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PT Polychem Indonesia Tbk

(Formerly PT GT Petrochem Industries Tbk ) Automotive and Allied Products

Head Office Wisma 46 Kota BNI 20th Floor Summary of Financial Statement
Jl. Jend. Sudirman Kav. 1 (Million Rupiah)
Jakarta 10220 2007 2008 2009
Phone (021) 574-4848 Total Assets 4,161,340 3,855,930 3,719,872
Fax (021) 5794-5832-34 Current Assets 1,555,600 1,414,430 1,418,653
of which
E-mail: corporate@polychemindo.com Cash and Cash Equivalents 87,986 162,076 118,541
Website: www.polychemindo.com Trade receivables 470,062 388,234 375,258
Factories - Jl. Daan Mogot Km. 21 Batu Ceper Inventories 664,373 535,381 542,528
Non-Current Assets 2,605,740 2,441,500 2,301,219
Desa Poris Plawad of which
Kecamatan Cipondoh, Tangerang 15122, Fixed Assets-Net 2,436,375 2,217,190 2,094,962
Deffered Tax Assets-Net n.a n.a n.a
Banten
Phone (021) 551-2896; Fax (021) 551-2196 Liabilities 2,841,380 2,844,075 2,629,538
Current Liabilities 692,515 1,435,701 1,299,925
- Desa Wanasari, Kec. Teluk Jambe of which
Kab. Karawang, Jawa Barat Trade payables 199,351 44,937 109,451
Phone (0267) 409-730; Fax (0267) 409-734 Taxes payable 2,382 3,300 3,414
Current maturities of
- Jl. Raya Bojonegara long-term debt 374,891 1,234,300 1,049,737
Desa Mangunrejo, Kec. Pulo Ampel Non-Current Liabilities 2,148,865 1,408,374 1,329,613
Minority Interest in Subsidiaries 829 693 655
Kabupaten Serang, Banten
Phone (0254) 575-0055 Shareholders' Equity 1,319,131 1,011,162 1,089,679
Paid-up capital 1,944,590 1,944,590 1,944,590
Fax (0254) 575-0059 Paid-up capital
Business Tire Cord, Nylon Filament, Polyester in excess of par value 65,000 65,000 65,000
Filament, Polyester Staple Fiber, and Synthetic Retained earnings (accumulated loss) (690,459) (998,428) (919,911)

