COMPANY REPORT

ASRI
ALAM SUTERA REALTY TBK.

Company Profile

PT Alam Sutera Realty Tbk. was established on November 3rd, 1993. The Company
commenceditsoperationalactivityandpurchasedthelandin1999.

The Companys activities are developing and manage housing. The Company and its
subsidiariesdomiciledatWismaArgoManunggal,Jln.Jend.GatotSubrotoKav.22,Jakarta.
The Company owns land for development located at Serpong, Kabupaten Tangerang,
ProvinceofBantenandCianjur,ProvinceofWestJavaandstillonpurchasesoflandstage
forAlamSuteraResidentialprojectandownsseveralsubsidiaries.

ThemainrealestateprojectacquiredbytheCompanyandSubsidiariesrecentlyareAlam
SuteraResidentialprojectandSvarnaPadiprojectatPasarKemis,Tangerang.

AlamSuterabelievesthatallthedevelopmenteffortsmusttakeenvironmentalissuesinto
accountseriously.Theecofriendlydevelopmentmeantmorethanamarketinggimmick
it is the companys commitment. The Company is committed to do their part in the
handling of millions of tons of pollution in their environment every day, by setting an
examplehowtodevelopasustainablegreencommunity.

The Company has direct ownership in subsidiaries: PT Delta Mega Persada, PT Duta
Prakarsa Development, PT Nusa Cipta Pratama, PT Garuda Adhimatra Indonesia, and PT
TangerangMatraRealEstate.

TheCompanyandsubsidiarieshad1,261employeesasofDecember31th,2013.

January 2014

Disclaimer:
The facts and opinions stated or expressed in this publication are for information purposes only and are not necessarily and must not be relied upon as being those of the publisher or
of the institutions for which the contributing authors work. Although every care has been taken to ensure the accuracy of the information contained within the publication it should not be
by any person relied upon as the basis for taking any action or making any decision. The Indonesia Stock Exchange cannot be held liable or otherwise responsible in anyway for any
advice action taken or decision made on the basis of the facts and opinions stated or expressed or stated within this publication.
 ASRI Alam Sutera Realty Tbk. [S]
COMPANY REPORT : JANUARY 2014 As of 30 January 2014
Main Board Individual Index : 485.714
Industry Sector : Property, Real Estate And Building Construction (6) Listed Shares : 19,649,411,888
Industry Sub Sector : Property And Real Estate (61) Market Capitalization : 10,021,200,062,880
76 | 10.0T | 0.23% | 82.63%

17 | 17.1T | 1.55% | 48.48%

COMPANY HISTORY SHAREHOLDERS (January 2014)

