kanal Timur di kawasan tersebut. A 30 ha potential area development in Kota Baru Perumnas area in East Jakarta, aimed to optimize the utilization of Terminal Pulogebang and Banjir Kanal Timur in the area.


An 1,002 ha middle to middleupper residential project in central Bogor, West Java, completed with integrated commercial and edutainment area (The Jungle Waterpark). Lido Lake Resort (Landed Residential) Lebih dari 1.000 ha kawasan pengembangan yang terletak diantara pegunungan, danau serta hutan di daerah Lido, Sukabumi, Jawa Barat. Over 1,000 ha development area located among the mountains, lake and forests in Lido, Sukabumi, West Java.


AREA KERJA

Working Area Cirebon

Malang

Bali

Balikpapan

Bakrie Toll Road Proyek ruas jalan tol KanciPejagan sepanjang 35 km, yang menghubungkan Cirebon (Jawa Barat) dan Brebes (Jawa Tengah).

Ijen Nirwana Residence (Landed Residential) Proyek perumahan di kawasan prestisius di kota Malang dengan luas pengembangan 22,4 ha.

Pullman Bali Legian Nirwana (Hotel & Resort) Strata hotel bintang 5 pertama di pantai Kuta Bali dengan luas area 2,4 ha.

The project of the 35 km Kanci-Pejagan toll road section connecting Cirebon (West Java) and Brebes (Central Java).

A residential project at a prestigious area in Malang, with a development area of 22.4 ha.

Lagoon Nirwana Residence (Hotel & Resort) Sebelumnya bernama Balikpapan Nirwana Suites & Residences, yaitu Hotel dan serviced residence pertama di Balikpapan di area seluas 3,3 ha di pusat kota Balikpapan.

The first five-star strata hotel located at Kuta beach, Bali with an area of 2.4 ha. Pan Pacific Nirwana Bali Resort (Hotel & Resort) Kawasan resor terpadu pertama di Bali seluas lebih dari 100 ha, yang merupakan kombinasi hotel bintang 5 dan hunian eksklusif dilengkapi dengan lapangan golf 18-hole rancangan Greg Norman serta fasilitas rekreasi. Bali’s first fully integrated resort of over 100 ha, combining a five-star luxury hotel and exclusive residences complete with Greg Norman designed 18-hole golf course and recreation facilities.

Previously named Balikpapan Nirwana Suites & Residences, the first hotel and serviced residence in Balikpapan, built on 3.3 ha in the city of Balikpapan.

1984to 1997 June 1984

Kelompok Usaha Bakrie (KUB) melalui PT Catur Swasakti Utama (sekarang bernama PT Bakrie Swasakti Utama, anak perusahaan Bakrieland), mengawali bisnis pembangunan properti dengan membangun Wisma Bakrie, gedung Graha Kapital, dan Apartemen Taman Rasuna di Jakarta.

The Bakrie Group through PT Catur Swasakti Utama (now known as PT Bakrie Swasakti Utama, a subsidiary of Bakrieland), started the property development business by building Wisma Bakrie, Graha Kapital building, and Taman Rasuna Apartment in Jakarta.

June 1990

Perusahaan didirikan dengan nama PT Purilestari Indah Pratama pada Juni 1990, nama Perusahaan diganti menjadi PT Elang Realty pada Desember 1994, dan pada tahun 1997 menjadi PT Bakrieland Development Tbk.

Bakrieland was established as PT Purilestari Indah Pratama in June 1990, changing its name to PT Elang Realty in December 1994, and then to PT Bakrieland Development Tbk in 1997.

October 1995

Penawaran Umum Saham Perdana di Bursa Efek Indonesia (d/h Bursa Efek Jakarta) sejumlah 110.000.000 saham dengan nilai nominal Rp 500 per saham dan harga penawaran sebesar Rp 625 per saham, pada tanggal 30 Oktober 1995.

Initial Public Offering at the Indonesia Stock Exchange (previously Jakarta Stock Exchange) amounted 110,000,000 shares with nominal value of Rp 500 per share and offering price of Rp 625 per share, conducted on 30 October 1995.

1998to 2007 January 1998

PT Bakrie Capital Indonesia (BCI) mengakuisisi 57,84% kepemilikan saham PT Elang Sentrainvestama Abadi dan PT Elang Karuna Abadi.

PT Bakrie Capital Indonesia (BCI) acquired 57.84% of shares in PT Elang Sentrainvestama Abadi and PT Elang Karuna Abadi.

May 2004

Bakrieland mengakuisisi 73,48% kepemilikan saham PT Bakrie Swasakti Utama.

Bakrieland acquired 73.48% of shares in PT Bakrie Swasakti Utama.

November 2005

Penawaran Umum Terbatas II sejumlah 4.200.000.000 saham biasa.

The 2nd Limited Public Offering, amounted 4,200,000,000 ordinary shares. Avenue Luxembourg Sarl membeli 12% kepemilikan saham dalam PT Bakrieland Development Tbk.

Avenue Luxembourg Sarl acquired 12% of shares in PT Bakrieland Development Tbk.

April 2007

Penawaran Umum Terbatas III sejumlah 14.000.000.000 saham biasa.

The 3rd Limited Public Offering, amounted 14,000,000,000 ordinary shares.

September 1997

Penawaran Umum Terbatas I sejumlah 1.050.000.000 saham biasa.

The 1st Limited Public Offering, amounted 1,050,000,000 ordinary shares.

JEJAK LANGKAH Company Milestone



2008to 2009

2010 January 2010

Perusahaan meningkatkan kepemilikan menjadi 100% di PT Semesta Marga Raya melalui anak perusahaannya, PT Satria Cita Perkasa, Pan Galactic Investment Ltd., dan Transglobal Finance Ltd.

March 2008

The Company increased its ownership to 100% in PT Semesta Marga Raya through its subsidiaries, PT Satria Cita Perkasa, Pan Galactic Investment Ltd., and Transglobal Finance Ltd.

Issuance of Bakrieland Development Bonds I Year 2008 with fixed interest rate, worth Rp 500,000,000,000.

March 2010

Penerbitan Obligasi I Bakrieland Development Tahun 2008 dengan tingkat bunga tetap sebesar Rp 500.000.000.000.

April 2008

Persetujuan RUPSLB tanggal 9 April 2008 untuk restrukturisasi dan divestasi penyertaan di PT Bakrie Swasakti Utama, PT Bumi Daya Makmur dan PT Superwish Perkasa kepada Limitless (anak perusahaan Dubai World) dan pembelian saham PT Satria Cita Perkasa (pemegang saham PT Semesta Marga Raya/pemegang konsesi ruas tol KanciPejagan).

EGMS approval on 9 April 2008 for the restructuring and divestment of its investment in PT Bakrie Swasakti Utama, PT Bumi Daya Makmur and PT Superwish Perkasa to Limitless (a subsidiary of Dubai World), and to purchase shares in PT Satria Cita Perkasa (shareholder of PT Semesta Marga Raya/ holder of Kanci-Pejagan toll road concession).

July 2008

Melalui PT Bakrie Infrastructure, membeli 75,04% saham dalam PT Alberta Utilities sebagai pemegang 5% saham PT Aetra Air Jakarta (d/h PT Thames PAM Jaya), perusahaan penyedia air bersih di wilayah timur DKI Jakarta.

