MNC Sky Vision Initial Public Offering

MNC Sky Vision Initial Public Offering Phillip Securities Indonesia Research June 20, 2012

Phillip Securities Indonesia

NC Sky Vision is a pay TV provider in Indonesia, part of MNC media group. The company became the pioneer in digital TV broadcasting in the country in 1998 through its Indostar I Satellite with Indovision brand. MNC Sky Vision launched its second brand TopTV in 2007, targeting middle to lower income market. One of the advantages the company has as a pay TV provider is the use of Indostar II which has S-Band frequency that can resist bad wheather and covers most areas in the archipelago Indonesia. In 2009 MNC Sky Vision launched Indostar II Satellite with double canal capacity which has the ability to distribute more than 160 channels. Currently, the company has over 1.2 million subscribers, making it the market leader in Indonesia pay TV industry, with approximately 70% market share in 2011. MNC Sky Vision currently has over 8,000 employees at more than 80 braches in Indonesia. Beside providing pay TV products to individual subscribers (Direct to Home / DTH), the company also caters for commercial subscribers such as hotels, apartment buildings, and oil and gas companies. 75.54% of the company before the IPO is owned by Global Mediacom, a media and broadcasting group listed on the Indonesia Stock Exchange (IDX), while 20.00% is owned by publicly listed investment company Bhakti Investama. MNC Sky Vision has two subsidiaries, namely Aerospace Satellite Corporation Holding BV, which resides in the Netherlands, and Mediacitra Indostar, residing in Indonesia, which operates satellite.

Report Date

Company Background and Historical Events

Global Mediacom, PT, Tbk. Bhakti Investama, PT, Tbk. Others Public

M

• •

•

• •

• •

• •

1988 – Matahari Lintas Cakrawala, PT. was founded. 1998 – The company became a pioneer in digital broadcasting through Indostar-I Satellite with S-band frequency. 2004 – The company underwent several management changes and made stategic marketing improvements one of which was lending decoders to subscribers. From then on subscribers grew significantly. 2006 – Change of company name to MNC Sky Vision. 2007 – Global Mediacom and Bhakti Investama became the major shareholders. The company launched TopTV as its’ second pay TV brand. 2008 – Global Mediacom increased stake at the company to 75%. 2009 – MNC Sky Vision launched Indostar-II Satellite with double canal capacity that is able to distribute more than 160 quality channels. In the same year, the company was also rewarded Best Market Driving Strategy and Best Innovation in Marketing at the Marketing Award. 2011 – Acquired Okevision’s subscribers and launched MPEG-4. 2012 – MNC Sky Vision launched technology-based service innovation, High Definition TV and Internet TV.

20-Jun-12

Core Business

:

Media - Television

IPO Price Shares Offered Maximum Shares Outstanding

: : :

IDR 1,460 – 1,750 1,412,776,000 shares 20.00%

Use of IPO Proceeds

:

Capital Expenditure (70%) Debt Repayment (20%) Working Capital (10%)

Underwriter

:

PT Danareksa Sekuritas PT MNC Securities

Dividend Payout

:

35% of net profit

: : : : :

15-25 June-12 27-June-12 29 June - 03 July 12 04-July-12 9-July-12

Indicative Schedules Book-building Effective Date Offering Period Allotment Listing Date

Ownership Structure (Pre-IPO) Global Mediacom, PT, Tbk. Bhakti Investama, PT, Tbk. Others

: : :

75.54% 20.00% 4.46%

Ownership Structure (Post-IPO)

Peers

: : : :

66.47% 9.60% 3.93% 20.00%

Market Share (2011)

MNC Sky Vision First Media

69.6% 10.2%

Telkom Indonesia Polaris

11.1% 8.4%

NexMedia

0.1%

Highlights: -

Pay TV operator with 70% market share Strong brand awareness High entrybarrier industry

Please see the back page for rating definition, analysts certification, and important disclosure. Phillip Securities Indonesia (PSI) may seek to do business with companies coverage in its reports. As a result investors, should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision

MNC Sky Vision Indonesia Equities Research June 20, 2012 Pay TV Subscribers in Asia Pacific 2011 (In Thousand)

Industry Overview

8000

Indonesia’s commercial television industry commenced in 1998, with Rajawali Citra Televisi Indonesia (RCTI) as the first privately owned Free to Air (FTA) national TV station. Currently, there are 10 private national TV stations, 1 stateowned TV station, and more than 80 private local TV stations with provincial broadcasting licenses. On average, Indonesian television viewers spend 185 minutes per day watching various programs.

