Overseas Regulatory Announcement

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Overseas Regulatory Announcement Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. (Incorporated in the Cayman Islands with limited liability) (Stock Code: 8061) OVERSEAS REGULATORY ANNOUNCEMENT The following is a translation of an announcement of PT Multipolar Tbk (a subsidiary of AcrossAsia Limited (“AcrossAsia”) listed on the Indonesia Stock Exchange in which AcrossAsia has an approximately 51.15% interest) published on the Indonesia Stock Exchange. As at the date hereof, the Board of Directors of AcrossAsia comprises one executive Director, namely, Mr. Marshall Wallace COOPER and three independent non-executive Directors, namely, Mr. Albert Saychuan CHEOK, Dr. Boh Soon LIM and Mr. Kwong Yiu MAK. Hong Kong, 12th June 2009 PT Multipolar Tbk ANNUAL REPORT 2008 THE NEXT LEVEL OF INNOVATION TABLE OF CONTENT 01 Our Vision 02 Our Journey 04 Financial Highlights 05 Stock Highlights 06 Board of Commissioners 08 Message from the President Commissioner 10 Board of Directors 12 Message from the President Director 14 Business Pillars 20 Development of Human Capital 22 Good Corporate Governance 24 Audit Committee’s Report 26 Management Discussion & Analysis 28 Corporate Data 29 Achievements in 2008 30 Curriculum Vitae of Audit Committee 31 Responsibility for 2008 Annual Report THE NEXT LEVEL OF INNOVATION Annual Report 2008 • PT Multipolar Tbk 1 OUR VISION To be an admired company in the region, which delivers high values to its stakeholders through the deployment of the best available information and management technology THE NEXT LEVEL OF INNOVATION 2 Annual Report 2008 • PT Multipolar Tbk OUR JOurNEy 2008 Strong Growth for Outsourcing Business Asia Pacific Outstanding Enterpreneurship Award Upgrade to Oracle Certified Advance Partner 2007 Strong Revenue & Profitability Expanding growth for outsourcing business 2006 Strong Leader for IT Solutions The largest holding co. for retailing business Renewal ISO 9001:2000 Certification 4th rights issue 2005 Server, Solution and Service emphasis IT Oursourcing Strengthen equity through 3rd rights issue 2001 - 2004 Total Enterprise Solutions Provider Establishing Consulting Business Awarded ISO 9001:2000 certification in 2004 THE NEXT LEVEL OF INNOVATION Annual Report 2008 • PT Multipolar Tbk 3 1998 - 2000 System Integrator Business Solutions and Application Service Provider 1997 1st IT co. to be awarded ISO 9001:1994 certification Acquiring MPPA, Indonesian largest retailer 2nd rights issue 1989 - 1996 1st IT co. to be listed in JSX in 1989 1st rights issue in 1996 1986 1st IBM Business Partner in Indonesia 1982 Pioneer of banking & financial computerization 1976 Electronic Retailer Dec 4, 1975 Establishment of Multipolar THE NEXT LEVEL OF INNOVATION 4 Annual Report 2008 • PT Multipolar Tbk FinAnciAL HIgHlIghts PT Multipolar Tbk. and Subsidiaries In Millions Rupiah (except stated otherwise) 2008 2007 2006 2005 2004 RESULT OF OPERATION Net Sales, Services, and 12,709,388 10,370,107 9,100,380 7,490,735 2,506,936 Other Operating Revenue Gross Profit 3,242,232 2,689,060 2,415,906 2,103,496 683,307 Income from Operations 529,842 441,501 436,275 321,491 148,369 Other Charges (739,411) (260,520) (273,821) (121,036) (83,900) Income Before Tax Benefit (Expense) (259,968) 188,521 167,998 205,662 82,776 Net Income (196,509) 61,317 45,159 60,718 23,127 Number of Shares (Shares) 6,785,159,000 6,785,159,000 4,365,500,658 4,211,478,000 1,871,768.000 Earnings per Share (In Full Rupiah) (28.96) 9.25 10.72 20.37 12,36 BALANCE SHEET Cash dan Cash Equivalents 1,896,282 2,813,019 1,433,573 542,066 1,073,699 Short-term Investments 1,913,659 958,300 527,381 232,745 243,726 Accounts Receivable - Trade - Net 218,575 201,987 252,288 128,776 156,532 Inventories - Net 1,030,304 944,886 853,539 735,531 466,899 Total Current Assets 6,253,209 5,262,257 3,391,468 1,919,853 2,136,365 Investments in Associates and 271,963 415,818 243,121 236,709 304,118 Other Long-Term Investments Total Non-Current Assets 5,149,289 4,576,483 4,081,127 3,562,030 2,736,516 Total Assets 11,402,498 9,838,740 7,472,595 5,480,658 4,872,881 Total Current