Established Date : 03-Nov-1993 1. PT Manunggal Prime Development 5,225,856,000 : 26.60%
Listing Date : 18-Dec-2007 2. Tangerang Fajar Industrial Estate 2,982,450,000 : 15.18%
Under Writer IPO : 3. PT Tangerang Fajar Industrial Estate 1,971,650,000 : 10.03%
PT Ciptadana Securities 4. Public (<5%) 9,469,455,888 : 48.19%
Securities Administration Bureau :
PT Raya Saham Registra DIVIDEND ANNOUNCEMENT
Plaza Central Building 2nd Fl. Bonus Cash Recording Payment
F/I
Jln. Jend. Sudirman Kav. 47 - 48 Jakarta 12930 Year Shares Dividend Cum Date Ex Date Date Date
Phone : (021) 252-5666 2008 0.69 03-Jul-09 06-Jul-09 09-Jul-09 24-Jul-09 F
Fax : (021) 252-5028 2009 1.05 20-Jul-10 21-Jul-10 23-Jul-10 06-Aug-10 F
2010 4.03 01-Jul-11 04-Jul-11 06-Jul-11 20-Jul-11 F
BOARD OF COMMISSIONERS 2011 6.13 05-Jul-12 06-Jul-12 10-Jul-12 24-Jul-12 F
1. Marzuki Usman 2012 14.60 25-Jun-13 26-Jun-13 28-Jun-13 12-Jul-13 F
2. Angeline Sutedja
3. Kristianto Sudiono ISSUED HISTORY
4. Pingki Elka Pangestu *) Listing Trading
5. Prasasto Sudyatmiko *) No. Type of Listing Shares Date Date
*) Independent Commissioners 1. First Issue 3,142,000,000 18-Dec-07 18-Dec-07
2. Company Listing 13,986,810,000 18-Dec-07 18-Aug-08
BOARD OF DIRECTORS 3. Warrant 4,974,500 11-Jun-09 11-Jun-09
1. Harjanto Tirtohadiguno 4. Warrant 40,050,000 18-Jun-09 18-Jun-09
2. Andrew Charles Walker 5. Warrant 1,000,000 19-Jun-09 19-Jun-09
3. Joseph Sanusi Tjong 6. Warrant 18,500,000 22-Jun-09 22-Jun-09
4. Lilia Setiprawarti Sukotjo 7. Warrant 20,000,000 28-Jul-09 28-Jul-09
5. Soelaeman Soemawinata 8. Warrant 250,000 12-Oct-09 12-Oct-09
9. Warrant 3,325,000 14-Oct-09 14-Oct-09
AUDIT COMMITTEE 10. Warrant 55,000,000 23-Oct-09 23-Oct-09
1. Prasasto Sudyatmiko 11. Warrant 45,500,000 27-Oct-09 27-Oct-09
2. Agus R. Panjaitan 12. Warrant 27,500,000 28-Oct-09 28-Oct-09
3. Satino 13. Warrant 63,108,500 29-Oct-09 29-Oct-09
14. Warrant 15,000,000 03-Nov-09 03-Nov-09
CORPORATE SECRETARY 15. Warrant 60,000,000 24-Nov-09 24-Nov-09
Hendra Kurniawan 16. Warrant 27,500,000 26-Nov-09 26-Nov-09
17. Warrant 388 03-Dec-09 03-Dec-09
HEAD OFFICE 18. Warrant 27,500,000 10-Dec-09 10-Dec-09
Wisma Argo Manunggal 18th Fl. 19. Warrant 277,976,000 14-Dec-09 14-Dec-09
Jln. Jend. Gatot Subroto Kav. 22 20. Warrant 15,000,000 15-Dec-09 15-Dec-09
Jakarta - 12930 21. Warrant 1,695,000 21-Dec-09 21-Dec-09
Phone : (021) 531-40628, 252-3838 22. Warrant 30,412,500 28-Dec-09 28-Dec-09
Fax : (021) 252-5050 23. Additional Listing without RI 1,786,310,000 25-Jan-12 25-Jan-12

Homepage : www.alam-sutera.com
Email : corsec@alam-sutera.com
 ASRI Alam Sutera Realty Tbk. [S]
TRADING ACTIVITIES
Closing Price* and Trading Volume
Alam Sutera Realty Tbk. [S] Closing Price Freq. Volume Value

Day
Closing Volume
Price* January 2010 - January 2014 (Mill. Sh) Month High Low Close (X) (Thou. Sh.) (Million Rp)
1,200 7,200 Jan-10 118 103 109 10,132 1,684,788 184,241 20
Feb-10 141 108 136 23,405 4,589,029 592,735 19
1,050 6,300 Mar-10 171 132 164 18,621 3,365,306 497,356 22
Apr-10 225 164 215 36,473 5,312,287 1,058,509 21
May-10 225 132 170 34,855 9,896,529 1,842,298 19
900 5,400
Jun-10 195 162 183 17,755 2,199,381 391,028 22
Jul-10 220 178 205 16,716 2,882,832 575,462 22
750 4,500
Aug-10 210 177 178 18,700 1,740,934 336,021 21
Sep-10 210 180 205 25,103 2,333,177 455,386 17
600 3,600
Oct-10 290 200 265 27,171 3,606,905 906,899 21
Nov-10 320 265 280 19,783 2,309,919 673,270 21
450 2,700 Dec-10 310 275 295 12,442 1,004,337 295,880 20

