PT Timah (Persero) Tbk Published Its First Half Financial Report for Year Ended 2012

OPERATION:
 Tin ore production volume by the end of June 2012 was 16,839 ton sn, while ore production from last year same period was 17,701 ton sn or 5% lower.
 Refined tin production by the end of June 2012 is 14,984 mton or 19% decreased from refined tin production on first semester 2011 of 18,455 mton.
 Refined tin sales on the first half 2012 is 17,236 mton, while sales from same period in 2011 was 17,457 mton.
 Refined tin price average received by the company during the first half 2012 is US$ 22,565 which is 24% lower than the same period in 2011 of US$29,541. The highest refined tin price in LME on the first semester 2012 was US$ 25,650/mt and the lowest was US$ 18,375/mt with the average price of US$ 21,791/mt, or 25% lower than that on the same period in 2011 of US$ 29,337/mt.
Meanwhile, foreign exchange rate for period ended is Rp 9,480 per US dollar or 10% higher than
that of last year same period which was Rp 8,597 per US dollar.
 Company seek to boost offshore mining production by modifying new type of dredge called Bucket Wheel Dredge (BWD) with better technology that able to mine deeper compare to our existing Bucket Line Dredge (BLD) in order to support company management strategic plan to go

BANK CENTRAL ASIA - Q2 2012 Result - Strong Growth in Lending and Transaction Accounts

  Loan portfolio grew to Rp 226.0 trillion (+ 41.5% YoY)
 Third party funds increased to Rp 341.1 trillion (+ 19.4% YoY)

 

Jakarta, 30th July 2012 – PT Bank Central Asia Tbk (IDX: BBCA) announced a strong performance for the first half of 2012, driven by significant increases in loans outstanding across all segments and in transaction account third party funds. The Bank‟s total assets has grown year-on-year a substantial 20.2% reaching a total of Rp 408.6 trillion in June 2012. BCA President Director Jahja Setiaatmadja, expressed his satisfaction with BCA‟s performance, “We
are delighted to see BCA‟s achievement in the first half of 2012. A favourable business environment with low interest rates has spurred strong loan demand, for both individuals and businesses.
Furthermore, the significant growth of BCA‟s loan portfolio is underpinned by sound lending and risk management. Our loan expansion and transaction business will continuously support our profitability the current competitive environment.” BCA recorded impressive 41.5% YoY loan growth across all segments in the first half of 2012. Year on- year the loan portfolio increased Rp 66.3 trillion to Rp 226.0 trillion in June 2012. Consumer lending increased more than 50% YoY to Rp 60.0 trillion, driven by 73.5% YoY growth of the mortgage portfolio to Rp 36.5 trillion. BCA reaffirmed its leading position in the provision of mortgage products with the launch of an 8% p.a.

PT Vale Indonesia Tbk Reports Second Quarter 2012 Earnings of US$1.7 million

Jakarta, July 30, 2012 – 

PT Vale Indonesia Tbk (“PT Vale” or the “Company”, IDXTicker: INCO) today announces its unaudited results for the second quarter of 2012 (2Q12).
During 2Q12 PT Vale re‐established its normal production capacity of four electric furnaces as Electric Furnace 2 recommenced operations in May after a major upgrade and shutdown which began in early of November 2011. As a result, the Company produced 16,562 metric tons (t) nickel in matte which was 33% more than 1Q12 production of 12,431 t. Coinciding with this increase in production, the Company delivered 30% more nickel in matte to its customers in the second quarter than in the first quarter of 2012, from 12,514 t to 16,250 t. Compared to results of the first half of 2011, production and sales volumes in the first half of this year were 17% and 18% lower respectively. However the Company is positive about its increased production capacity going forward as it produced more than 7,000 t of nickel in matte in June.
The LME nickel price fluctuated unfavourably throughout 2012 particularly in the second quarter. PT Vale’s average realized price for the second quarter of 2012 is US$13,816 per ton, which was 11% lower than the 1Q12 average realized price. Despite that, the Company recorded 16% higher sales in 2Q12 than in 1Q12 mainly because of higher nickel in matte delivered.
The Company’s average price in the first half of 2012 declined by 28% from US$20,052 per t realized in first half of 2011 contributing significantly to a 41% reduction in sales period over period. The Company’s total cost of goods sold (COGS) in 2Q12 increased by 21% compared
to COGS incurred in the 1Q12 as it sold 30% more nickel in matte in the respective quarters.
Meanwhile, the COGS for the first six months of 2012 increased slightly by 4% from US$367 million in the first six months of 2011 mainly because of higher fuel prices. Earnings before interest, taxes, depreciation and amortization (EBITDA) totalled US$30.9 million in 2Q12, compared to US$33.8 million in 1Q12. Lower EBITDA recorded in 2Q12 than in 1Q12 was due to