Through PT Bakrie Infrastructure, the Company purchased 75.04% shares in PT Alberta Utilities, which owns 5% shares of PT Aetra Air Jakarta (previously PT Thames PAM Jaya), a clean water provider company in eastern Jakarta.

July 2009

• Penerbitan Sukuk Ijarah I Bakrieland Development dengan Sisa Imbalan sebesar Rp 150.000.000.000.

Issuance of Sukuk Ijarah I Bakrieland Development with Installments totaling Rp 150,000,000,000. • Melalui PT Bakrie Nirwana Semesta, Bakrieland meningkatkan penyertaan modal pada PT Bali Nirwana Resort menjadi 52,55%.

Through PT Bakrie Nirwana Semesta, Bakrieland increased its capital investment in PT Bali Nirwana Resort to 52.55%.

October 2009

Melalui PT Bakrie Toll Road yang sahamnya 99,99% dimiliki oleh PT Bakrie Infrastructure (anak perusahaan), Bakrieland meningkatkan investasinya pada PT Semesta Marga Raya menjadi 64,98%.

Through PT Bakrie Toll Road, whose shares are 99.99% owned by PT Bakrie Infrastructure (subsidiary), Bakrieland increased investment in PT Semesta Marga Raya to 64.98%.

Melalui anak perusahaan BLD Investment Pte. Ltd., menerbitkan Equity-Linked Bond sebesar USD 155.000.000.

Through subsidiary company BLD Investment Pte. Ltd., issued Equity-Linked Bond worth USD 155,000,000.

June 2010

Penawaran Umum Terbatas IV sejumlah 19.959.885.695 saham biasa Seri B dengan nilai nominal Rp 100 per saham dan dengan harga penawaran Rp 160 per saham atau sebesar Rp 3.193.581.711.200, yang tercatat di Bursa Efek Indonesia.

Limited Public Offering IV amounted to 19,959,885,695 Series B shares for the nominal value of Rp 100 per share and for the offering price of Rp 160 per share or worth Rp 3,193,581,711,200 listed at the Indonesia Stock Exchange.

July 2010

Perusahaan membeli 50% saham milik Baroque Development Inc dalam PT Fusion Plus Indonesia.

The Company purchased 50% shares of Baroque Development Inc in PT Fusion Plus Indonesia.

August 2010

• Perusahaan membeli 5,26% saham milik PT Citra Kharisma Komunika dalam PT Sentul City Tbk.

The Company purchased 5.26% shares of PT Citra Kharisma Komunika in PT Sentul City Tbk.

• Perusahaan mengambil saham baru yang diterbitkan oleh PT Bukit Jonggol Asri sebanyak 666.666.667 saham atau 37,88%.

The Company acquired new shares issued by PT Bukit Jonggol Asri amounting 666.666.667 shares or 37.88%.

PERISTIWA PENTING

2010 Event Highlights

15 JUNE Bakrieland mendukung Global Enterprise Challenge 2010 Bakrieland supported the Global Enterprise Challenge 2010

13 JUNE Peresmian Taman Lansia Langsat Inauguration of the Langsat Park for the Elderly

10 JUNE Customer Appreciation Night - Pullman Bali Legian Nirwana Customer Appreciation Night - Pullman Bali Legian Nirwana

MAY 2010 26 JANUARY

Bakrie Tower beroperasi untuk umum

Peresmian Ruas Tol Kanci-Pejagan

Bakrie Tower operates for public

30 MAY

Inauguration of Kanci-Pejagan Toll Road

Bakrieland mendukung ASEAN Enterprise Challenge 2010 Bakrieland supported the ASEAN Enterprise Challenge 2010

24 FEBRUARY Perubahan Operator Pan Pacific Nirwana Bali Resort

24 - 28 MAY

Change of Operator in Pan Pacific Nirwana Bali Resort

Partisipasi Bakrieland pada The 61st FIABCI World Congress 2010 Bakrieland’s participation in The 61st FIABCI World Congress 2010

26 MARCH Soft Opening Epicentrum Walk Epicentrum Walk Soft Opening

12 APRIL Sertifikasi ISO 9001 : 2008 ISO 9001 : 2008 Certification

18 MAY RUPS Tahunan - Luar Biasa The Annual and Extraordinary GMS



23 JUNE

20 DECEMBER

Paparan Publik dan Pertemuan Analis

Acara Akhir Tahun bersama Media & Apresiasi Karya Media (Aryadia)

Public Expose and Analyst Meeting

25 JUNE

Year-End Media Gathering & Aryadia Media Appreciation

RUPS Luar Biasa - PUT

11 DECEMBER

The Extraordinary GMS – Limited Limited Public Offering

Pembukaan Aston Bogor Hotel & Resort

30 JUNE

Aston Bogor Hotel & Resort Opening

Dukungan Bakrieland terhadap pegolf muda berbakat: Almer Bakrieland’s Support for the young and talented golf player: Almer

1 JULY Serah Terima Unit Sentra Timur Residence

9 DECEMBER Menerima penghargaan Indonesia Most Trusted Companies 2010 dari IICG dan majalah SWA. Awarded as Indonesia Most Trusted Companies 2010 by IICG and SWA magazine.

Sentra Timur Residence Units Handover

11 NOVEMBER 5 AUGUST Pembukaan Epicentrum Walk Office Suites Epicentrum Walk Office Suites Opening

Investor Summit & Capital Market Expo: Paparan Publik Investor Summit & Capital Market Expo: Public Expose

28 OCTOBER 28 & 30 SEPTEMBER Kongres Pan Pacific ke-25 Tahun 2010 The 25th Pan Pacific Congress 2010

Peresmian proyek CSR One Village One Playground Inauguration of the One Village One Playground CSR project

CORPORATE GOVERNANCE & CORPORATE SOCIAL RESPONSIBILITY

• Best Indonesia Green CSR Awards 2010 (PT Bakrieland Development Tbk). Best Indonesia CSR Awards 2010 (PT Bakrieland Development Tbk). • Highly Commended Best Developer Tanggungjawab Sosial Perusahaan. Highly Commended Best Developer Corporate Social Responsibility. • Pengembang Terbaik Sangat Terpuji - Green Development (Built), Rasuna Epicentrum. Highly Commended Best Developer - Green Development (Built), Rasuna Epicentrum. • Peringkat ‘Terpercaya’ berdasarkan Indeks Persepsi Tata Kelola Perusahaan. Ranked as Trusted Company based on Corporate Governance Perception Index.

PENGHARGAAN & SERTIFIKASI Awards & Certifications CERTIFICATION • Sertifikasi ISO 9001: 2008 PT Bakrieland Development Tbk. ISO 9001:2008 Certification for PT Bakrieland Development Tbk.


• Sertifikasi OHSAS 18001: 2007. OHSAS 18001: 2007 certification. • Peringkat ke-2 Terbaik CFO Indonesia. Rank 2 Best Indonesia CFO.

• Setifikat Keanggotaan sebagai Anggota dari Kalangan Perusahaan dari Konsil Bangunan Hijau Indonesia. Certificate Memberships as Corporate Member of Green Building Council Indonesia.


Landed Residential • Property Dengan Konsep Eco Friendly Terbaik di Pusat Kota Malang (Ijen Nirwana Residence). Property with the Best EcoFriendly Concept in Malang.

• Perumahan Berpengaruh Dalam Pengembangan Kawasan (Bogor Nirwana Residence). The Most Influential Residence in Area Development.