Rubber, Ethylene Glycol Net Sales 3,858,496 4,002,532 3,142,960


Company Status PMDN Cost of Goods Sold 3,629,069 3,822,529 3,086,608
Gross Profit 229,427 180,003 56,352
Financial Performance: The Company successfully booked Operating Expenses
Operating Profit (Loss)
134,410
95,017
123,941
56,062
81,167
(24,814)
net income amounted IDR53.8 billion in 2009, while in 2008 Other Income (Expenses) (51,844) (385,253) 99,663
suffered net loss at IDR263 billion. Profit (Loss) before Taxes 43,173 (329,191) 74,849
Profit (Loss) after Taxes 57,977 (263,387) 53,811
Brief History: By April 1993, installed capacity had grown
to 10,000 tons. Raw materials used in production are nylon, Per Share Data (Rp)
Earnings (Loss) per Share 15 (68) 14
polyester, rayon, latex, resorcinol and denabond, some of Equity per Share 339 260 280
which that are still continued to be imported. The company Dividend per Share n.a n.a n.a
Closing Price 175 70 134
markets directly to consumers, with domestic buyers taking
80% of sales and the remainder comprising exports to Malaysia, Financial Ratios
PER (x) 11.74 (1.03) 9.68
Thailand, the Philippines, Australia and Pakistan. Indonesian tire PBV (x) 0.52 0.27 0.48
manufacturers who are using the company’s tire cord are Yo- Dividend Payout (%) n.a n.a n.a
Dividend Yield (%) n.a n.a n.a
kohama, GT, Inouoe,Intirub and Double Coin. Technical assis-
tance is obtained from Yokohama Company Ltd., Japan, and PT Current Ratio (x) 2.25 0.99 1.09
Debt to Equity (x) 2.15 2.81 2.41
Gajah Tunggal Indonesia. In November 1994 the company has Leverage Ratio (x) 0.68 0.74 0.71
issued a new share, about 60.8% or Rp 155 billion of the fund Gross Profit Margin (x) 0.06 0.04 0.02
will be used for acquisition of PT Filamindo Sakti, 18.6% will be Operating Profit Margin (x)
Net Profit Margin (x)
0.02
0.02
0.01
n.a
n.a
n.a
invested in additional production capacity and 12.3% used to Inventory Turnover (x) 5.46 7.14 5.69
repay loans to BNI and BDNI. In 1995 the company with 50% Total Assets Turnover (x) 0.93 1.04 0.84
ROI (%) 1.39 (6.83) 1.45
share is joining up with HICOM Berhad of Malaysia to build ROE (%) 4.40 (26.05) 4.94
a US$ 60 million tire plant. Construction is expected to be
PER = 7.47x ; PBV = 0.47x (June 2010)
completed in 1997. As discussed in note 19 and 30, in relation Financial Year: December 31
to the settlement of loan from BDNI – suspended bank (BBO) Public Accountant: Osman Bing Satrio & Co.
between founder of Gajah Tunggal Group and Indonesian Bank
Restructuring Agency, all of the company’s shares owned by PT (million rupiah)
Gajah Tunggal Mulia and the obligation of the company and its 2010 2009
subsidiary to BDNI –Bbo were transfered to PT Tunas Sepadan June June
Investama (TSI). TSI is a holding company established by the Total Assets 3,941,067 3,904,403
founder of Gajah Tunggal Group and IBRA in relation to settle- Current Assets 1,731,460 1,646,521
ment of the founder’s obligations with IBRA.
Non-Current Assets 2,209,607 2,257,882
Liabilities 2,807,874 2,910,910
Shareholders
Shareholders' Equity 1,132,538 992,793
PT Gajah Tunggal Tbk 28.91%
Net Sales 1,900,303 1,422,971
PT Satya Mulia Gema Gemilang 24.83%
HSBC Trustee Ltd. 17.21% Profit after Taxes 44,945 (21,173)

PT Agung Ometraco Muda 10.87%


Primavantage Limited (BVI) 8.10% ROI (%) 1.14 (0.54)
Public 10.08% ROE (%) 3.97 (2.13)

390 Indonesian Capital Market Directory 2010


PT Polychem Indonesia Tbk
(Formerly PT GT Petrochem Industries Tbk ) Automotive and Allied Products

Board of Commissioners Board of Directors


President Commissioner Bacelius Ruru President Director Gautama Hartarto
Vice President Commissioner Drs. Martua Radja Panggabean Vice President Director Johan Setiawan
Commissioners Drs. Havid Abdulgani, Bustomi Usman, Directors Jusup Agus Sayono, Hendra Soerijadi
Bambang Husodo
Number of Employees 1,468

No Type of Listing Listing Date Trading Date Number of Shares Total Listed
per Listing Shares
1 First Issue 20-Oct-93 20-Oct-93 20,000,000 20,000,000
2 Company Listing 20-Oct-93 20-Oct-93 60,000,000 80,000,000
3 Right Issue 25-Nov-94 25-Nov-94 80,000,000 160,000,000
4 Bonus Shares 28-Aug-95 28-Aug-95 160,000,000 320,000,000
5 Right Issue 21-Oct-96 21-Oct-96 800,000,000 1,120,000,000
6 Stock Split 10-Nov-97 10-Nov-97 1,120,000,000 2,240,000,000
7 Additional Listing Without
Pre-emptive Rights 12-Jan-05 12-Jan-05 1,649,179,559 3,889,179,559

Underwriter
PT Credit Lyonnais Capital Indonesia
Stock Price, Frequency, Trading Days, Number and Value of Shares Traded and Market Capitalization

Stock Price and Traded Chart


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Institute for Economic and Financial Research 391