1,058

7000

Satellite

Cable

IPTV

6000 5000 530

4000

30

3000

5,951

165 2,650

2000

778

3095

1000 25

57

1,323

710

1650

0

1,106 45

1,403

5 210

1092

1458

1,146

325

35

353

826

545

Source: Company, Media Partners Asia 2012

Pay TV Monthly ARPU in Asia Pacific 2011 (in USD) 100

93.4

90

ARPU

80 70 60

57.6 52.9

50 40

32.1

30

28.9 20.7 18.9 16.6

20

13.6 12.2

10

8.5 7.9

4.6 3.9 3.7 3.4

0


Pay TV Market Penetration in Asia Pacific 2011 120.0%

100.0%

Market Penetration

99.8% 82.9%

80.0%

79.2% 66.4%

60.0%

50.8%

46.3%

12.9%

10.3% 4.8%

0.0%


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Customer Care (62-21) 57 900 900 www.poems.co.id | www.poems.web.id

Growing number of subscribers and Average Revenue Per Unit (ARPU) will still be the major driving factors for the growth of pay TV industry in Indonesia, as subscription fee grows with estimated CAGR of 24.8% between 2011 – 2016. MPA also forecast increasing business competitions in the industry, particularly in middle and middle-low market, while Indovision will remain the market leader in premium market. The ARPU is estimated to decrease with CAGR of 3% in five years time to USD 12 in 2016, which reflects increasing competition in mid and mid-low market of pay TV industry. The increasing market penetration will attract more advertisers, and subsequently will boost advertising revenues. The net advertising revenue gained by pay TV companies is estimated to grow from USD 24 million in 2011 to USD 59 million in 2016. The total industry revenue is expected to grow from USD 269 million in 2011 to USD 800 million in 2016. Market penetration rate for television industry in Indonesia is one of the lowest among Asian countries, and is estimated to grow significantly in five years to come, from 56% in 2011 to 60% in 2016, or equal to approximately 38 million families or around 90 million viewers. Such growth will be driven by economic growth and increasing personal income and spending, as the keys to growth in FTA and pay TV industries.

40.0%

20.0%

Pay TV was first became known in 1995 in Indonesia with the emergence of Indovision, satellite-based Direct to Home (DTH) operator. Pay TV market share decreased significantly after the economic crisis of 1997 – 1998, and only started recovering in year 2000. Since then, the media industry in Indonesia has been dynamically and rapidly developing as the economy grew with strong fundamentals, including increasing personal income and spending. Media content, distribution and technology have also been developing well as new players in the industry enters the business. According to Media Partners Asia (MPA), investments in developing local television channels, HDTV and Digital Video Recorder will strengthen pay TV market share in Indonesia. MPA estimated revenues from pay TV in Indonesia will increase with CARG of 24.4% from USD 279 million in 2010 to USD 829 million in 2016, as the number of subscribers grows with CAGR of 26.9% from 1.7 million subscribers to 5.5 million subscribers in the same estimation period. The growth of satellite-based subscribed TV channels will be still dominated by MNC Sky Vision with its Indovision, Top TV and OkeVision brands.

MNC Sky Vision Indonesia Equities Research June 20, 2012 Indonesia’s Personal Consumption Expenditure

