PTPabrikKertasTjiwiKimiaTbk.

Business

Pulp,PaperandStationery

CompanyStatus

PMDN

Underwriter

PTFICORINVEST,PTBAPINDO,PTDanareksa,PTWardleyJamesCapelIndonesia

Shareholder
2000
PTPurinusaEkapersada
Cooperative
Public

2001
63.40% PTPurinusaEkapersada
0.10% Public
36.50%

2005
PTPurinusaEkapersada
Public

2006
63.35% PTPurinusaEkapersada
36.65% Public

2002
63.40% PTPurinusaEkapersada
36.60% Cooperative
Public

2007
63.35% PTPurinusaEkapersada
36.65% Public

2003
63.30% PTPurinusaEkapersada
0.10% Cooperative
36.60% Public

2008
63.40% PTPurinusaEkapersada
36.60% Public

2004
63.30% PTPurinusaEkapersada
0.10% Public
36.60%

63.35%
36.65%

2009
59.60% PTPurinusaEkapersada
40.40% Public

59.00%
41.00%

Management & Number of Employees

Board of Commissioners

Board of Directors

Number of Employees

2000 President Commissioner

Vice President Commissioners
Commissioners

Eka Tjipta Widjaja

Sukmawati Widjaja
Indra Widjaja, Djafar Widjaja,
Samuel Bonsajang, John Pandelaki,
Hendrik Tee

President Director
Directors

Yudi Setiawan Lin

Teguh Ganda Wijaya, Muktar Widjaja,
Suresh Kilam, Hie Tjin Men (Hui Kin),
Franky O. Widjaja, Buwono Sutjitro

13,550

2001 President Commissioner

Commissioners

Eka Tjipta Widjaja

Indra Widjaja, Djafar Widjaja, Samuel Bonsajang,
John F. Pandelaki, Hendrik Tee, Gandi Sulistiyanto Soeherman

President Director
Directors

Yudi Setiawan Lin

Teguh Ganda Wijaya, Muktar Widjaja, Suresh Kilam,
Hie Tjin Men (Hui Kin), Franky O. Widjaja, Buwono Sutjitro

14,915

2002 President Commissioner

Commissioners

Teguh Ganda Wijaya

Hendrik Tee, Drs. John F. Pandelaki,
Ir. Gandi Sulistiyanto Soeherman, Raymondc Liu, Ph.D.,
Arthur Tahya, Letjend. TNI (Purn.) Soetedjo,
Hajjah Ryani Soedirman, Mas Achmad Daniri,
Prof. DR. Teddy Pawitra, Drs. Ferdinand A. Sonneville

President Director
Directors

Yudi Setiawan Lin

Hendra Jaya Kosasih, Muktar Widjaja, Suresh Kilam,
Indra Widjaja, DR. Ong Piet Tjing, Tsai-Huan Chi

14,511

2003 President Commissioner

Commissioners

Teguh Ganda Wijaya

Drs. John F. Pandelaki, Ir. Gandi Sulistiyanto Soeherman,
Raymond Liu, Ph.D, Arthur Tahya, Letjend. TNI (Purn) Soetedjo,
Hajjah Ryani Soedirman, Mas Achmad Daniri,
Prof. DR. Teddy Pawitra, Kamardy Arief

President Director
Vice President Directors

Yudi Setiawan Lin

Hendra Jaya Kosasih, Muktar Widjaja,
Indra Widjaja
Suresh Kilam, Michael Peter Black,
Agustian Rachmansjah Partawidjaja

14,511

2004 President Commissioner

Commissioners

Teguh Ganda Wijaya

Drs. John F. Pandelaki
Ir. Gandi Sulistiyanto Soeherman, Raymond Liu, Ph.D
Arthur Tahya, Letjend. TNI (Purn) Soetedjo
Hajjah Ryani Soedirman, Prof. DR. Teddy Pawitra
Kamardy Arief, Mas Achmad Daniri

President Director
Directors

Yudi Setiawan Lin

Hendra Jaya Kosasih
Muktar Widjaja
Indra Widjaja
Suresh Kilam
Michael Peter Black
Agustian Rachmansjah Partawidjaja

