PT FIRST MEDIA Tbk DAN PERUSAHAAN ANAK. PT FIRST MEDIA Tbk AND SUBSIDIARIES

PT FIRST MEDIA Tbk DAN PERUSAHAAN ANAK

Laporan Keuangan Konsolidasian Untuk Periode 9 (Sembilan) Bulan yang Berakhir 30 September 2010 dan 2009 (Tidak Diaudit)

d1/ October 29, 2010

PT FIRST MEDIA Tbk AND SUBSIDIARIES

Consolidated Financial Statements For the Period of 9 (Nine) Months Ended September 30, 2010 and 2009 (Unaudited)

PT FIRST MEDIA Tbk DAN PERUSAHAAN ANAK NERACA KONSOLIDASIAN Per 30 September 2010 dan 2009 (Tidak Diaudit) (Dalam Rupiah Penuh) ASET

Catatan/ Note

ASET LANCAR Kas dan Setara Kas Investasi Jangka Pendek Piutang Usaha (Setelah dikurangi penyisihan piutang raguragu masing-masing sebesar Rp 4.636.035.472 dan Rp 8.495.491.656 per 30 September 2010 dan 2009) Pihak Hubungan Istimewa Pihak Ketiga Piutang Lain-lain Pajak Dibayar di Muka Biaya Dibayar di Muka Jumlah Aset Lancar ASET TIDAK LANCAR Investasi Saham Aset Pajak Tangguhan - Bersih Piutang Hubungan Istimewa - Bersih Aset Tetap

PT FIRST MEDIA Tbk AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS As of September 30, 2010 and 2009 (Unaudited) (In Full Rupiah) 30 Sep 2010/ Sep 30, 2010 Rp

30 Sep 2009/ Sep 30, 2009 Rp

2.d, 2.f, 3 4,26 2.d, 2.h, 5,8, 26

55,091,855,792 60,000,000,000

11,587,674,028 --

2.e, 26

14,392,401,733 90,754,417,942 99,613,986 12,956,481,366 26,261,957,044 259,556,727,862

19,595,398,658 74,494,912,166 129,629,756 3,311,337,224 8,515,192,723 117,634,144,555

5,025,000,000 13,608,315,876 1,710,716,231

5,025,000,000 33,039,351,053 13,963,467,417

16.b 2.i, 6

2.e, 2.g, 7 2.r, 16.c 2.e, 2.h, 26

(Setelah dikurangi akumulasi penyusutan

as of September 30, 2010 and 2009

2010 dan 2009 dan penyisihan penurunan nilai

and allowance for impairment of property

aset tetap sebesarRp 1.074.410.798

JUMLAH ASET

NON CURRENT ASSETS Investment in Shares of Stock Deferred Tax Assets - Net Due from Related Parties - Net Property and Equipment Rp 688,367,502,365 and Rp 551,735,026,203

dan Rp 551.735.026.203 per 30 September

Aktiva Tidak Berwujud - Bersih Uang Muka Aset Lain-lain - Bersih Jumlah Aset Tidak Lancar

CURRENT ASSETS Cash and Cash Equivalents Short-term Investments Trade Accounts Receivable (Net of allowance for doubtful accounts of Rp 4,636,035,472 and Rp 8,495,491,656 as of September 30, 2010 and 2009) Related Parties Third Parties Other Receivables Prepaid Taxes Prepaid Expenses Total Current Assets

(Net of accumulated depreciation of

masing-masing sebesar Rp 688.367.502.365

per 30 September 2010 dan 2009)

ASSETS

and equipment of Rp 1,074,410,798

2.k, 2.l, 2.m, 8 2.n,6,10 2.e,9 2.d, 2.m, 2.n, 10

1,174,759,491,870 123,564,788,340 36,175,037,512 32,424,132,797 1,387,267,482,624

1,155,349,482,172 3,747,057,134 25,624,146,247 49,450,302,343 1,286,198,806,366

1,646,824,210,486

1,403,832,950,921

Lihat Catatan atas Laporan Keuangan Konsolidasian yang merupakan bagian tidak terpisahkan dari Laporan ini

as of September 30, 2010 and 2009)

Intangible Assets - Net Advances Other Assets - Net Total Non-Current Assets TOTAL ASSETS

See the Accompanying Notes which are an integral part of these Consolidated Financial Statements

1

PT FIRST MEDIA Tbk DAN PERUSAHAAN ANAK NERACA KONSOLIDASIAN Per 30 September 2010 dan 2009 (Tidak Diaudit) (Dalam Rupiah Penuh) KEWAJIBAN DAN EKUITAS

Catatan/ Note

KEWAJIBAN KEWAJIBAN LANCAR Pinjaman Jangka Pendek Surat Promes Hutang Jangka Panjang yang Jatuh Tempo dalam Satu Tahun: Pinjaman Bank Hutang Sewa Pembiayaan Kewajiban Anjak Piutang Hutang Usaha Pihak Hubungan Istimewa Pihak Ketiga Hutang Lain-lain Hutang Pajak Beban Masih Harus Dibayar Pendapatan Jasa Langganan Ditangguhkan Setoran Jaminan dari Pelanggan Jumlah Kewajiban Lancar KEWAJIBAN TIDAK LANCAR Hutang Jangka Panjang setelah dikurangi Bagian yang Jatuh Tempo dalam Satu Tahun: Pinjaman Bank Hutang Sewa Pembiayaan Kewajiban Diestimasi atas Imbalan Kerja Surat Promes Jumlah Kewajiban Tidak Lancar Jumlah Kewajiban

PT FIRST MEDIA Tbk AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS As of September 30, 2010 and 2009 (Unaudited) (In Full Rupiah) 30 Sep 2010/ Sep 30, 2010 Rp

30 Sep 2009/ Sep 30, 2009 Rp

2.d, 12 2.d, 2.e, 2.o, 14, 26

272,024,000,000 --

-273,960,752,169

2.d, 13,27 2.m, 8, 17,26 2.e, 2.p, 5, 26,27 2.d, 2.e, 15, 26 2.e,26

446,200,000,000 13,023,028,161 --

96,810,000,000 29,922,115,896 20,000,000,000

6,040,241,470 28,102,888,704 1,628,691,252 15,566,259,471 54,621,912,086 16,501,748,718 904,693,130 854,613,462,991

9,725,857,418 116,525,705,593 5,144,724,836 10,617,940,830 55,883,918,923 23,846,938,952 1,561,412,674 643,999,367,291

LIABILITIES CURRENT LIABILITES Short-term Loan Promissory Notes Current Maturities of Long-term Debts: Bank Loans Finance Lease Factoring Payable Trade Accounts Payable Related Parties Third Parties Other Payables Taxes Payable Accrued Expenses Unearned Subscription Fees Subscribers' Deposits Total Current Liabilities

-13,198,342,346 17,753,777,000 2,342,040,000 33,294,159,345 887,907,622,336

435,645,000,000 22,390,329,479 9,654,771,176 -467,690,100,655 1,111,689,467,946

NON-CURRENT LIABILITIES Long-term Debts - Net of Current Maturities: Bank Loans Finance Lease Estimated Liabilties on Employee Benefits Promissory Notes Total Non-Current Liabilities Total Liabilities

--

1,538,287

Minority Interest

2.d 2.r, 16.a 2.d, 2.e, 18, 26 2.q, 19

2.d, 13 2.m, 8, 17, 26 2.s, 20 2o, 14

Hak Minoritas EKUITAS Modal Saham - Nilai Nominal Rp 500 per Saham

STOCKHOLDERS' EQUITY Capital Stock - Par Value of Rp 500 per Share

Modal Dasar - masing-masing sebesar 3.300.000.000

Authorized - 3,300,000,000 and 1,497,200,000 Shares

dan 1.497.200.000 Saham per 30 September 2010 dan 2009

as of September 30, 2010 and 2009, respectively

Modal Ditempatkan dan Disetor Penuh -

Issued and Fully Paid -1,741,895,400

masing-masing sebesar 1.741.895.400 dan 829.474.000 Saham per 30 September 2010 dan 2009

Tambahan Modal Disetor - Bersih Selisih Nilai Transaksi Restrukturisasi Entitas Sepengendali Defisit Jumlah Ekuitas JUMLAH KEWAJIBAN DAN EKUITAS

LIABILITIES AND STOCKHOLDERS' EQUITY

and 829,474,000 Shares as of

21 2.t

870,947,700,000 (3,709,941,789)

414,737,000,000 (1,144,845,814)

1.c, 2.c

(8,590,762,453) (99,730,407,608) 758,916,588,150

(8,590,762,453) (112,859,447,045) 292,141,944,688

1,646,824,210,486

1,403,832,950,921


September 30, 2010 and 2009, respectively

Paid in Capital - Net Difference in Value of Restructuring Transactions of Entities Under Common Control Deficit Total Stockholders' Equity TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY


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PT FIRST MEDIA Tbk DAN PERUSAHAAN ANAK LAPORAN LABA RUGI KONSOLIDASIAN Untuk Periode 9 (Sembilan) Bulan yang Berakhir pada 30 September 2010 dan 2009 (Tidak Diaudit) (Dalam Rupiah Penuh) Catatan/

30 Sep 2010/ Sep 30, 2010 Rp

30 Sep 2009/ Sep 30, 2009 Rp

2.e, 2.q, 22, 26

605,837,843,542

531,281,390,175

REVENUES

2.q, 23

140,898,082,865

238,252,284,867

COST OF SERVICES

464,939,760,677

293,029,105,308

GROSS PROFIT

37,039,125,738 256,625,247,717 105,852,585,990 399,516,959,445

37,831,172,947 118,233,760,248 97,191,977,414 253,256,910,609

65,422,801,232

39,772,194,699

2.d 16.b

37,854,438,747 (1,193,627,733)

87,162,035,181 (5,067,742,400)

2.e, 26

(45,865,787,394) (7,784,664,185) (16,989,640,565)

(55,362,471,839) (244,445,490) 26,487,375,452

OTHER INCOME (CHARGES) Gain on Foreign Exchange - Net Tax Expenses Interest and Other Financing Charges Net Others - Net Total Other Charges - Net

48,433,160,668

66,259,570,151

INCOME BEFORE INCOME TAX EXPENSES

(12,148,436,918) (9,276,082,503) (21,424,519,421)

(6,054,150,684) (13,549,718,261) (19,603,868,945)

INCOME TAX EXPENSE Current Deferred Total Income Tax Expense

27,008,641,247

46,655,701,206

NET INCOME BEFORE MINORITY INTEREST

7,761,464

23,266,524

MINORITY INTEREST

27,016,402,711

46,678,967,730

NET INCOME

21

56

BASIC EARNING PER SHARE

Note PENDAPATAN BEBAN LAYANAN LABA KOTOR BEBAN USAHA Penjualan Umum dan Administrasi Penyusutan Aset Tetap Jumlah Beban Usaha

2.q, 24 2.e, 2.q, 25, 26 2.j, 8

LABA USAHA PENGHASILAN (BEBAN) LAIN-LAIN Keuntungan Selisih Kurs - Bersih Beban Pajak Beban Bunga dan Pendanaan Lainnya Bersih Lain-lain - Bersih Jumlah Beban Lain-lain - Bersih LABA SEBELUM BEBAN PAJAK PENGHASILAN BEBAN PAJAK PENGHASILAN Kini Tangguhan Jumlah Beban Pajak Penghasilan

2.r 2.r, 16.c

LABA BERSIH SEBELUM HAK MINORITAS HAK MINORITAS

2.b

LABA BERSIH LABA PER SAHAM DASAR

PT FIRST MEDIA Tbk AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME For the Period of 9 (Nine) Months Ended September 30, 2010 and 2009 (Unaudited) (In Full Rupiah)

2.u


OPERATING EXPENSES Selling General and Administrative Depreciation Total Operating Expenses INCOME FROM OPERATIONS


3

PT FIRST MEDIA Tbk DAN PERUSAHAAN ANAK LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN Untuk Periode 9 (Sembilan) Bulan yang Berakhir pada 30 September 2010 dan 2009 (Tidak Diaudit) (Dalam Rupiah Penuh)

PT FIRST MEDIA Tbk AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY For the period of 9 (Nine) Months Ended September 30, 2010 and 2009 (Unaudited) (In Full Rupiah)

Defisit/Deficit Modal Saham/ Tambahan Modal Selisih Nilai Capital Stock Disetor - Bersih/ Transaksi Ditentukan Belum Ditentukan Additional Paid in Restrukturisasi Penggunaannya/ Penggunaannya/ Capital - Net Entitas Appropriated Unappropriated Sepengendali/ Difference in Value of Restructuring Transactions of Entities Under Common Control Rp

Rp

Rp

414,737,000,000

(1,144,845,814)

(8,590,762,453)

--

--

--

SALDO PER 30 SEPTEMBER 2009

414,737,000,000

(1,144,845,814)

SALDO PER 31 DESEMBER 2009

414,737,000,000

(1,144,845,814)

SALDO PER 31 DESEMBER 2008 Laba Bersih (9 Bulan)

Rp

Rp

100,000,000 (159,638,414,775)

Jumlah Ekuitas/ Total Stockholders' Equity

Rp

245,462,976,958

BALANCE AS OF DECEMBER 31, 2008

46,678,967,730

46,678,967,730

Net Income (9 Months)

(8,590,762,453)

100,000,000 (112,959,447,045)

292,141,944,688

BALANCE AS OF SEPTEMBER 30, 2009

(8,590,762,453)

100,000,000 (126,846,810,319)

278,254,581,414

BALANCE AS OF DECEMBER 31, 2009

--

Penambahan Modal Disetor Melalui Hak Memesan Efek Terlebih Dahulu pada Penawaran Umum Terbatas II Beban Emisi Saham Laba Bersih (9 Bulan)

456,210,700,000 ---

-(2,565,095,975) --

----

----

--27,016,402,711

456,210,700,000 (2,565,095,975) 27,016,402,711

Additional of Capital Stock through Pre-Emptive Right Issuance on Limited Public Offering II Stock Issuance Cost Net Income (9 Months)

SALDO PER 30 SEPTEMBER 2010

870,947,700,000

(3,709,941,789)

(8,590,762,453)

100,000,000

(99,830,407,608)

758,916,588,150

BALANCE AS OF SEPTEMBER 30, 2010


d1/ October 29, 2010


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PT FIRST MEDIA Tbk DAN PERUSAHAAN ANAK LAPORAN ARUS KAS KONSOLIDASIAN Untuk Periode 9 (Sembilan) Bulan yang Berakhir pada 30 September 2010 dan 2009 (Tidak Diaudit) (Dalam Rupiah Penuh)

PT FIRST MEDIA Tbk AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS For the Period of 9 (Nine) Months Ended September 30, 2010 and 2009 (Unaudited) (In Full Rupiah)

30 Sep 2010/ Sep 30, 2010 Rp

30 Sep 2009/ Sep 30, 2009 Rp

564,179,445,634

547,124,847,382

(223,208,021,773) (99,794,154,438)

(265,361,003,122) (76,243,740,289)

(95,082,221,972) 146,095,047,451 (35,952,535,391) (3,361,676,831) (25,837,574,414)

(96,445,141,529) 109,074,962,442 (58,118,315,041) (3,048,380,539) (17,532,693,862)

80,943,260,815

30,375,573,000

CASH FLOWS FROM OPERATING ACTIVITIES Cash Received from Customers and Subscribers Cash Disbursements for: Suppliers Salaries and Employee Benefits Operating Expense, Excluding Salaries and Employee Benefits Net Cash Provided by Operations Interest Paid - Net Payment for Tax Expense Other Disbursements - Net Net Cash Flows Used in (Provided by) Operating Activities

ARUS KAS DARI AKTIVITAS INVESTASI Hasil Penjualan Aset Tetap Perolehan Aset Tetap Hasil Pelepasan Investasi Jangka Pendek - Bersih Penempatan pada Investasi Jangka Pendek Arus Kas Bersih Digunakan untuk Aktivitas Investasi

12,502,429,352 (93,623,255,642) 45,000,000,000 (105,000,000,000) (141,120,826,290)

1,199,005,000 (120,000,305,746) 30,366,367,768 -(88,434,932,978)

CASH FLOWS FROM INVESTING ACTIVITIES Proceeds from Disposal of Property and Equipment Acquisition of Property and Equipment Proceed from Disposal of Short -term Investments - Net Placement in Short Term Investment Net Cash Flows Used in Investing Activities

ARUS KAS DARI AKTIVITAS PENDANAAN Penerimaan dari Penambahan Modal Disetor Penerimaan dari Pinjaman Bank dan Surat Promes Pembayaran Pinjaman Bank dan Surat Promes Pembayaran Pinjaman Sewa Pembiayaan Pengeluaran untuk Transaksi Hubungan Istimewa Arus Kas Bersih Digunakan untuk Aktivitas Pendanaan

456,210,700,000 25,235,455,346 (373,859,988,221) (24,036,157,799) -83,550,009,326

-52,139,921,161 (9,622,409,955) (23,342,847,802) 134,099,484 19,308,762,888

CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from Addition of Capital Stock Proceeds from Bank Loans and Promissory Notes Repayment of Bank Loans and Promissory Notes Repayment of Finance Lease Obligation Disbursement to Related Parties Transactions Net Cash Flows Used in Financing Activities

23,372,443,852

(38,750,597,090)

ARUS KAS DARI AKTIVITAS OPERASI Penerimaan Kas dari Pelanggan Pengeluaran Kas untuk: Pemasok Gaji dan Kesejahteraan Karyawan Beban Usaha, Tidak Termasuk Gaji dan Kesejahteraan Karyawan Kas Bersih Diperoleh dari Operasi Pembayaran Bunga - Bersih Pembayaran Beban Pajak Pengeluaran Lainnya - Bersih Arus Kas Bersih Digunakan untuk (Diperoleh dari) Aktivitas Operasi

PENURUNAN BERSIH KAS DAN SETARA KAS SALDO KAS DAN SETARA KAS PADA AWAL PERIODE

31,719,411,940

50,338,271,118

SALDO KAS DAN SETARA KAS PADA AKHIR PERIODE

55,091,855,792

11,587,674,028

DECREASE IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD

Aktivitas yang Tidak Mempengaruhi Arus Kas Penambahan Aset Sewa Pembiayaan

12,990,996,778

1,200,000,000

Non Cash Activities Addition of Assets under Finance Lease



5

PT FIRST MEDIA Tbk DAN PERUSAHAAN ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN

PT FIRST MEDIA Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Untuk Periode 9 (Sembilan) Bulan yang Berakhir pada 30 September 2010 dan 2009 (Tidak Diaudit) (Dalam Rupiah Penuh)

For the Period of 9 (Nine) Months Ended September 30, 2010 and 2009 (Unaudited) (In Full Rupiah)

1. Umum

1. General

1.a. Pendirian Perusahaan PT First Media Tbk (Perusahaan) didirikan pada tanggal 6 Januari 1994 berdasarkan akta notaris B.R.A.Y. Mahyastoeti Notonagoro, SH, No. 37 dengan nama PT Safira Ananda. Akta pendirian ini telah disahkan oleh Menteri Kehakiman dalam surat keputusan No. C2-1.446.HT.01.01.Th.95 tanggal 1 Pebruari 1995 dan telah diumumkan dalam Berita Negara No. 81 Tambahan No. 6613 tanggal 8 Oktober 1999. Anggaran dasar Perusahaan telah mengalami beberapa perubahan, terakhir dengan akta notaris Lindasari Bachroem, SH, No. 7, tanggal 20 Juli 2010, mengenai perubahan modal ditempatkan dan disetor Perusahaan yang telah diberitahukan kepada Menteri Hukum dan Hak Asasi Manusia dalam surat penerimaan pemberitahuan No. AHU-AH.01.10. 21071.

