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  • Draft Final/April 4, 2014 Paraf:

    PT MULTIPOLAR TECHNOLOGY Tbk

    AND SUBSIDIARIES

    Consolidated Financial Statements For the Years Ended December 31, 2013 and 2012

  • d1/04 April 2014 Paraf:

    PT MULTIPOLAR TECHNOLOGY Tbk

    AND SUBSIDIARIES

    Table of Contents Page Board of Directors’ Statement Independent Auditor’s Report

    Consolidated Financial Statements For the Years Ended December 31, 2013 and 2012

    Consolidated Statements of Financial Position 1 Consolidated Statements of Comprehensive Income 3 Consolidated Statements of Changes in Equity 4 Consolidated Statements of Cash Flows 5 Notes to Consolidated Financial Statements 6

  • The accompanying notes form an integral part of these consolidated financial statements

    d1/04/04/2014 1 Paraf:

    PT MULTIPOLAR TECHNOLOGY Tbk AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

    December 31, 2013 and 2012 (Expressed in thousands of Indonesian Rupiah, except for share data)

    Notes Dec 31, 2013 Dec 31, 2012

    ASSETS

    CURRENT ASSETS

    Cash and cash equivalents 2c,2d,2n,2s,3,26,27,31 231,482,762 178,727,259

    Trade receivables 2d,2n,2u,4,27,31

    Related parties 2s,26 152,131,800 87,898,019

    Third parties 144,508,474 74,619,254

    Other current financial assets 2d,2n,2s,5,26,27,31 16,079,422 10,982,211

    Inventories 2f,6,23 211,974,568 178,899,491

    Prepaid taxes 2o,15a 26,746,631 21,236,259

    Prepaid expenses 2g,2s,26 5,573,661 8,995,018

    Other current assets 2n,7,27 64,727,531 49,990,789

    Total current assets 853,224,849 611,348,300

    NON-CURRENT ASSETS

    Due from related parties non-trade 2d,2n,2s,26,27,31 33,775,749 32,732,094

    Other non-current financial assets 2d,2n,8,27,31 292,448 34,544,239

    Investment properties 2h,9 45,138,500 45,138,500

    Fixed assets 2e,2i,2j,2s,10,16,26 260,265,537 217,787,360

    Intangible assets 2k,11 32,133,886 34,487,473

    Goodwill 2t - 1,645,006

    Deferred tax assets 2o,15d 9,369,303 8,359,501

    Other non-current assets 2s,12,26 12,287,421 18,203,521

    Total non-current assets 393,262,844 392,897,694

    TOTAL ASSETS 1,246,487,693 1,004,245,994

  • The accompanying notes form an integral part of these consolidated financial statements

    d1/04/04/2014 2 Paraf:

    PT MULTIPOLAR TECHNOLOGY Tbk AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (continued)

    December 31, 2013 and 2012 (Expressed in thousands of Indonesian Rupiah, except for share data)

    Notes Dec 31, 2013 Dec 31, 2012

    LIABILITIES AND EQUITY

    LIABILITIES

    CURRENT LIABILITIES

    Short-term loans 2d,2n,2s,16,26,27,31 8,370,712 4,627,190

    Trade payables 2d,2n,13,27,31

    Related parties 2s,26 30,230,834 46,300,614

    Third parties 145,640,473 118,114,195

    Other financial liabilities 2d,2n,2s,26,27,31 1,587,602 9,076,286

    Accrued expenses 2d,14,31 263,601,283 184,288,755

    Taxes payable 2o,15b,31 17,250,833 5,527,997

    Short-term employee benefits liabilities 2p,18,31 16,165,618 14,060,787

    Current maturities of bank loans

    and other financial institution 2d,2e,2n,16,27,31 68,608,057 87,848,439

    Advance from customers 2s,17,26 99,548,579 106,427,916

    Unearned revenue 2s,26 9,875,539 7,091,065

    Total current liabilities 660,879,530 583,363,244

    NON-CURRENT LIABILITIES

    Due to related parties non-trade 2d,2n,2s,26,27,31 30,212,198 110,243,014

    Long-term employee benefits liabilities 2p,18 37,009,838 27,905,251

    Long-term bank loans and other

    financial institution-net of current

    maturities 2d,2e,2n,16,27,31 68,379,017 83,248,144

    Deferred tax liabilities 2o,15d 6,422,476 5,175,091

    Total non-current liabilities 142,023,529 226,571,500

    Total Liabilities 802,903,059 809,934,744

    EQUITY

    Share capital - par value Rp100 per share

    Authorized capital - 6,000,000,000 shares

    Issued and fully paid capital -

    1,875,000,000 shares in 2013 and

    1,500,000,000 shares in 2012 19 187,500,000 150,000,000

    Additional paid-in capital 2l,20 139,690,922 -

    2l,33 - (5,676,113)