The country’s private consumption expenditure has been growing steadily in the last five quarters. Private consumption expenditure in the last quarter of 2011 totaled at a seasonally adjusted IDR 1,057.2 trillion, while in Q3-2011 it summed up to IDR 1,031.00 trillion, from under 1 trillion Rupiah in Q2-2011. Consumer confidence in Indonesia declined to 108.1 in the first quarter of 2012 from 108.4 in the fourth quarter of 2011. The quarterly Consumer Tendency Index (CTI) published by the Central Bureau of Statistics measures household perceptions about economic conditions and consumer consumption behavior. The survey covers a sample of 1,250 households in the greater Jakarta area. In the capital region, household expenditure is expected to rise in the coming Q2-2012, with the Consumer Tendency Index estimated at 112.56 from previously 110.23 in Q1-2012. Household expenditure for clothings accounted for more than 9.3% of the total household expenditure in Q4-2011, while in Q1-2012 clothings item summed up to 6.53% of the total household expenditure in greater Jakarta area. The inflation rate in Indonesia was reported at 4.5% in April of 2012. From 1997 until 2010, the average inflation rate in Indonesia was 13.26% reaching an historical high of 82.40% in September of 1998 and a record low of -1.17% in March of 2000. Retail Sales in Indonesia declined 0.6% in January of 2012 over the previous month. This is expected as retail’s peak seasons are during Christmas and Eid al-Fitr. From 2004 until 2011, Indonesia's average Retail Sales was 1.38% reaching an historical high of 26.00% in October of 2006 and a record low of -22.30% in November of 2006. Business confidence in Indonesia improved to 108.37 in the first quarter of 2012 from 106.92 in the fourth quarter of 2011. Quarterly Business Tendency Index (BTI) published by the Central Bureau of Statistics and Bank Indonesia measures the expectations of an entrepreneurs about business conditions and economy in general. The survey covers the sample of around 1,800 managers from large and medium companies from different sectors of the economy.

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1080

1,057.20

Indonesia PCE (IDR Trillion)

1060 1040

1,031.00

1020

994.7

1000 980 960 940

970.5

Indonesia’s gross domestic product (GDP) has been well supported by private consumption expenditure in the last few years. The gross domestic product in Indonesia expanded 6.3% in the first quarter of 2012 over the same quarter in the previous year. Historically, from 2000 until 2011, Indonesia's average annual GDP Growth was 5.27 percent reaching an historical high of 7.16 percent in December of 2004 and a record low of 1.56 percent in December of 2001.

945.6

Indonesia’s Economic Growth

920 900 880

2010 (Q4)

2011 (Q1)

2011 (Q2)

2011 (Q3)

2011 (Q4)

Source: Indonesia Central Bureau of Statistics

Indonesia’s Gross Domestic Product Indonesia GDP Growth Rate

7.00%

6.00%

6.10%

6.00%

6.20%

4.60%

5.00% 4.00% 3.00% 2.00% 1.00% 0.00% 1

2

3

4


Jakarta Capital Region Household Expenditure (Q1-2012) Household Expenditure Jakarta (Q1‐2012) Food 10.23% Utilities 10.69%

Others 18.63%

Clothing 6.53%

Fuel 9.45%

Leisure 7.43% Transportation 10.31% Education 9.74%


Health 6.62%

Home 10.38%

MNC Sky Vision Indonesia Equities Research June 20, 2012 Pay-TV Market Share in Indonesia Aora Okevision 8.00% 5.00%

Business Overview Market Share MNC Sky Vision is currently the largest pay TV operator in Indonesia with over 1,162,872 subscribers as of Dec 31, 2011, representing 69.6% of market share. Through three of the company’s pay TV brands, the number of subscribers grew 44.6% from 804,158 subscribers in 2010. Indovision, the company’s first premium pay-TV brand launched in 1994 targeting mid to upper income subscribers, has 752,143 subscribers as of Dec 31, 2011, representing 45.0% of pay-TV market share in Indonesia. In 2008 the company launched Top TV brand, offering more affordable subscription packages aiming to tap into mid to low income subscribers. According to MPA’s research in April 2012, Top TV became the largest payTV brand in Indonesia with 335,034 subscribers as of Dec 31, 2011, representing 20.1% of pay-TV market share in the country. The company’s third pay-TV brand, OkeVision, currently ranks the sixth among industry peers in Indonesia with 75,695 subscribers, representing 4.5% of pay-TV market share.

Others 1.00%

Telkomvision 11.00%

Indovision 45.00% First Media 10.00%

TopTV 20.00%


Number of Subscribers (In Thousand) Top TV

OkeVision

Total

Sales Distribution Network Currently the company has 1,106 internal sales personnel and 507 third party distributors. Products are sold in various methods, including door-to-door, retail, through call center and at the company’s 58 representative offices throughout the country. The internal sales effort contributed 70% of the total new subscribers in 2011.