Danamon Announces First Half and Second Quarter 2012 Financial Result

Jakarta 18 July 2012

NPAT Up 36%; Fee based Income Grew 23%

PT Bank Danamon Indonesia, Tbk. (“Danamon”) today announces a consolidated net profit after tax (NPAT) of Rp 2 trillion in the first semester of 2012, a 36% increase compared to Rp 1.473 trillion in the first semester of 2012.
“On the back of a relatively stable domestic economy, we were able to generate strong growth in all of our business segments in the first semester of the year. This clearly underscores Indonesia’s economic resilience in the first half of the year, despite intensifying pressure from the global economy,” said Henry Ho, Danamon’s President Director. At the end of June 2012, Danamon’s loans reached Rp 110 trillion, or 19% higher compared to Rp 93 trillion a year ago.
This positive loan growth is driven by growth in mass market lending, consisting of loans for self-employed mass market, auto loans, durable goods loans, and gold-backed shariah based financing, which booked a 20% year-on-year growth to Rp 64 trillion as of June 30, 2012, and contributed to around 58% of the Bank’s total loan portfolio.
“Our self employed mass market unit, Danamon Simpan Pinjam (DSP), actively searches

PT HERO SUPERMARKET TBK FIRST HALF 2012 RESULTS

Jakarta, 23 July 2012

• Strong overall and same store sales growth
• Improved underlying profitability
• Opened 42 new stores including 4 new Giant hypermarkets

PT Hero Supermarket Tbk (“the Company”) today announced its results for the first half ending 30 June 2012.
Compared to the first half 2011, sales grew by 20% to Rp 4,830 billion and the net income increased by 29.7% to Rp 140 billion resulted from both higher sales and continuous improvement in store productivity.
President Director of the Company, Philippe Broianigo, said “The strategies we put in place for each of our businesses continue to produce good results and has shown resilient against stiff competition. The four new Giant hypermarkets opened in the first half this year have shown encouraging results. We will continue to expand our stores network in the second half of this year and expect the business to grow profitably.”
PT Hero Supermarket Tbk has more than 13,700 employees and serves its customers in 558 stores. As at 30 June 2012, the Company operated 43 Giant hypermarkets, 130 Hero and Giant supermarkets, 241 Guardian health and beauty stores and 144 Starmart convenience stores.

Adaro Energy Signs Three Year Option Agreement to Lend Funding and Acquire Controlling Interest in Coal Miner PT Bhakti Energi Persada

Jakarta, May 30th, 2012 --- PT Adaro Energy Tbk (“company”) (IDX : ADRO) is delighted to announce that on May 28th, 2012 in Jakarta, it entered into an option to provide a convertible loan for a period of three years (referred to below as Option One), to acquire a controlling interest in coal miner PT Bhakti Energi Persada (“BEP”) and an option, to acquire the majority shares from the controlling shareholders of BEP (referred to below as Option Two, and, together with Option One are referred to as Options or Option Agreements). Adaro Energy will have full control of the management, operations, and all the funding of BEP from the date of the signing of the Options.
President Director Mr. Garibaldi Thohir, said, “we are delighted with the BEP Options we have signed. We feel BEP has excellent potential to help us achieve our main goal of generating substantial sustainable long-term value from Indonesian coal. We worked for two years to negotiate a deal that is structured in a unique way to minimize risk to Adaro. While we are excited with the BEP opportunity, we must also emphasize that we will use our best judgment before injecting any funds to develop the asset.”Key success factors such as market readiness, receiving required permits from the government, land availability, social and community support, and completing engineering and geological studies must first be in place before any large capital expenditures will be deployed.
President Director Thohir added, “our investors should not have the perception that once the Options are signed, we will immediately deploy capital to fund BEP. We are entering into these Options to properly assess an opportunity, while minimizing the risk to Adaro’s capital. We want to ensure both the acquisition risks and the execution risks are addressed well in advance.”