• Top Brand Award 2010 untuk wahana air The Jungle. Top Brand Award 2010 for The Jungle Waterpark.

HOTEL & RESORT

CITY PROPERTY • Rasuna Epicentrum Sebagai Superblock Terluas di CBD Jakarta. Rasuna Epicentrum as the Largest Superblock at Jakarta CBD. • Superblok Pertama dan Terbesar di CBD Jakarta. The First and the Largest Superblock at Jakarta CBD.

• Best Indonesia Green Hotel Awards 2010 (Pan Pacific Nirwana Bali Resort). Best Indonesia Green Hotel Awards 2010 (Pan Pacific Nirwana Bali Resort).

CORPORATION • Developer of the Year untuk Pengembang Terpadu Berwawasan Lingkungan dari Property & Bank Award 2010. Developer of the Year for EcoFriendly Integrated Property Developer from Property & Bank Award 2010.

• Best Indonesia Green Real Estate Awards 2010 (Rasuna Epicentrum). Best Indonesia Green Real Estate Awards 2010. • Pengembang Terbaik Sangat Terpuji - Pengembangan Ramah Lingkungan. Highly Commended Best Developer - Green Development (Built). • Peringkat kedua kategori Office Building dalam Prix D’excellence Awards 2010. Runner up for Office Building category in Prix D’excellence Awards 2010.

LAPORAN PRESIDEN KOMISARIS

Report of the President Commissioner



peduli masyarakat care for the community

Bakrieland bukan saja berupaya menciptakan kesempatan dalam memecahkan masalah sosial, ekonomi, dan lingkungan yang berkaitan dengan bisnisnya, tetapi juga memberikan nilai tambah bagi pertumbuhan yang berkelanjutan dan mendukung terwujudnya tata kelola perusahaan yang baik.

Bakrieland not only sought to create opportunities in assuming an active role in resolving social, economic and environmental concerns associated with its business, but also offered added value for sustainable growth and supported the implementation of good corporate governance.

LAPORAN PRESIDEN KOMISARIS Report of the President Commissioner

Pemegang saham yang terhormat,

Dear distinguished shareholders,

Pada tahun 2010, perekonomian Indonesia mengalami tingkat pertumbuhan tercepat selama enam tahun terakhir, terutama didorong oleh kekuatan konsumsi domestik, investasi, dan ekspor. Di saat sebagian besar negara di dunia masih dalam proses pemulihan, perekonomian Indonesia tumbuh dengan laju sekitar 6%. The World Economic Forum melaporkan, peringkat daya saing Indonesia untuk tahun 2010-2011 naik 10 tingkat menjadi 44 dari sebelumnya di peringkat 54. Kenaikan tersebut terutama didorong oleh kinerja makro ekonomi yang sangat baik, yang antara lain ditandai dengan rendahnya tingkat suku bunga, inflasi terkendali, dan penguatan indeks pasar saham dan kurs Rupiah.

In 2010, Indonesia’s economy bore witness to the most rapid growth rate in the past six years, mainly driven by vigorous domestic consumption, investment and exports. In times when the majority of countries worldwide remain immersed in the recovery process, Indonesia’s economy posted a 6% spurt in growth. The World Economic Forum reported that Indonesia’s competitiveness for 2010-2011 ascended 10 notches higher to the 44th rank from its previous position at the 54th place. This elevated rank is primarily propelled by an impressive macro economic performance indicated by low interest rates, restrained inflation, stronger share market index and Rupiah exchange rate among other indicators.

Kinerja 2010 Bagi Bakrieland sebagai perusahaan pengembang properti terintegrasi, pertumbuhan ekonomi yang pesat memberikan peluang tumbuh berganda di sektor properti sekaligus infrastruktur. Sejalan dengan peningkatan daya beli masyarakat, kebutuhan perumahan dan infrastruktur pendukung pembangunan terus meningkat. Sepanjang tahun 2010 Bakrieland berhasil menyelesaikan target-target pembangunan

Performance in 2010 For Bakrieland as an integrated property developer, this accelerated economic growth afforded the company with amplified opportunities in both the property and infrastructure sectors. In line with stronger consumer purchasing power, the need for housing and infrastructure to support development was inevitably on the rise. Throughout 2010, Bakrieland managed to complete its property construction targets,

Kami akan terus mengupayakan agar kehadiran Bakrieland dapat terus memberikan manfaat yang berkelanjutan bagi masyarakat dan lingkungan. We shall make all efforts to ensure that Bakrieland’s presence continues to provide ongoing benefits for the community and the environment. properti, mengoperasikan ruas jalan tol KanciPejagan dan mengembangkan berbagai pembangunan jalan tol. Pada akhir tahun 2010, Bakrieland mencatat perolehan laba bersih senilai Rp 178,71 miliar, tumbuh 35,12% dari periode yang lalu.

commence operations of the Kanci-Pejagan toll road and engage in various toll road constructions. By the end of 2010, Bakrieland registered net income worth Rp 178.71 billion, a 35.12% growth from the previous year.

Kami bersyukur atas meningkatnya kinerja Bakrieland di tahun 2010 ini. Menurut pandangan kami, Direksi telah berhasil memelihara kerja sama di seluruh jajaran Perusahaan dan mengarahkan Perusahaan dengan strategi yang tepat untuk memajukan organisasi dan kegiatan operasional di semua bidang usahanya. Kami juga melihat upaya berkesinambungan yang dilakukan untuk meningkatkan kompetensi sumber daya manusia Perusahaan.

We are blessed with commendable improvements to Bakrieland’s performance in 2010. In our view, the Board of Directors succeeded in sustaining effective cooperation within the Company and in steering the Company through an accurate strategy aimed at thrusting the organization and operational activities forward in all business endeavors. We also take notice of continual efforts to enhance the Company’s human capital competencies.



Di sisi lain, kami bangga bahwa Bakrieland senantiasa berupaya meningkatkan kontribusinya dalam pengembangan masyarakat Indonesia, sesuai amanah pendiri kelompok usaha Bakrie. Bakrieland bukan saja berupaya menciptakan kesempatan untuk berperan dalam memecahkan masalah sosial, ekonomi, dan lingkungan yang berkaitan dengan bisnisnya, tetapi juga memberikan nilai tambah bagi pertumbuhan yang berkelanjutan dan mendukung terwujudnya tata kelola perusahaan yang baik. Oleh karenanya, dukungan yang berlanjut dari pemangku kepentingan sangat diharapkan untuk dapat memberikan yang terbaik bagi masyarakat Indonesia, tempat Perusahaan berdiri, berkembang, dan meraih keuntungan. Kami juga berterima kasih kepada masyarakat yang telah menerima dan mendukung kehadiran Bakrieland, serta akan terus mengupayakan agar kehadiran Bakrieland dapat terus memberikan manfaat yang berkelanjutan bagi masyarakat dan lingkungan.

We similarly take pride in Bakrieland’s constant efforts to heighten meaningful contributions for community development in Indonesia, in keeping with the aspirations of the founding fathers of Bakrie business group. Bakrieland not only sought to create opportunities in assuming an active role in resolving social, economic and environmental concerns associated with its business, but also offered added value for sustainable growth and supported the implementation of good corporate governance. As such, the constant support of stakeholders is hoped for in order to present the people of Indonesia with the best to offer, for this is where the Company stands, growing and bringing forth rewards. We also are indebted to the public for embracing and supporting Bakrieland, and we shall make all efforts to ensure that Bakrieland’s presence continues to provide ongoing benefits for the community and the environment.