1.a. The Company’s Establishment PT First Media Tbk (formerly PT Broadband Multimedia Tbk) (the Company) was established on January 6, 1994, based on notarial deed No. 37 of B.R.A.Y. Mahyastoeti Notonagoro, SH, under the name of PT Safira Ananda. The deed establishment was approved by the Minister of Justice in his decree No. C2-1.446.HT.01.01.Th.95 dated February 1, 1995 and was published in the State Gazette No. 81 Supplement No. 6613 dated October 8, 1999. The Company’s articles of association has been amended, concerning the most recently by notarial deed No. 7 of Lindasari Bachroem, SH, dated July 20, 2010, concerning the amendment of the Company’s issued and paid up capital and was approved by Minister of Law and Human Rights with No. AHU-AH.01.10.21071.

Perusahaan terutama bergerak dalam penyediaan jasa melalui jaringan komunikasi pita lebar (“jaringan”) (broadband communication network) dan pendistribusian sinyal elektronik melalui jaringan tersebut, yang saat ini pendapatannya terutama dihasilkan dari jasa pendistribusian program televisi di Jakarta, Bogor, Tangerang, Bekasi, Surabaya dan Bali. Perusahaan bekerja sama dengan PT Link Net, perusahaan anak, memberikan layanan internet broadband berkecepatan tinggi melalui jaringan yang dimiliki Perusahaan, yang saat ini memperoleh pendapatan dari koneksi internet broadband tersebut di wilayah Jakarta, Tangerang, Bekasi dan Surabaya.

The Company is engaged primarily in the provision of services through a broadband communication network (“the network”) and the distribution of various electronic signals through the network, with its revenue currently derived primarily from distribution of television program in Jakarta, Bogor, Tangerang, Bekasi, Surabaya and Bali. The Company cooperate with PT Link Net, a subsidiary, provide a high speed internet broadband services through the Company’s network, which currently generate revenues from internet broadband connection in Jakarta, Tangerang, Bekasi and Surabaya areas.

Perusahaan berdomisili di Gedung Citra Graha Lantai 4, Jl. Gatot Subroto Kav 35-36 Jakarta. Perusahaan memulai kegiatan komersialnya pada 1 Maret 1999.

The Company is domiciled at Citra Graha Building 4th Floor, Jl. Gatot Subroto Kav 35-36 Jakarta. The Company started its commercial operations on March 1, 1999.

Pada tanggal 26 September 2001, Perusahaan mendapat izin Local Packet-Switch yang dapat diperbaharui setiap lima tahun dari Menteri Perhubungan dalam Surat Keputusan No. KP.227 Tahun 2001.

On September 26, 2001, the Company obtained a five-year renewable Local Packet-Switch License from the Minister of Transportation in his letter No. KP.227 Year 2001.

Pada tanggal 3 September 2004, Perusahaan mendapat izin penyelenggaraan jasa televisi berbayar berlaku sampai jangka waktu yang tidak terbatas dan terhadap izin ini akan dilakukan evaluasi secara menyeluruh setiap 5 (lima) tahun berdasarkan Surat Keputusan Direktur Jenderal Pos dan Telekomunikasi No. 256/Dirjen/2004 yang menggantikan surat sebelumnya No. 261/DIRJEN/1999 tanggal 31 Desember 1999.

On September 3, 2004, the Company obtained unlimited period nationwide cable television license and this license will be subject to comprehensive evaluation every 5 (five) years based on the Letter from the Director General of Post and Telecommunications No. 256/Dirjen/2004 revoking the previous letter No. 261/DIRJEN/1999 dated December 31, 1999.



6





Berdasarkan Surat Keputusan Menteri Komunikasi dan Informatika Republik Indonesia No. 237/KEP/M.KOMINFO /07/2009 tanggal 27 Juli 2009, Perusahaan telah ditetapkan sebagai salah satu pemenang seleksi untuk memperoleh izin penyelenggaraan Jaringan Tetap Lokal Berbasis Packet Switched yang menggunakan Pita Frekuensi Radio 2,3 GHz untuk keperluan layanan Pita Lebar Nirkabel (Wireless Broadband) di Zona 1 (wilayah Sumatera Bagian Utara) dan Zona 4 (wilayah Banten, Jakarta, Bogor, Depok, Tangerang dan Bekasi). Selanjutnya, Perusahaan telah memperoleh izin penyelenggaraan atas hal tersebut selama 10 (sepuluh) tahun terhitung sejak tanggal 18 Nopember 2009 sampai dengan tanggal 18 Nopember 2019.

Based on the Decree of the Ministry of Communication and Information of the Republic of Indonesia No. 237/KEP/M.KOMINFO /07/2009 dated July 27, 2009, the Company has been resolved as one of the selection winner to obtain license of Package Switch Based-Local Fixed Network Implementation using 2.3 GHz Radio Frequency Band for Wireless Broadband services in Zone 1 (North Sumatera Area) and Zone 4 (Banten, Jakarta, Bogor, Depok, Tangerang and Bekasi area). Furthermore, the Company has obtained license of the implementation for 10 (ten) years, starting November 18, 2009 up to November 18, 2019.

1.b. Penawaran Umum Saham Perusahaan Pernyataan Pendaftaran Perusahaan untuk menawarkan 20.000.000 sahamnya kepada masyarakat dengan harga pelaksanaan Rp 500 per saham dinyatakan efektif oleh Badan Pengawas Pasar Modal dalam suratnya No. S-73/PM/2000 tanggal 27 Januari 2000. Saham Perusahaan telah tercatat di Bursa Efek Surabaya pada tanggal 25 Pebruari 2000.

1.b. The Company’s Public Offering The Company’s Registration Statement to offer 20,000,000 shares to the public at the price of Rp 500 per share was declared effective by the Capital Market Supervisory Agency in its letter No. S-73/PM/2000 dated January 27, 2000. The Company's shares were listed at the Surabaya Stock Exchange on February 25, 2000.

Pada tahun 2006, Perusahaan melakukan Penawaran Umum Terbatas I kepada para pemegang saham dalam rangka penerbitan Hak Memesan Efek Terlebih Dahulu (HMETD) sejumlah 441.674.000 saham baru (dengan nilai nominal Rp 500 per saham) dengan harga penawaran Rp 500 per saham dan sebanyak-banyaknya 129.904.118 Waran Seri I yang diterbitkan menyertai saham baru yang diberikan secara cuma-cuma sebagai insentif bagi Pemegang Saham Perusahaan dan/atau pemegang HMETD yang melaksanakan HMETD. Penawaran tersebut telah mendapat pemberitahuan pernyataan efektifnya berdasarkan Surat Ketua Badan Pengawas Pasar Modal No. S-3415/BL/2006 tanggal 28 Desember 2006, dan menjadi efektif setelah mendapat persetujuan dari Rapat Umum Pemegang Saham Perusahaan tanggal 29 Desember 2006. Periode perdagangan HMETD dari tanggal 15 Januari sampai dengan tanggal 30 Januari 2007 dengan tanggal penjatahan saham pada tanggal 2 Pebruari 2007.

In 2006, the Company conducted Limited Public Offering in connection with Pre-Emptive Rights Issuance I of 441,674,000 new shares (at par value Rp 500 per share) at an offering price of Rp 500 per share and a maximum of 129,904,118 Warrant Serie I will be issued attached to the new shares which given freely as incentive for the stockholders of the Company and/or pre-emptive rights holders who exercise their rights. The offering has received an effective notification statement based on the Letter from the Chairman of Capital Market Supervisory Agency No. S3415/BL/2006 dated December 28, 2006, and became effective after obtained an approval from the Company’s Stockholders General Meeting dated December 29, 2006. The trading period of the pre-emptive rights was from January 15 until January 30, 2007 with share distribution date on February 2, 2007.

Pada tahun 2010, Perusahaan melakukan Penawaran Umum Terbatas II kepada para pemegang saham dalam rangka penerbitan Hak Memesan Efek Terlebih Dahulu (HMETD) sejumlah 912.421.400 saham baru (dengan nilai nominal Rp 500 per saham) dengan harga penawaran Rp 500 per saham dan sebanyak-

In 2010, the Company conducted Limited Public Offering in connection with Pre-Emptive Rights Issuance II of 912,421,400 new shares (at par value Rp 500 per share) at an offering price of Rp 500 per share and a maximum of 130,345,914 Warant Serie II will be issued attached to the new shares which given freely as incentive for the new



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banyaknya 130.345.914 Waran Seri II yang diterbitkan menyertai saham baru yang diberikan secara cuma-cuma sebagai insentif bagi Pemegang Saham Perusahaan dan/atau pemegang HMETD yang melaksanakan HMETD. Penawaran tersebut telah mendapat pemberitahuan efektif pernyataan berdasarkan Surat Ketua Badan Pengawas Pasar Modal No S-3383/BL/2010 dan menjadi efektif setelah mendapat persetujuan dari Rapat Umum Pemegang Saham Perusahaan tanggal 19 April 2010. Periode perdagangan HMETD dari tanggal 3 Mei 2010 sampai 19 Mei 2010 dengan tanggal penjatahan saham pada tanggal 24 Mei 2010.

stockholders of the Company and/or pre-emptive rights holders who exercise their rights. The offering has received an effective notification statement based on the letter from the Chairman of Capital Market Supervisory No S3383/BL/2010 and become effective upon approval from Extraordinary General Meeting of Shareholders on April 19,2010. Trading period of Pre-emptive Right started on May 3, 2010 until May 19, 2010 with date of allotment on May 24, 2010.

Pada tanggal 30 September 2010 dan 2009 seluruh saham Perusahaan telah tercatat di Bursa Efek Indonesia.

As of September 30, 2010 and 2009, all of the Company's shares are listed on the Indonesian Stock Exchange.

1.c. Struktur Perusahaan Anak (1). Perusahaan mempunyai perusahaan anak yang dimiliki secara langsung sebagai berikut:

1.c. Subsidiary Structure (1). The Company has direct ownership over the following subsidiaries:

Anak Perusahaan / Subsidiaries

Domisili/ Domicile

PT Margayu Vatri Chantiqa PT Ayunda Prima Mitra

Jakarta

PT Link Net

Jakarta

PT First Media Production

Jakarta

PT First Media News

Jakarta

PT First Media Television

Jakarta

Jakarta

Bidang Usaha/ Operations

Perdagangan/ Trading Perdagangan/ Trading Penyedia Jasa Internet/Internet Service Provider Perfilman dan Perekaman Video/ Film and Video Recording Perfilman dan Perekaman Video/ Film and Video Recording Penyiaran Berlangganan/ Subscription Broadcasting

Persentase Tahun Operasi Pemilikan/Percentage of Komersial/ Ownership Start of Commercial Operations 30 Sep 30 Sep 2010 2009 % % 100.00

100.00

100.00

100.00

100.00

100.00

Belum Beroperasi/ Non Operating Belum Beroperasi/ Non Operating 2000

99.00

99.00

100.00

100.00

(2). Berdasarkan persetujuan Rapat Umum Pemegang Saham Luar Biasa Perusahaan tanggal 13 Juni 2008, pada tanggal 24 Juni 2008, Perusahaan membeli 128.700.000 lembar saham (nominal Rp 500 per saham) PT Link Net dari PT Lippo On Line, pihak hubungan istimewa, dengan harga pengalihan saham sebesar Rp 1.000. Pada tanggal yang sama,

Jumlah Aset/ Total Assets 30 Sep 2010 Rp

30 Sep 2009 Rp

96.548.015

95.665.015

6.108.131

14.130.431.778

126.955.198.777

8.698.143.177

2009

3.011.367.229

1.725.470.928

100.00

Belum Beroperasi/ Non Operating

9.272.823.234

7.148.301.396

100.00

Belum Beroperasi/ Non Operating

2.693.560.399

2.512.492.760

(2). Based on approval from the Company’s Extraordinary General Meeting of Stokholders dated June 13, 2008, on June 24, 2008, the Company purchased 128,700,000 shares (par value of Rp 500 per share) of PT Link Net from PT Lippo On Line, a related party, with the transfer price amounting to Rp 1,000. On the same date, PT Margayu Vatri Chantiqa, a subsidiary, purchased 1,300,000 shares



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PT Margayu Vatri Chantiqa, perusahaan anak, membeli 1.300.000 lembar saham (nominal Rp 500 per saham) PT Link Net dari PT Lippo On Line, pihak hubungan istimewa, dengan harga pengalihan saham sebesar Rp 500. Persentase kepemilikan efektif Perusahaan atas PT Link Net adalah 100%. PT Link Net mulai beroperasi pada tahun 2000. Transaksi-transaksi akuisisi tersebut dicatat sesuai dengan PSAK No. 38 (Revisi 2004) tentang "Akuntansi Restrukturisasi Entitas Sepengendali". Oleh karena itu, selisih bersih antara harga pengalihan saham dengan bagian proporsional saham atas nilai buku aset bersih perusahaan anak yang diakuisisi sebesar Rp 8.590.762.453 disajikan sebagai "Selisih Nilai Transaksi Restrukturisasi Entitas Sepengendali" sebagai bagian dari Ekuitas pada neraca konsolidasian. Transaksi tersebut telah memenuhi peraturan Bapepam-LK No. IX.E.1. Berdasarkan akta no. 26 tanggal 30 Juni 2010 yang dibuat dihadapan Andi Gustar, SH Notaris di Jakarta, pemegang saham PT Link Net setuju untuk meningkatkan modal PT Link Net sebesar Rp 66.000.000.000, melalui konversi hutang PT Link Net (anak perusahaan) kepada Perusahaan, pemegang saham, masing-masing sebesar Rp 13.500.000.000 dan Rp 46.000.000.000 (jumlah seluruhnya sebesar Rp 59.500.000.000) menjadi saham dan melalui setoran tunai dari Perusahaan sebesar Rp 6.500.000.000. Pada tanggal 30 Juni 2010, Perusahaan, pemegang saham, telah melakukan penyetoran tambahan modal sebesar Rp 6.500.000.000 ke rekening anak Perusahaan. Pemegang saham PT Link Net juga menyetujui peningkatan modal dasar PT Link Net dari Rp 200.000.000.000 menjadi Rp 260.000.000.000 dan penurunan nilai nominal saham Rp 500 per saham menjadi Rp 100 per saham. Pada tanggal 30 Juni 2010, seluruh penambahan modal disetor tersebut diatas dicatat sebagai Tambahan Modal Disetor.

(par value of Rp 500 per share) of PT Link Net from PT Lippo On Line, a related party, with the transfer price amounting to Rp 500. The Company’s effective ownership on PT Link Net is 100%. PT Link Net began operating in 2000. The acquisition transactions are recorded in accordance with SFAS No. 38 (Revised 2004), “Accounting of Restructuring Transactions of Entities under Common Control”. Therefore, net difference between the share’s transfer price and the proporsional share of the acquired subsiadiary’s net book value amounting to Rp 8,590,762,453 presented as “Difference in Value of Restructuring Transactions of Entities Under Common Control” as part of Equity in the consolidated balance sheet. These transactions had complied with regulation of Bapepam-LK No. IX.E.1.

Based on the deed no 26 dated June 30, 2010 of Andi Gustar,SH, notary in Jakarta, shareholders of PT Link Net agreed to increase the share of PT Link Net amounting to Rp 66 billion through the conversion of PT Link Net (subsidiary) payable to the Company, each amounting Rp 13,5 billion and Rp 46 billion (total amounting of Rp 59,5 billion), to become share and also an additional subscription shares of Rp 6,5 billion. On June 30, 2010, the Company, as shareholder had deposit additional capital of Rp 6,5 billion to the subsidiary’s account.

The shareholders of PT Link Net also agreed to increase the authorized capital of PT Link Net from Rp 200 billion to Rp 260 billion and to decrease the subsidiary’s stock par value from Rp 500 to Rp 100 per stock. On June 30, 2010, the additional paid-up capital as mentioned above is recorded as Additional Paid-Up Capital.

(3). Berdasarkan akta pendirian No. 6 tanggal 4 Juli 2008 oleh Notaris Selam Bastomi, SH, M.Kn, notaris di Jakarta, didirikan PT First Media Production (FMP). Perusahaan telah menyetorkan modal sebesar Rp 2.475.000.000 untuk kepemilikan sejumlah 4.950.000 lembar saham (nominal Rp 500 per saham). FMP telah beroperasi secara komersial pada tahun 2009.

(3). Based on deed of establishment No. 6 dated July 4, 2008 by Notary Selam Bastomi, SH, M.Kn, notary in Jakarta, PT First Media Production (FMP) was established. The Company has paid in capital amounting to Rp 2,475,000,000 for the ownership of 4,950,000 shares (par value of Rp 500 per share). FMP started its operation commercially in 2009.

(4). Berdasarkan akta pendirian No. 5 tanggal 5 Agustus 2008 oleh Notaris Charles Hermawan, SH, notaris di Tangerang, didirikan PT First Media News (FMN).

(4). Based on deed of establishment No. 5 dated August 5, 2008 by Notary Charles Hermawan, SH, notary in Tangerang, PT First Media News (FMN) was established.



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Perusahaan dan PT Margayu Vatri Chantiqa, perusahaan anak, telah menyetorkan modal masingmasing sebesarRp 2.475.000.000 dan Rp 25.000.000 untuk kepemilikan sejumlah 2.475 dan 25 lembar saham (nominal Rp 1.000.000 per saham). FMN belum beroperasi secara komersial.

The Company and PT Margayu Vatri Chantiqa, a subsidiary, has paid in capital amounting to Rp 2,475,000,000 and Rp 25,000,000 for the ownership of 2,475 and 25 shares (par value of Rp 1,000,000 per share), respectively. FMN has not started its operation commercially.

(5). Berdasarkan Pernyataan Keputusan Rapat Umum Pemegang Saham PT Ayunda Prima Mitra yang diaktakan dalam akta No. 80 tanggal 16 Agustus 2008 oleh notaris Sri Hidianingsih A.S., SH, notaris di Jakarta, PT Ayunda Prima Mitra, perusahaan anak, meningkatkan modal dasar dari Rp 20.000.000 menjadi Rp 140.000.000 dan meningkatkan modal disetor dari Rp 5.000.000 menjadi Rp 35.000.000. Peningkatan modal disetor tersebut berasal dari Perusahaan dan PT Margayu Vatri Chantiqa, perusahaan anak, masing-masing sebesar Rp 29.700.000 dan Rp 300.000.

(5). Based on Statement of Shareholder Meeting of PT Ayunda Prima Mitra, which notarialized by deed No. 80 dated August 16, 2008 by notary Sri Hidianingsih A.S., SH, notary in Jakarta, PT Ayunda Prima Mitra, a subsidiary, increase authorized capital from Rp 20,000,000 to Rp 140,000,000 and paid in capital from Rp 5,000,000 to Rp 35,000,000. The increase of paid in capital resulted from the Company and PT Margayu Vatri Chantiqa, a subsidiary, amounting Rp 29,700,000 and Rp 300,000, respectively.