1163

76 335

804 173

604

306 306 2007

480 26

88

454

516

2008

2009

752

631

Financial Highlights

2010

2009 - 2010 Revenue grew 34% from IDR 1,055 billion in 2009 to IDR 1,412 in 2010 as the number of Indovision subscribers rose after the launch of the new Indostar-II satellite which can broadcast more channels. In the same period, EBITDA rose 63% from IDR 321 billion in 2009 to IDR 522 billion in 2010. EBITDA margin climbed from 30% in 2009 to 37% in 2010. Net profit grew 39% to IDR 106 billion to IDR 147 billion in 2010.

2011

Source: Company

Brand Awareness Aided

Unaided

Top of Mind

2010 - 2011 Revenue grew 23% from IDR 1.412 billion in 2010 to IDR 1.738 billion in 2011 as number of subscribers grew. EBITDA rose 39% from IDR 522 billion in 2010 to IDR 728 billion in 2011. EBITDA margin advanced from 37% in 2010 to 42% in 2011. Net profit fell 55% from IDR 147 billion in 2010 to IDR 65 billion in 2011. The declining net profit was due to foreign exchange loss, satellite depreciation and bond yield payout.

120% 100% 80% 60% 40% 20%

Skynindo

Aora

Yes TV

Oke Vision

Telkom

First Media

Top TV

Indovision

0%

Source: Company, Prompt Research 2011

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Q1 2011 – Q1-2012 Revenue rose 31% from IDR 408 billion in Q1-2011 to IDR 535 billion in Q1-2012 as the number of subscribers continued growing. EBITDA grew 42% from IDR 170 billion in Q1-2011 to IDR 241 billion in Q1-2012, while EBITDA margin climbed 42% in Q1-2012 to 45% in Q1-2012. Net profit fell 43% from IDR 65 billion in Q1-2011 to IDR 37 billion in Q1-2012 as foreign exchange loss dented profits.

MNC Sky Vision Indonesia Equities Research June 20, 2012 Balance Sheet (In Billion IDR) Asset Current Asset Fixed Asset Total Asset Liabilities Short-term Liabilities Long-term Liabilities Total Liabilities Equity Capital Stock Additional Paid-in Capital Retained Earnings (after quasi-reorganization) Total Equity Total Liabilities and Equity

2007

2008

2009

2010

2011

666.2 1,150.6 1,816.7

501.8 1,520.3 2,022.1

499.2 1,688.8 2,188.0

483.3 2,579.5 3,062.8

565.9 2,881.7 3,447.7

313.3 831.0 1,144.3

442.5 939.7 1,382.2

617.7 824.3 1,441.9

631.9 1,538.0 2,169.9

924.0 1,565.5 2,489.4

621.6 13.9 36.8

621.6 13.9 4.3

621.6 13.9 110.5

621.6 13.9 257.3

621.6 13.9 322.7

672.4 1,861.7

639.8 2,022.1

746.1 2,188.0

892.9 3,062.8

958.2 3,447.7

Source: Company

Income Statement 2007 (In Billion IDR) Revenue COGS Gross Profit Pretax Income Net Income

501.1 371.4 129.7 51.7 36.8

2008 797.2 654.7 142.4 (43.3) (32.6)

2009

2010

2011

1,054.9 890.7 164.2 190.8 106.3

1,411.9 1,084.3 327.6 206.0 146.8

1,737.8 1,317.7 420.1 107.0 65.3

2007

2008

2009

Source: Company

Solvability and Liquidity Ratio Solvability Debt/Equity Debt/Asset Asset/Liability Liquidity Current Asset/Short-term Liability

2010

2011

1.7 0.6 1.6

2.2 0.7 1.5

1.9 0.7 1.5

2.4 0.7 1.4

2.6 0.7 1.4

212.6%

113.4%

80.8%

76.5%

61.3%

Source: Company

2007

2008

2009

3,447.7

1,600.0 1,400.0 1,200.0

2,489.4

2,188.0 1,441.9 746.1

500.0

2,022.1 1,382.2 639.8

1,000.0

1,816.7 1,144.3 672.4

2,000.0

1,000.0 800.0 600.0

892.9

2,500.0

3,062.8

3,000.0

Income Statement 2007 ‐ 2011 Billion IDR

1,800.0

2,169.9

3,500.0

1,500.0

2,000.0

Balance Sheet 2007 ‐ 2011 Billion IDR

400.0

958.2

4,000.0

200.0

‐

‐

Total Asset

Total Liabilities

2010

(200.0)

2011

Total Equity

Revenue

Source: Company

Source: Company

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2007

2008 Gross Profit

2009 Pretax Income

2010

2011

Net Income

MNC Sky Vision Indonesia Equities Research June 20, 2012 SWOT Analysis

Strength

Weakness

Strong Brand Awareness. Leader in pay TV market in Indonesia. Wide product portfolio and targeted brand segmentation. National broadcasting coverage

Relatively low profit margin. Relatively high debt to equity ratio Significantly large capital expenditure for business sustainability and expansion. Relying on contents from third party providers.