Liabilities 5,214,135 2,433,991 2,488,807 1,542,306 1,578,479 Total Non-Current Liabilities 3,052,138 3,954,561 2,458,283 1,538,129 1,331,373 Total Liabilities 8,266,273 6,388,552 4,947,090 3,080,435 2,909,852 Stockholder’s Equity 1,505,134 1,750,532 1,364,375 1,287,991 945,427 Working Capital - Net 1,039,074 2,828,266 902,661 377,547 557,886 RATIO Gross Margin 25.51% 25.93% 26.55% 28.08% 27.26% Operating Margin 4.17% 4.26% 4.79% 4.29% 5.92% Return on Assets -1.72% 0.62% 0.60% 1.11% 0.47% Return on Equity -13.06% 3.50% 3.31% 4.71% 2.45% Current Ratio 1.20x 2.16x 1.36x 1.24x 1.35x Debt to Equity 2.64x 1.85x 1.96x 1.28x 1.21x Debt to Assets 0.72x 0.65x 0.66x 0.56x 0.60x WORKING CAPITAL TURN OVER (Days) Accounts Receivable Turn-Over 6 7 10 6 23 Inventory Turn-Over 40 45 47 50 93 THE NEXT LEVEL OF INNOVATION Annual Report 2008 • PT Multipolar Tbk 5 Stock HIgHlIghts SHARE PERFORMANCE 2008 2007 Earnings per Share (Rp) (28.96) 9.25 Outstanding Shares (Shares) 6,785,159,000 6,785,159,000 Weighted Average Shares (Shares) 6,785,159,000 6,626,058,178 Book Value per Share (Rp) 221 264 SHAREHOLDERS 2008 2007 1. AcrossAsia Limited 3,470,636,478 51.15% 3,470,636,478 51.15% 2. Others/Public 3,314,522,522 48.85% 3,314,522,522 48.85% 6,785,159,000 6,785,159,000 SHARE PRICE PER QUARTER 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 2008 Highest (Rp) 104 96 81 50 Lowest (Rp) 71 65 50 50 Closing (Rp) 77 76 50 50 Volume (Shares) 618,940,500 484,499,500 447,810,500 11,648,500 2007 Highest (Rp) 145 148 152 125 Lowest (Rp) 103 106 89 99 Closing (Rp) 108 126 125 102 Volume (Shares) 3,565,858 4,353,126 5,158,381 752,002 HISTORY OF REGISTRATION OF SHARES ON THE INDONESIA STOCK EXCHANGE Origin of Share Listing Date Additional Number of Shares Total Outstanding Shares Nominal Value Per Share (Sheet) After Transaction Saham (Rp) Initial Public Offering 6 November 1989 3,428,000 3,428,000 1,000 Company Listing 16 July 1990 8,000,000 11,428,000 1,000 Bonus Share (1:2) 9 November 1992 22,856,000 34,284,000 1,000 Rights Issue I 12 July 96 102,852,000 137,136,000 1,000 (1:3 @ Rp 1,000) Stock Split 1 April 1997 137,136,000 274,272,000 500 Rights Issue II 14 July 1997 1,508,496,000 1,782,768,000 500 (10:55 @ Rp 500) Limited Public Offering 27 July 2000 89,000,000 1,871,768,000 500 Rights Issue III 24 June 2005 2,339,710,000 1,871,768,000 Class A Shares Class A @ Rp 500 (4:5 @ Rp 125) 2,339,710,000 Class B Shares Class B @ Rp 125 Rights Issue IV 8 December 2006 2,573,681,000 1,871,768,000 Class A Shares Class A @ Rp 500 (18:11 @ Rp 125) 4,913,391,000 Class B Shares Class B @ Rp 125 HISTORY OF DIVIDEND PAY-OUT Payment Date Period AGM Date Dividend Outstanding Shares Total Dividend Pay-out 16-Nov-92 July 1991 - July 1992 11 September 1992 240 11,428,000 2,742,720,000 16-Nov-93 July 1992 - June 1993 11 September 1993 35 34,284,000 1,199,940,000 16-Nov-94 July 1993 - June 1994 11 September 1994 45 34,284,000 1,542,780,000 16-Nov-95 July 1994 - June 1995 11 September 1995 55 34,284,000 1,885,620,000 16-Nov-96 July 1995 - June 1996 11 September 1996 16 137,136,000 2,194,176,000 4-Jul-07 July 2006 - June 2007 23 May 2007 1 6,785,159,000 6,785,159,000 5-May-08 July 2007 - June 2008 19 March 08 1 6,785,159,000 6,785,159,000 THE NEXT LEVEL OF INNOVATION 6 Annual Report 2008 • PT Multipolar Tbk Board of COmmISSIONErS Dr. Cheng Cheng Wen President Commissioner Was appointed as the Commissioner of the Company in 2000 and as the President Commissioner in 2002. His over 30 years of international experience, includes extensive career at AT&T, USA, Bell Telephone Manufacturing, Belgium, Philips Electronic China Group, China. Currently, Dr. Cheng is also President Commissioner of PT Matahari Putra Prima Tbk. Dr. Cheng holds a Bachelor of Science degree from National Chengkung University, Taiwan as well as Master of Science and PhD degrees in Electrical Engineering from Iowa State University, USA. THE NEXT LEVEL OF INNOVATION Annual Report 2008 • PT Multipolar Tbk 7 Jonathan L. Parapak Independent Commissioner Was appointed as the Commissioner of the Company in 2000 and as the Independent Commissioner since 2001.
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