14,500

2005 President Commissioner

Vice President Commissioners
Commissioners

Teguh Ganda Wijaya

Ir. Gandi Sulistiyanto Soeherman
Drs. John F. Pandelaki
Arthur Tahya, Letjend. TNI (Purn) Soetedjo
Hajjah Ryani Soedirman, Kamardy Arief,
Prof. DR. Teddy Pawitra
Linda Suryasari Wijaya Limantara

President Director
Directors

Yudi Setiawan Lin

Hendra Jaya Kosasih, Muktar Widjaja,
Suresh Kilam, Michael Peter Black,
Agustian Rachmansjah Partawidjaja,
Raymond Liu, Ph.D

14,500

2006 President Commissioner

Vice President Commissioners
Commissioners

Teguh Ganda Wijaya

Ir. Gandi Sulistiyanto Soeherman
Drs. John F. Pandelaki
Arthur Tahya
Letjend. TNI (Purn) Soetedjo
Hajjah Ryani Soedirman
Prof. DR. Teddy Pawitra
Kamardy Arief
Linda Suryasari Wijaya L

President Director
Directors

Yudi Setiawan Lin

Hendra Jaya Kosasih
Suresh Kilam
Ir. Buyung Wahab, MM
Agustian Rachmansjah P
Raymond Liu, Ph.D
Lu Ho-Chang

13,600

2007 President Commissioner

Vice President Commissioners
Commissioners

Teguh Ganda Wijaya

Ir. Gandi Sulistiyanto Soeherman
Drs. John F. Pandelaki, Kamardy Arief, Ramelan, SH,
Arthur Tahya, Indah Suryasari Wijaya Limantara,
Prof. DR. Teddy Pawitra, Letjend. TNI (Purn) Soetedjo

President Director
Directors

Yudi Setiawan Lin

Hendra Jaya Kosasih, Suresh Kilam, Ir. Buyung Wahab, MM,
Raymond Liu, Ph.D, Linda Suryasari Wijaya Limantara,
Agustian Rachmansjah Partawidjaja, Lu Ho-Chang

13,114

2008 President Commissioner

Vice President Commissioners
Commissioners

Teguh Ganda Wijaya

Ir. Gandi Sulistiyanto Soeherman
Drs. John F. Pandelaki, Arthur Tahya,
Letjend. TNI (Purn) Soetedjo,
Ramelan, SH, Drs. Pande Putu Raka, MA

President Director
Directors

Yudi Setiawan Lin

Indah Suryasari Wijaya Limantara, Agustian R. Partawidjaja,
Ir. Buyung Wahab, MM, Hendra Jaya Kosasih, Suresh Kilam,
Lu Ho-Chang, Linda Suryasari Wijaya Limantara

12,822

2009 President Commissioner

Vice President Commissioner
Commissioners

Teguh Ganda Wijaya

Ir. Gandi Sulistiyanto Soeherman
Drs. John F. Pandelaki
Arthur Tahya, Letjend. TNI (Purn) Soetedjo
Ramelan, SH, Drs. Pande Putu Raka, MA

President Director
Directors

Yudi Setiawan Lin

Indah Suryasari Wijaya Limantara
Suresh Kilam
Ir. Buyung Wahab, MM
Agustian Rachmansjah Partawidjaja
Hendra Jaya Kosasih
Lu Ho-Chang
Linda Suryasari Wijaya Limantara
Raymond Liu, Ph.D

12,822

Directors

Total Assets
Current Assets
of which
Cash on hand and in banks
Cash and cash equivalents
Time deposits
Trade receivables
Inventories
Receivable from affiliates
Non-current Assets
of which
Fixed Asset Net
Deffered Tax Assets-Net
Investments
Other Assets
Liabilities
Current Liabilities
of which
Bank loans
Short-term debt
Bank borrowings
Trade payables
Payable to affiliates
Taxes payable
Accrued expenses
Current maturities of
long-term debt
Long-term Liabilities
of which
Bank borrowings
Convertible bonds
Non-Current Liabilities
Minority Interests in Subsidiaries