BEP, which was established in 2002, owns seven low grade thermal coal licenses (known in Indonesian as an IUP) in the District of Muara Wahau, East Kutai Regency, East Kalimantan. BEP also owns two transport businesses in East Kalimantan, which own the hauling

ADARO ENERGY POSTS A SOLID START TO 2012 AS NET INCOME INCREASES 12% TO US$122 MILLION

Jakarta, April 26th, 2012 – PT Adaro Energy Tbk (IDX: ADRO) announced today unaudited financial statements for the first quarter ended March 31st, 2012. Our net revenue increased 21.0% to US$916 million as sales volume and the average selling price (ASP) improved year over year (y-o-y). Net income grew 11.8% to US$122 million, while our gross profit margin stayed relatively flat at approximately 33%. Adaro Energy’s President Director, Mr. Garibaldi Thohir said, “Our first quarter provided us with a solid start for 2012 in order to reach our financial and operational objectives. We will continue our efforts to deliver another strong performance this year, while also doing our part to contribute to our communities and country.”
 

We recorded production growth of 3.4% y-o-y to 10.96 million tonnes (Mt) and sales volume increased 3.1% to 11.25 Mt. During the first quarter, Adaro produced 1.7 Mt of E4000 (Wara) coal. We remain on-track and confident in achieving our annual production guidance. Please refer to our 1Q12 Quarterly Activities Report for more details of our operations.

The average selling price for Adaro Indonesia’s coal improved 17.9% y-o-y due to higher international thermal coal prices. Adaro Energy’s coal

PT Salim Ivomas Pratama Tbk - 2011 Dividend payout

PT Salim Ivomas Pratama Tbk (“SIMP Group” or “the Company”) today conducted its first Annual General Meeting of Shareholders (”the AGM”) and obtained the approval for all the proposed resolutions.
The shareholders approved among others:
• The Board of Directors’ Annual Report on the activities and financial results of the Company for the year ended December 31, 2011.
• Dividend payout of Rp21 per share to be paid on June 29, 2012.
Mark Wakeford, SIMP Group’s President Director said: “We would like to extend our earnest appreciation to all of our shareholders for undiminished trust and support. Our objective is to continue building on the strength of our diversified and vertically integrated agribusiness model to achieve strong performance and steady financial results.”

RADIANT UTAMA INTERINSCO’S NET PROFIT INCREASE 210% TO RP 10.5 BILLION IN 1Q12

Jakarta, May 3rd, 2012 – PT Radiant Utama Interinsco Tbk (IDX: RUIS) today announces its financial performance for fiscal year ended March 31st, 2012. Our net profit increased 210.5% to Rp 10.5 billion and earnings per share also increased 210.5% to Rp 13.6. The increase was mainly due to higher revenue which raised by 17.6% yoy to Rp 315.5 billion and almost the entire division contributes higher revenue compared to 1Q11. Moreover, our EBITDA climbed 99.6% to a record of Rp 46.3 billion. In line with higher net profit, our
profitability also improved as the gross and operating margin increased to 17.1% and 10.3% in 1Q12 while the net margin increased to 3.3% from only 1.3% in 1Q11. Meanwhile, the company’s total assets significantly increased to Rp 1,026.3 billion in 1Q12 from Rp 684.6 billion in 1Q11. The increase was mainly due to higher fixed asset and account receivables. Our total liabilities increased 71.9% or Rp 803 billion to Rp 467.2 billion y-o-y, primarily because of greater loan amounts while the company raised a new loan to fund MOPU acquisition

Radiant Utama Interinsco generated strong revenue growth of 17.6% y-o-y or Rp 268.2 billion to Rp 315.5 billion for the fiscal year ended March 31st, 2011 due to higher revenue from almost of the divisions. The Inspection Division contributes the highest increment this year which increased 52.6%.
Operation Support division, the largest contributor to the company’s revenue, booked revenue of Rp 219.1 billion or increased 27.3% yoy. The increase was mainly due to our clients increased the utilization of our projects and the company also won some huge projects in the past six months. We believe the revenue from this division will increase higher in 2012, as the division has onhand contract with total value of Rp 1.2 trillion up to 1Q12. 