300 1,800 Jan-11 310 230 245 19,196 1,651,106 445,752 21

Feb-11 255 225 245 9,005 590,906 142,983 18
150 900 Mar-11 290 240 285 12,373 937,975 249,543 23
Apr-11 305 265 295 10,749 1,006,591 287,673 20
May-11 325 280 310 12,896 1,311,172 398,549 21
Jun-11 345 305 325 12,324 1,143,722 370,811 20
Jan-10 Jan-11 Jan-12 Jan-13 Jan-14
Jul-11 450 315 420 21,840 2,374,352 899,084 21
Aug-11 450 360 420 24,237 2,168,218 894,522 19
Sep-11 440 340 385 25,423 2,016,360 811,334 20
Closing Price*, Jakarta Composite Index (IHSG) and Oct-11 500 340 435 45,657 3,459,789 1,508,461 21
Property, Real Estate and Bulding Construction Index Nov-11 470 395 425 31,786 2,106,554 934,363 22
January 2010 - January 2014 Dec-11 480 430 460 18,406 1,383,018 628,154 21
980%
Jan-12 520 455 485 24,608 3,163,247 1,462,365 21
840% Feb-12 610 480 570 26,234 3,013,912 1,651,814 21
Mar-12 630 560 620 22,571 2,116,918 1,272,835 21
700% Apr-12 650 560 600 28,484 1,831,503 1,099,178 20
May-12 620 510 540 22,850 1,453,973 832,432 21
560% Jun-12 570 455 490 27,226 4,923,539 2,336,855 21
Jul-12 520 455 460 27,925 1,557,100 754,451 22
Aug-12 495 430 440 28,541 1,985,545 910,746 19
420%
385.7% Sep-12 520 410 495 30,974 2,734,556 1,274,455 20
Oct-12 580 470 580 26,538 2,210,093 1,173,362 22
280%
Nov-12 620 550 610 15,187 2,653,169 1,535,319 20
Dec-12 640 550 600 15,745 1,766,756 1,065,978 18
140% 149.6%
71.6% Jan-13 810 600 770 28,260 2,758,752 2,724,524 21
- Feb-13 970 750 930 26,881 1,503,613 1,299,168 20
Mar-13 1,160 930 1,070 36,275 2,093,327 2,178,327 19
-140% Apr-13 1,090 970 1,050 41,384 2,555,637 2,636,209 22
Jan 10 Jan 11 Jan 12 Jan 13 Jan 14 May-13 1,130 1,020 1,060 43,176 2,136,655 2,296,257 22
Jun-13 1,080 720 750 65,671 4,696,607 4,021,982 19
Jul-13 800 650 700 45,919 1,984,976 1,452,171 23
SHARES TRADED 2010 2011 2012 2013 Jan-14 Aug-13 830 445 550 45,493 2,264,238 1,407,217 17
Volume (Million Sh.) 40,925 20,150 29,410 31,672 2,182 Sep-13 760 450 600 58,331 3,063,421 1,822,815 21
Value (Billion Rp) 7,809 7,571 15,370 24,781 1,084 Oct-13 700 560 610 43,176 4,867,653 3,050,634 21
Frequency (Thou. X) 261 244 297 511 54 Nov-13 610 455 475 43,705 2,060,989 1,091,598 20
Days 245 247 246 244 20 Dec-13 530 425 430 32,921 1,686,157 800,565 19

Price (Rupiah) Jan-14 550 424 510 53,655 2,182,118 1,083,703 20

High 320 500 650 1,160 550
Low 103 225 410 425 424
Close 295 460 600 430 510
Close* 295 460 600 430 510

PER (X) 18.14 13.63 9.69 7.30 8.66

PER Industry (X) 9.97 11.09 17.34 17.79 16.27
PBV (X) 2.39 2.95 2.49 1.59 1.88
* Adjusted price after corporate action
 ASRI Alam Sutera Realty Tbk. [S]
Financial Data and Ratios Book End : December
Public Accountant : Paul Hadiwinata, Hidajat, Arsono, Ade Fatma & Rekan (Member of PKF International Ltd)