(6). Berdasarkan Pernyataan Keputusan Rapat Umum Pemegang Saham PT Margayu Vatri Chantiqa yang diaktakan dalam akta No. 19 tanggal 31 Oktober 2008 oleh notaris Charles Hermawan, SH, notaris di Tangerang, PT Margayu Vatri Chantiqa, perusahaan anak, meningkatkan modal dasar dari Rp 20.000.000 menjadi Rp 50.000.000 dan meningkatkan modal disetor dari Rp 5.000.000 menjadi Rp 12.500.000. Peningkatan modal disetor tersebut berasal dari Perusahaan dan PT Ayunda Prima Mitra, perusahaan anak, masing-masing sebesar Rp 7.425.000 dan Rp 75.000.

(6). Based on Statement of Shareholder Meeting of PT Margayu Vatri Chantiqa which notarialized by deed No. 19 dated October 31, 2008 by notary Charles Hermawan, SH, notary in Tangerang, PT Margayu Vatri Chantiqa, a subsidiary, increase authorized capital from Rp 20,000,000 to Rp 50,000,000 and paid in capital from Rp 5,000,000 to Rp 12,500,000. The increase of paid in capital resulted from the Company and PT Ayunda Prima Mitra, a subsidiary, amounting Rp 7,425,000 and Rp 75,000, respectively.

Berdasarkan persetujuan pemegang saham sebagaimana tercantum dalam akta no. 3 tanggal 6 Juli 2010 yang dibuat oleh notaris Andi Gustar, SH, notaris di Jakarta. PT First Media Production, perusahaan anak, membeli 125 lembar saham (nominal Rp 1.000 per saham) PT Margayu Vatri Chantiqa dari PT Ayunda Prima Mitra, perusahaan anak, dengan harga pengalihan sebesar Rp 125.000.

Based on shareholders’ approval as stipulated under deed no. 3 dated July 6, 2010 by Andi Gustar, SH, notary in Jakarta. PT First Media Production, a subsidiary, purchased 125 shares (par value of Rp 1,000 per share) of PT Margayu Vatri Chantiqa from PT Ayunda Prima Mitra, a subsidiary, with transfer price amounting to Rp 125,000.

(7). Berdasarkan akta pendirian No. 3 tanggal 9 Oktober 2008 oleh Notaris Charles Hermawan, SH, notaris di Tangerang, didirikan PT First Media Television (FMTV). Perusahaan mempunyai kepemilikan 10.000 lembar saham (nominal Rp 250.000 per saham) atau sebesar Rp 2.500.000.000. FMTV belum beroperasi secara komersial.

(7). Based on deed of establishment No. 3 dated October 9, 2008 by Notary Charles Hermawan, SH, notary in Tangerang, PT First Media Television (FMTV) was established. The Company own 10,000 shares (par value of Rp 250,000 per share) or amounting to Rp 2,500,000,000. FMTV has not started its operation commercially.

1.d. Dewan Komisaris, Direksi dan Karyawan Per 30 September 2010, susunan anggota Dewan Komisaris dan Direksi Perusahaan berdasarkan

1.d. Board of Commissioners, Directors and Employees As of September 30, 2010, the members of the Company’s Board of Commissioners and Directors based on the


10






Rapat Umum Pemegang Saham yang diselenggarakan pada tanggal 14 Mei 2010, yang diaktakan dalam akta notaris Lindasari Bachroem SH, No. 30 adalah sebagai berikut: Dewan Komisaris Presiden Komisaris Komisaris Independen Komisaris Independen Komisaris Independen Komisaris Independen Komisaris Independen Komisaris Direksi Presiden Direktur Direktur Direktur Direktur Direktur Direktur

Annual Stockholders’ Meeting held on May 14, 2010, as covered by notarial deed No. 30 of Lindasari Bachroem SH are as follows:

Board of Commissioners President Commissioner Independent Commissioner Independent Commissioner Independent Commissioner Independent Commissioner Independent Commissioner Commissioner

Peter Frans Gontha Dr. Rizal Ramli Prof. Dr. Didik J. Rachbini Jonathan Limbong Parapak Ferliana Suminto Dr. Yen Hsu Dr. Cheng Cheng Wen

Directors President Director Director Director Director Director Director

Hengkie Liwanto Harianda Noerlan Dicky Setiadi Moechtar Dewi Dharma Yanti Victor Indajang Irwan Djaja

Pada tanggal 30 September 2010, susunan komite audit adalah sebagai berikut: Ketua Anggota Anggota

As of September 30,2010, the members of the audit committee are as follows:

Jonathan Limbong Parapak Isnandar Rachmat Ali Hikmat Kartadjoemena

Per 30 September 2009, susunan anggota Dewan Komisaris dan Direksi Perusahaan berdasarkan Rapat Umum Pemegang Saham Tahunan yang diselenggarakan pada tanggal 24 April 2009, yang diaktakan dalam akta notaris Lindasari Bachroem SH, No. 19 adalah sebagai berikut: Dewan Komisaris Presiden Komisaris Komisaris Independen Komisaris Independen Komisaris Independen Komisaris Independen Komisaris Independen Komisaris Direksi Presiden Direktur Direktur Direktur Direktur Direktur

Chairman Member Member

As of September 30, 2009, the members of the Company's Boards of Commissioners and Directors based on the Annual Stockholders’ General Meeting held on April 24, 2009, as covered by notarial deed No. 19 of Lindasari Bachroem SH, are as follows:

Board of Commissioners President Commissioner Independent Commissioner Independent Commissioner Independent Commissioner Independent Commissioner Independent Commissioner Commissioner

Peter Frans Gontha Dr. Rizal Ramli Prof. Dr. Didik J. Rachbini Jonathan Limbong Parapak Ferliana Suminto Drs. Irman Gusman, MBA Dr. Cheng Cheng Wen Akan ditentukan kemudian/Will be determined later

Dr. Yen Hsu Lin, Ming Chih (Vincent Lin) Irwan Djaja Harianda Noerlan


11

Directors President Director Director Director Director Director




Untuk Periode 9 (Sembilan) Bulan yang Berakhir pada 30 September 2010 dan 2009 (Tidak Diaudit) (Dalam Rupiah Penuh) Direktur Direktur Pada tanggal 30 September 2009, susunan komite audit adalah sebagai berikut: Ketua Anggota Anggota


Dicky Setiadi Moechtar Shen, Ching Wen (Wendell Shen)

Jonathan Limbong Parapak Isnandar Rachmat Ali Hikmat Kartadjoemena

Director Director As of September 30,2009, the members of the audit committee are as follows: Chairmanr Member Member

Pada tanggal 30 September 2010 dan 2009, corporate secretary Perusahaan adalah Harianda Noerlan.

As of September 30, 2010 and 2009, the Company’s corporate secretary is Harianda Noerlan.

Pada tanggal 30 September 2010 dan 2009, Perusahaan mempunyai masing-masing sekitar 597 dan 464 karyawan tetap (tidak diaudit).

As of September 30, 2010 and 2009, the Company has approximately 597 and 464 permanent employees, respectively (unaudited).

2. Ikhtisar Kebijakan Akuntansi

2.

Summary of Accounting Policies

2.a. Dasar Pengukuran dan Penyusunan Laporan Keuangan Konsolidasian Laporan keuangan konsolidasian disusun sesuai dengan prinsip dan praktik akuntansi yang berlaku umum di Indonesia yang meliputi Pernyataan Standar Akuntansi Keuangan (PSAK) yang dikeluarkan oleh Ikatan Akuntan Indonesia (IAI), dan Peraturan Badan Pengawas Pasar Modal (BAPEPAM) No. VIII.G.7 tentang pedoman penyajian laporan keuangan emiten atau perusahaan publik bagii industri telekomunikasi.

2.a.

Basis Measurement and Preparation of Consolidated Financial Statements These consolidated financial statements are prepared in conformity with accounting principles generally accepted in Indonesia, that are covered by Statements of Financial Accounting Standard (SFAS) issued by the Indonesian Institute of Accountants (IAI), and the Decree of the Capital Market Supervisory Agency (BAPEPAM) No. VIII.G.7 regarding the guidelines for financial statement presentation for listed company in telecommunication industry.

Laporan keuangan konsolidasian disusun dengan dasar akrual, kecuali untuk laporan arus kas, dan menggunakan konsep biaya perolehan (historical cost).

The consolidated financial statements are prepared based on accrual basis, except for statements of cash flows, and using the historical cost method of accounting.

Laporan arus kas konsolidasian disusun dengan menggunakan metode langsung (direct method) dengan mengelompokan arus kas ke dalam aktivitas operasi, investasi dan pendanaan.

The consolidated statements of cash flows are prepared using direct method by classifying cash flows into operating, investing and financing activities.

Mata uang pelaporan yang digunakan dalam penyusunan laporan keuangan konsolidasian ini adalah Rupiah.

The reporting currency used in the preparation of these consolidated financial statements is Indonesian Rupiah.

2.b. Prinsip-prinsip Konsolidasi Laporan keuangan konsolidasian meliputi akun-akun dari Perusahaan dan perusahaan anak sebagaimana yang diuraikan dalam Catatan 1.c. Penyajian laporan keuangan konsolidasian dilakukan berdasarkan konsep satuan usaha (entity concept). Akunakun, transaksi dan laba yang signifikan yang saling berhubungan diantara perusahaan yang dikonsolidasikan dieliminasi untuk mencerminkan posisi keuangan dan hasil usaha sebagai satu kesatuan.

2.b. Consolidation Principles The consolidated financial statements included accounts of the Company and subsidiaries as described in Note 1.c. The presentation of consolidated financial statements are carried out based on entity concept. All significant interrelated accounts, transactions and profit among consolidated companies have been eliminated to reflect the financial position and result of operations as a single entity.


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For the Period of 9 (Nine) Months Ended September 30, 2010 and 2009 (Unaudited) (In Full Rupiah) 2.c.

2.c. Selisih Nilai Transaksi Restrukturisasi Entitas Sepengendali Transaksi restrukturisasi antara entitas sepengendali berupa pengalihan aset, kewajiban, saham, atau instrumen kepemilikan lainnya yang dilakukan dalam rangka reorganisasi entitas-entitas yang berada dalam suatu kelompok usaha yang sama tidak mengakibatkan perubahan substansi ekonomi kepemilikan, dan oleh karena itu, transaksi tersebut tidak menimbulkan laba atau rugi bagi seluruh kelompok perusahaan maupun bagi entitas individu dalam kelompok perusahaan tersebut. Berdasarkan PSAK No. 38 (Revisi 2004), "Akuntansi Restrukturisasi Entitas Sepengendali", transaksi tersebut harus dicatat sesuai dengan nilai buku seperti penggabungan usaha berdasarkan metode penyatuan kepemilikan (pooling-of-interests method).

Difference in Value of Restructuring Transactions of Entities under Common Control Restructuring transaction between entities under common control in the form of transfer of assets, liabilities, shares or other ownership instruments conducted within the framework of reorganization of entities under the same business segment, do not constitute a change of ownership within the meaning of economic substance, so that such transactions would not result in a gain or loss to the company group or to the individual entity within the same group. In accordance with SFAS No. 38 (Revised 2004), "Accounting of Restructuring Transactions of Entities under Common Control", the transactions must be recorded at book values similar to a business combination using the pooling-of-interests method.

Dalam menerapkan metode penyatuan kepemilikan, unsur-unsur laporan keuangan dari entitas-entitas yang direstrukturisasi untuk tahun terjadinya restrukturisasi tersebut dan untuk tahun perbandingan yang disajikan, harus disajikan sedemikian rupa seolah-olah perusahaan tersebut telah bergabung sejak permulaan tahun perbandingan yang disajikan tersebut. Selisih antara harga pengalihan dengan nilai buku dalam transaksi restrukturisasi entitas sepengendali dicatat dalam akun "Selisih Nilai Transaksi Restrukturisasi Entitas Sepengendali" yang disjaikan sebagai bagian dari ekuitas pada neraca konsolidasian.

In applying the pooling-of-interests method, the financial statement items of the restructured entities for the year in which the restructuring occurs and for any comparative period presented, should be presented in such a manner as if they had been combined from the beginning of the year presented. Any difference between the transfer price and book value of each restructuring transaction between entities under common control is recorded in the account "Difference in Value of Restructuring Transactions of Entities under Common Control" which is presented as part of Equity in the consolidated balance sheets.

Jika substansi sepengendali antara entitas yang pernah melakukan transaksi restrukturisasi entitas sepengendali tersebut telah hilang atau terjadi pelepasan aset, kewajiban, saham, atau instrumen kepemilikan lainnya yang mendasari terjadinya selisih nilai transaksi restrukrisasi entitas sepengendali kepada pihak lain yang tidak sepengendali, maka saldo akun selisih nilai transaksi restrukrisasi entitas sepengendali dicatat sebagai laba atau rugi yang direalisasi pada laporan laba rugi konsolidasian.

If the substance of common control among entities who have been involved in the restructuring transactions of entities under common control has been lost or the underlying assets, liabilities, shares or other ownership instruments which previously resulted in the difference in value of restructuring transactions of entities under common control account is disposed to another party not under common control, the difference in restructuring transactions of entities under common control is recognized as a realized gain or loss in the consolidated statements of income.

2.d. Transaksi dan Saldo dalam Mata Uang Asing Transaksi dalam mata uang asing dicatat berdasarkan kurs yang berlaku pada saat transaksi dilakukan.

2.d. Foreign Currency Transactions and Balances Transactions involving foreign currencies are recorded at the rates of exchange prevailing at the time the transactions are made.

Pada tanggal neraca, aset dan kewajiban moneter dalam mata uang asing dilaporkan ke dalam Rupiah menggunakan kurs yang diumumkan oleh Bank Indonesia yang berlaku pada tanggal tersebut (per 30 September 2010 dan 2009, kurs tukar yang digunakan adalah USD1 = Rp 8.924, USD1 = Rp 9.681). Laba atau rugi selisih kurs dibebankan pada laporan laba rugi tahun berjalan kecuali yang diperbolehkan untuk dikapitalisasi.

On balance sheets date, monetary assets and liabilities denominated in foreign currencies are reported in Rupiah using the rate of exchange prevailing at such date as published by Bank Indonesia (September 30, 2010 and 2009 are USD1 = Rp 8,924 and USD 1 = Rp 9,681). The resulting gains or losses are credited or charged to the current statement of income except those which allowed to be capitalized.


13






2.e. Transaksi dengan Pihak-pihak Hubungan Istimewa Perusahaan dan perusahaan anak melakukan transaksi dengan pihak-pihak yang mempunyai hubungan istimewa seperti yang didefinisikan dalam PSAK No. 7, "Pengungkapan Pihak-pihak yang Mempunyai Hubungan Istimewa".

2.e. Transaction with Related Parties The Company and subsidiaries have transactions with parties which are related to them as defined under the SFAS No. 7, "Related Party Disclosures ".

Pihak-pihak yang mempunyai hubungan istimewa adalah: (1) Perusahaan yang melalui satu atau lebih perantara (intermediaries), mengendalikan, atau dikendalikan oleh, atau berada di bawah pengendalian bersama, dengan perusahaan pelapor (termasuk holding companies, subsidiaries dan fellow subsidiaries); (2) Perusahaan asosiasi (associated subsidiaries); (3) Perorangan yang memiliki, baik secara langsung maupun tidak langsung, suatu kepentingan hak suara di perusahaan pelapor yang berpengaruh secara signifikan, dan anggota keluarga dekat dari perorangan tersebut (yang dimaksudkan dengan anggota keluarga dekat adalah mereka yang dapat diharapkan mempengaruhi atau dipengaruhi perorangan tersebut dalam transaksinya dengan perusahaan pelapor); (4) Karyawan kunci, yaitu orang-orang yang mempunyai wewenang dan tanggung jawab untuk merencanakan, memimpin dan mengendalikan kegiatan perusahaan pelapor yang meliputi anggota dewan komisaris, direksi dan manajer dari perusahaan serta anggota keluarga dekat orang-orang tersebut; (5) Perusahaan di mana suatu kepentingan substansial dalam hak suara dimiliki baik secara langsung maupun tidak langsung oleh setiap orang yang diuraikan dalam c atau d, atau setiap orang tersebut mempunyai pengaruh signifikan atas perusahaan tersebut. Ini mencakup perusahaan –perusahaan yang dimiliki anggota dewan komisaris, direksi atau pemegang saham utama dari perusahaan pelapor dan perusahaan-perusahaan yang memiliki anggota manajemen kunci yang sama dengan perusahaan pelapor.

Related parties are: (1) The Company, through one or more intermediaries, controlling, or controlled by, or under common control with the reporting company (include holding companies, subsidiaries and fellow subsidiaries); (2) Associated company; (3) An individual who own, either directly or indirectly, a voting rights in the reporting company that influence significantly, and close family members (person who intended to close family members are those who can be expected to affect or be affected by such individuals in transactions with the reporting company);

(4) Key management, persons having authority and responsibility for planning, directing and controlling the activities of the reporting company, include members of board of commissioners, directors and managers of the Company and close relatives of these people; (5) The company which a substantial interest in voting rights are owned either directly or indirectly, by any person described in c or d, or every person that has significant influence over these companies. This includes commissioners, directors or major shareholders of the reporting company and companies that have a member of key management in common with the reporting company.

Seluruh transaksi signifikan dengan pihak-pihak yang mempunyai hubungan istimewa, baik yang dilakukan maupun tidak dilakukan dengan persyaratan dan kondisi yang sama dengan pihak ketiga, diungkapkan dalam catatan atas laporan keuangan konsolidasian.

All significant transactions with related parties, whether or not conducted at terms and conditions similar to those with third parties, are disclosed in the notes to the consolidated financial statements.

2.f. Setara Kas Setara kas terdiri dari deposito jangka pendek dengan jangka waktu jatuh tempo 3 (tiga) bulan atau kurang sejak tanggal penempatannya, tidak digunakan sebagai jaminan dan tidak dibatasi penggunaannya.

2.f. Cash Equivalents Cash equivalents consist of short-term time deposits with maturities of 3 (three) months or less since the time of their placement, not pledged as collateral and unrestricted.


14






2.g. Investasi Saham Investasi saham dimana Perusahaan dan perusahaan anak mempunyai pemilikan paling sedikit 20% tetapi tidak lebih dari 50% dicatat dengan menggunakan metode ekuitas. Berdasarkan metode ini, investasi awal dinyatakan sebesar harga perolehan, disesuaikan dengan bagian Perusahaan dan perusahaan anak atas laba (rugi) bersih perusahaan asosiasi setelah tanggal akuisisi, dividen yang diterima dan amortisasi dengan menggunakan metode garis lurus (straight-line method) selama 20 (dua puluh) tahun atas selisih antara harga perolehan investasi dan bagian atas aset bersih perusahaan asosiasi pada tanggal akuisisi. Investasi di mana Perusahaan mempunyai penyertaan dengan pemilikan kurang dari 20% dan harga pasar tidak tersedia dinyatakan sebesar harga perolehan. Perusahaan menelaah dan mengevaluasi nilai tercatat atas selisih antara harga perolehan investasi dan bagian atas aset bersih perusahaan asosiasi secara berkala, dengan mempertimbangkan hasil usaha tahun berjalan dan prospek di masa yang akan datang dari perusahaan asosiasi tersebut.