1999

2000

15,743,980
5,261,718

16,467,512
5,916,033

20,736,232
3,648,060

891,433

1,276,246

122,610
2,410,968
1,442,131

143,294
2,602,487
1,450,368

10,266,607

10,379,103

13,619,364

14,085,080

2005

22,616,305
4,229,989

18,994,899
3,837,157

17,892,932
4,128,807

19,794,288
5,829,819

20,709,412
6,158,441

45,682

135,211

217,669

72,499

177,297

330,980
2,676,007
2,213,998

1,600,626
1,671,572

172,377

3,468,809

4,301,236

9,961,335
2,421,243

15,485,888
15,167,285

17,452,556
16,964,301

113,814

1,494,373

796,604

481,550
841,591

1,391,910

1,984,150

2,716,132

358,124
7,730,721

335,295
7,540,075

2,651,319
318,527

11,446,607
488,195

16

76

60

5,774,693
3,804,542

6,506,177
3,813,560

5,250,344
5,154,142
289,781

995,500
1,742,156

1,128,539
1,605,832

1,300,506
2,193,187

1,190,723
2,123,594

15,157,742

13,764,125

13,964,469

14,550,971

11,494,804
393,053

10,295,893
464,302

11,153,489
54,977

11,668,335
11,024

14,975,613
14,975,569

14,355,229
14,355,190

14,144,947
2,148,569

14,589,856
2,025,390
470,819

1,755,716

2,478,182

Net Sales
Cost of Good Sold
Gross Profit
Operating Expenses
Operating Profit
Other Income (Expenses)
Profit (Loss) before Taxes
Profit (Loss) after Taxes

4,482,876
2,799,984
1,682,892
616,713
1,066,179
(285,882)
780,297
807,296

6,164,603
4,163,982
2,000,621
695,211
1,305,410
(567,461)
737,949
738,320

Per Share Data (Rp)

Earnings (Loss) per Share
Equity per Share
Dividend per Share
Closing Price

212
1,518
2,075

1
2
3
4

2004

215,655

214,436

Growth (%)
Indicators
Total Asset
Share Holder's Equity
Net Sales/Revenue
Net Provit

2,003

9,969,288
2,238,566

214,434

Current Ratio (x)

Debt to Equity (x)
Leverage Ratio (x)
Gross Profit Margin (x)
Operating Profit Margin (x)
Net Profit Margin (x)
Inventory Turnover (x)
Total Assets Turnover (x)
ROI (%)
ROE (%)

2,002

359,223

Shareholders' Equity
Paid-up capital
Paid-up capital
in excess of par value
Revaluation of fixed assets
Retained earnings (accumulated loss)

Financial Ratios
PER (x)
PBV (x)
Dividend Payout (%)
Dividend Yield (%)

(million rupiah)
2001

1998

437,447
1,745,783

294,179
760,304

489,057
396,375

413,097

10,081,837

9,774,323

151,551

265,680

45

38

11,996,378

12,564,466

5,163,749
5,586,563

4,019,286
4,807,667

3,537,703
4,537,471

5,649,341
5,025,221

6,119,556
5,285,748

314,093

270,301

255,110

282,532

297,180

(193,579)

(736,907)

(1,058,683)

(1,254,878)

7,954,668
7,360,334
594,333
1,186,038
(591,704)
(2,656,040)
(3,247,744)
(3,242,832)

7,388,342
5,746,102
1,642,240
1,370,734
271,506
(1,049,388)
(777,881)
(527,088)

6,967,555
5,493,661
1,473,894
873,292
600,602
(1,258,281)
(657,679)
(424,517)

7,350,096
5,712,508
1,637,588
949,357
688,230
1,037,263
1,725,494
(255,694)

8,422,216
6,482,156
1,940,060
1,098,235
841,825
(1,225,403)
(383,578)
1,731,356

9,116,239
7,508,789
1,607,450
1,040,058
567,392
(194,170)
373,222
177,331

194
1,706
60
2,275

(629)
1,019
625

(94)
924
185

(300)
2,841
n.a
155

(191)
2,649
n.a
575

1,171
3,820
n.a
2,275

133
4,581
n.a
3,150

10
1
-

11.75
1.33
30.99
2.64

(0.99)
0.61
-

(1.96)
0.20
-

(0.52)
0.05
n.a
n.a

(3.00)
0.22
n.a
n.a

1.94
0.60
n.a
n.a

23.73
0.69
n.a
n.a

2.35
1.73
0.63
0.38
0.24
0.18
1.94
0.28
5.13
13.98

2.44
1.53
0.60
0.32
0.21
0.12
2.87
0.37
4.48
11.35

0.24
2.95
0.75
0.07
n.a.
n.a.
3.32
0.38
(15.64)
(61.76)