Tata Kelola Perusahaan Dewan Komisaris mendukung penuh upaya untuk memastikan penerapan tata kelola perusahaan yang baik di seluruh aspek kegiatan usaha Bakrieland. Sejak akhir tahun 2009, selain

Corporate Governance The Board of Commissioners wholly supports efforts to ensure the effective application of good corporate governance in all aspects of Bakrieland’s business ventures. Since the end

Komite Audit, Nominasi dan Remunerasi, serta Pemantau Risiko, kami juga dibantu oleh Komite Kebijakan Corporate Governance. Adanya Komite Kebijakan Corporate Governance, meningkatkan dan menyempurnakan praktik GCG sehubungan dengan tugas dan fungsi pengawasan yang dijalankan oleh Dewan Komisaris. Hal ini antara lain terlihat dari keberhasilan Bakrieland mempertahankan peringkat “terpercaya” dalam pemeringkatan indeks persepsi tata kelola perusahaan selama dua tahun terakhir.

of 2009, in addition to the Audit, Nomination and Remuneration, and Risk Monitoring Committees, we are also assisted by the Corporate Governance Policy Committee. The Corporate Governance Policy Committee helps enhance and improve GCG practices pertaining to the oversight function and duties discharged by the Board of Commissioners. This is shown from the success of Bakrieland in maintaining recognition as a “trusted” company in the corporate governance perception index ratings for the last two years.

Pembagian Dividen Sesuai keputusan RUPST tanggal 18 Mei 2010, pada tanggal 28 Juni 2010 Bakrieland melakukan pembagian dividen tunai sebesar Rp 1 per saham

Dividend Payment In accordance with the Annual GMS resolution on 18 May 2010, Bakrieland engaged in the distribution of cash dividends at Rp 1 per share to

Membangun Kepedulian Building Mutual Concerns

Lukman Purnomosidi Komisaris Independen Independent Commissioner


Bambang Irawan Hendradi Presiden Komisaris President Commissioner

Edgardo Bautista Komisaris Commissioner

Supartono Komisaris Commissioner

Mark Robert Harris Komisaris Commissioner

Kanaka Puradiredja Komisaris Independen Independent Commissioner


kepada para pemegang saham yang namanya tercantum pada Daftar Pemegang Saham pada tanggal 14 Juni 2010.

shareholders whose names were registered under the Shareholder’s List on 14 June 2010.

Perubahan Komposisi Direksi Dewan Komisaris mengucapkan terima kasih kepada Ferdinand Sadeli yang telah memberikan kontribusi kepada Bakrieland selama menjabat sebagai CFO dan kemudian diangkat menjadi anggota Direksi Bakrieland sesuai RUPS Tahunan tanggal 18 Mei 2010. Dewan Komisaris menerima pengunduran diri beliau dari jajaran Direksi efektif tanggal 1 November 2010.

Changes to Board of Directors Composition The Board of Commissioners would like to extend a word of appreciation to Ferdinand Sadeli for his worthy contributions to Bakrieland during his tenure as CFO and later as Bakrieland’s BOD member pursuant to the Annual GMS on 18 May 2010. The Board of Commissioners accepted his decision to resign effective on 1 November 2010.

Prospek 2011 Menyongsong tahun 2011, kami merasa optimis bahwa pemulihan ekonomi global dan pertumbuhan ekonomi domestik yang terjadi hingga akhir tahun 2010 akan terus berlanjut dan mendukung perkembangan usaha Bakrieland dan Unit Usahanya, baik di bidang properti maupun infrastruktur terkait properti. Untuk mengantisipasi hal ini, sejak tahun 2010 Bakrieland telah melakukan persiapan internal dengan memperkuat organisasi dan meningkatkan kompetensi sumber daya manusia, serta melakukan dua aksi korporasi yang memperkuat struktur permodalan dan mendukung ekspansi Perusahaan. Beberapa langkah strategis lainnya juga telah dipersiapkan untuk memanfaatkan momentum pertumbuhan di tahun mendatang.

2011 Prospect As we usher in 2011, we are confident that the global economic recovery and domestic economic growth that took place by the end of 2010 will move onwards and boost the business development of Bakrieland and its Business Units, for both the property and property-related infrastructure sectors. In anticipation of this, since 2010 Bakrieland has initiated internal preparations by strengthening its organization and enhancing the competency of its human capital, and in launching two corporate actions for a more solid capital structure to support Company expansion. Several other strategic measures are in the pipeline to capitalize on an emerging growth momentum in the following year.

Apresiasi Dalam kesempatan ini, atas nama Dewan Komisaris, saya menyampaikan terima kasih atas dukungan dan kepercayaan yang diberikan oleh para pemegang saham dan pemangku kepentingan Bakrieland. Penghargaan yang tulus kami sampaikan kepada Direksi, manajemen dan seluruh karyawan yang telah bekerja dengan penuh kesungguhan dan dedikasi dalam mewujudkan visi dan misi Perusahaan, serta memberikan kontribusi yang berarti bagi pengembangan masyarakat.

Appreciation Taking this opportunity, on behalf of the Board of Commissioners, allow me to convey our sincere gratitude for the support and trust shown by Bakrieland shareholders and stakeholders. Our most heartfelt appreciation goes also to the Board of Directors, management and all employees who have shown true dedication and who worked tirelessly towards achieving the Company’s vision and mission, and provided far-reaching contributions for community development.

Untuk dan atas nama Dewan Komisaris PT Bakrieland Development Tbk

On behalf of the Board of Commissioners PT Bakrieland Development Tbk

Bambang Irawan Hendradi Presiden Komisaris President Commissioner

LAPORAN PRESIDEN DIREKTUR

Report of the President Director & CEO



tumbuh bersama Growing together

Kami berkomitmen untuk tumbuh bersama masyarakat. Setiap proyek yang dijalankan Bakrieland hendaknya dapat memberikan manfaat bagi masyarakat sekitar.

We are committed to growing together with the community. Each project which Bakrieland undertakes shall engender the desired benefit for surrounding communities.

LAPORAN PRESIDEN DIREKTUR Report of the President Director & CEO

Pemegang saham yang terhormat,

Dear honored shareholders,

Kami memasuki tahun 2010 dengan optimisme seiring dengan perkembangan ekonomi domestik yang positif dan berlanjutnya pemulihan ekonomi diberbagai negara yang terkena dampak krisis keuangan global. Jika tahun 2009 merupakan masa bagi Bakrieland untuk memperkokoh kemampuan guna menciptakan landasan bagi pertumbuhan yang berlanjutan di masa depan, maka tahun 2010 merupakan tahun penyerahan proyek (delivery year) sekaligus meningkatkan peran Bakrieland dalam pemberdayaan masyarakat.

We have now crossed the threshold into 2010 striding with optimism, in line with positive developments occurring in the domestic economy and the on-going economic recovery taking place in various countries affected by the global financial crisis. If 2009 represents a year when Bakrieland further demonstrated the capacity to lay the foundation for sustainable growth in the future, then 2010 serves as the delivery year where projects are duly completed and the time when Bakrieland heightened its role in community empowerment.