2.g. Investments in Shares of Stock Investments in shares of stock wherein the Company and subsidiaries have an ownership interest of at least 20% but not exceeding 50% are accounted for under the equity method. Under this method, the investments are initially stated at cost, adjusted for the Company's and subsidiaries' share in the net earnings (losses) of the associated companies after acquisition, dividends received and straight-line amortization over a 20 (twenty) years period of the difference between the cost of such investment and the investor's proportionate share in the underlying net assets of the investee at the date of acquisition. Investment wherein the Company and subsidiaries have an ownership interest of less than 20% and its market price is not readily determinable are stated at cost. The Company reviews and evaluates periodically the carrying values of goodwill, taking into consideration current results and future prospects of the related associate.

2.h. Penyisihan Piutang Ragu-ragu Penyisihan piutang ragu-ragu ditentukan berdasarkan penelaahan terhadap kemungkinan tertagihnya akun piutang masing-masing pelanggan pada akhir tahun.

2.h. Allowance for Doubtful Accounts Allowance for doubtful accounts is determined based on a review of the status of each debtors at the end of the year.

2.i. Biaya Dibayar di Muka Biaya dibayar di muka diamortisasi selama masa manfaatnya dengan menggunakan metode garis lurus.

2.i. Prepaid Expenses Prepaid expenses are amortized over the periods benefitted by using the straight-line method.

2.j. Aset Tetap Aset tetap dipertanggungjawabkan dengan menggunakan model biaya yang dinyatakan sebesar biaya perolehan dikurangi akumulasi penyusutan dan akumulasi rugi penurunan nilai. Hak atas tanah tidak disusutkan dan disajikan sebesar biaya perolehan. Penyusutan dihitung dengan menggunakan metode garis lurus berdasarkan taksiran masa manfaat ekonomis aset tetap sebagai berikut:

2.j. Property and Equipment Property and equipment is accounted for by using cost model which stated at cost less their accumulated depreciation and decline in value. Landrights are not depreciated and presented at acquisition cost. The depreciation were calculated using the straight line method over the estimated useful lives of the assets as follows:

Tahun/ Years Bangunan 15 Jaringan Distribusi (Jaringan) 15 Renovasi 4 Head-end Electronic 4 - 7, 5 Peralatan Kantor, Perabotan, Kabel Modem, Converter, Decoder dan Kendaraan 4-5 Set Top Box 4 Peralatan untuk Saluran Olimpiade 4 Tanah dinyatakan berdasarkan biaya perolehan dan tidak disusutkan.


15

Building Distribution Network (the Network) Leasehold Improvements Head-end Electronics Office Equipment, Furniture and Fixtures, Cable Modem, Converters, Decoders, and Vehicles Set Top Box Equipment for Olympic Channel Land is carried at cost and not depreciated.






Beban pemeliharaan dan perbaikan dibebankan langsung ke laporan laba rugi pada saat terjadinya. Sedangkan biayabiaya yang sifatnya meningkatkan masa manfaat aset secara signifikan, dikapitalisasi. Apabila suatu aset tetap tidak digunakan lagi atau dijual, biaya perolehan dan akumulasi penyusutan aset tetap tersebut dikeluarkan dari kelompok aset tetap, dan laba atau rugi yang terjadi dilaporkan dalam laporan laba rugi tahun bersangkutan.

The cost of maintenance and repairs is directly charged to statement of income as incurred. While significant renewal and betterments which increase the property and equipment condition are capitalized. When property and equipment are retired or otherwise disposed of, their cost and related accumulated depreciation are removed from the account and any resulting gain or loss is reflected in the statement of income for the year.

Pada tanggal neraca nilai aset tetap direview terhadap kemungkinan penurunan nilai, apakah terdapat peristiwa atau kondisi yang menunjukkan bahwa nilai tercatat aset tetap tidak dapat dipulihkan. Penyisihan atas penurunan nilai aset tetap diakui pada periode terjadinya penurunan nilai.

At the balance sheet date the carrying value of property and equipment is reviewed for impairment whenever events and circumstances that the carrying value of property and equipment may not be recoverable. The provision for impairment of value is recognized in the period it occurred.

2.k. Aset dalam Penyelesaian Aset dalam penyelesaian terdiri dari bagian dari jaringan dan pekerjaan proyek yang masih dalam penyelesaian. Pengeluaran yang berhubungan dengan konstruksi, termasuk bunga, selisih kurs atas pinjaman dalam valuta asing dan beban pendanaan lainnya yang berhubungan dengan pinjaman yang digunakan untuk keperluan konstruksi, dikapitalisasi sebagai bagian aset dalam penyelesaian, sesuai dengan PSAK No.26 (Revisi), “Biaya Pinjaman”.

2.k. Construction in Progress Construction in progress consists of portions of the network and project which still under construction. Expenditures relating to the construction, including interest, foreign exchange differences on borrowing and other financing charges incurred on loans obtained to finance the construction, are capitalized as part of construction in progress, in accordance with the revised SFAS No.26 (Revised), “Borrowing Costs”.

2.l. Periode Prematur Periode prematur adalah periode dimana jaringan distribusi televisi sedang dalam tahap pembangunan dan pelayanan. Periode prematur dimulai ketika pendapatan dari pelanggan pertama diterima dan berakhir ketika pembangunan jaringan distribusi selesai, termasuk waktu yang cukup untuk menyiapkan instalasi drops pelanggan beserta perangkat keras yang berhubungan. Perusahaan menetapkan jangka waktu periode prematur selama 3 tahun.

2.l. Prematurity Period The prematurity period defined as the period in which the cable television distribution network is partially under construction and partially in service. Prematurity period begins when the first subscriber’s revenue is earned and ends when the construction of the distribution network is completed, including a reasonable time to provide for installation of subscriber drops and related hardware. Management has determined the length of the prematurity period to be 3 years.

2.m. Sewa Efektif tanggal 1 Januari 2008, Perusahaan menerapkan PSAK 30 (Revisi 2007), “Sewa” yang menggantikan PSAK 30 (1990), “Akuntansi Sewa Guna Usaha”. Menurut PSAK revisi ini, klasifikasi sewa didasarkan atas sejauh mana resiko dan manfaat yang terkait dengan kepemilikan aset sewaan berada di tangan lessor atau lessee.

2.m. Leases Effective January 1, 2008, the Companies have applied SFAS 30 (Revised 2007), “Leases”, which supersedes SFAS 30 (1990) “Accounting for Leases”. Under this revised SFAS, a lease that transfers substantially all the risks and rewards incidental to ownership is classified as finance lease.

Suatu sewa yang tidak mengalihkan secara substansial seluruh risiko dan manfaat yang terkait dengan kepemilikan aset diklasifikasikan sebagai sewa operasi. Pembayaran sewa dalam sewa operasi diakui sebagai beban dalam laporan laba rugi dengan dasar garis lurus (straight-line basis) selama masa sewa.

Leases which do not transfer substantially all the risks and rewards incidental to ownership are classified as operating leases. Operating lease payments are recognized as an expense on a straight-line basis over the lease term.


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2.n. Aset Tidak Berwujud Aset tidak berwujud meliputi biaya izin awal (up-front fee) Layanan Pita Nirkabel dan perangkat lunak komputer dan diamortisasi dengan menggunakan metode garis lurus masing-masing selama 10 (sepuluh) dan 4 (empat) tahun.

2.n. Intangible Assets Intangible assets represent up front-fee and computer software and amortized using the straight line method over the estimated useful life of 10 (ten) and 4 (four) years.

2.o. Diskonto Surat Promes Diskonto yang berasal dari penerbitan surat promes diamortisasi sesuai dengan periode jatuh tempo masingmasing surat promes dengan menggunakan metode garis lurus.

2.o. Discount on Promissory Notes Discount arising from the issuance of promissory notes is amortized over the period of the related notes using the straightline method.

2.p. Kewajiban Anjak Piutang Jumlah yang diterima dari pengalihan tagihan anjak piutang with recourse diakui sebagai kewajiban anjak piutang sebesar nilai piutang yang dialihkan. Selisih antara nilai piutang yang dialihkan dengan dana yang diterima ditambah retensi, jika ada diakui sebagai biaya bunga selama periode anjak piutang.

2.p. Factoring Payables The amount received from factoring receivables with recourse is recognized as factoring payable for the value of the receivables factored. The difference between the value of the receivables factored and the fund received plus retention, if any is recognized as interest expenses during the period of factoring.

2.q. Pengakuan Pendapatan dan Beban Jasa langganan untuk televisi kabel diakui sebagai pendapatan berdasarkan waktu penayangan untuk paket berlangganan atau pada saat penayangan program untuk program yang dibayar per tayangan (pay per view). Jasa langganan yang ditagih atau diterima di muka ditangguhkan (dilaporkan sebagai Pendapatan Jasa Langganan Ditangguhkan) dan diamortisasi sesuai dengan jangka waktu berlangganan. Pemasangan iklan diakui sebagai pendapatan pada saat iklan telah disiarkan. Jasa langganan untuk akses internet kabel kecepatan tinggi, diakui sebagai pendapatan berdasarkan pengaksesan internet. Pendapatan dari akses jaringan korporasi diakui pada saat pemasangan.

2.q. Revenue and Expenses Recognition Subscription fees for cable television programs are recognized as revenue on a time apportionment basis for subscription package or upon rendering of programs for pay per view programs. Subscription fees billed or received in advance are deferred (reported as Unearned Subscription Fees) and amortized based on the respective subscription terms. Insertions fees are recognized as revenues when the advertisement is placed in the channel. Subscriptions fees for high speed cable internet access are recognized as revenue upon rendering of the access to the internet. Revenues from corporate access network are recognized as income at the time the connections take place.

Beban diakui pada saat terjadinya.

Expenses are recognized when these are incurred.

2.r. Manfaat (Beban) Pajak Penghasilan Seluruh perbedaan temporer antara jumlah tercatat aset dan kewajiban dengan dasar pengenaan pajaknya diakui sebagai pajak tangguhan dengan metode kewajiban (liability). Pajak tangguhan dihitung dengan tarif pajak yang berlaku saat ini.

2.r. Income Tax Benefit (Expense) All temporary differences arising between the tax bases of assets and liabilities and their carrying value are recognized as deferred tax using liability method. Currently enacted tax rates are used to determine deferred income tax.

Saldo rugi fiskal yang dapat dikompensasi diakui sebagai aset pajak tangguhan apabila besar kemungkinan bahwa jumlah laba fiskal dimasa mendatang akan memadai untuk dikompensasi. Penilaian penyisihan dibentuk atas bagian aset pajak tangguhan yang diperkirakan tidak dapat direalisasi di masa yang akan datang. Koreksi terhadap kewajiban perpajakan diakui saat surat ketetapan pajak diterima atau jika mengajukan keberatan, pada saat keputusan atas keberatan tersebut telah ditetapkan.

Deferred tax assets relating to the carryforward of unused tax losses are recognized to the extent that it is probable that the future taxable profit will be available against which the unused tax losses can be utilized. A valuation allowance is provided for the portion of deferred tax assets which is not expected to be realized in the future. Amendment to tax obligations are recorded when an assessment is received or, if appealed against, when the result of the appeal is determined.


17






Pajak kini dihitung berdasarkan laba kena pajak, yakni laba yang telah disesuaikan dengan peraturan perpajakan yang berlaku.

Current tax is recognized based on taxable income for the year, which is commercial income adjusted in accordance with the current tax regulation.

2.s. Imbalan Kerja Imbalan kerja jangka pendek diakui sebesar jumlah tak terdiskonto ketika pekerja telah memberikan jasanya kepada perusahaan dalam suatu periode akuntansi.

2.s. Employee Benefits Short-term employee benefits are recognized at undiscounted amount when an employee has rendered service to the Company during an accounting period.

Imbalan pasca kerja diakui sebesar jumlah yang diukur dengan menggunakan dasar diskonto ketika pekerja telah memberikan jasanya kepada perusahaan dalam suatu periode akuntansi. Kewajiban dan beban diukur dengan menggunakan teknik aktuaria yang mencakup pula kewajiban konstruktif yang timbul dari praktik kebiasaan perusahaan. Dalam perhitungan kewajiban, imbalan harus didiskontokan dengan menggunakan metode projected unit credit.

Post-employment benefits are recognized at a discounted amount when an employee has rendered service to the Company during an accounting period. Liabilities and expenses are measured using actuarial techniques which include constructive obligation that arises from the Company’s informal practices. In calculating the liabilities, benefits should be discounted by using projected unit credit method.

Pesangon pemutusan kontrak kerja diakui jika, dan hanya jika, perusahaan berkomitmen untuk: (a) memberhentikan seorang atau sekelompok pekerja sebelum tanggal pensiun normal; atau (b) menyediakan pesangon bagi pekerja yang menerima penawaran mengundurkan diri secara sukarela.

Termination benefits are recognized when, and only when, the Company is demonstrably committed to either: (a) terminate an employee or group of employees before the normal retirement date; or (b) provide termination benefits as a result of an offer made in order to encourage voluntary redundancy.

2.t. Biaya Emisi Saham Biaya emisi saham merupakan biaya yang berkaitan dengan penerbitan saham Perusahaan. Biaya ini mencakup fee dan komisi yang dibayarkan kepada penjamin emisi, lembaga dan profesi penunjang pasar modal, serta biaya pencetakan dokumen pernyataan pendaftaran, biaya pencatatan efek ekuitas di bursa efek, dan biaya promosi. Biaya-biaya yang berkaitan dengan pencatatan saham di bursa efek atas saham yang sudah beredar dan biaya yang berkaitan dengan dividen saham dan pemecahan saham tidak termasuk dalam pos biaya emisi efek ekuitas.

2.t. Stock Issuance Costs Stock issuance costs represent expenses which relate to the issuance of the stock of the Company. These expenses include fee and commission which paid to underwriter, stock exchanges’ supporting institutions and professionals, and registration document printing expenses, listing at stock exchange expense and promotion expenses. Expenses relate to the listing of outstanding stock at stock exchange and expenses relate to stock dividend and stock split does not include in this stock issuance cost.

Efektif tanggal 1 Januari 2000, sesuai dengan Surat Keputusan Badan Pengawas Pasar Modal (BAPEPAM) No. KEP-06/PM/2000 tanggal 13 Maret 2000, beban yang terjadi sehubungan dengan penawaran saham Perusahaan kepada masyarakat dibebankan ke “Tambahan Modal Disetor”.

Effective January 1, 2000, in accordance with the decree of the Capital Market Supervisory Agency (BAPEPAM) No. KEP06/PM/2000 dated March 13, 2000, the expenses incurred in regard with the shares offered by the Company to public will be recorded as “Paid In Capital”.


18






2.u. Laba per Saham Laba per saham (LPS) dihitung dengan membagi laba bersih dengan rata-rata tertimbang dari jumlah saham yang beredar pada tahun yang bersangkutan, sedangkan untuk LPS dilusian dihitung dengan membagi laba bersih dengan jumlah rata-rata tertimbang saham biasa dalam 1 (satu) periode pelaporan ditambah efek berpotensi saham biasa. Jumlah rata-rata tertimbang saham beredar masing-masing dalam tahun-tahun yang berakhir pada 30 September 2010 dan 2009 adalah 1.455.550.386 saham dan 829.474.000 saham.

2.u. Earning per Share Earning per share (EPS) is computed by dividing net income with the weighted average number of shares outstanding during the year, while for diluted EPS is computed by dividing net income with the weighted average number of shares outstanding during the year plus dilutive potential common stocks. The total weighted average number of shares outstanding for the years ended September 30, 2010 and 2009 are 1,455,550,386 shares and 829,474,000 shares, respectively.


19






3. Kas dan Setara Kas

3. Cash and Cash Equivalents 30 Sep 2010/ Sep 30, 2010 Rp

Kas Bank Pihak Ketiga Rupiah PT Bank CIMB Niaga Tbk PT Bank Cental Asia Tbk PT Bank Negara Indonesia (Persero) Tbk PT Bank Internasional Indonesia Tbk PT Bank Mandiri (Persero) Tbk PT Bank Sinarmas The Hongkong and Shanghai Banking Corporation Ltd PT Bank Mega Tbk Dolar AS PT Bank CIMB Niaga Tbk (2010: USD 1,057,047; 2009: USD 175,686) Raiffeisen Zentralbank Oesterreich (2010: USD 279,903; 2009: USD 8,538) The Hongkong and Shanghai Banking Corporation Ltd (2010: USD --; 2009: USD 4,461) PT Bank Mega Tbk (2010: USD 6,120; 2009: USD 3,350) Sub Jumlah Deposito Berjangka Pihak Ketiga Rupiah PT Bank Sinarmas PT Bank CIMB Niaga Tbk PT Bank Mega Tbk The Hongkong and Shanghai Banking Corporation Ltd Dolar AS The Hongkong and Shanghai Banking Corporation Corporation (2010: USD --; 2009: USD 1,784) PT Bank CIMB Niaga Tbk (2010: USD --; 2009: USD 18,420) Sub Jumlah Jumlah

30 Sep 2009/ Sep 30, 2009 Rp

215,231,480

226,027,784

21,468,694,308 207,033,067 260,713,680 615,678,715 567,198,898 1,011,517,500

5,729,482,366 160,304,414 238,858,156 48,454,648 300,460,373 45,893,824

-20,258,341

36,675,048 105,321,560

9,433,089,651

1,700,813,455

2,497,853,212

82,655,119

--

43,190,813

54,618,287 36,136,655,658

32,435,222 8,524,544,998

2,581,368,654 16,125,000,000 33,600,000

2,400,000,000 195,370,000 33,600,000

--

12,540,000

--

17,267,225

18,739,968,654 55,091,855,792

178,324,021 2,837,101,246 11,587,674,028


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Cash on Hand Cash in Banks Third Parties Rupiah PT Bank CIMB Niaga Tbk PT Bank Cental Asia Tbk PT Bank Negara Indonesia (Persero)Tbk PT Bank Internasional Indonesia Tbk PT Bank Mandiri (Persero) Tbk PT Bank Sinarmas The Hongkong and Shanghai Banking Corporation Ltd PT Bank Mega Tbk US Dollar PT Bank CIMB Niaga Tbk (2010: USD 1,057,047; 2009: USD 175,686) Raiffeisen Zentralbank Oesterreich (2010: USD 279,903; 2009: USD 8,538) The Hongkong and Shanghai Banking Corporation Ltd (2010: USD --; 2009: USD 4,461) PT Bank Mega Tbk (2010: USD 6,120; 2009: USD 3,350) Sub Total Time Deposits Third Parties Rupiah PT Bank Sinarmas PT Bank CIMB Niaga Tbk PT Bank Mega Tbk The Hongkong and Shanghai Banking Corporation Ltd US Dollar The Hongkong and Shanghai Banking Corporation (2010: USD --; 2009: USD 1,784) PT Bank CIMB Niaga Tbk (2010: USD --; 2009: USD 18,420) Sub Total Total






Tingkat Bunga Deposito Berjangka per Tahun:

Rupiah

Annual Interest Rate of Time Deposits: 30 September 2010

30 September 2009

7%

6%

4. Investasi Jangka Pendek

Rupiah

4. Short Term Investment

Perusahaan menempatkan dana berupa wesel tagih kepada PT Ciptadana Capital, pihak yang memiliki hubungan istimewa, sebesar Rp 60.000.000.000. Wesel tagih tersebut dapat diperpanjang bulanan dan memperoleh tingkat bunga tahunan sebesar 14%.

Company placed fund as notes receivable in PT Ciptadana Capital, related party, amounting to Rp 60,000,000,000.The notes can be rolled over on a monthly basis and carry a return of 14%.per annum.