0.25
3.38
0.77
0.22
0.04
n.a.
3.44
0.33
(2.33)
(10.21)

0.26
3.73
0.79
0.21
0.09
n.a
3.15
0.37
(2.23)
(10.56)

0.29
4.06
0.80
0.22
0.09
n.a
3.56
0.41
(1.43)
(7.23)

2.71
2.50
0.71
0.23
0.10
20.56
2.96
0.43
8.75
30.65

3.04
2.38
0.70
0.18
0.06
0.02
3.54
0.44
0.86
2.90

1999
4.60
12.67
37.51
(8.54)

2000
25.92
(19.30)
29.04
(539.22)

2001
9.07
(1.65)
(7.12)
(83.75)

2,002
(16.01)
(22.16)
(5.70)
(19.46)

2,003
(5.80)
(11.98)
5.49
(39.77)

2004
10.63
59.69
14.59
(777.12)

2005
4.62
8.32
8.24
(89.76)

1998

341,587

536,627

SUMMARY OF FINANCIAL STATEMENT

PT. Pabrik Kertas Tjiwi Kimia Tbk. (TKIM)

2006

(millionrupiah)
2007

2008

TotalAssets
CurrentAssets
ofwhich
Cashandcashequivalents
TradeReceivables
Inventories
NonCurrentAssets
ofwhich
FixedAssetsNet
DefferedTaxAssetsNet

19,102,295
5,897,981

20,413,709
6,717,247

24,783,879
8,491,108

266,689
963,559
2,673,621
13,204,314

299,054
1,715,617
3,033,952
13,696,462

555,931
2,767,437
2,756,139
16,292,770

10,795,617
10,370

11,267,198
9,547

13,573,436
n.a

Liabilities
CurrentLiabilities
ofwhich
Bankloans
Tradepayables
Currentmaturitiesof
longtermdebt
NonCurrentLiabilities

14,060,965
2,309,810

15,057,550
2,651,850

17,991,144
3,284,911

347,883
674,675

481,739
714,151

1,053,371
1,118,250

292,410
11,751,155

379,512
12,405,700

370,476
14,706,234

Shareholders'Equity
Paidupcapital
Paidupcapital
inexcessofparvalue
Retainedearnings(accumulatedloss)

5,041,330
4,847,955

5,356,159
5,059,600

6,792,734
5,882,007

272,566
(79,191)

284,465
12,094

330,703
580,024

NetSales
CostofGoodsSold
GrossProfit
OperatingExpenses
OperatingProfit(Loss)
OtherIncome(Expenses)
Profit(Loss)beforeTaxes
Profit(Loss)afterTaxes

8,633,893
7,511,688
1,122,205
991,285
130,920
(306,120)
(175,200)
(571,372)

10,877,859
9,386,828
1,491,031
1,098,925
392,106
(314,079)
78,026
94,742

14,878,798
12,610,427
2,268,371
1,327,444
940,926
(463,363)
477,563
565,965

PerShareData(Rp)
Earnings(Loss)perShare
EquityperShare
DividendperShare
ClosingPrice

(428)
3,774
n.a
1,780

71
4,010
n.a
990

424
5,086
n.a
1,150

FinancialRatios
PER(x)
PBV(x)
DividendPayout(%)
DividendYield(%)

(4.16)
0.47
n.a
n.a

13.96
0.25
n.a
n.a

2.71
0.23
n.a
n.a

2.55
2.79
0.74
0.13
0.02
n.a
2.81
0.45
(2.99)
(11.33)

2.53
2.81
0.74
0.14
0.04
0.01
3.09
0.53
0.46
1.77

2.58
2.65
0.73
0.15
0.06
0.04
4.58
0.60
2.28
8.33

CurrentRatio(x)
DebttoEquity(x)
LeverageRatio(x)
GrossProfitMargin(x)
OperatingProfitMargin(x)
NetProfitMargin(x)
InventoryTurnover(x)
TotalAssetsTurnover(x)
ROI(%)
ROE(%)
PER=5.03x;PBV=0.35x(June2009)
FinancialYear:December31
PublicAccountant:JimmyBudhi&Co.