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