90


21






5. Piutang Usaha

5. Accounts Receivable 30 Sep 2010/ Sep 30, 2010 Rp

Pihak Hubungan Istimewa (Catatan 26) Pihak Ketiga PT Metropolis Propertindo Utama PT Wira Pamungkas Pariwara PT Densu Indonesia PT Kaswall Dinamika Indonesia PT Mediate Indonesia PT Optima Media Dinamika PT Activate Media Nusantara PT Berkah Fajar Mentari PT Star Reachers Indonesia PT Inter Pariwara Global PT Adi Karya Visi PT Advatama Niaga PT Kompas Cyber Media PT Optik Tunggal Sempurna PT Bintang Mediathama Indonesia Lain-lain (masing-masing di bawah Rp 500.000.000) Jumlah Dikurangi: Penyisihan Piutang Ragu-ragu Bersih - Pihak Ketiga Bersih

30 Sep 2009/ Sep 30, 2009 Rp

14,392,401,733 (0.00)

19,595,398,658 --

14,541,100,000 3,653,321,980 1,791,460,488 873,333,872 813,893,285 797,500,000 706,550,000 544,045,000 530,220,000 522,500,000 ---279,719,355 194,304,000 70,142,505,434 95,390,453,414 (4,636,035,472) 90,754,417,942

14,547,150,000 2,532,371,240 713,565,561 -1,135,431,296 ---644,821,000 160,380,000 795,908,610 653,400,000 554,654,042 607,000,000 567,522,519 60,078,199,554 82,990,403,822 (8,495,491,656) 74,494,912,166

Third Parties PT Metropolis Propertindo Utama PT Wira Pamungkas Pariwara PT Densu Indonesia PT Kaswall Dinamika Indonesia PT Mediate Indonesia PT Optima Media Dinamika PT Activate Media Nusantara PT Berkah Fajar Mentari PT Star Reachers Indonesia PT Inter Pariwara Global PT Adi Karya Visi PT Advatama Niaga PT Kompas Cyber Media PT Optik Tunggal Sempurna PT Bintang Mediathama Indonesia Others (each below Rp 500,000,000) Total Less: Allowance for Doubtful Accounts Net - Third Party

105,146,819,675

94,090,310,824

Net

Rincian piutang usaha berdasarkan satuan mata uang adalah sebagai berikut: Rupiah Dolar AS (2010: USD 1,695,229; 2009: USD 1,570,631) Jumlah Dikurangi: Penyisihan Piutang Ragu-ragu Bersih

Related Parties (Note 26)

The details of accounts receivable based on its currency are as follows:

94,654,629,983

87,380,526,359

15,128,225,166 109,782,855,148 (4,636,035,472) 105,146,819,675

15,205,276,121 102,585,802,480 (8,495,491,656) 94,090,310,824

--

--


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Rupiah US Dolar (2010: USD 1,695,229 2009: USD 1,570,631) Total Less: Allowance for Doubtful Accounts Net






Analisa umur piutang usaha adalah sebagai berikut:

Kurang dari 31 hari 31 - 60 hari 61 - 90 hari Di atas 90 hari Jumlah Dikurangi : Penyisihan Piutang Ragu-ragu Bersih

The aging of accounts receivable is as follows:

30 Sep 2010/ Sep 30, 2010 Rp

30 Sep 2009/ Sep 30, 2009 Rp

36,112,964,519 8,520,994,938 7,155,779,435 57,993,116,256 109,782,855,148 (4,636,035,472) 105,146,819,675

32,191,475,110 7,854,065,915 5,624,408,803 56,915,852,652 102,585,802,480 (8,495,491,656) 94,090,310,824

Perubahan penyisihan piutang ragu-ragu adalah sebagai berikut:

The changes in the allowance for doubtful accounts are as follows:

30 Sep 2010/ Sep 30, 2010 Rp Saldo Awal Periode Penyisihan Selama Periode Berjalan Penghapusan Piutang Usaha Saldo Akhir Periode

Less than 31 days 31 - 60 days 61 - 90 days More than 90 days Total Less: Allowance for Doubtful Accounts Net

30 Sep 2009/ Sep 30, 2009 Rp

5,324,095,279 2,067,768,596 (2,755,828,403) 4,636,035,472

3,096,133,825 5,399,357,831 -8,495,491,656

Balance at Beginning of the Period Provision During the Period Accounts Receivable Written Off Balance at End of Period

Manajemen Perusahaan berpendapat bahwa penyisihan piutang ragu-ragu tersebut cukup memadai untuk menutup kemungkinan tidak tertagihnya piutang usaha.

The management of the Company and subsidiaries believe that the allowance for doubtful accounts is adequate to cover possible losses on uncollectible accounts.

Pada bulan April 2009, Perusahaan menjaminkan piutang usaha sejumlah Rp 25.009.713.309 kepada PT Ciptadana Multifinance, pihak yang memiliki hubungan istimewa, untuk fasilitas anjak piutang sebesar Rp 20 milyar. (Catatan 26).

In April 2009, the Company obtained a factoring facility (full recourse) of Rp 20 billion from PT Ciptadana Multifinance, related party, with receivable as the collateral amounting to Rp 25,009,713,309 (Note 26).

Pada tanggal 23 Juli 2010, Perseroan telah melakukan pembayaran kewajiban anjak piutang kepada PT Ciptadana Multifinance, pihak yang memiliki hubungan istimewa, sebesar Rp 20.000.000.000.

On July 23, 2010, the Company had fully paid the factoring facility to PT Ciptadana Multifinance, related parties, amounting to Rp 20,000,000,000.

Piutang usaha pelanggan perseorangan sebesar Rp 49.558.944.337 digunakan sebagai jaminan atas fasilitas pinjaman jangka pendek yang diperoleh Perusahaan (Catatan 12).

The account receivable of individual subscribers amounting to Rp 49.558.944.337 were used as collateral for short-term loan facility obtained by the Company (Note 12).


23






6. Biaya Dibayar di Muka

6. Prepaid Expenses 30 Sep 2010/ Sep 30, 2010 Rp

Biaya Izin Pita Spektrum Frekuensi Radio Sewa Asuransi Lain-lain Jumlah

30 Sep 2009/ Sep 30, 2009 Rp

15,233,613,889 2,000,896,501 299,371,118 8,728,075,536 26,261,957,044

Berdasarkan Surat Keputusan Menteri Komunikasi dan Informatika Republik Indonesia No. 237/KEP/M.KOMINFO/07/2009 tanggal 27 Juli 2009, Perusahaan telah ditetapkan sebagai salah satu pemenang seleksi untuk memperoleh izin penyelenggaraan Jaringan Tetap Lokal Berbasis Packet Switched yang menggunakan Pita Frekuensi Radio 2,3 GHz untuk keperluan layanan Pita Lebar Nirkabel (Wireless Broadband) di Zona 1 (wilayah Sumatera Bagian Utara) dan Zona 4 (wilayah Banten, Jakarta, Bogor, Depok, Tangerang dan Bekasi). Selanjutnya, Perusahaan telah memperoleh izin penyelenggaraan atas hal tersebut selama 10 (sepuluh) tahun terhitung sejak tanggal 18 Nopember 2009 sampai dengan tanggal 18 Nopember 2019. Biaya Izin Awal (Up-Front Fee) yang dibayar ke Kas Negara adalah sebesar Rp 128.402.000.000 dicatat sebagai bagian dari Aset Tidak Berwujud-Bersih (Catatan 10) dan diamortisasi selama 10 (sepuluh) tahun, dengan saldo sebesar Rp 117.238.159.444 pada 30 September 2010 (Catatan 10). Sedangkan biaya Izin Pita Spektrum Frekuensi Radio (IPSFR) untuk tahun pertama sebesar Rp 116.683.000.000 dicatat dalam akun “Biaya Dibayar Dimuka” dan diamortisasi selama manfaatnya sampai dengan tanggal 18 Nopember 2010, dengan saldo sebesar Rp 15.233.613.889 pada 30 September 2010.

-3,195,480,034 711,147,038 4,608,565,651 8,515,192,723

Based on the Decree of the Ministry of Communication and Information of the Republic of Indonesia No. 237/KEP/M.KOMINFO /07/2009 dated July 27, 2009, the Company has been resolved as one of the selection winners to obtain license of Package Switch Based-Local Fixed Network Implementation using 2.3 GHz Radio Frequency Band for Wireless Broadband services in Zone 1 (North Sumatera area) and Zone 4 (Banten, Jakarta, Bogor, Depok, Tangerang and Bekasi area). Furthermore, the Company has obtained license of the implementation for 10 (ten) years, starting November 18, 2009 up to November 18, 2019. Up-Front Fee paid to the State Treasury amounting to Rp 128,402,000,000 was recorded as Intangible Assets-Net (Note 10) and amortized for 10 (ten) years, with balance amounting to Rp 117,238,159,444 as of September 30, 2010 (Note 10). Meanwhile, Radio Frequency Spectrum Band License Fee (IPSFR) for the first year amounting to Rp 116,683,000,000 was recorded as ”Prepaid Expenses” and amortized over the benefit periods of up to November 18, 2010, with balance amounting to Rp 15,233,613,889 as of September 30, 2010.

7. Investasi Saham

7. Investment in Shares of Stock 30 Sep 2010/ Sep 30, 2010 Rp

PT Jakarta Marcapada Media PT Wireless Vision PT Direct Vision Jumlah

Radio Frequency Spectrum License Fee Rent Insurance Others Total

30 Sep 2009/ Sep 30, 2009 Rp

5,000,000,000 25,000,000 -5,025,000,000


24

5,000,000,000 25,000,000 -5,025,000,000

PT Jakarta Marcapada Media PT Wireless Vision PT Direct Vision Total






Berdasarkan akta No. 22 tanggal 17 Nopember 2008 oleh Notaris Lindasari Bachroem, SH, notaris di Jakarta, Perusahaan membeli dan menerima penyerahan dari PT Spektrum Duta Corporasi sebanyak 3.334 saham dengan nominal sebesar Rp 1.000.000 yang merupakan 12,5% dari jumlah saham yang dikeluarkan dalam PT Jakarta Marcapada Media, dengan harga Rp 5.000.000.000.

Based on notarial deed No. 22 dated November 17, 2008 by Notary Lindasari Bachroem, SH, notary in Jakarta, the Company has purchased and accepted of 3,334 shares from PT Spektrum Duta Corporasi with par value of Rp 1,000,000 per share which represents 12.5% from total shares of PT Jakarta Marcapada Media with amounting to Rp 5,000,000,000.

PT Margayu Vatri Chantiqa, perusahaan anak, memiliki sejumlah 25 saham atau kepemilikan 10% saham di PT Wireless Vision.

PT Margayu Vatri Chantiqa, a subsidiary, has 25 shares or 10% share ownership in PT Wireless Vision.

Pada tanggal 1 Maret 2005, PT Ayunda Prima Mitra, perusahaan anak, membeli 245 lembar saham (nominal Rp 500.000 per saham) PT Direct Vision (DV). Kemudian pada tanggal yang sama, modal ditempatkan di DV telah ditingkatkan sehingga jumlah modal disetor milik perusahaan anak menjadi Rp 2.450.000.000. Persentase kepemilikan perusahaan anak atas DV adalah 49%. Pada tahun 2008, DV telah menghentikan operasinya. Pada tanggal 31 Maret 2010 dan 2009, nilai tercatat investasi Perusahaan di DV adalah nol, karena akumulasi kerugian DV telah mencapai harga perolehan investasi saham perusahaan anak.

On March 1, 2005, PT Ayunda Prima Mitra, a subsidiary, purchased 245 shares (par value Rp 500,000 per share) of PT Direct Vision (DV). Then on the same date, the paid in capital in DV has been increased that the paid in capital owned by subsidiary became Rp 2,450,000,000. The effective subsidiary’s ownership in DV is 49%. In 2008, DV had ceased its operation. As of March 31, 2010 and 2009, the carrying amount of investment of the Company in DV is nil, due to the accumulated loss in DV is over the acquisition cost of subsidiary’s investment.


25






8. Aset Tetap

8. Property and Equipment

Saldo Awal/ Beginning Balance Rp Biaya Perolehan Pemilikan Langsung Hak atas tanah 3,732,161,315 Bangunan 9,340,818,647 Renovasi 19,745,637,370 Head-end Electronic 49,601,517,466 Perabotan 7,806,388,480 Peralatan Kantor 63,221,924,084 Kendaraan 2,341,813,850 Converter 23,448,567,841 Decoder 2,432,690,499 Jaringan Distribusi 1,381,127,342,595 Peralatan untuk Saluran Olimpiade 2,780,559,339 Kabel Modem 11,038,507,484 74,283,611,685 Set Top Box Sub Jumlah 1,650,901,540,655 Aset Sewa Pembiayaan 84,433,205,812 Jumlah 1,735,334,746,467 Akumulasi Penyusutan Pemilikan Langsung Bangunan 4,937,350,544 Renovasi 15,019,444,583 Head-end Electronic 34,833,911,181 Perabotan 5,655,431,444 Peralatan Kantor 52,875,888,937 Kendaraan 1,773,152,151 Converter 16,092,943,340 Decoder 2,359,140,520 Jaringan Distribusi 379,594,676,916 Peralatan untuk Saluran Olimpiade 2,780,559,334 Kabel Modem 7,370,556,946 34,039,720,892 Set Top Box Sub Jumlah 557,332,776,788 Aset Sewa Pembiayaan 28,205,177,804 Jumlah 585,537,954,592 Penyisihan Penurunan Nilai Aset Tetap Material Konstruksi 1,074,410,798 Nilai Buku 1,148,722,381,077

Penambahan/ Additions Rp

30 Sep 2010/Sep 30, 2010 Pengurangan/ Reklasifikasi/ Deductions Reclassification Rp Rp

--6,519,377,441 4,588,990,250 147,884,810 8,276,762,808 ---93,693,486,779 -4,700,634,377 10,936,937,916 128,864,074,381 13,752,672,287 142,616,746,668

514,371,862 2,144,495,960 3,556,682,324 711,542,051 4,906,601,919 189,553,905 107,659,247 39,058,137 63,411,681,900 -1,730,733,500 15,724,117,546 93,036,498,350 12,816,087,641 105,852,585,990

--

-----13,650,381,528 -----99,706,574 -13,750,088,102 -13,750,088,102

----2,923,331,643 -----99,706,574 -3,023,038,217

---5,624,967,462 -16,457,137,500 -1,463,992,969 -(1,463,992,969) --21,575,892,538 43,657,997,500 (43,657,997,500) --

Saldo Akhir/ Ending Balance Rp

3,732,161,315 9,340,818,647 26,265,014,811 59,815,475,178 7,954,273,290 74,305,442,864 2,341,813,850 24,912,560,810 2,432,690,499 1,473,356,836,405 2,780,559,339 15,639,435,287 106,796,442,139 1,809,673,524,434 54,527,880,599 1,864,201,405,033 1.00

3,023,038,217

--1,992,175,976 -5,828,569,531 ------9,154,669,076 16,975,414,583 (16,975,414,583) --

5,451,722,406 17,163,940,543 40,382,769,481 6,366,973,495 60,687,728,744 1,962,706,056 16,200,602,587 2,398,198,657 443,006,358,816 2,780,559,334 9,001,583,872 58,918,507,515 664,321,651,504 24,045,850,862 688,367,502,365

--

--

1,074,410,798 1,174,759,491,870


26

Acquisition Cost Direct Ownership Landrights Building Leasehold Improvement Head-end Electronics Furniture and Fixtures Office Equipment Vehicles Converters Decoders Distribution Network Equipment for Olympic Channel Cable Modem Set Top Box Sub Total Assets under Capital Lease Total Accumulated Depreciation Direct Ownership Building Leasehold Improvement Head-end Electronics Furniture and Fixtures Office Equipment Vehicles Converters Decoders Distribution Network Equipment for Olympic Channel Cable Modem Set Top Box Sub Total Assets under Capital Lease Total Allowance for Impairment of Property and Equipment Constructions Materials Net Book Value




Untuk Periode 9 (Sembilan) Bulan yang Berakhir pada 30 September 2010 dan 2009 (Tidak Diaudit) (Dalam Rupiah Penuh) Saldo Awal Beginning Balance Rp Biaya Perolehan Pemilikan Langsung Hak atas tanah 3,732,161,315 Bangunan 9,340,818,647 Renovasi 18,260,899,672 Head-end Electronic 43,998,565,837 Perabotan 6,905,555,661 Peralatan Kantor 62,011,996,737 Kendaraan 2,644,918,850 Converter 22,062,292,679 Decoder 2,432,690,499 Jaringan Distribusi 1,210,217,071,471 Peralatan untuk Saluran Olimpiade 2,780,559,339 Kabel Modem 11,038,507,484 Set Top Box 64,114,196,685 Sub Jumlah 1,459,540,234,876 Aset Sewa Pembiayaan 82,033,205,812 Jumlah 1,541,573,440,688 Akumulasi Penyusutan Pemilikan Langsung Bangunan 4,251,521,260 Renovasi 13,045,048,873 Head-end Electronic 31,002,709,642 Perabotan 4,719,446,861 Peralatan Kantor 47,631,668,083 Kendaraan 1,545,672,361 Converter 15,903,016,678 Decoder 2,290,747,801 Jaringan Distribusi 302,627,309,143 Peralatan untuk Saluran Olimpiade 2,780,559,334 Kabel Modem 5,483,725,407 Set Top Box 16,188,931,598 Sub Jumlah 447,470,357,041 Aset Sewa Pembiayaan 7,484,376,352 Jumlah 454,954,733,393 Penyisihan Penurunan Nilai Aset Tetap Material Konstruksi 1,074,410,798 Nilai Buku 1,085,544,296,497

Penambahan Additions Rp

For the Period of 9 (Nine) Months Ended September 30, 2010 and 2009 (Unaudited) (In Full Rupiah) 30 Sep 2009/Sep 30, 2009 Pengurangan Reklasifikasi Deductions Reclassification Rp Rp

--1,561,810,544 5,339,523,138 944,400,708 2,961,495,254 -2,702,839,382 -142,992,088,820 --10,169,415,000 166,671,572,846 1,800,000,000 168,471,572,846

--91,973,421 -68,200,000 1,422,815,940 303,105,000 ------1,886,094,361 -1,886,094,361

-----------------

Saldo Akhir Ending Balance Rp

3,732,161,315 9,340,818,647 19,730,736,795 49,338,088,975 7,781,756,369 63,550,676,051 2,341,813,850 24,765,132,061 2,432,690,499 1,353,209,160,291 2,780,559,339 11,038,507,484 74,283,611,685 1,624,325,713,361 83,833,205,812 1,708,158,919,173

514,372,370 1,361,402,658 2,780,131,257 663,559,500 4,681,940,453 235,019,655 148,149,073 54,557,082 56,652,123,923 -1,436,431,789 13,208,063,565 81,735,751,325 15,456,226,089 97,191,977,415

-1,862,500 -8,525,000 330,572,604 70,724,500 ------411,684,604 -411,684,604

----------------

4,765,893,630 14,404,589,031 33,782,840,899 5,374,481,361 51,983,035,932 1,709,967,516 16,051,165,751 2,345,304,883 359,279,433,066 2,780,559,334 6,920,157,196 29,396,995,163 528,794,423,762 22,940,602,441 551,735,026,203

--

--

--

1,074,410,798 1,155,349,482,172

Acquisition Cost Direct Ownership Landrights Building Leasehold Improvement Head-end Electronics Furniture and Fixtures Office Equipment Vehicles Converters Decoders Distribution Network Equipment for Olympic Channel Cable Modem Set Top Box Sub Total Assets under Capital Lease Total Accumulated Depreciation Direct Ownership Building Leasehold Improvement Head-end Electronics Furniture and Fixtures Office Equipment Vehicles Converters Decoders Distribution Network Equipment for Olympic Channel Cable Modem Set Top Box Sub Total Assets under Capital Lease Total Allowance for Impairment of Property and Equipment Constructions Materials Net Book Value

Depreciation charged to current year operations amounted to Rp 105,852,585,990 and Rp 97,191,977,415 for the period 9 (nine) months ended September 30, 2010 and 2009, respectively. The interest expense of loan capitalized into the Company’s property and equipment is amounting to Rp 21,107,917,869 as of September 30, 2010. The Company’s head-end electronics, olympic channel equipment, building and other equipment are covered by insurance against terrorism and sabotage risk amounting to Rp 396.734.383.927 PT Lippo General Insurance Tbk (a related party), for the period from December 31, 2009 to December 31, 2010.