High dividend payout (35%)

MNC Sky Vision

Opportunity

Threat

Indonesia still has the lowest market penetration rate for pay‐TV, giving opportunities to expand customer base. Growing GDP and personal spending, which means potentials to acquited more subscribers.

Failure to obtain or extend content broadcasting rights.

High Entry Barrier

Broadcasting regulation changes and adherence.

Satellite malfunction and lifespan.

Competitions from similar pay‐TV operators.

Source: Phillip Securities Indonesia – Research Department

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MNC Sky Vision Indonesia Equities Research June 20, 2012

Research Team | Telp: +62-21-57900800 | E-mail: [email protected] Armand Dharmasana Gunawan Sutanto Aditya Perdana Putra Pandristo Prasetyo Ginarto Venty Arnesya

Ratings for Sectors: Overweight : Expect the industry to perform better than the primary market index (JCI) over the next 12 months. Neutral : Expect the industry to perform in line with the primary market index (JCI) over the next 12 months. Underweight : Expect the industry to under perform the primary market index (JCI) over the next 12 months.

Ratings for Stocks: Buy : We expect this stock to give total return (price appreciation + dividend yield) of above 15% over the next 12 months. Hold : We expect this stock to give total return of between -15% and 15% over the next 12 months. Sell : We expect this stock to give total return of -15% or lower over the next 12 months.

Analyst Certification The research analyst(s) primarily responsible for the preparation of this research report hereby certify that all of the views expressed in this research report accurately reflect their personal views about any and all of the subject securities or issuers. The research analyst(s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed in this research report.

Disclaimers This document has been prepared for general circulation based on information obtained from sources believed to be reliable but we do not make any representations as to its accuracy or completeness. Phillip Securities Indonesia (PSI) accepts no liability whatsoever for any direct or consequential loss arising from any use of this document or any solicitations of an offer to buy or sell any securities. PSI and its directors, officials and/or employees may have positions in, and may effect transactions in securities mentioned herein from time to time in the open market or otherwise, and may receive brokerage fees or act as principal or agent in dealings with respect to these companies. PSI may also seek investment banking business with companies covered in its research reports. As a result investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision.

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MNC Sky Vision Indonesia Equities Research June 20, 2012

ANZ Tower Level 23B, Jl. Jendral Sudirman Kav 33A, Jakarta, 10220 - Indonesia Telp. (62-21) 57 900 800, Fax. (62-21) 57 900 809, Email : [email protected] Website: www.phillip.co.id | www.poems.co.id | www.poems.web.id Jakarta Komp. Ruko Mega Grosir Cempaka Mas Jl. Let. Jend. Soeprapto Blok D No. 7 Jakarta, 10640 Telp. (62-21) 4288 5051 / 52; Fax. (62-21) 4288 5049 E-Mail: [email protected]

Mangga Dua Ruko Bahan Bangunan Mangga Dua Blok F1/8 Jl. Mangga Dua Selatan Jakarta 10730 Telp. (62-21) 6220 3589; Fax. (62-21) 6220 3602 E-Mail: [email protected]

Rukan Sentra Latumenten Jl.Prof.Dr Latumenten no.50 Blk AA 12 Jakarta, 11460 Telp. (62-21) 5694 1781; Fax. (62-21) 5694 1791 E-Mail: [email protected]

Roxy Pusat Niaga Roxy Mas Blok B2/2 Jl. KH. Hasyim Ashari - Jakarta Barat Telp. (62-21) 6386 8308; Fax. (62-21) 6333 420 E-Mail: [email protected]

Pantai Indah Kapuk Jl. Pantai Indah Barat Rukan Ekslusif BGM Blok B-6 Telp. (62-21) 5694 5791/92/93; Fax. (62-21) 56945790 E-Mail: [email protected]