BALANCE SHEET Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 TOTAL ASSETS AND LIABILITIES (Bill. Rp)
(Million Rp except Par Value) Assets Liabilities
Cash & Cash Equivalents 430,593 732,357 844,906 1,641,316 890,181 15,000

Receivables 25,512 14,693 21,596 29,721 84,690

1,841,950 2,186,131 2,395,213 1,661,094 937,153 12,000
Inventories
Investment - 28,827 57,476 - 312,000
9,000
Fixed Assets 50,900 148,063 341,514 708,121 801,678
Other Assets 72,449 322,433 806,319 11,619 61,186
6,000
Total Assets 3,559,965 4,587,986 6,007,548 10,946,417 14,428,083
Growth (%) 28.88% 30.94% 82.21% 31.81% 3,000

Bank Payable - 554,227 795,658 45,000 -

Trade Payable 19,063 26,212 35,519 35,257 165,089 2009 2010 2011 2012 2013
Total Liabilities 1,624,837 2,371,566 3,220,676 6,214,543 9,096,298
Growth (%) 45.96% 35.80% 92.96% 46.37%
TOTAL EQUITY (Bill. Rp)
Authorized Capital 2,400,000 24,000 2,400,000 2,400,000 2,400,000 5,332
Paid up Capital 1,786,310 1,786,310 1,786,310 1,964,941 1,964,941 5,332

4,732
Paid up Capital (Shares) 17,863 17,863 17,863 19,649 19,649
Par Value 100 100 100 100 100
4,244

Retained Earnings 167,392 448,273 977,938 2,050,204 2,640,107

3,156 2,787
Total Equity 1,927,423 2,208,305 2,786,872 4,731,875 5,331,785 2,208
14.57% 26.20% 69.79% 12.68% 1,927
Growth (%) 2,069

INCOME STATEMENTS Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 981

Total Revenues 403,627 765,213 1,381,046 2,446,414 3,684,240

Growth (%) 89.58% 80.48% 77.14% 50.60%
-107

2009 2010 2011 2012 2013

Cost of Revenues 241,599 349,046 566,656 979,517 1,846,814

Gross Profit 162,029 416,167 814,391 1,466,897 1,837,425
TOTAL REVENUES (Bill. Rp)
Operating Expenses 51,388 73,088 120,770 212,884 304,204
Operating Profit 110,641 343,079 693,620 1,254,013 1,533,221 3,684
3,684

Growth (%) 210.08% 102.18% 80.79% 22.27%

2,933

2,446
Other Income (Expenses) 7,170 -12,897 -22,477 90,182 -451,445
Income before Tax 117,811 330,182 671,143 1,344,195 1,081,776 2,181

Tax 23,634 39,287 68,407 128,103 192,199 1,381

Profit for the period 94,177 290,895 602,737 1,216,092 889,577
1,429

765
Growth (%) 208.88% 107.20% 101.76% -26.85%
678
404

Period Attributable 94,177 290,484 601,654 1,192,716 876,785 -74

Comprehensive Income 94,021 290,895 602,737 1,216,092 889,577 2009 2010 2011 2012 2013
Comprehensive Attributable - 290,484 601,654 1,192,716 876,785

RATIOS Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 PROFIT FOR THE PERIOD (Bill. Rp)
Dividend (Rp) 1.05 4.03 6.13 14.60 -
1,216
EPS (Rp) 5.27 16.26 33.68 60.70 44.62 1,216

BV (Rp) 107.90 123.62 156.01 240.82 271.35

890
DAR (X) 0.46 0.52 0.54 0.57 0.63 968

DER(X) 0.84 1.07 1.16 1.31 1.71

720

603
ROA (%) 2.65 6.34 10.03 11.11 6.17
ROE (%) 4.89 13.17 21.63 25.70 16.68 472

GPM (%) 40.14 54.39 58.97 59.96 49.87 291

OPM (%) 27.41 44.83 50.22 51.26 41.62 224

94
NPM (%) 23.33 38.01 43.64 49.71 24.15
Payout Ratio (%) 19.92 24.78 18.20 24.05 -
-24

2009 2010 2011 2012 2013

Yield (%) 1.00 1.37 1.33 2.43 -