Penyusutan yang dibebankan pada operasi tahun berjalan masing-masing sebesar Rp 105.852.585.990 dan Rp 97.191.977.415 untuk periode 9 (sembilan) bulan yang berakhir pada tanggal 30 September 2010 dan 2009. Beban bunga pinjaman yang dikapitalisasi pada aset tetap Perusahaan sebesar Rp 21.107.917.869 pada tanggal 30 September 2010. Head-end electronic, peralatan untuk saluran olimpiade, bangunan dan peralatan lain Perusahaan diasuransikan terhadap risiko kerugian dan risiko usaha sejumlah Rp 396.734.383.927 kepada PT Lippo General Insurance Tbk (pihak yang memiliki hubungan istimewa) untuk jangka waktu sejak tanggal 31 Desember 2009 sampai dengan tanggal 31 Desember 2010. Pada bulan Juni 2010, Perusahaan menjual aset tetap ke

In June, 2010, the Company sold fixed assets to PT Linknet


27






PT Linknet (Perusahaan anak) sejumlah Rp 110 milyar dengan nilai buku sebesar Rp 104.610.754.674.

(Subsidiary) amounting to Rp 110 billion with booked value amounting to Rp 104,610,754,674.

9. Uang Muka

9. Advances

Uang muka merupakan pembayaran yang dilakukan Perusahaan terlebih dahulu untuk transaksi pembelian barang atau jasa, dengan rincian:

Advances is the payment made by the Company in advance for certain amounts with regard to the purchase of goods and services,with detail :

30 Sep 2010/ Sep 30, 2010 Rp Uang Muka Pembelian Material Biaya Pengurusan Import Barang Lain-lain Jumlah

30 Sep 2009/ Sep 30, 2009 Rp

30,027,921,646 182,154,000 5,964,961,866 36,175,037,512

Uang muka kepada pihak yang mempunyai hubungan istimewa adalah sebesar Rp 17.769.492.852 dan Rp 1.306.662.737 , masing-masing pada tanggal 30 September 2010 dan 2010. (Catatan 26)

21,600,890,300 -4,023,255,947 25,624,146,247

Advances to related parties amounting to Rp 17,769,492,852 and Rp 1,306,662,737, as of September 30, 2010 and 2009, respectively. (Note 26)

10. Aset Tidak Berwujud – Bersih

10. Intangible Asset - Net 30 Sep 2010/ Sep 30, 2010 Rp

Biaya Izin Awal Layanan Pita Lebar Nirkabel (Catatan 6) Perangkat Lunak Komputer Jumlah

30 Sep 2009/ Sep 30, 2009 Rp

117,238,159,444 6,326,628,895 123,564,788,340

-3,747,057,134 3,747,057,134

11. Aset Lain-lain – Bersih

Up front Fee of Wireless Broadband (Note 6) Computer Software Total

11. Other Assets - Net 30 Sep 2010/ Sep 30, 2010 Rp

Uang Jaminan Biaya Jasa Teknik dan Distribusi Program Ditangguhkan Lain-lain Jumlah - Bersih

Advances for Purchase of Materials Installation and Construction Others Total

30 Sep 2009/ Sep 30, 2009 Rp

18,458,698,947 -13,965,433,850 32,424,132,797

Biaya jasa teknik dan distribusi program ditangguhkan

25,676,040,756 Deposits 7,106,513,571 Deferred Programming Distribution and Technical Services 16,667,748,016 Others 49,450,302,343 Total- Net

Deferred programming distribution and technical services


28






merupakan minimum guarantee cost yang dibayarkan Perusahaan terkait dengan jasa teknik dan distribusi program yang diterima Perusahaan. Minimum guarantee cost tersebut ditangguhkan sehubungan dengan periode prematur atas perluasan jaringan distribusi Perusahaan.

represent minimum guarantee cost paid by the Company with regard to programming distribution and technical services received by the Company. The minimum guarantee cost was deferred in connection with the prematurity period of the extension on distribution network of the Company.

12. Pinjaman Jangka Pendek

12. Short-term Loan 30 Sep 2010/ Sep 30, 2010 Rp

Falcon Private Bank Ltd (USD 26,000,000) PT Bank Sinarmas Jumlah

30 Sep 2009/ Sep 30, 2009 Rp

232,024,000,000 40,000,000,000 272,024,000,000

----

Falcon Private Bank Ltd (USD 26,000,000) PT Bank Sinarmas Total

Perusahaan memperoleh pinjaman jangka pendek dari Falcon Private Bank Ltd, Cabang Singapura, pihak ketiga, maksimum sebesar USD 32,000,000 pada tanggal 8 Januari 2010. Pinjaman ini akan jatuh tempo 1 tahun sejak tanggal pencairan. Per 30 September 2010, pinjaman yang telah digunakan adalah sejumlah Rp 232.024.000.000 (USD 26,000,000). Pinjaman ini dikenakan bunga tahunan sebesar 30 basis point di atas deposit rate bank dalam denominasi Dolar AS. Pinjaman ini digunakan untuk pembiayaan umum, termasuk tetapi tidak terbatas untuk keperluan modal kerja.

The Company obtained unsecured short-term credit facility from Falcon Private Bank Ltd, Singapore, third party, amounting to USD 32,000,000 on January 8, 2010. The loan will mature within 1 (one) year from the withdrawal of the credit facility. As of Sep 30, 2010, the outstanding credit is Rp 232,024,000,000 (USD 26,000,000). This credit facility bears annual interest rate of 30 basis point over bank’s deposit rate in US Dollar denomination. This credit facility is used for general financing, including but not limited to working capital need.

Perusahaan memperoleh pinjaman dari PT Bank Sinarmas maksimum sebesar Rp 45.000.000.000 pada tanggal 16 Desember 2009. Periode pinjaman ini adalah selama 12 bulan dan akan jatuh tempo pada tanggal 16 Desember 2010. Pinjaman ini dijamin dengan piutang usaha dari pelanggan perseorangan sebesar 110% dari plafond atau outstanding pinjaman (lihat Catatan 5). Pinjaman ini dikenakan bunga tahunan sebesar 16,5%. Pinjaman ini digunakan untuk pembiayaan umum, termasuk tetapi tidak terbatas untuk keperluan modal kerja. Di bulan Agustus 2010, Perusahaan telah melakukan pembayaran kepada PT Bank Sinarmas sebesar Rp 5.000.000.000 atas pinjaman tersebut.

The Company obtained a credit facility from PT Bank Sinarmas amounting to Rp 45,000,000,000 on December 16, 2009. This credit facility is for 12 months and will mature on December 16, 2010. This credit facility is collateralized with accounts receivable from the Company’s retail customers for 110% of the facility or outstanding balance (see Note 5). This credit facility bears annual interest rate of 16.5%. This credit facility is used for general financing, including but not limited to working capital need.

Tidak terdapat pembatasan yang berpotensi merugikan pemegang saham (negative covenants) yang diatur dalam perjanjian pinjaman di atas.

There is no restriction which potentially can cause loss to the stockholders (negative covenants) was set forth on above loan agreement.

In August, 2010, the Company had paid to PT Bank Sinarmas amounting to Rp 5,000,000,000 for the facility..


29






13. Pinjaman Jangka Panjang

Raiffeisen Zentralbank Oesterreich AG, Cabang Singapura Dikurangi: Bagian yang Jatuh Tempo dalam Satu Tahun Bagian Jangka Panjang

13. Long-term Loans 30 Sep 2010/ Sep 30, 2010 Rp

30 Sep 2009/ Sep 30, 2009 Rp

446,200,000,000 446,200,000,000 --

532,455,000,000 96,810,000,000 435,645,000,000

Raiffeisen Zentralbank Oesterreich AG, Singapore Branch Less: Current Maturities Long-term Portion

Perusahaan memperoleh pinjaman tanpa jaminan dari Raiffeisen Zentralbank Oesterreich AG, Cabang Singapura, sebesar USD 55,000,000 pada tahun 2007. Di bulan Agustus 2008, pinjaman ini telah diperpanjang dan akan jatuh tempo pada tanggal 31 Mei 2011. Pada tanggal 7 Juli 2010, Perseroan telah melakukan pembayaran angsuran pokok pinjaman kepada Bank RZB sebesar USD 5,000,000. Per 30 September 2010, pinjaman tersebut sejumlah Rp 446.200.000.000 (USD 50,000,000) dicatat sebagai pinjaman bank yang akan jatuh tempo dalam satu tahun.

The Company obtained unsecured credit facility from Raiffeisen Zentralbank Oesterreich AG, Singapore amounting to USD 55,000,000 in 2007. In August 2008, this credit facility has been extended and will mature on May 31, 2011. On July 7, 2010, the Company had paid installment on RZB Bank’s loan amounting to USD 5,000,000. As of September 30, 2010, the credit facility amounting to Rp 446,200,000,000 (USD 50,000,000) was recorded as current maturities of bank loan.

Pinjaman ini digunakan untuk pembiayaan umum, termasuk tetapi tidak terbatas untuk keperluan modal kerja. Fasilitas pinjaman tersebut dikenakan tingkat bunga tahunan sebesar 2,6% diatas USD LIBOR. Pada bulan Juni 2008 tingkat bunga tahunan berubah menjadi sebesar 2,9% di atas USD LIBOR. Mulai bulan Desember 2009 tingkat bunga tahunan berubah menjadi sebesar 3,4%.

This credit facility is used for general financing, including but not limited to working capital need. This facility bears annual interest rate of 2.6% over USD LIBOR. In June 2008, annual interest rate was changed to be 2.9% over USD LIBOR. Starting December 2009, the annual interest rate was changed to be 3.4%.

Perjanjian tersebut di atas mensyaratkan, antara lain bahwa Perusahaan tidak diperkenankan, kecuali dengan mendapatkan persetujuan dari kreditur untuk mengubah anggaran dasar Perusahaan, menjual, mengalihkan atau melepaskan seluruh atau sebagian asetnya yang besarnya melebihi 20% dari total aset Perusahaan, mengubah struktur Perusahaan melalui penggabungan usaha atau akuisisi yang mengakibatkan perubahan anggaran dasarnya, membagikan laba atau dividen jika dividen tersebut melebihi 30% dari laba bersih.

The above loan agreements provided among others, that the Company may not, unless obtained approval from the creditors alter the article of association of the Company, sell, transfer or otherwise dispose the, whole or any part of its assets for above 20% of the Company’s asset, change its corporate structure either by business combination or acquisition affecting its present articles of association, distribute profits or dividends for more than 30% of the net income.


30






14. Surat Promes

14. Promissory Notes 30 Sep 2010/ Sep 30, 2010 Rp

30 Sep 2009/ Sep 30, 2009 Rp

Surat Promes Jangka Pendek Surat Promes Atas Unjuk Commercial Papers Jumlah

----

230,383,500,000 43,577,252,169 273,960,752,169

Short-term Promissory Notes Bearer Notes Commercial Papers Total

Surat Promes Jangka Panjang Surat Promes Atas Unjuk

-2,342,040,000

---

Long-term Promissory Notes Bearer Notes

a. Surat Promes Atas Unjuk Per 30 September 2009, akun ini merupakan saldo surat promes atas unjuk (jangka pendek) kepada PT Ciptadana Capital dan PT Ciptadana Securities, pihak yang memiliki hubungan istimewa, masing-masing sebesar Rp 196.500.000.000 dan Rp 33.883.500.000 (USD 3,500,000). Penerbitan surat promes ini dilakukan untuk memenuhi kebutuhan operasional Perusahaan. Surat promes atas unjuk ini dikenakan tingkat bunga tahunan sebesar 18% untuk surat promes dalam Rupiah dan 9% untuk surat promes dalam Dolar AS masing-masing untuk periode pada 30 September 2009. Pada tanggal 31 Mei 2010, Perusahaan telah melunasi surat promes atas unjuk kepada PT Ciptadana Capital dan PT Ciptadana Securities, pihak yang memiliki hubungan istimewa, masing-masing sebesar Rp 191.500.000.000 dan Rp 32.445.000.000 (USD 3,500,000). Surat promes sebesar Rp 2.342.040.000 merupakan surat promes atas unjuk (jangka panjang) kepada Goldmax Worldwide Holdings Limited, dengan tingkat bunga tahunan sebesar 8% dan akan jatuh tempo pada berbagai tanggal sampai dengan 17 Nopember 2011.

a. Bearer Notes As of September 30, 2009, the account represents bearer notes (short term) to PT Ciptadana Capital and PT Ciptadana Securities, related parties, amounting to Rp 196,500,000,000 and 33,883,500,000 (USD 3,500,000), respectively. The issuance of these bearer notes is to support the operational needs of the Company. These bearer notes bear annual interest of 18% for Rupiah bearer notes and 9% for USD bearer notes for the periods ended September 30, 2009, respectively. On May 31, 2010, The Company had fully paid the bearer notes to PT Ciptadana Capital and PT Ciptadana Securities, related parties, amounting to Rp 191,500,000,000 and Rp 32,445,000,000 (USD 3,500,000), respectively. The bearer notes amounting to Rp 2,342,040,000 represents bearer notes (long term) to Goldmax Worldwide Holdings Limited, bears annual interest rate of 8% and will be due on various dates until November 17, 2011.

b. Commercial Papers Per 30 September 2009, Commercial Papers (CP) kepada pihak ketiga adalah sebesar Rp 43,577,252,169. Penerbitan CP ini dilakukan untuk memenuhi kebutuhan operasional Perusahaan dan refinancing.

b. Commercial Papers As of September 30, 2009, the Commercial Papers (CP) to third parties accounted for Rp 43,577,252,169. The issuance of these CP is to support the operational needs of the Company and refinancing purposes.

CP ini dikenakan tingkat bunga sebesar berkisar antara 15.50% sampai dengan 17% dan telah jatuh tempo pada berbagai tanggal sampai dengan 23 Juni 2010. Sampai dengan bulan Agustus 2010, Perusahaan telah melunasi seluruh Commercial Papers (CP) nya.

These CP bear interest rate ranging from 15.50% to 17%. and due on various dates until June 23, 2010. Up to August 2010, the Company had fully paid its Commercial Papers (CP).


31




Untuk Periode 9 (Sembilan) Bulan yang Berakhir pada 30 September 2010 dan 2009 (Tidak Diaudit) (Dalam Rupiah Penuh) 15.


Hutang Usaha

15. Accounts Payable 30 Sep 2010/ Sep 30, 2010 Rp

30 Sep 2009/ Sep 30, 2009 Rp

Pihak yang Memiliki Hubungan Istimewa (lihat Catatan 26)

6,319,771,470

9,725,857,418

Related Parties (see Note 26)

Pihak Ketiga PT NAP Info Lintas Nusa Home Box Office (Singapore) Pte. Ltd. International Global Networks BV ("Star") Virtual Application Partners, LLC PT Merbau Prima Sakti PT Glenindo Citramandiri PT Wira Pamungkas Eastern Electronic Pte. Ltd STR International Celestial Movie Channel Limited PT Catur Mitra Adhikara Lain-lain (masing-masing di bawah Rp 1.000.000.000) Sub Jumlah Jumlah

8,028,056,064 2,091,740,534 1,160,120,000 889,580,016 757,619,232 740,448,000 520,541,200 460,277,610 153,653,432 74,349,235 26,750,635 13,199,752,745 28,102,888,704 34,422,660,174

158,314,546 20,469,731,483 16,380,712,138 965,040,804 1,736,960,320 740,448,000 -2,725,975,980 1,258,689,737 1,220,036,214 2,304,473,440 68,565,322,931 116,525,705,593 126,251,563,011

Third Parties PT NAP Info Lintas Nusa Home Box Office (Singapore) Pte. Ltd. International Global Networks BV ("Star") Virtual Application Partners, LLC PT Merbau Prima Sakti PT Glenindo Citramandiri PT Wira Pamungkas Eastern Electronic Pte. Ltd STR International Celestial Movie Channel Limited PT Catur Mitra Adhikara Others (below Rp 1.000,000,000 each) Sub Total Total

Rincian hutang usaha berdasarkan satuan mata uang adalah sebagai berikut:

The details of accounts payable based on currency are as follows:

30 Sep 2010/ Sep 30, 2010 Rp Rupiah Dolar AS (2010: USD 1,543,618; 2009: USD 10,220,132) Jumlah

30 Sep 2009/ Sep 30, 2009 Rp

20,367,887,320

27,310,467,832

13,775,242,854 34,143,130,174

98,941,095,179 126,251,563,011

Analisa umur hutang usaha adalah sebagai berikut:

The aging of accounts payable is as follows:

30 Sep 2010/ Sep 30, 2010 Rp Kurang dari 31 hari 31 - 60 hari 61 - 90 hari Di atas 90 hari Jumlah

Rupiah US Dollar (2010: USD 1,543,618; 2009: USD 10,220,132) Total

30 Sep 2009/ Sep 30, 2009 Rp

13,373,342,493 388,244,793 437,979,883 19,943,563,005 34,143,130,174


32

28,618,982,924 15,282,423,234 4,767,403,112 77,582,753,741 126,251,563,011

Less than 31 days 31 - 60 days 61 - 90 days More than 90 days Total






16. Perpajakan a.

16.