Moreover, the company has secured new contract of Rp 348.9 billion up to March 2012. Currently, the division contribute 69.5% of total revenue in 1Q12. Offshore division reported that revenue increased 10.5% yoy to Rp 60.1 billion in 1Q12. The increment was due to impact from new daily rates for the operation of Mobile Offshore Production Unit (MOPU) since the company acquired MOPU from our partner and the daily rates increased to $41,000. We believe the revenue from this division will steady increase in the future as with the new contract the daily rate will increase by 7.5% every 2 years starting 1st August 2011.
 

The revenue from Inspection division increased significantly of 52.6% to Rp 33.9 billion due to the increment of oil and gas companies activities due to raise of oil price which positively affected inspection division. Furthermore, the inspection division won some projects with significant value in 1Q12 from several oil and gas companies.
Meanwhile, the revenue from Others Services decreased to Rp 2.4 billion in 1Q12, the declined due to a lower number of new projects in Technical Training and Environmental Study.

Monitise Asia Pacific open for business in Indonesia with Astra Graphia Group

Jakarta, 11 April 2012

Monitise Asia Pacific (PT. AGIT Monitise Indonesia) announced today that its joint venture with a subsidiary of PT. Astra Graphia Tbk, was ready for business. The joint venture has successfully completed its installation in a Jakarta-based data centre to support the full spectrum of mobile banking, payments and commerce.

The platform will allow banks, mobile operators, retailers and other service providers to connect via a fully interoperable and secure network so they can deliver mobile services to both banked and unbanked customers.

PT. AGIT Monitise Indonesia is a joint venture between Monitise Asia Pacific and Astra Graphia Information Technology (AGIT). Monitise Asia Pacific is itself a 50/50 joint venture between Monitise plc (LSE: MONI) and the First Eastern Investment Group.

PT Timah (Persero) Tbk Posted Revenue of Rp 8,749.6 Billion on 2011

Jakarta, 29 March 2012, 

PT Timah (Persero) Tbk reported today its Consolidated
Financial Statement of the year ended 31 December 2011 Rp. 896.8 Billion or Rp. 178.2,-
per share which was 5% lower than that of 2010 net profit of Rp.947.9 Billion or Rp. 188.3,-
per share. The lower on net profit was basically due to world refined tin price instability that
occurs on second half of 2011 and finaly resulted in decline of sales volume that is a part of
moratorium refined tin export from Bangka Belitung when the price was dropped to below
US$ 19,000/mton on October 2011 which was actualy lower than production cost.
The “moratorium movement” was a protest from Indonesian tin producer againts trader who
used economic crisis in Europ to decrease global refined tin price. Fundamentally, dropped
in tin price was not sufficiently reasoned because stock in LME was very low and Indonesia
production was also low due to monsoon.
During moratorium, the company has stopped all spot sales while contract sales remained in
served especialy to the loyal customer

Operational Highlight
The highest global refined tin price during 2011 was US$ 33,255 /Mton and the lowest was US$ 18,610/Mton with the average of US$ 26,021/Mton, 27% increased from 2010 global average tin price which was US$ 20,447/Mton. Meanwhile, the exchange rate was relatively stronger. The US Dollar rate on 2011 and 2010 was Rp 8,757/US$ and Rp 9,169/US$  respectively.
Production of refined tin on 2011 was 38,132 mton, or 6% lower than that of 2010 production of 40,412 mton. Declining in refined tin production volume is caused by lower sales volume on second semester.
Tin ore production on 2011 was 37,486 ton Sn, relatively equal to 2010 production which was 37,615 ton Sn. Tin ore contribution from onshore mining was 19,136 ton Sn or 11% higher than 2010 production of 17,172 ton Sn. Meanwhile, tin ore production from offshore operation was 10% decreased to 18,351 ton Sn from last year production which was 20,444.