    Retained earnings 89,916,442 33,220,585

    Total equity attributable to owners of

    parent entity 417,107,364 177,544,472

    Non-controlling interest 21 26,477,270 16,766,778

    Total Equity 443,584,634 194,311,250

    TOTAL LIABILITIES AND EQUITY 1,246,487,693 1,004,245,994

    Difference in value of restructuring transactions of

    entities under common control

  • The accompanying notes form an integral part of these consolidated financial statements

    d1/04/04/2014 3 Paraf:

    PT MULTIPOLAR TECHNOLOGY Tbk AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

    For the Years Ended December 31, 2013 and 2012 (Expressed in thousands of Indonesian Rupiah, except for earnings per share)

    Notes 2013 2012

    2m,2s,22,26 1,505,029,935 1,337,515,793

    COST OF GOODS SOLD AND SERVICES 2m,2s,23,26 (1,333,446,352) (1,198,054,493)

    GROSS PROFIT 171,583,583 139,461,300

    Selling expenses 2m,2s,24,26 (41,595,579) (24,778,783)

    General and administrative expenses 2m,2s,25,26 (59,757,864) (55,652,044)

    Other income 2m,2n 18,107,206 4,768,788

    Other expenses 2m,2n (1,273,553) (225,811)

    OPERATING PROFIT 87,063,793 63,573,450

    Interest income 2m,2s,26 4,540,345 2,111,297

    Interest expense 2m,2s,26 (22,194,884) (22,518,689)

    PROFIT BEFORE INCOME TAX 69,409,254 43,166,058

    INCOME TAX EXPENSES 2o,15c (16,552,919) (1,937,456)

    PROFIT FOR THE YEAR BEFORE

    EFFECT OF PROFORMA ADJUSTMENTS 52,856,335 41,228,602

    EFFECT OF PROFORMA ADJUSTMENTS 33 - (12,719,456)

    PROFIT FOR THE YEAR AFTER

    EFFECT OF PROFORMA ADJUSTMENTS 52,856,335 28,509,146

    Other comprehensive income - -

    TOTAL COMPREHENSIVE INCOME

    FOR THE YEAR 52,856,335 28,509,146

    Income for the year

    attributable to:

    Owners of the parent entity 56,695,857 30,246,011

    Non-controlling interest 2b (3,839,522) (1,736,865)

    52,856,335 28,509,146

    Total comprehensive income

    attributable to:

    Owners of the parent entity 56,695,857 30,246,011

    Non-controlling interest 2b (3,839,522) (1,736,865)

    52,856,335 28,509,146

    Basic Earnings per Share 2r,28 34 38

    NET SALES AND SERVICE REVENUES

  • The accompanying notes form an integral part of these consolidated financial statements

    d1/04/04/2014 4 Paraf:

    PT MULTIPOLAR TECHNOLOGY Tbk AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

    For the Years Ended December 31, 2013 and 2012 (Expressed in thousands of Indonesian Rupiah)

    Difference in Value

    of Restructuring Total Equity

    Transactions of Attributable to

    Additional Entities Under Owners of Parent Non-controlling

    Notes Share Capital Paid-in Capital Common Control Retained Earnings Entity Interest Total Equity

    BALANCE AS OF JANUARY 1, 2012 80,000,000 - - 2,974,574 82,974,574 - 82,974,574

    Capital contribution 19 70,000,000 - - - 70,000,000 - 70,000,000

    Comprehensive income for the year - - - 30,246,011 30,246,011 (1,736,865) 28,509,146

    Changes of non-controlling interest - - - - - 18,503,643 18,503,643

    Difference in value of restructuring transactions

    of entities under common control 33 - - (5,676,113) - (5,676,113) - (5,676,113)

    BALANCE AS OF DECEMBER 31, 2012 150,000,000 - (5,676,113) 33,220,585 177,544,472 16,766,778 194,311,250

    Issuance of new share through

    Initial Public Offering 37,500,000 142,500,000 - - 180,000,000 - 180,000,000

    Stock issuance costs 20 - (2,676,081) - - (2,676,081) - (2,676,081)

    Comprehensive income for the year -