Hutang Pajak

a. 30 Sep 2010/

30 Sep 2009/

Sep 30, 2010

Sep 30, 2009

Rp

Rp

Taxation

Taxes Payable

Pajak Penghasilan Pasal 21

1,291,079,520

1,550,062,015

Income Tax Article 21


14,457,622

783,981,698



479,893,373

114,725,357



11,872,084,091

6,054,150,684


1,908,744,865

2,115,021,076

Value Added Taxes

15,566,259,471

10,617,940,830

Total

Pajak Pertambahan Nilai Jumlah

b. Pajak Kini Rekonsiliasi antara laba (rugi) sebelum taksiran beban pajak penghasilan, seperti yang disajikan dalam laporan laba rugi konsolidasian dan taksiran penghasilan kena pajak (rugi fiskal) Perusahaan, termasuk akumulasi rugi fiskal untuk periode-periode yang berakhir pada 30 September 2010 dan 2009 adalah sebagai berikut:

b. Current Tax A reconciliation between income (loss) before estimated tax expense as shown in the consolidated statements of income and estimated taxable income (tax loss) of the Company for the period ended September 30, 2010 and 2009 are as follows:

30 Sep 2010/

30 Sep 2009/

Sep 30, 2010

Sep 30, 2009

Rp

Rp

Laba (Rugi) sebelum Pajak Penghasilan sesuai dengan Laporan Laba Rugi Konsolidasian

Income (Loss) before Income Tax Expense 48,433,160,667

66,259,570,150

(25,251,799,959)

(4,995,783,760)

Laba (Rugi) sebelum Beban Pajak Penghasilan dari Perusahaan Anak yang Dikonsolidasi

Income (Loss) before Income Tax Expense

Laba (Rugi) Sebelum Beban Pajak Penghasilan Perusahaan

Penyusutan Aset Tetap Penyisihan Piutang Ragu-ragu - Bersih

of Consolidated Subsidiaries Income (Loss) before Income Tax Expense

Attributable to the Company

73,684,960,626

71,255,353,910

(7,957,691,291)

(15,915,382,583)

Cost of Services

5,745,724,329

(7,115,384,541)

Depreciation of Fixed Assets

Beda Waktu: Beban layanan

According to Consolidated Statement of Income

Timing Differences:

(18,334,440)

5,399,357,832

Provision for Doubtful Account - Net

Penyusutan Aset Sewa Pembiayaan

8,268,378,570

15,456,226,089

Depreciation of Assets under Finance Lease

Angsuran Hutang Sewa Pembiayaan

(20,412,458,463)

(24,195,611,344)

Lease Installments

5,400,000,000

1,080,882,000

Estimated Liabilities on Employee Benefits

Kewajiban Diestimasi atas Imbalan Kerja Laba Penjualan Aset Tetap

5,057,211,451

--

Gain on Disposal of Property and Equipment

Alokasi Biaya Perizinan Secara Fiskal

(13,943,654,688)

--

Allocation of Licence Fee in Fiscal

Beban Selisih Kurs

(16,793,156,250)

(33,586,312,500)

Loss on foreign exchange

Sewa

138,377,857

509,913,033

Rental

Listrik, Air dan Telepon

210,755,452

264,347,311

Electricity, Water and Telephone

Beda Tetap:

Jamuan Beban dan Denda Pajak

Permanent Differences:

526,961,394

491,841,557

Entertainment

2,712,204,267

5,498,849,855

Tax Expenses and Penalties

(841,533,279)

(149,030,692)

5,710,590,829

1,120,037,906

Others

20,115,087,833

Taxable Income (Loss Carryforward) at End of Year

Penghasilan Bunga yang Telah Dikenakan Pajak Penghasilan Final Lain-lain

Interest Income Already

Laba Kena Pajak (Rugi Fiskal) pada Tahun Berjalan

47,488,336,364


33

Subjected to Final Tax






Beban pajak penghasilan dan perhitungan taksiran hutang pajak penghasilan badan (klaim atas pengembalian pajak penghasilan) Perusahaan adalah sebagai berikut:

The income tax expense and computations of the estimated corporate income tax payable (claim for tax refund) of the Company as follows:

30 Sep 2010/

30 Sep 2009/

Sep 30, 2010

Sep 30, 2009

Rp

Rp

Taksiran Laba Kena Pajak

47,488,336,364

20,115,087,833

Estimated Taxable Income

Beban Pajak Penghasilan (Tarif 25%)

11,872,084,091

5,632,224,593

Income Tax Expense (Tariff 25%)

Pasal 22

(636,899,000)

(777,939,506)

Article 22

Pasal 23

(568,401,788)

(269,074,175)

Article 23

Pajak Penghasilan Dibayar Dimuka

Pasal 25 Jumlah Pajak Penghasilan Dibayar Dimuka

Prepayment of Income Tax

(521,018,508)

(1,767,022,048)

(1,726,319,296)

(2,814,035,729)

10,145,764,795

2,818,188,864

Taksiran Hutang Pajak Penghasilan Badan (Klaim atas Pengembalian Pajak Penghasilan)

Estimated Corporate Income Tax Payable

c. Aset Pajak Tangguhan – Bersih Perhitungan beban pajak tangguhan atas perbedaan temporer untuk tahun-tahun yang berakhir pada 30 September 2010 dan 2009, dengan menggunakan maksimum tarif pajak masing–masing sebesar 25% dan 28% adalah sebagai berikut:

30 Sep 2010/

30 Sep 2009/

Sep 30, 2010

Sep 30, 2009

Rp

Rp

The Company and Subsidiaries (PT Link Net)

Rugi Fiskal Kewajiban Diestimasi atas Imbalan Kerja

(Claim for Income Tax Refund)

c. Deferred Tax Assets - Net A computation of deferred tax expense on temporary differences for the years ended September 30, 2010 and 2009 using the maximum tax rate of 25% and 28% respectively, are as follows:

Perusahaan dan Perusahaan Anak (PT Link Net) Rugi selisih kurs

Article 25 Total Prepayment of Income Tax

--

(32,215,039,165)

Tax Loss Carryforward

(4,198,289,063)

15,673,612,500

Loss on foreign exchage

1,350,000,000

302,646,960

Estimated Liabilities on Employee benefits

Penyisihan Piutang Ragu-ragu

(2,315,014,510)

(196,066,189)

Provision for Doubtful Accounts

Penyusutan Aset Tetap

(1,395,222,947)

(1,992,307,672)


Aset Sewa Pembiayaan

2,757,780,512

(2,447,027,871)

Assets under Finance Lease

Beban distribusi program

(1,989,422,823)

7,427,178,539

Programming Distribution

--

(102,715,363)

Allowance for impairment of property and equipment

Penyisihan Penurunan Nilai Aset Tetap Alokasi Biaya Perizinan Secara Fiskal

(3,485,913,672)

--


Manfaat (Beban) Pajak Tangguhan

(9,276,082,503)

(13,549,718,261)

Deferred Income Tax Benefit (Expense)


34






Rincian aset pajak tangguhan - bersih adalah sebagai berikut:

The details of deferred tax assets - net are as follows:

30 Sep 2010/

30 Sep 2009/

Sep 30, 2010

Sep 30, 2009

Rp

Rp

Perusahaan dan Perusahaan Anak (PT Link Net)

The Company

Rugi Fiskal

--

--

Fiscal Loss

Penyusutan Aset Tetap

2,942,669,836

5,257,558,468


Aset Sewa Pembiayaan

Assets under Finance Lease

(1,065,164,398)

(2,423,867,781)

Rugi selisih kurs

6,997,148,438

15,673,612,500

Loss on foreign exchage

Penyisihan Piutang Ragu-ragu

1,110,630,688

4,145,500,383

Provision for Doubtful Accounts

Kewajiban Diestimasi atas Imbalan Kerja

4,478,735,773

2,658,533,920

Estimated Liabilities on Employee benefits

268,602,700

300,835,024

Allowance for impairment of property and equipment

3,315,704,705

7,427,178,539

Programming Distribution

--

--

Amortization of Deferred Expenses in Fiscal

Penyisihan Penurunan Nilai Aset Tetap Beban distribusi program Amortisasi Biaya Ditangguhkan Secara Fiskal Alokasi Biaya Perizinan Secara Fiskal

(4,440,011,866)

--


--

--

Allowance for Unrecoverable Fixed Assets

13,608,315,876

33,039,351,053

Penyisihan Aset Tetap yang Tidak Terpulihkan

Bersih

17. Hutang Sewa Pembiayaan

17. Obligation Under Capital Lease

Perusahaan Sewa Pembiayaan/

Jenis Aset/

Leasing Company

Type of Assets

PT Ciptadana Multifinance PT Orix Finance Indonesia PT Asiatic Sejahtera Finance Jumlah/ Total Bagian yang Jatuh Tempo dalam Satu Tahun/ Current Maturity in 1 Year Bagian Jangka Panjang/ Long Term Portion

Net

Set Top Box, Transmitter, Power Supply, Wavetex, Scrumble, Mux Set Top Box, Cable Modem, CMT3, Cisco and Fiber Driver, Catalyst Metro 6500 Barang Elektronik, Kendaraan/Electronics, Vehicles


35

30 Sep 2010/ Sep 30, 2010 Rp

30 Sep 2009/ Sep 30, 2009 Rp

12,552,672,288

25,762,643,399

10,768,435,729 2,900,262,491 26,221,370,507

24,819,801,976 1,730,000,000 52,312,445,375

13,023,028,161 13,198,342,346

29,922,115,896 22,390,329,479






Pembayaran sewa minimum masa datang dalam perjanjian sewa pembiayaan per 30 September 2010 dan 2009 adalah sebagai berikut:

The minimum rental payment according to the leasing agreement as of September 30, 2010 and 2009 is as follows:

30 Sep 2010/ Sep 30, 2010 Rp Tahun: 2009 2010 2011 2012 2013 Jumlah Dikurangi Bagian Bunga Bersih Bagian yang Jatuh Tempo Dalam 1 Tahun Bagian Jangka Panjang

30 Sep 2009/ Sep 30, 2009 Rp

-5,504,676,065 13,971,913,568 5,022,455,608 4,404,909,166 28,903,954,407 2,682,583,899 26,221,370,507 13,023,028,161 13,198,342,346

Year: 2009 2010 2011 2012 2013 Total Deducted by Interests Net Current Maturity in 1 Year Long Term Portion

13,342,165,325 24,549,132,788 9,466,214,578 9,419,598,625 -56,777,111,316 4,464,665,941 52,312,445,375 29,922,115,896 22,390,329,479

18. Beban Masih Harus Dibayar

18. Accrued Expenses 30 Sep 2010/ Sep 30, 2010 Rp

Distribusi Program Bunga dan Beban Pendanaan Lainnya Jasa Profesional Biaya Karyawan Biaya Hak Penyelenggaraan Jasa Telekomunikasi Promosi dan Komisi Lain-lain Jumlah

30 Sep 2009/ Sep 30, 2009 Rp

27,370,799,289 1,569,965,824 1,944,699,760 153,359,805 5,676,271,307 325,385,912 17,581,430,189 54,621,912,086

25,203,822,783 7,576,246,981 804,051,250 301,893,311 5,571,245,364 297,785,912 16,128,873,322 55,883,918,923

19. Pendapatan Jasa Langganan Ditangguhkan

19.

30 Sep 2010/ Sep 30, 2010 Rp Akses Jaringan Korporasi Jasa Langganan untuk Televisi Kabel Pelanggan Rumah Tangga Jumlah

Programming Distribution Interest and Other Financing Charges Professional Fee Employees Expenses Telecommunication License Fee Promotion and Commission Others Total

Unearned Subscription Fees

30 Sep 2009/ Sep 30, 2009 Rp

5,806,719,770

12,183,350,966

10,695,028,948 16,501,748,718

11,663,587,986 23,846,938,952


36

Corporate Access Network Subscription Fees for Cable Television Household Subscribers Total






20. Kewajiban Diestimasi atas Imbalan Kerja

20. Estimated Liabilities on Employee Benefits

30 Sep 2010/ Sep 30, 2010 Rp Beban Jasa Kini Beban Bunga Amortisasi atas Biaya Jasa Lalu yang Belum Diakui dan Kerugian Aktuarial - Bersih Jumlah

30 Sep 2009/ Sep 30, 2009 Rp

5,454,329,019 --

1,080,882,000 --

-5,454,329,019

-1,080,882,000

Current Service Cost Interest Cost Total Amortization of Past Service Cost - Non Vested and Actuarial Gains/Losses- Net Total

-30 Sep 2010/ Sep 30, 2010 Rp Kewajiban Awal Tahun Beban Manfaat Karyawan yang Diakui pada Tahun Berjalan Kewajiban Akhir Tahun

30 Jun 2009/ Jun 30, 2009 Rp

12,299,447,981

8,573,889,176

Liabilities at Beginning of the Year

5,454,329,019 17,753,777,000

1,080,882,000 9,654,771,176

Recognized Employee Benefit Liabilities the End of the Year

Perusahaan dan perusahaan anak menghitung kewajiban estimasi atas pemberhentian karyawan dan imbalan kerja pada kasus pemecatan karyawan berdasarkan masa tahun kerja karyawan. Kewajiban estimasi dihitung berdasarkan Peraturan Ketenagakerjaan dan PSAK No. 24 (Revisi 2004) mengenai Imbalan Kerja. Pada tanggal 30 September 2010 dan 2009, Perusahaan dan perusahaan anak membentuk penyisihan untuk pemutusan kerja dan pembayaran kompensasi masingmasing sebesar Rp 17.753.777.000 dan 9.654.771.176, dengan imbalan kerja yang diakui pada 30 September 2010 dan 2009 masing-masing sebesar Rp 3.654.329.019 dan Rp 1.080.882.000.

The Company and subsidiaries have determined an estimated liabilities on their employee’s termination, gratuity and compensation benefits in case of employment dismissal based on employees’ number of years of service provided. The estimated liabilities are calculated based on existing manpower regulations and SFAS No. 24 (Revised 2004) regarding “Employee Benefits”. As of September 30, 2010 and 2009, the Company and subsidiaries have provided a provision for severance gratuity and compensation payments amounted to Rp 17,753,777,000 and Rp 9,654,771,176 , respectively, with employee benefits recognized on September 30, 2010 and 2009 amounting to Rp 3,654,329,019 and Rp 1,080,882,000, respectively..

21. Modal Saham

21. Capital Stock

Susunan pemegang saham Perusahaan dan masingmasing kepemilikan saham adalah sebagai berikut:

The composition of the Company’s stockholders and their respective shareholdings are as follows:

30 September 2010/ September 30,2010 Jumlah Saham/ Persentase Jumlah/ Total Number of Kepemilikan/ Shares Percentage of Ownership % Rp AcrossAsia Ltd PT Reksa Puspita Karya Masyarakat dan Kepemilikan dibawah 5% Jumlah

959.976.602 588.167.378 193.751.420 1.741.895.400

55.11 33.77 11.12 100.00


37

479.988.301.000 294.083.689.000 96.875.710.000 870.947.700.000

AcrossAsia Ltd PT Reksa Puspita Karya Public and Ownership below 5% Total






30 September 2009/ September 30,2009 Jumlah Saham/ Persentase Jumlah/ Total Number of Kepemilikan/ Shares Percentage of Ownership % Rp AcrossAsia Ltd PT Reksa Puspita Karya Masyarakat dan Kepemilikan dibawah 5% Jumlah

457.131.716 280.079.704 92.262.580 829.474.000

55.11 33.77 11.12 100.00

228.565.858.000 140.039.852.000 46.131.290.000 414.737.000.000

AcrossAsia Ltd PT Reksa Puspita Karya Public and Ownership below 5% Total

Pada tanggal 26 dan 30 Juni 2008, PT Reksa Puspita Karya, pemegang saham, melakukan exercise Waran Seri 1 atas saham Perusahaan masing-masing sejumlah 13.000.000 dan 500.000 lembar waran dengan harga exercise sebesar Rp 1.000 per lembar waran. Dana exercise Waran Seri 1 tersebut telah diterima oleh Perusahaan pada tanggal 27 Juni 2008 dan 1 Juli 2008 masing-masing sebesar Rp 13.000.000.000 dan Rp 500.000.000.

On June 26 and 30, 2008, PT Reksa Puspita Karya, a stockholder, exercised Warrant Serie 1 of the Company totalling 13,000,000 and 500,000 warrants, respectively, with exercise price of Rp 1,000 per warrant. The Company has received the exercised fund of the Warrant Serie 1 on June 27, 2008 and July 1, 2008 amounting to Rp 13,000,000,000 and Rp 500,000,000, respectively.

Pada tahun 2010, Perusahaan melakukan Penawaran Umum Terbatas II kepada para pemegang saham dalam rangka penerbitan Hak Memesan Efek Terlebih Dahulu (HMETD) sejumlah 912.421.400 saham baru (dengan nilai nominal Rp 500 per saham) dengan harga penawaran Rp 500 per saham dan sebanyak-banyaknya 130.345.914 Waran Seri II. Penawaran tersebut telah mendapat pemberitahuan efektif pernyataan dari Badan Pengawas Pasar Modal dan telah mendapat persetujuan dari Rapat Umum Pemegang Saham Perusahaan tanggal 19 April 2010. Periode perdagangan HMETD dari tanggal 3 Mei 2010 sampai 19 Mei 2010 dengan tanggal penjatahan saham pada tanggal 24 Mei 2010. (Catatan 1.b.)

In 2010, the Company conducted Limited Public Offering in connection with Pre-Emptive Rights Issuance II of 912,421,400 new shares (at par value Rp 500 per share) at an offering price of Rp 500 per share and a maximum of 130,345,914 Warant Serie II. The offering has received an effective notification statement from the Capital Market Supervisory Agency and approval from the Company’s Extraordinary General Meeting of Shareholders dated April 19,2010. The trading period of preemptive right started on May 3, 2010 until May 19, 2010 with share distribution date on May 24, 2010.(Note 1.b.)

Per 30 September 2010, belum ada waran seri II yang dilaksanakan oleh pemegang waran.

As of September 30, 2010, there are none of warrants serie II has been exercised by warrant’s holder.


38






22. Pendapatan

Jasa Langganan untuk Televisi Kabel Pelanggan Rumah Tangga Pelanggan Komersial dan Lainnya Jasa Langganan untuk Internet Pita Lebar Kecepatan Tinggi Layanan Komunikasi Data Pemasangan Media Iklan Lain-lain Jumlah

22. Revenues 30 Sep 2010/ Sep 30, 2010 Rp

30 Sep 2009/ Sep 30, 2009 Rp

190,530,982,360 5,149,106,759

181,074,413,011 9,847,857,407

301,026,656,566 65,858,989,516 27,619,026,921 15,653,081,420 605,837,843,542

237,021,886,698 48,788,376,816 27,226,705,367 27,322,150,876 531,281,390,175

Subscription Fees for Cable Television Household Subscribers Commercial and Other Subscribers Subscription Fees for Fast Speed Broadband Internet Data Communication Services Media Sales Others Total

Pendapatan layanan komunikasi data sebagian besar berasal dari pemasangan dan penyewaan jaringan dari jaringan distribusi dan penjualan peralatan akses jaringan korporasi.

Data communication services revenues are derived mainly from installation and rental line fees of the distribution network and selling equipment of corporate access network.

Pemasangan media iklan merupakan pendapatan iklan yang berasal dari pelanggan yang menempatkan iklan pada program televisi kabel.

Media sales fee represent advertising revenues generated from customers who place advertisements on cable television programs.