Financial Performance
The company’s gross profit in 2011 was Rp1,973.3 Billion or 3% higher than that of same
period in 2010 which was Rp 1,924.1 Billion and cost of goods sold of refined tin was 5%
decreased from Rp 7,260.7 billion on 2010 to Rp 6,868.5 billion this year.
Profit before tax is 13% increased copare to last year same period which was Rp1,127.3
billion to Rp 1,268.1 billion on 2011.
The company’s total asset increased by 11% from Rp 5,881.1 billion to Rp 6,569.8 Billion.
The increased was mainly due to the increased in current inventory by 36% from Rp 1,802.7
billion on 2010 to Rp 2,447.0 Billion on 2011.
Account payable increased by 10% over the previous year amounted to Rp 1,269.5 billion to
Rp. 1,422.0 billion. Total equity increased 11% to Rp. 4,597.8 billion in 2011 compared to
Rp 4,203.1 billion in 2010.

PT Timah (Persero) Tbk reported today its Consolidated
Financial Statement of the year ended 31 December 2011 Rp. 896.8 Billion or Rp. 178.2,-
per share which was 5% lower than that of 2010 net profit of Rp.947.9 Billion or Rp. 188.3,-
per share. The lower on net profit was basically due to world refined tin price instability that
occurs on second half of 2011 and finaly resulted in decline of sales volume that is a part of
moratorium refined tin export from Bangka Belitung when the price was dropped to below
US$ 19,000/mton on October 2011 which was actualy lower than production cost.
The “moratorium movement” was a protest from Indonesian tin producer againts trader who
used economic crisis in Europ to decrease global refined tin price. Fundamentally, dropped
in tin price was not sufficiently reasoned because stock in LME was very low and Indonesia
production was also low due to monsoon.
During moratorium, the company has stopped all spot sales while contract sales remained in
served especialy to the loyal customer

BUMI PLC ANNOUNCES OPERATING PROFIT OF $280 MILLION

Delivering on our goals with a clear strategy going forward
 Transforming into a world class, thermal coal business
 One of the largest ever expansions in thermal coal production on schedule
 Successfully met 2011 production targets
 Major review underway to optimise operating efficiencies
 Substantial progress made in reducing the Wider Group’s1 cost of capital
 FTSE index inclusion attained in December 2011





Financial highlights
 Group1 operating profit2 of $280 million, driven by higher production & stronger thermal coal prices
 Underlying earnings3 of $33 million and underlying earnings per share of $0.17
- Reported loss from PT Bumi impacted by early stage project costs expensed in line with Bumi plc
policy ($41m Bumi plc share) and purchase price amortisation of $24m
 Underlying EBITDA of $427m and net debt of $222 million


Strong operational performance
 Strong operating performances across all coal businesses
 Production volumes at PT Berau and PT Bumi increased by 9% to 85 million tonnes4
 Production cost of sales at PT Berau and PT Bumi driven by higher stripping ratios and higher fuel
prices
 Realised price (FOB) for the Wider Group 2011 of $90.5/tonne, an increase of 32% over 2010
Industry leading growth
 Major coal expansion phase in execution
 PT Berau on track to increase production from 19m tpa to 23m tpa in 20125
 PT Bumi set to increase output from 66m tpa to 75m tpa in 20124

Bumi plc appoints new Chairman, CEO, CFO on 26 March 2012:
 Samin Tan appointed Chairman
 Nalin Rathod appointed CEO
 Scott Merrillees appointed CFO
 New management have extensive Indonesian coal mining experience, spanning 20 years

Samin Tan, Chairman of Bumi plc said:
“I would like to assure all of our stakeholders that as Chairman of Bumi plc, together with the Board and executive team, we will work tirelessly to deliver on the achievement of our key objectives and drive increased shareholder value as well as rolling out best practice corporate governance. The management changes will strengthen our team and also increase the presence of key executives in London. I have every confidence that we have the capacity to deliver on our stated goal of becoming the leading FTSE thermal coal company.”