Taman Palem Rukan Malibu Blok H No. 23 Cengkareng, Jakbar 11730 Telp. (62-21) 5694 5055 / 5077; Fax. (62-21) 5694 5013; E-Mail: [email protected]

Sunter Jl. Mitra Boulevard Blok D No. 5 Sunter Jakarta, 14350 Telp. (62-21) 6530 2729; Fax. (62-21) 6583 7463 E-Mail: [email protected]

Kelapa Gading Jl. Boulevard Raya Blok WB2/27 Kelapa Gading Jakarta Utara Telp. (62-21) 7070 0050/4587/9264; Fax. (62-21) 453 2939; EMail: [email protected]

Citra Garden 2 Komp. Citra Niaga Blok A No.18 Citra Garden 2 - Kalideres, JakBar Telp. (62-21) 5436 0175; Fax. (62-21) 5436 0174

Puri Indah Puri Tirta, Kompleks Puri Kencana, Blok L6 No.88I Kembangan, Jakarta Barat Telp. (62-21) 58 00 999; Fax. (62-21) 58 300 999

Tanah Abang Pusat Grosir Metro Tanah Abang (PGMTA) Lantai 6, Jl.Fachrudin Tanah Abang - Jakarta Pusat 10250 Telp : (021) 3003 6745 / 3003 6746; Fax : (021) 3003 6748 Jawa Tengah Purwokerto Jln. Perintis Kemerdekaan No. 38 Purwokerto - Jawa Tengah, 53110 Telp. (62-281) 626 899; Fax. (62-281) 891 150 E-Mail: [email protected]

Solo Jl. Veteran 140 / 2-3 Solo, Jawa Tengah Telp. (62-271) 655 567, 667 168; Fax. (62-271) 647 288 E-Mail: [email protected]

Semarang Jl. Karang Wulan Timur No. 2 - 4 Semarang Indonesia Telp. (62-24) 355 5959; Fax. (62-24) 351 3194 E-Mail: [email protected]

Tegal Kompleks Nirmala Square Blok C no.7 Jl. Yos Sudarso - Tegal 52121 Telp. (62-283) 340773; Fax. (62-283) 340774

Jawa Barat Komp.Paskal Hypersquare Blok C-21 Jl Pasirkaliki 25-27 Bandung Telp. (62-22) 8606 0690; Fax. (62-22) 8606 0765 E-Mail: [email protected]

Bali Jln. Melati No. 45 Blok E Denpasar - Bali, 80233 Telp. (62-361) 238 987; Fax. (62-361) 229 803 E-Mail: [email protected]

Jawa Timur Jln. Flores No. 11 Surabaya, 60281 Telp. (62-31) 501 5777; Fax. (62-31) 501 0567 E-Mail: [email protected]

Batam Kompleks Mahkota Raya Blok A no. 10 Batam Centre, Kota Batam 29456, Kepri Telp. (62-778) 748 3337/3030/3131; Fax. (62-778) 748 3117; E-Mail: [email protected]

Jambi Jln. GR. Djamin Datuk Bagindo No. 56A Jambi, 36142 Telp. (0741) 707 8260, 7555 699 E-Mail: [email protected]

Kalimantan Barat Jl. Teuku Umar Komplek Pontianak Mal C 23-24 Pontianak, Kalimantan Barat Telp. (62-561) 777 887; Fax. (62-561) 745 103 E-Mail: [email protected]

Lampung Jl. Ikan Tongkol No. 33 Blok 7-8 Teluk Betung - Bandar Lampung, 35223 Telp. (2-721) 474 234; Fax. (62-721) 474 108 E-Mail: [email protected]

Pojok BEI (Phillip Sec Ind. – Univ. Bandar Lampung – BEI) Jl. Z.A Pagar Alam No. 89 Bandar Lampung, 35141 Telp. (62-721) 771 695; Fax. (62-721) 770 261

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FORMULIR APLIKASI IPO SAHAM Nama Saham / Emiten Tanggal Penawaran Umum Harga Penawaran

▪ ▪ ▪

: PT. MNC Sky Vision TBK. : 26 Juni 2012 s/d 29 Juni 2012 (pkl. 15.00 WIB>) : Rp. 1.520,- per saham

A. Persyaratan Aplikasi IPO Saham : (Mohon persyaratan ini dibaca, difahami dan dilaksanakan)) 1.

Nasabah melakukan pembayaran pemesanan saham secara penuh yaitu senilai jumlah saham yang dipesan dikalikan dengan harga per saham (Rp. 1.520,-). Pembayaran tersebut harus dilakukan selambat-lambatnya tanggal 29 Juni 2012 pukul 15.00 Wib (in good funds) dengan menyetor langsung ke Rekening Dana Investor (RDI) milik masing-masing Nasabah.