Empowering the Community. Committing to Our Future. Kepedulian Bakrieland terhadap masyarakat dan lingkungan diwujudkan melalui program CSR Terpadu ’Bakrieland Goes Green’ yang diluncurkan sejak tahun 2008. Filosofi Bapak H. Achmad Bakrie bahwa ”setiap rupiah yang dihasilkan bakrie, harus dapat bermanfaat untuk orang banyak” senantiasa menjadi tuntunan dalam menjalankan program CSR kami. Kami berkomitmen untuk tumbuh bersama masyarakat. Setiap proyek yang dijalankan Bakrieland hendaknya dapat memberikan manfaat bagi masyarakat sekitar.

Empowering the Community. Committing to Our Future. Bakrieland’s sense of concern over the community and the environment is manifested through the ‘Bakrieland Goes Green’ integrated corporate social responsibility (CSR) program launched in 2008. H. Achmad Bakrie’s life philosophy of “every rupiah earned by bakrie must come to benefit a large number of people” inspires every step taken in implementing our CSR programs. We are committed to growing together with the community. Each project which Bakrieland undertakes shall engender the desired benefit for surrounding communities.

Sepanjang tahun 2010 Bakrieland berhasil menyelesaikan dan mengoperasikan berbagai proyek strategis. Laba bersih mencapai Rp 178,71 miliar, meningkat 35,12% dari tahun sebelumnya. Throughout the rest of the year Bakrieland succeeded in completing and operating various strategic projects. Net income reached Rp 178,71 billion, a 35,12% rise from the previous year. Tahun 2010 merupakan titik tolak bagi Bakrieland untuk lebih meningkatkan kinerjanya dalam pengembangan masyarakat dan pelestarian lingkungan. Mulai tahun ini pelaksanaan pilar Green Architecture dan Green Operations berada dibawah divisi Project Development, sedangkan green attitude atau program CSR yang difokuskan pada bidang pendidikan, lingkungan, dan sosial, berada dibawah departemen CSR dari Corporate Affairs (CA) dengan tetap berkoordinasi dengan Unit Usaha. Kami percaya bahwa ini merupakan suatu langkah maju yang akan mengoptimalkan manfaat program CSR Terpadu bagi masyarakat luas dimasa depan.


The year 2010 is a propitious juncture for Bakrieland to enhance its performance to unprecedented heights in community development and environmental conservation. Beginning this year, the implementation of the Green Architecture and Green Operations pillars are under the Project Development division, while Green Attitude or CSR programs focused on education, the environment and society are overseen by the CSR department from Corporate Affairs (CA) while ensuring coordination with Business Units. We see this as a significant leap forward in optimizing integrated CSR program benefits for the society at large in the future.


Pelaksanaan program CSR Terpadu oleh Bakrieland dan Unit Usaha untuk tahun 2010 lebih difokuskan pada program pendidikan dan sosial keagamaan. Program yang baru diluncurkan tahun ini adalah Bakrieland Goes to Campus (BGtC), yang ditujukan untuk meningkatkan intelektualitas mahasiswa sebagai penggerak kemajuan bangsa.

The implementation of integrated CSR programs by Bakrieland and Business Units for 2010 focused more on education and social religious programs. Bakrieland Goes to Campus (BGtC), a program introduced this year is aimed at enhancing the academic ability of university students as the prime movers of the nation’s advancement.

Kinerja 2010 Diawali dengan peresmian jalan tol Kanci-Pejagan pada tanggal 26 Januari 2010, sepanjang tahun 2010 Bakrieland berhasil menyelesaikan dan mengoperasikan berbagai proyek strategis lain seperti Bakrie Tower, Lifestyle Center, Sentra Timur Residence Tahap I dan Aston Bogor Hotel & Resort.

Performance in 2010 Starting off with the launching of the Kanci-Pejagan toll road on 26 January 2010, throughout the rest of the year Bakrieland succeeded in completing and operating various other strategic projects such as Bakrie Tower, Lifestyle Center, Stage I of Sentra Timur Residence and Aston Bogor Hotel & Resort.

Sebagaimana tahun-tahun sebelumnya, City Property tetap menjadi pilar pertumbuhan utama Bakrieland. Tahun 2010, City Property memberikan kontribusi pendapatan sebesar Rp 480,67 miliar atau 35,15% dari total pendapatan Bakrieland. Selama tahun ini, selain meng operasikan Bakrie Tower dan Lifestyle Center, City Property juga berhasil menyelesaikan pembangunan Sentra Timur Residence Tahap I.

Similar to previous years, City Property remains the mainstay of growth for Bakrieland. In 2010, City Property’s income contribution amounted to Rp 480.67 billion or 35.15% of total Bakrieland earnings. During this year, in addition to the operation of Bakrie Tower and Lifestyle Center, City Property also managed to complete the first stage of construction for Sentra Timur Residence, lower end apartments.

Landed Residential memberikan kontribusi pendapatan sebesar Rp 403,90 miliar atau 29,53% dari total pendapatan Bakrieland. Proyek Bogor Nirwana Residence (BNR), yang merupakan sumber utama pendapatan Landed Residential, saat ini telah memiliki 16 (enam belas) klaster yang dilengkapi dengan fasilitas rekreasi The Jungle Waterpark dan pusat perbelanjaan. Kawasan ini terus berkembang dengan beroperasinya Aston Bogor Hotel & Resort mulai Desember 2010.

Landed Residential contributed Rp 403.90 billion in earnings or 29.53% of Bakrieland’s total income. The Bogor Nirwana Residence (BNR) project as the main source of income for Landed Residential currently consists of 16 (sixteen) clusters that come complete with the Jungle Waterpark recreational facility and shopping center. This area has undergone continual development with the operation of Aston Bogor Hotel & Resort beginning in December 2010.

Selama tahun 2010, Hotel & Resort fokus pada penyelesaian pembangunan Pullman Bali Legian Nirwana. Selain itu Hotel & Resort juga melakukan berbagai upaya perbaikan di hotel-hotel lainnya, serta merealisasikan kerja sama pengembangan hotel dengan pihak Pemda Tenggarong.

All through 2010, Hotel & Resort placed priority on completing the construction of Pullman Bali Legian Nirwana. In addition, Hotel & Resort also found it necessary to upgrade other hotels, and put into effect cooperation with the Tenggarong local government in hotel development. Income

Menjalin Kemitraan Building Partnerships

Sri Hascaryo Direktur Director


Hiramsyah Sambudhy Thaib Presiden Direktur & CEO President Director & CEO

Hamid Mundzir Direktur Director

Marudi Surachman Direktur Director


Pendapatan yang berhasil dihimpun dari Hotel & Resort di tahun 2010 mencapai Rp 398,84 miliar atau 29,16% dari total pendapatan Bakrieland.

generated from Hotel & Resort in 2010 amounted to Rp 398.84 billion, representing 29.16% of Bakrieland’s total revenue.

Bakrieland semakin memantapkan keberadaannya dalam pembangunan infrastruktur terkait properti. Menyusul keberhasilan dalam membangun dan mengoperasikan ruas jalan tol Kanci-Pejagan, pada tahun 2010 mulai dilakukan langkah-langkah persiapan untuk pembangunan ruas jalan tol Pejagan-Pemalang dan Ciawi-Sukabumi. Selain itu, bisnis pengelolaan air juga mencatat kemajuan dengan meningkatnya volume pasokan air selama tahun 2010. Pendapatan dari tol mencapai Rp 84,14 miliar atau 6,15% dari total pendapatan Bakrieland.