Nalin Rathod, Chief Executive of Bumi plc said:
“We have met our production targets for the year, despite high levels of rainfall in the first quarter, which impacted output. Costs have been well maintained, with fuel being the major pressure point but this was more than offset by higher coal prices. We are implementing a number of new initiatives across the Group to optimise productivity. In terms of our expansion plans I am pleased to report that we have made excellent progress and are on track to deliver 23 million tonnes of production from PT Berau and 75 million tonnes for PT Bumi in 2012, a significant increase.”

 Financial information for the year ended 31 December 2011

Bank Mandiri Tbk - Q4 2012 financial report

Bank Mandiri reported a 2011 fourth-quarter net profit rose 6.4 percent, in line with credit growth in the current benchmark rate was cut to the next level low. Company's fourth quarter net income was 3.0 trillion rupiah (Rp 329 310 million), compared to 2.82 trillion rupiah in the same period last year before.

United Tractors - Sales Report 2012

UNTR has sold 1.386 units of heavy equipment in the first two months of 2012
, down 2% in the same period last year.

PT Vale Indonesia Tbk Reports Fourth Quarter 2011 Net Earnings of US$13.1 million

Jakarta, February 16, 2012 – PT Vale Indonesia Tbk (“PT Vale Indonesia”, “PTVI” or the “Company”; IDX: INCO) today announces its unaudited results for the fourth quarter of 2011 (4Q11). PTVI delivered 15,604 metric tons (t) of nickel in matte in 4Q11. For 2011 and 2010 the Company delivered 66,815 t and 75,839 t of nickel in matte respectively.

Productions for nickel in matte in the third and fourth quarters of 2011 were 18,073 and 13,728 t, respectively. As expected, the Company produced less nickel in matte in the fourth quarter compared to previous quarter due to the rebuild of its Furnace #2 as part of the plan to increase the production. While shutting it down, we had an incident that impacted Furnace #1 and the Company decided to utilize the situation to move forward scheduled maintenance work on this Furnace #1 initially scheduled for late 2012. 

The company operated two furnaces in November and December 2011. The Company recorded an average realized price of nickel in matte of US$14,928 per t during 4Q11, compared to US$17,735 per t in 3Q11. Throughout the year, the Company’s average realized price of US$18,296 pert, was about 10% more than the 2010 average realized price. Sales were US$237.0 million for the three months ended December 31, 2011 and US$290.1 million in 3Q11. Sales in 2011 declined by about 3% compared to the 2010 net sales.
The Company’s total cost of goods sold (COGS) in 4Q11 increased by more than 16% to US$194.1 million from US$166.8 million in 3Q11 mainly due to increases in services and contracts.

Earnings before interest, taxes, depreciation and amortization (EBITDA) totalled US$48.0 million in 4Q11, compared to US$134.2 million in 3Q11. EBITDA in 2011 of US$548.8 million was 19% less than US$677.6 million EBITDA obtained in 2010. Lower net earnings and EBITDA in 4Q11 in comparison to 3Q11 were mainly due to higher COGS as well as lower average realized price during the period. The Company recorded net earnings of US$13.1 million in 4Q11 (US$0.001 per share) compared to US$81.7 million (US$0.008 per share) achieved in the previous quarter. Total net earnings in 2011 of US$333.0 million were 24% lower than net earnings of US437.4 million in 2010.

In 4Q11 the Company used 13,009 kilolitres of diesel fuel at an average cost of US$0.85 per litre while in 3Q11 it consumed 18,492 kilolitres at an average cost of US$0.87 per litre.

In this same period the Company also consumed 425,089 barrels of High Sulphur Fuel Oil (HSFO) at an average cost of US$105.99 per barrel compared to 697,872 barrels at an average cost of US$105.56 per barrel in the previous quarter. PT Vale Indonesia paid interim dividends of US$99.4 million in November 2011. The total dividend payments on a cash basis reached US$244.4 million in 2011. By end of 2011 the Company had nearly US$399 million of cash and cash equivalents.