2. 3.

4. 5.

4.

5. 6. 7. 8.

Nasabah mengisi Formulir Aplikasi IPO Saham pada huruf B dibawah ini dengan lengkap, jelas dan benar dan menanda-tanganinya. Formulir Aplikasi IPO Saham yang sudah ditanda-tangani berikut foto copy KTP atau SIM yang masih berlaku, diserahkan kepada Kantor Cabang (bagi Nasabah dari Kantor Cabang) atau kepada Sales ( bagi Nasabah yang menggunakan jasa Sales) atau langsung kepada PT. Phillip Securities Indonesia Kantor Pusat u.p Divisi Corporate Finance melalui Fax No. 0 2 1 - 5 7 9 0 0 8 0 9 atau melalui email [email protected] (bagi Nasabah Kantor Pusat). Kantor Cabang dan Sales wajib membuat Rekapitulasi Pesanan Nasabah yang memuat : i). Nama Nasabah, ii). Kode Nasabah, iii). Jumlah Pesanan dalam lembar saham dan lot, iv). Nilai pesanan dalam Rupiah dan v). Keterangan tentang pembayaran. Rekapitulasi Pesanan Nasabah berikut foto copy KTP atau SIM Nasabah, diserahkan / dikirimkan kepada PT. Phillip Securities Indonesia Kantor Pusat (u.p Divisi Corporate Finance melalui Fax No. 0 2 1 - 5 7 9 0 0 8 0 9 atau melalui email [email protected] dengan tembusan kepada [email protected], selambat-lambatnya tanggal 29 Juni 2012 pukul 15.00 Wib. Dalam hal Formulir Pemesanan Pembelian Saham (FPPS) Asli yang diperoleh dari Lead Underwriter jumlahnya terbatas, maka pelayanan kepada Nasabah akan dilaksanakan berdasarkan urutan waktu masuknya pesanan kepada Divisi Corporate Finance (first come first served). Formulir Aplikasi IPO Saham yang telah ditanda-tangani tidak dapat dibatalkan namun bukan berarti bahwa pesanan Nasabah akan dipenuhi semua, karena penjatahan merupakan keputusan dan wewenang mutlak dari Penjamin Pelaksana Emisi (Lead Underwriter). Untuk informasi hasil Penjatahan, silahkan menghubungi Divisi Corporate Finance melalui telepon No. 0 2 1 – 5 7 9 0 0 8 0 0 Pengembalian uang pemesanan (refund) dilaksanakan paling lambat 2 (dua) hari kerja setelah refund diterima in good funds dari Lead Underwriter. Refund tersebut akan ditransfer ke Rekening Dana Investor (RDI) milik masing-masing Nasabah. PT. Phillip Securities Indonesia tidak bertanggung-jawab dan tidak akan menindak-lanjuti pesanan Nasabah apabila tidak memenuhi persyaratan di atas, antara lain Dana Pembayaran di dalam Rekening Dana Investor (RDI) milik Nasabah tidak tersedia atau tidak mencukupi, data / informasi / Rekapitulasi Pesanan Nasabah / Foto copy KTP atau SIM Nasabah yang disampaikan tidak benar (salah) dan atau tidak jelas / tidak terbaca.

B. Formulir Aplikasi IPO Saham (Mohon agar diisi dengan lengkap dan jelas) ▪

Nama & Kode Nasabah

:

▪

No. KTP.

:

▪

Alamat sesuai KTP.

:

▪

No. Telp./HP/Fax

:

▪

Alamat email

:

▪

Jumlah Pesanan

:

▪

Total Nilai Pemesanan

: Rp.

Kode :

lembar

(

lot)

Tempat dan Tanggal : ....….…………,………….., …… Kantor Cabang / Sales :

Nasabah :

(…………………………………….)

(…………………………………….)

Nama & Tanda-tangan

Nama & Tanda-tangan

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