Bakrieland further cemented its presence in the development of property-related infrastructure. Following the success in developing and operating the Kanci-Pejagan toll road section, in 2010 preparatory measures were introduced for the construction of the Pejagan-Pemalang and Ciawi-Sukabumi segments. In addition, its water management business also demonstrated encouraging progress in line with an ascending trend in water supply volume for 2010. Revenue from toll reached Rp 84.14 billion or 6.15% of Bakrieland’s total revenue.

Secara keseluruhan, Bakrieland menutup tahun 2010 dengan meraih laba bersih sebesar Rp 178,71 miliar, meningkat 35,12% dari Rp 132,26 miliar tahun sebelumnya. Pencapaian ini terutama didukung oleh kenaikan pendapatan dari penjualan condotel, rumah dan apartemen.

Bakrieland, overall, brought the year 2010 to a close by generating net income worth Rp 178.71 billion, a 35.12% rise from the Rp 132.26 billion in the previous year. This impressive achievement is mainly supported by increased revenue from sales of condotel, houses and apartments.

Pengembangan Human Capital Pada tahun 2010, kegiatan pengembangan human capital difokuskan pada restrukturisasi organisasi induk perusahaan dan unit-unit usaha untuk tingkat manajemen puncak, yang diikuti oleh proses seleksi dan penempatan personil untuk tingkat manajemen puncak serta pengembangan kompetensi. Sejalan dengan hal ini, pada bulan Juli 2010 Bakrieland mengangkat Direktur Non-Akta dengan jabatan sebagai Group Human Capital Director.

Human Capital Development In 2010, human capital development was centered at the organizational restructuring of the parent company and business units at the upper management level, followed by a personnel selection and placement process for top management as well as the development of competencies. In line with this, in July 2010 Bakrieland appointed a Director who is not in the Company’s Notarial D eed with the position as Group Human Capital Director.

Pelatihan di Bakrieland dan Unit Usaha selama tahun 2010 diarahkan pada personnel effectiveness, dengan total pengeluaran mencapai Rp 1,27 miliar. Selain itu, pengembangan Human Resource Information System (HRIS) pada tingkat perusahaan induk dan Unit Usaha terus dilanjutkan, termasuk dalam menyusun dan memonitor Key Performance Indicators (KPI).

Training programs in Bakrieland and Business Units in 2010 were geared at ensuring personnel effectiveness, with a total expenditure of Rp 1.27 billion. Furthermore, the Human Resource Information System (HRIS) IT system development at the parent company and Business Unit levels was consistently operating, including for computing and monitoring Key Performance Indicators (KPI).

Tata Kelola Perusahaan Bakrieland terus melakukan penyempurnaan atas penerapan Tata Kelola Perusahaan pada setiap aspek bisnis di seluruh jajaran perusahaan. Guna memperoleh penilaian yang obyektif, evaluasi atas efektivitas penerapan GCG di Bakrieland selama 4 (empat) tahun terakhir telah dilaksanakan oleh pihak independen. Evaluasi dan rekomendasi yang diberikan menjadi masukan penting bagi Dewan Komisaris dan Direksi untuk mengambil langkahlangkah perbaikan dalam proses penyempurnaan pelaksanaan GCG.

Corporate Governance Bakrieland has assiduously refined its application of Corporate Governance in every business aspect and as managed by all company ranks. In order to ensure impartial assessment, an evaluation of Bakrieland’s effectiveness in applying GCG in the last 4 (four) years was performed by an independent party. The evaluation and recommendations received has served as valuable input for the Board of Commissioners and Board of Directors in initiating improvement measures for better GCG implementation.

LAPORAN PRESIDEN DIREKTUR Report of the President Director & CEO

Pada tahun 2010, Bakrieland berhasil mempertahankan peringkat “terpercaya” dalam pemeringkatan indeks persepsi tata kelola perusahaan selama dua tahun berturut-turut.

In 2010, Bakrieland managed to maintain recognition as a “trusted” company in the corporate governance perception index ratings for two consecutive years.

Aksi Korporasi Sepanjang tahun 2010, Bakrieland melakukan 3 (tiga) kegiatan aksi korporasi. Aksi korporasi pertama yaitu penerbitan equity-linked bonds sebesar USD 155.000.000 pada tanggal 23 Maret 2010, yang digunakan oleh Perusahaan untuk modal kerja, pembiayaan kembali, keperluan umum Perusahaan dan lindung nilai. Aksi korporasi kedua adalah rights issue atau Penawaran Umum Terbatas (PUT) IV senilai lebih dari Rp 3 triliun, yang digunakan untuk membiayai akuisisi tanah di CBD Jakarta dan kota Bogor, ekspansi ke daerah yang tinggi pertumbuhannya, serta pengembangan proyek superblok dan infrastruktur terkait properti. Melalui PUT IV ini, Bakrieland akan menjadi perusahaan properti dengan land bank terluas se-Jabodetabek, seluas 14.326 hektar. Aksi korporasi ketiga adalah pembelian saham kembali sebanyak 120.750.000 lembar saham dengan harga pembelian rata-rata sebesar Rp 230,50 per lembar saham.

Corporate Actions Throughout 2010, Bakrieland launched 3 (three) major corporate actions. The first corporate action relates to the issue of equity-linked bonds worth USD 155,000,000 on 23 March 2010, which the Company earmarked for working capital, refinancing, corporate general purposes and hedging. The second corporate action involves rights issue in the amount of more than Rp 3 trillion channeled for the financing of land acquisition in CBD Jakarta and Bogor, expansion into high-growth areas, and the development of a superblock project and propertyrelated infrastructure. Through this rights issue, Bakrieland established itself as a property company with the largest land bank in the Jabodetabek area, covering 14,326 hectares. The third corporate action refers to the buyback of 120,750,000 shares at the average buying price of Rp 230.50 per share.

Pembagian Dividen RUPS Tahunan tanggal 18 Mei 2010 menyetujui penetapan penggunaan 10% (sepuluh persen) dari laba bersih Perusahaan tahun 2009 untuk dana cadangan dan lebih kurang 15,1% untuk pembagian dividen, serta sisanya untuk pengembangan usaha dan modal kerja Perusahaan. Pembagian dividen dilaksanakan pada bulan Juni 2010, dengan total dividen tunai yang dibagikan sebesar Rp 19.959.885.695.

Dividend Payment The Annual General Meeting of Shareholders on 18 May 2010 agreed to set aside 10% (ten percent) of Company net income in 2009 for reserve funds and roughly 15.1% for dividend payment, while the rest was assigned for business development and the Company’s working capital. The dividend payment was distributed in June 2010 for total cash dividend amounting to Rp 19,959,885,695.

Penghargaan & Sertifikasi Sepanjang tahun 2010 Bakrieland kembali meraih berbagai penghargaan melalui berbagai proyek pengembangan propertinya, antara lain Rasuna Epicentrum Sebagai Superblok Terluas di CBD Jakarta, Bakrieland sebagai The Developer Of The Year, Bogor Nirwana Residence sebagai Perumahan Berpengaruh Dalam Pengembangan Kawasan. Bakrieland juga memperoleh penghargaanpenghargaan lain di bidang CSR dan pembangunan yang ramah lingkungan, serta berhasil meraih sertifikasi ISO 9001: 2008.

Awards & Certifications In 2010, Bakrieland yet again garnered a succession of awards for its property development projects, including Rasuna Epicentrum as the Largest Superblock in CBD Jakarta; Bakrieland as Developer of the Year; Bogor Nirwana Residence as the Residential Complex with Influence on Area Development. Bakrieland was also honored with other awards of appreciation with regard to CSR and eco-friendly construction, and succeeded in securing the ISO 9000: 2008 certification.