Production recovery in 2012 and projects to improve competitiveness and support growth agenda

PTVI completed Furnace #1 repair in mid of January 2012. The repair also included maintenance work

DANAMON’S 2011 NPAT REACHED RP 3.3 TRILLION, UP 16% YEAR-ON-YEAR; RIGHTS ISSUE IMPROVES CAR TO 17.5%

PT Bank Danamon Indonesia Tbk (Danamon) today announced a consolidated net profit after tax (NPAT)

of Rp 3.336 trillion for the year of 2011, which is a 16% growth compared to Rp 2.883 trillion in 2010. The

NPAT growth is supported by strong lending growth in the mass market, small and medium enterprises

(SME) segments as well as a rise in fee income. A successful rights issue in 2011 has also strengthened

the Bank’s capital base, enabling a continued expansion.

“Indonesia’s economic resilience, reflected by its ratings upgrade to investment grade amid debt woes in

Europe and slow recovery in the US, created a positive operating environment that enabled us to sustain a

strong lending growth,” said Henry Ho, President Director of Danamon.

Danamon’s loans reached Rp 101.7 trillion in 2011, or a 23% growth compared to Rp 82.7 trillion in 2010.

Mass market loans, which include auto loans, durable goods loans, loans for self-employed mass market and syariah-based gold-backed financing, booked a 26% growth to Rp 59.252 trillion. Mass market loans accounted for 58% of Danamon’s total portfolio.

In 2011, Danamon’s SME and Commercial banking (mid-size) booked a 23% growth in lending to Rp 24

trillion, which represented 24% of the Bank’s loan portfolio. Specifically, SME loans booked 27% growth to

Rp 14.2 trillion, while Commercial Banking recorded 19% in lending growth to Rp 10 trillion. Moreover,

Danamon’s ABF (Assets Based Financing) unit, which offers heavy equipments financing mostly to our midsize customers in mining and agribusiness industries, posted a 59% loan growth to Rp 4.573 trillion.

“The strong loan growth across our businesses is accompanied by prudent and disciplined banking practices. As a result, we manage to press down our non-performing loans,” said Vera Eve Lim, Danamon Director and Chief Financial Officer. At the end of 2011, Danamon’s gross non-performing loan ratio improved to 2.5% compared to 3.0% at the end of 2010.

“In addition to recording a healthy growth in lending, Danamon’s fee income also increased by 24% to Rp

4.131 trillion on the back of higher credit related fees and fees from bancassurance,” continued Vera. Income from credit related fees has grown by 29% to Rp 3.049 trillion, in line with the Bank’s lending growth, while bancassurance fee income rose by 196% to Rp 330 billion, boosted by a strategic partnership with Manulife Indonesia in the third quarter of 2011.

The Bank’s auto financing business through Adira Finance booked Rp 1.511 trillion in NPAT, which is a

13% year-on-year growth. Adira Finance also issued Rp 41.363 trillion in loans throughout 2011, a 35% year-on-year increase, placing Adira Finance as the leader in the industry. Furthermore, Adira Finance is in

a favorable position to continue growing, after a successful Rp 5 trillion fixed rate bonds issuance in 2011. Meanwhile, Adira Insurance, a subsidiary in general insurance business, recorded an NPAT growth of Rp

331 billion or 26% growth versus previous year on the back of a 36% growth to Rp 1.474 trillion in gross

written premiums. As part of its growth strategy, Adira Insurance added 10 outlets in 2011 and is planning

to open 11 more outlets in 2012.

“In 2011, Danamon successfully raised approximately Rp 5 trillion through a rights issue, which further

strengthened our capital base and put us in a good position to pursue further growth,” added Henry. The

rights issue, which recorded a 113% subscription rate, raised the bank’s consolidated capital adequacy ratio

(CAR) from 16% in a year earlier to 17.5% by the end of 2011, which is well beyond the regulatory

requirement of 8%.

“Following a successful rights issue, we have a greater capacity to expand our network further,” said Vera.