Pendapatan lain-lain sebagian besar terdiri dari penjualan kabel modem, penyewaan converter dan peralatan, biaya keanggotaan, biaya pemasangan dan jasa terkait lainnya. Rincian pendapatan berdasarkan hubungan pelanggan adalah sebagai berikut:

Other revenues mainly consist of income from the sale of cable modem, converter and equipment rental, joining fee and other related services. The details of revenue based on relationship of subscribers are as follows:

Pihak Hubungan Istimewa (Catatan 26) Pihak Ketiga Jumlah

30 Sep 2010/ Sep 30, 2010 Rp

30 Sep 2009/ Sep 30, 2009 Rp

3,123,664,073 602,714,179,469 605,837,843,542

5,669,614,171 525,611,776,004 531,281,390,175

Jumlah pelanggan televisi kabel Perusahaan (setelah dikurangi pelanggan antenna) adalah sebagai berikut:

The number of cable television subscribers of the Company (after excluding antenna subscribers) is as follows:

30 Sep 2010/ Sep 30, 2010 Rp Pelanggan Rumah Tangga Pelanggan Korporasi Jumlah

Related Party (see Note 26) Third Party Total

30 Sep 2009/ Sep 30, 2009 Rp

135,151 14,186 149,337


39

109,686 15,195 124,881

Household Subscribers Corporate Subscribers Total






23. Beban Layanan

23. Cost of Services 30 Sep 2010/ Sep 30, 2010 Rp

Televisi Kabel Distribusi Program dan Jasa Teknis Tiang Tumpu Internet Pita Lebar Beban Bandwidth Internet Beban Akses Internet Lainnya Beban Sewa Peralatan Internet Layanan Komunikasi Data Beban Instalasi dan Peralatan Pemasangan Media Iklan Beban Produksi dan Lainnya Lain-lain Jumlah

30 Sep 2009/ Sep 30, 2009 Rp

72,865,318,938 2,658,370,297 52,958,287,356 1,759,102,781 10,250,000 217,837,000 1,931,887,941 8,497,028,552 140,898,082,865

Cable Television 141,827,972,143 Programming Distribution and Technical Services 2,546,166,664 Pole and Duct Broadband Internet 63,617,434,075 Internet Bandwidth Fees Other Internet Access 2,114,465,000 Rental Fees of Internet Equipment Data Communication Services 423,026,772 Installation Fees and Equipment Media Sales 7,553,263,031 Production Cost and Others 20,169,957,182 Others 238,252,284,867 Total

24. Beban Penjualan

24. Selling Expense 30 Sep 2010/ Sep 30, 2010 Rp

Gaji dan Kesejahteraan Karyawan Komisi Promosi Pos dan Kurir Perjalanan dan Akomodasi Listrik, Air dan Telepon Perlengkapan Kantor Sewa Lain-lain Jumlah

30 Sep 2009/ Sep 30, 2009 Rp

14,023,520,228 11,917,710,560 6,199,463,675 1,688,712,540 987,083,737 794,737,238 77,300,500 464,112,152 886,485,109 37,039,125,738


40

11,386,182,361 6,594,179,609 12,795,844,045 1,968,922,291 1,071,683,620 1,724,571,532 181,264,900 1,258,313,591 850,210,998 37,831,172,947

Salaries and Employee Benefits Commissions Promotion Postage and Courier Traveling and Accommodation Electricity, Water and Telephone Office Supplies Rent Others Total






25. Beban Umum dan Administrasi

Perizinan Gaji dan Kesejahteraan Karyawan Honorarium Tenaga Ahli Sewa Listrik, Air dan Telepon Amortisasi Aset Tak Berwujud Beban Penyisihan Piutang Ragu-ragu Perjalanan dan Akomodasi Perbaikan dan Pemeliharaan Perlengkapan Kantor Asuransi Lain-lain Jumlah

25. General and Administrative Expenses 30 Sep 2010/ Sep 30, 2010 Rp

30 Sep 2009/ Sep 30, 2009 Rp

87,916,763,236 85,821,781,634 23,174,606,331 19,427,083,687 12,525,783,159 11,354,579,501 2,067,768,596 5,659,142,201 2,839,596,221 2,460,734,892 1,358,554,949 2,018,853,311 256,625,247,717

555,505,962 59,440,715,585 5,886,488,472 20,394,306,169 12,149,744,504 -5,399,357,832 5,907,997,783 2,687,094,724 2,289,787,773 -3,522,761,444 118,233,760,248

Permits and Licenses Salaries and Employee Benefits Professional Fees Rent Electricity, Water and Telephone Amortization of Intangible Assets Bad Debt Expenses Traveling and Accommodation Repairs and Maintenance Office Supplies Insurance Others Total

26. Transaksi dan Saldo dengan Pihak-pihak Yang Memiliki Hubungan Istimewa

26. Transactions and Balances with Related Parties

Dalam kegiatan usaha normal, Perusahaan dan perusahaan anak melakukan transaksi dengan pihak-pihak hubungan istimewa, yang terutama terdiri dari penjualan atau penyediaan jasa, pembelian peralatan dan jasa asuransi yang dilakukan dengan tetap memperhatikan kebijakan harga yang sama dengan pihak ketiga (arm's length basis), dan uang muka antar perusahaan.

The Company and subsidiaries in their normal course of business, have engaged in transactions with related parties mainly consisting of sales or providing services, purchasing equipment and insurance services which are made on an arm’s length basis, and intercompany advances.

Rincian akun dan transaksi dengan pihak-pihak yang mempunyai hubungan istimewa adalah sebagai berikut:

The details of the accounts and transactions with related parties are as follows:


41






Jumlah/ Total

30 Sep 2010/ Sep 30, 2010 Rp Investasi Jangka Pendek PT Ciptadana Capital

Persentase Terhadap Jumlah Aset/Kewajiban/ Pendapatan/Beban yang Bersangkutan/ Percentage of Total Respective Assets/Liabilities/ Revenue/Expenses 30 Sep 2010/ 30 Sep 2009/ Jun 30, 2010 Jun 30, 2009 % %

30 Sep 2009/ Jun 30, 2009 Rp

45,000,000,000

-

2.733

--

Short-term Investments PT Ciptadana Capital

25,000,000 25,000,000

25,000,000 25,000,000

0.00 0.002

0.00 0.002

Investment in Shares of Stock PT Wireless Vision Total

Piutang Usaha PT Almaron Perkasa PT Matahari Putra Prima Tbk PT Jakarta Globe Media PT Sanggraha Nusa Raya PT Lippo Karawaci Tbk PT Visionet International Yayasan Pelita Harapan Lain-lain Jumlah

9,637,920,000 1,702,597,802 115,500,000 739,912,331 459,950,039 582,642,584 99,042,581 1,054,836,395 14,392,401,733

10,455,480,000 1,164,944,697 470,705,376 2,701,953,026 516,936,524 -3,615,709,459 669,669,576 19,595,398,658

0.59 0.10 0.01 0.04 0.03 0.04 0.01 0.06 0.87

0.74 0.08 0.03 0.19 0.04 -0.26 0.05 1.40

Accounts Receivable PT Almaron Perkasa PT Matahari Putra Prima Tbk PT Jakarta Globe Media PT Sanggraha Nusa Raya PT Lippo Karawaci Tbk PT Visionet International Yayasan Pelita Harapan Others Total

Piutang Hubungan Istimewa PT Direct Vision PT Asianet Multimedia PT Multipolar Tbk PT Wireless Vision Lain-lain Jumlah Penyisihan Piutang Ragu-ragu Bersih

11,625,064,078 1,798,505,064 45,009,344 -22,198,980 13,490,777,466 (11,780,061,235) 1,710,716,231

12,338,364,768 1,828,785,165 45,009,344 6,094,349,915 1,502,216 20,308,011,408 (6,344,543,991) 13,963,467,417

0.71 0.11 0.00 -0.00 0.82 (0.72) 0.10

0.88 0.13 0.00 0.43 0.00 1.45 (0.45) 0.99

Due from Related Parties PT Direct Vision PT AsiaNet Multimedia PT Multipolar Tbk PT Wireless Vision Others Total Allowance for Doubtful Account Net

Uang Muka PT Multipolar Tbk

0.11 17,769,492,852

1,306,662,737

1.08

0.09

Advances PT Multipolar Tbk

3,830,054,577 212,644,308 785,330,415 1,101,707,018 110,505,152 6,040,241,470

5,615,702,013 1,788,150,408 296,082,201 1,879,777,428 146,145,368 9,725,857,418

0.43 0.02 0.09 0.12 0.01 0.68

0.51 0.16 0.03 0.17 0.01 0.87

Accounts Payable PT Multipolar Tbk PT Galeri Investor Indonesia PT Matahari Putra Prima Tbk PT Sanggraha Nusa Raya Others Total

-- 196,500,000,000 -- 33,883,500,000 -- 230,383,500,000

----

17.68 3.05 20.72

Bearer Notes PT Ciptadana Capital PT Ciptadana Securities Total

Investasi Saham PT Wireless Vision Jumlah

Hutang Usaha PT Multipolar Tbk PT Galeri Investor Indonesia PT Matahari Putra Prima Tbk PT Sanggraha Nusa Raya Lain-lain Jumlah Surat Promes Atas Unjuk PT Ciptadana Capital PT Ciptadana Securities Jumlah Hutang Sewa Pembiayaan PT Ciptadana Multifinance Kewajiban Anjak Piutang PT Ciptadana Multifinance

12,552,672,288

25,762,643,399

1.41

2.32

Finance Lease Payable PT Ciptadana Multifinance

--

20,000,000,000

--

1.72

Factoring Payable PT Ciptadana Multifinance


42






Jumlah/ Total

30 Sep 2010/ Sep 30, 2010 Rp

Pendapatan: Jasa Langganan Televisi Kabel PT Sanggraha Nusa Raya PT Lippo Karawaci Tbk Jumlah Layanan Komunikasi Data Yayasan Pelita Harapan PT Matahari Putra Prima Tbk PT Visionet International PT Lippo Karawaci Tbk PT Jakarta Globe Media Lain-lain Jumlah Pembuatan Iklan Yayasan Pelita Harapan PT Lippo Karawaci Tbk Lain-lain Jumlah

Persentase Terhadap Jumlah Aset/Kewajiban/ Pendapatan/Beban yang Bersangkutan/ Percentage of Total Respective Assets/Liabilities/ Revenue/Expenses 30 Sep 2010/ 30 Sep 2009/ Jun 30, 2010 Jun 30, 2009 % %

30 Sep 2009/ Jun 30, 2009 Rp

618,851,825 278,564,072 897,415,897

907,978,500 695,208,252 1,603,186,752

0.10 0.05 0.15

0.17 0.13 0.30

Revenues: Subscription Fees for Cable Television PT Sanggraha Nusa Raya PT Lippo Karawaci Tbk Total

707,000,000 113,379,296 524,000,000 618,868,880 -263,000,000 2,226,248,176

859,677,419 735,400,000 653,000,000 421,000,000 309,250,000 -2,978,327,419

0.12 0.02 0.09 0.10 -0.04 0.37

0.16 0.14 0.12 0.12 0.06 -0.60

Data Communication Services Yayasan Pelita Harapan PT Matahari Putra Prima Tbk PT Visionet International PT Lippo Karawaci Tbk PT Jakarta Globe Media Others Total

-----

234,500,000 270,000,000 83,600,000 588,100,000

-----

0.04 0.05 0.02 0.11

Advertising Production Services Yayasan Pelita Harapan PT Lippo Karawaci Tbk Lain-lain Total

Beban Umum dan Administrasi Honorarium Tenaga Ahli PT Visionet International

263,295,246

254,837,677

0.10

0.22

General and Administrative Expenses - Professional Fees PT Visionet International

Biaya Pengelolaan Administrasi Saham PT Sharestar Indonesia

242,224,650

--

0.09

--

Shares Administration Fees PT Sharestar Indonesia

Beban Asuransi PT Lippo General Insurance Tbk

259,580,175

468,952,677

0.10

0.40

Insurance Expense PT Lippo General Insurance Tbk

Beban Sewa PT Matahari Putra Prima Tbk

--

337,500,000

--

0.29

Rental Expense PT Matahari Putra Prima Tbk

Beban Perjalanan PT Sanggraha Nusa Raya

--

402,444,628

--

0.34

Travelling Expense PT Sanggraha Nusa Raya

12,493,050,000 415,863,596 1,095,746,750 14,004,660,346

25,499,133,333 -2,631,253,375 28,130,386,708

21.76 0.72 1.91 24.39

90.26 -9.31 99.57

Interest and Other Financing Charges PT Ciptadana Capital PT Ciptadana Multifinance PT Ciptadana Securities Total

Beban Bunga dan Pendanaan Lainnya PT Ciptadana Capital PT Ciptadana Multifinance PT Ciptadana Securities Jumlah

Hubungan dan jenis transaksi dengan pihak yang memiliki hubungan istimewa sebagai berikut:

The relationship and nature of transactions with related parties are described as follows:


43





No.

Pihak yang Memiliki Hubungan Istimewa/ Related Parties


Hubungan dengan Perusahaan/Relationship with the Company

Transaksi/Transaction

1

PT Asianet Multimedia

Afiliasi karena di bawah kesamaan pengendalian/ Affiliated, common controlled entity

Uang muka antar perusahaan/ Intercompany advances

2

PT Sanggraha Nusa Raya


Jasa langganan televisi kabel/ Subscription fees for cable television

3

PT Lippo General Insurance Tbk


Asuransi/ Insurance

4

PT Lippo Karawaci Tbk (LK)


Jasa langganan televisi kabel dan layanan komunikasi data/ Subscription fees for cable television and data communication services

5

PT Matahari Putra Prima Tbk


Layanan komunikasi data/ Data communication services

6

PT Multipolar Tbk (MLPL)


Pemasangan dan penyewaan jaringan dan akses jaringan korporasi, uang muka antar perusahaan dan jasa tenaga ahli untuk implementasi sistem keuangan Oracle/ Installation and lease line and corporate network, intercompany advances and professional fees for implementation of Oracle financial system.

7

PT Direct Vision

Asosiasi melalui PT Ayunda Uang muka antar perusahaan dan investasi saham/ Prima Mitra, perusahaan Intercompany advances and investment in shares of stock anak/ Associated, PT Ayunda Mitra Prima, a subsidiary

8

PT Wireless Vision

Afiliasi melalui investasi Uang muka antar perusahaan dan investasi saham/ saham/ Affiliate, investment Intercompany advances and investment in shares of stock in shares of stock

9

PT Visionet Internasional

Afiliasi karena perusahaan Penyewaan sistem keuangan Oracle dan layanan anak MLPL/ Affiliate,MLPL’s komunikasi data/ Oracle financial system rental and data subsidiary communication services

10

PT Almaron Perkasa

11

PT Galeri Investor Indonesia

Afiliasi karena anak Layanan komunikasi data/ Data communication services perusahan LK/ Affiliate,LK’s subsidiary Afiliasi karena di bawah Iklan dan percetakan/ Advertising and printing kesamaan pengendalian/ Affiliated, common controlled entity


44




Untuk Periode 9 (Sembilan) Bulan yang Berakhir pada 30 September 2010 dan 2009 (Tidak Diaudit) (Dalam Rupiah Penuh) No.

Pihak yang Memiliki Hubungan Istimewa/ Related Parties


Hubungan dengan Perusahaan/Relationship with the Company

Transaksi/Transaction

12

Yayasan Pelita Harapan


Layanan komunikasi data dan pemasangan iklan/ Data communication services and insertion

13

PT Multifiling Mitra Indonesia

Afiliasi karena perusahaan anak MLPL/ Affiliate, MLPL’s subsidiary

Jasa penyimpanan data/ Filing fees

14

PT Ciptadana Capital


Surat promes atas unjuk/ Bearer notes

15

PT Ciptadana Securities


Surat promes atas unjuk/ Bearer notes

16

PT Ciptadana Multifinance


Anjak piutang dan sewa pembiayaan/ Factoring and leasing

17

PT Sharestar Indonesia

Afiliasi karena perusahaan anak MLPL/ Affiliate, MLPL’s subsidiary

Biaya pengelolaan administration fees

18

PT Jakarta Globe Media


27. Peristiwa Setelah Tanggal Neraca

administrasi

saham/

Shares

Layanan komunikasi data/ Data communication services

27. Subsequent Event

Perusahaan telah menandatangani Facility Agreement dengan Raiffeisen Zentralbank Osterreich AG (Bank RZB), cabang Labuan sebagai Original Lender dan Bank RZB, cabang Singapura sebagai Arranger, Facility Agent dan Security Agent dengan total komitmen fasilitas sebesar USD 20.000.000 dengan tingkat suku bunga sebesar COF + 3% pada tanggal 30 September 2010. Perusahaan telah menarik fasilitas tersebut pada tanggal 1 Oktober 2010.

The Company has entered into a Facility Agreement with Raiffeisen Zentralbank Osterreich AG (RZB Bank), Labuan branch as Original Lender and RZB Bank, Singapore branch as Arranger, Facility Agent and Security Agent with total facility commitment of USD 20,000,000 and interest of COF + 3% on September 30, 2010. The Company has withdrawn the facility on October 1, 2010.

Pada tanggal 1 Oktober 2010, Perusahaan telah menandatangani nota kesepakatan senilai USD 20.000.000 dengan PT Nap Info Lintas Nusa untuk langganan jasa Sistem Komunikasi Kabel Laut (SKKL) dengan kapasitas sebesar 10 Gbps untuk jangka waktu 15 tahun dengan hak untuk memperpanjang selama 5 tahun.

On October 1, 2010, the Company has signed a Memorandum of Understanding (MOU) worth USD 20,000,000 with PT Nap Info Lintas Nusa for a submarine cable communication system with a capacity of 10 Gbps for a period of 15 years with an extension right for another 5 years.

Pada bulan Oktober 2010, Perusahaan telah memperoleh

In October 2010, the Company has obtained a sale and


45






fasilitas sewa guna usaha (sale and leaseback) senilai Rp 10.000.000.000 dengan tingkat suku bunga sebesar 16% dan dengan jangka waktu selama 3 tahun dari PT Ciptadana Multifinance, pihak yang memiliki hubungan istimewa.

leaseback facility of Rp 10,000,000,000 with interest rate of 16% and for a period of 3 years from PT Ciptadana Multifinance, a related party.

Perusahaan pada bulan Oktober 2010 melakukan pembayaran sebesar USD 20.000.000 atas pinjaman yang diperoleh dari Falcon Private Bank Ltd, cabang Singapura pada tanggal 23 November 2009.

The Company in October 2010 has made a total payment of USD 20,000,000 for a facility obtained from Falcon Private Bank Ltd, Singapore branch on November 23, 2009.

Perusahaan pada bulan Oktober 2010 telah melakukan penarikan sebesar Rp 5.000.000.000 atas fasilitas pinjaman yang telah diperoleh dari PT Bank Sinarmas pada tanggal 16 Desember 2009.

The Company in October 2010 has withdrawn a total of Rp 5,000,000,000 from a facility obtained from PT Bank Sinarmas on December 16, 2009.

Pada bulan Oktober 2010 Perusahaan telah memperoleh fasilitas hedging USD/IDR Seagull dari Morgan Stanley & Co International Plc untuk perlindungan kurs tukar mata uang USD/IDR senilai USD 20.000.000

In October 2010 the Company has obtained a USD/IDR Seagull hedging facility from Morgan Stanley & Co International Plc for a foreign exchange protection (USD/IDR) worth USD 20,000,000.

Pada tanggal 1 Oktober 2010, Perusahaan telah memperoleh Indefeasible Right of Use (IRU) dari PT Nap Info Lintas Nusa untuk sistem komunikasi kabel laut (SKKL) dengan kapasitas sebesar 10 Gbps senilai USD 20,000,000 untuk jangka waktu 15 tahun dan hak untuk memperpanjang selama 5 tahun.

In October 1, 2010, the Company had obtained Indefeasible Right of Use (IRU) from PT Nap Info Lintas Nusa for sea cable coomunication system (SKKL) with capacity of 10 Gbps amounting USD 20,000,000 for period of 15 yaers and right to extend for 5 years.

28. Tanggung Jawab Manajemen atas Laporan Keuangan Konsolidasian

28. Management Responsibility on the Consolidated Financial Statements

Manajemen Perusahaan bertanggung jawab atas penyusunan laporan keuangan konsolidasian yang diselesaikan pada tanggal 29 Oktober 2010.

The management of the Company is responsible for the preparation of the consolidated financial statements that were completed on October 29, 2010


46


PT FIRST MEDIA Tbk DAN PERUSAHAAN ANAK. PT FIRST MEDIA Tbk AND SUBSIDIARIES

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