Prospek Industri properti Indonesia akan tumbuh lebih pesat di tahun 2011 sejalan dengan semakin membaiknya perekonomian Indonesia dan diterapkannya berbagai regulasi properti yang menguntungkan

Prospects Indonesia’s property industry is projected to demonstrate accelerated growth in 2011 in parallel with the recovery of Indonesia’s economy and the enforcement of various property regulations that



baik bagi konsumen, investor, maupun pengembang. Pertumbuhan industri properti juga didukung oleh likuiditas perbankan dalam penyediaan KPR yang semakin tinggi dan stabilitas sukubunga kredit perbankan. Investor asingpun akan berlomba menjadikan Indonesia tujuan investasi, khususnya di bidang properti karena selain faktor kondisi perekonomian dan politik nasional yang stabil, harga properti di Indonesia dinilai masih lebih murah dibandingkan dengan negara lain dan menjanjikan imbal hasil yang tinggi.

augur well for customers, investors and developers. This rapid growth in the property industry is also bolstered by higher bank liquidity in the provision of mortgage loans coupled with the stability of banks’ interest rates. As a consequence, foreign investors will hasten to target Indonesia as an investment destination, notably in the property business not only due to a stable economic and political situation but also as property prices in Indonesia are considered far less costly compared to other countries as well as the promise of high yields.

Bakrieland yakin dapat menggunakan momentum pertumbuhan tersebut untuk mengembangkan usaha baik melalui pertumbuhan organik, anorganik dan eksponensial. Berbagai aksi korporasi telah direncanakan di 2011, diantaranya rencana penerbitan obligasi yang akan digunakan sebagai sumber pendanaan proyek. Bakrieland juga akan mendukung rencana Unit Usaha PT Bakrie Toll Road untuk melaksanakan penawaran saham perdana ke publik. Pembangunan infrastruktur jalan tol akan semakin menegaskan eksistensi Bakrieland sebagai satu-satunya pengembang kawasan dan infrastuktur terpadu.

Bakrieland is convinced that it can seize this opportune moment to expand its business through organic, inorganic and exponential growth. A series of corporate actions are planned for 2011, among others for the issue of bonds to be utilized as a source for project funding. Bakrieland will also show support for plans developed by Business Unit PT Bakrie Toll Road in launching its initial public offering. The development of toll road infrastructure shall further reinforce Bakrieland’s presence as the only integrated area and infrastructure developer.

Perubahan Komposisi Direksi Direksi mengucapkan terimakasih kepada Ferdinand Sadeli yang telah memberikan kontribusi kepada Bakrieland selama menjabat sebagai CFO dan kemudian diangkat menjadi anggota Direksi Bakrieland sesuai RUPS Tahunan tanggal 18 Mei 2010. Direksi menerima pengunduran diri beliau dari jajaran Direksi efektif tanggal 1 November 2010.

Changes to BOD Composition The Board of Directors would like to extend a word of appreciation to Ferdinand Sadeli for his worthy contributions to Bakrieland during his tenure as CFO and later as Bakrieland’s BOD member pursuant to the Annual GMS on 18 May 2010. The Board of Directors accepted his decision to resign effective on 1 November 2010.

Apresiasi Sebagai penutup, mewakili Direksi, saya mengucapkan terima kasih kepada seluruh pemegang saham, Dewan Komisaris, pelanggan dan mitra usaha atas dukungan dan kerjasamanya. Demikian pula kepada seluruh karyawan yang telah bekerja dengan penuh dedikasi. Semua dukungan yang tanpa henti ini memberikan kekuatan bagi kami untuk mampu mewujudkan target dan rencana Bakrieland di masa mendatang, serta terus meningkatkan manfaat keberadaannya bagi masyarakat.

Appreciation To conclude, on behalf of the Board of Directors, allow me to express gratitude to all shareholders, the Board of Commissioners, customers and business partners for their invaluable support and cooperation. A similar gesture of appreciation is also addressed to all employees who have worked with unreserved dedication. This enduring show of support gives us the strength to make real Bakrieland’s goals and plans for the future, and continue to deliver greater benefit for the people.

Untuk dan atas nama Direksi PT Bakrieland Development Tbk

On behalf of the Board of Directors PT Bakrieland Development Tbk

Hiramsyah Sambudhy Thaib Presiden Direktur & CEO President Director & CEO

Review on the 2010 Strategy

Pembahasan Strategi 2010

Bakrieland tetap berorientasi pada pembangunan yang ramah lingkungan, mengoptimalkan berbagai sumber pendanaan, serta mempertajam fokus pemasaran dan komunikasi.

Perkembangan ekonomi nasional di akhir tahun 2009 menunjukkan tren membaik sehingga menumbuhkan optimisme bagi para pelaku usaha untuk memulai tahun 2010. Dalam mengantisipasi berbagai peluang yang akan muncul sehubungan dengan ekspansi ekonomi Indonesia, Bakrieland melakukan percepatan pengembangan proyek yang di tahun sebelumnya terkena dampak krisis keuangan global, serta merencanakan alternatif pendanaan untuk ekspansi Perusahaan.

Bakrieland kept its orientation on ecofriendly development, sought various funding sources, and sharpened its marketing and communication focus.


The national economic development at end of 2009 showed an improving trend that nurtured high optimism for business actors at the start of 2010. In anticipation of the opportunities arising from Indonesia’s economic expansion, Bakrieland accelerated its project developments, which in the previous year had been affected by the global financial crisis, and planned funding alternatives for Company expansion.


Strategi Pembangunan Bakrieland tetap berorientasi pada pembangunan yang ramah lingkungan di dalam mengembangkan kawasan propertinya. Pembangunan difokuskan untuk menyelesaikan unit rumah, kondominium dan hotel. Untuk meningkatkan daya saing properti yang dimilikinya, Bakrieland melengkapi kawasan perumahan dengan membangun lebih banyak akses, fasilitas transportasi umum, dan fasilitas publik lainnya. Selain itu, Bakrieland melakukan kerja sama dengan mitra strategis untuk mengembangkan berbagai fasilitas kegiatan masyarakat yang mendukung program pemerintah. Di bidang infrastruktur, persiapan pembangunan ruas jalan tol berikutnya dimulai dengan pembebasan tanah.

Development Strategy Bakrieland kept its orientation on eco-friendly development in expanding its property areas. Development was focused on completing houses, condominiums and hotels. To improve the competitiveness of its properties, Bakrieland enhanced its residential area by building more access, public transportation facilities, and other public facilities. In addition, Bakrieland cooperated with strategic partners to develop various facilities for community activities to support government programs. In the field of infrastructure, preparation for the next toll road development began with land acquisition.

Strategi Keuangan Bakrieland mengupayakan sumber-sumber pendanaan baik dari bank, pasar modal, maupun kerja sama dengan mitra strategis untuk membiayai proyek-proyeknya. Selain sumber dana eksternal, selama setahun terakhir Bakrieland telah merintis pengembangan bisnis infrastruktur yang bersinergi dengan bisnis properti sebagai sumber pendapatan berkelanjutan di masa depan.

Financial Strategy Bakrieland sought funding sources from banks, capital markets, and cooperation with strategic partners to finance its projects. In addition to external funding sources, over the last year Bakrieland had initiated the development of infrastructure businesses in synergy with the property businesses, which will serve as a source of recurring income in the future.