In 2011, Danamon and its subsidiaries added 393 branches and outlets to reach out wider areas. Notable

additions in 2011 include 178 new Danamon Simpan Pinjam branches, 103 Adira Finance branches and

outlets, and 42 Adira Kredit branches and points of sales. To support its network expansion, Danamon hired

more than 9,000 employees throughout 2011, created more job opportunities and brought total employees

to 70,949.

Moving forward, Danamon continues to increase its physical presence by approximately 300 more locations

in 2012, including close to 150 Syariah-based gold-backed financing units (‘Solusi Emas Syariah’) in 2012.

Similarly, in 2012, Adira Finance plans to open 112 additional outlets, while Adira Kredit plans to add 59

additional outlets. To complement the Bank’s network expansion, Danamon has also enhanced its internet and mobile banking services. The Bank’s continuous efforts to improve its internet banking service were well rewarded with a large increase in the utilization of ‘Danamon Online Banking,’ which now reaches about 1.5 million transactions per month. This number is expected to grow further.

The Bank’s total funding rose 9% to Rp 88.054 trillion in 2011 from Rp 80.921 trillion a year earlier on the

back of solid growth in its current account and savings account (CASA), which grew by 12% to Rp 36.433

trillion or 41% of total customer deposits. “The growth in CASA is consistent with the Banks’ strategy to

strengthen its funding franchises,” added Vera.

“We continue to invest in funding franchise, among others, through network expansion. We plan to open

close to 70 conventional branches and add approximately 600 ATMs from 2011 until the end of 2012,”

explained Vera.

About Danamon:

PT Bank Danamon Indonesia Tbk. was established in 1956 and as of December 31, 2011 operates over

3,000 branches and points of sales, including its Danamon Simpan Pinjam (DSP) and Syariah units as well

PT Vale Indonesia Tbk Change of Members of the Board of Commissioners

Jakarta, February 17, 2012 – At today’s Extraordinary General Meeting of Shareholders, the
shareholders of PT Vale Indonesia Tbk (the “Company”) approved the appointment of Mr.
Ricardo Rodrigues de Carvalho as the President Commissioner of the Company, replacing
Mr. Peter Poppinga, while Mr. Poppinga remains as a member of the Board of Commissioner
of the Company.
The shareholders of the Company also accepted the resignation of Mr. Tito B. Martins as
Commissioner of the Company. The Board of Directors and the Board of Commissioners of
the Company would like to thank Mr. Martins for his dedication and commitment to the
Company during his tenure.
Based on the foregoing, the current composition of the Board of Commissioners of the
Company is as follow:

President Commissioner Mr. Ricardo R. de Carvalho
Vice President Commissioner and Independent Commissioner Mr. Arief T. Surowidjojo
Commissioner Mr. Takeshi Kubota
Commissioner Mr. Harumasa Kurokawa
Commissioner Ms. Jennifer A. Maki
Commissioner Mr. Gerd Peter Poppinga
Commissioner Mr. Arif S. Siregar
Commissioner Mr. Mark J. Travers
Independent Commissioner Mr. Irwandy Arif

We will comply with any regulatory requirements applicable relating to the changes of the
Board of Commissioners of the Company.
Brief biography of the newly appointed member of the Board of Commissioner of the
Company:
Ricardo Rodrigues de Carvalho became Vale’s Base Metals Director - Asia Pacific & Africa
in January 2012. He was previously appointed as Base Metals Director - South Atlantic in
June 2010 and before that he was appointed as Vale’s Aluminum Department Director in. He
has worked in the Mining and Metals Business for more than 30 years. He also has worked
for 5 years for Votorantim Group in Brazil as Nickel Business Director.
He is currently responsible for managing Vale’s operations in New Caledonia and Indonesia
and also represents the company in Teal Minerals, a Vale and ARM (African Rainbow
Minerals) JV for the Konkola North copper project implementation in Zambia. He was
appointed by Vale to be the President of Vale Nouvelle Caledonie.
As Vale’s Base Metals Director - Asia Pacific & Africa, Ricardo is based in Vale’s
International SA Singapore Branch Office.