Strategi Pemasaran Semakin ketatnya persaingan menuntut Perusahaan untuk melakukan penajaman fokus strategi pemasaran yang efektif mencapai sasaran. Strategi pemasaran tahun 2010 tetap mengedepankan strategi pemasaran yang terintegrasi, yaitu dengan menggabungkan unsur branding, promosi (iklan dan kegiatan), hubungan masyarakat, marketing intelligence, dan hubungan pelanggan dalam satu benang merah yang saling mendukung dan bersinergi.

Marketing Strategy The increasing competition forced the Company to sharpen the focus of its marketing strategy to effectively reach target. The marketing strategy for 2010 still promoted an integrated marketing strategy that combines elements of branding, promotion (advertising and events), public relations, marketing intelligence, and customer relations within a common thread of mutual support and synergy.

Upaya pencitraan Bakrieland mencakup strategi positioning, brand hierarchy and identity, serta strategi komunikasi perusahaan, merupakan payung dari tujuan pemasaran dan menjadi landasan dari seluruh aktivitas pemasaran. Dengan payung tersebut, penerapan promosi, hubungan masyarakat dan klien serta marketing intelligence

Bakrieland’s brand image efforts include a positioning strategy, brand hierarchy and identity, as well as corporate communications strategy, under an umbrella of marketing goals, which serve as the foundation for all marketing activities. Within the umbrella program, the application of promotion, public relations and marketing intelligence and

Pembahasan Strategi 2010 Review on the 2010 Strategy

di setiap unit usaha disesuaikan dengan target pasar dan karakteristik dari produk-produk di unit usaha itu sendiri. Penerapan strategi pemasaran yang terintegrasi ini menghasilkan programprogram pemasaran yang berkelanjutan, nama perusahaan yang lebih dikenal dan terpercaya, serta pengolahan hubungan pelanggan yang lebih baik dan handal.

clients in every business unit are adapted to the target market and the characteristics of the products in the business unit itself. Application of this integrated marketing strategy produces sustainable marketing programs making the Company name better known and trusted, and creating better and more reliable customer relations.

Strategi Pengembangan SDM Divisi SDM selalu menyelaraskan program pengembangan dan pelatihan human capital dengan target-target pencapaian Perusahaan. Tahun 2010, kegiatan pengembangan SDM difokuskan pada restrukturisasi organisasi Induk Perusahaan dan Unit Usaha untuk tingkat manajemen puncak, yang diikuti oleh proses seleksi serta pengembangan kompetensi dan fungsional yang mencakup efektivitas perorangan dan pelatihan teknis.

HR Development Strategy The HRD Division continuously aligned its training and human capital development program with the Company’s targets achievement. In 2010, human resource development activities were focused on organizational restructuring of Holding Company and Business Unit for top management levels, followed by selection, as well as competency and functional development that included personal effectiveness and technical training.

Strategi Komunikasi Dilatarbelakangi oleh meningkatnya kebutuhan akan sistem pengolahan informasi dan komunikasi yang terpadu guna menunjang citra perusahaan, Bakrieland memandang perlu untuk membentuk Direktorat Corporate Affairs (CA). Direktorat ini membawahi tiga bidang kegiatan yaitu Komunikasi Internal, Komunikasi Eksternal, dan Corporate Social Responsibility (CSR). Fokus program CA tahun 2010 adalah mengangkat citra Bakrieland dan unit-unit usaha sebagai “perusahaan terpercaya” melalui kinerja dan penyelesaian proyek-proyeknya.

Communications Strategy Prompted by a growing need for an integrated information and communication processing system to bolster company image, in early 2010 Bakrieland established the Directorate for Corporate Affairs (CA). This directorate oversees three key areas, namely Internal Communication, External Communication and Corporate Social Responsibility (CSR). The CA program focus for 2010 was designed to boost the image of Bakrieland and its business units as a “trustworthy company” through superior performance and timely completion of projects.

Selain itu, Bakrieland tetap memenuhi tanggung jawabnya sebagai perusahaan publik melalui penyampaian informasi material mengenai Perusahaan kepada para pemangku kepentingan terkait, serta secara aktif melakukan korespondensi dengan regulator pasar modal (Bapepam-LK dan BEI) maupun lembaga penunjang pasar modal lainnya. Penyampaian informasi terbaru mengenai perkembangan kemajuan proyek dan aktivitas penjualan disampaikan melalui pertemuan dengan para investor maupun analis yang dilakukan secara rutin dan intensif.

In addition, Bakrieland still fulfilled its responsibilities as a public company through the delivery of material information about the Company to relevant stakeholders and actively conducted correspondence with the capital market regulators (Bapepam-LK and IDX) and other capital market supporting institutions. Submission of updated information on the progress of development projects and sales activities are conveyed in meetings with investors and analysts, which are conducted regularly and intensively.



Penerapan GCG dan Manajemen Risiko Bakrieland berkomitmen untuk senantiasa menegakkan dan menyempurnakan penerapan GCG di seluruh jajaran perusahaan. Untuk mendukung hal ini, sosialisasi kepada karyawan terus dilanjutkan dan evaluasi atas efektivitas penerapan di dalam Perusahaan akan dilakukan kembali dengan menggunakan jasa penilai independen sebagaimana tahuntahun sebelumnya. Seiring dengan semakin kompleksnya kegiatan bisnis Perusahaan, fungsi manajemen risiko dan kepatuhan ditingkatkan untuk mengatasi potensi risiko yang meningkat dan memastikan kepatuhan terhadap peraturan dan ketentuan yang berlaku.

GCG and Risk Management Implementation Bakrieland is committed to always upholding and improving GCG implementation at an overall company level. To support this, socialization to employees continued to proceed and evaluation on the effectiveness of implementation within the Company will be performed again by using an independent appraisal service as had been carried out in previous years. Along with the increasing complexity of the Company’s business activities, risk management and compliance functions were improved to cope with the increasing potential risks and ensure compliance with applicable rules and regulations.

Program Pembangunan Perumahan Masyarakat Kerja sama dengan Perumnas dalam proyek pembangunan Kota Baru Sentra Timur Residence masih akan terus dilanjutkan hingga beberapa tahun ke depan. Tahun 2010, Bakrieland menargetkan untuk menyelesaikan konstruksi Tahap 1A berikut fasilitas dan infrastruktur, yang dilanjutkan dengan proses serah terima kepada pemilik. Kompetisi yang ketat, biaya investasi tinggi, risiko pasar dan bisnis, serta perijinan merupakan beberapa hal yang harus diantisipasi pada tahun ini. Dengan pengalamannya membangun dan memasarkan Tahap 1A, diharapkan pembangunan tahap berikutnya dapat berlangsung lebih lancar.

Community Housing Development Program Cooperation with the Perumnas in the Kota Baru Sentra Timur Residence development project is still ongoing and will be for the next few years. In 2010, Bakrieland completed the construction of Phase 1A including facilities and infrastructure, which was followed by hand over process to the owners. Intense competition, high investment cost, market and business risks, and licensing issues were among the challenges that were experienced this year. With its experience in building and marketing of Phase 1A, the next phase of development is expected to take place more efficiently.

EVERY RUPIAH EARNED BY BAKRIE MUST COME TO BENEFIT A LARGE NUMBER OF PEOPLE

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