PT Summarecon Agung Tbk | Laporan Tahunan 2010 Annual Report

These consolidated financial statements are originally issued in Indonesian language.
1. GENERAL
PT SUMMARECON AGUNG Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2010 and 2009
(Expressed in thousands of rupiah, unless otherwise stated)
a. The Company’s establishment
PT Summarecon Agung Tbk (the “Company”) was established within the framework of the
Domestic Capital Investment Law based on notarial deed No. 308 dated November 26, 1975 of
Ridwan Suselo, S.H. The articles of association was approved by the Ministry of Justice in its
Decision Letter No. YA 5/344/6 dated July 12, 1977 and was published in Supplement No. 597 of
State Gazette No. 79 dated October 4, 1977. The articles of association has been amended from
time to time, the latest amendments of which were drawn up in : (a) notarial deed No. 44 dated
July 18, 2008 of Fathiah Helmi, S.H., which was published in Supplement No. 15805 of State
Gazette No. 48 dated June 16, 2009, concerning the increase in the Company’s issued and fully
paid capital stock through the distribution of bonus shares from the capitalization of additional paidin
capital (Notes 24 and 25) and compliance with the Corporation Law No. 40 of Year 2007, which
amendment was approved by the Ministry of Justice and Human Rights in its Decision Letter
No. AHU-50104.AH.01.02 dated August 12, 2008, and (b) notarial deed No. 13 dated June 5,
2009 of Fathiah Helmi S.H., concerning the change in the composition of the Company’s boards
of directors and commissioners, which amendment was acknowledged and recorded by the
Ministry of Justice and Human Rights based on its Decision Letter No. AHU-AH.01.10-10706
dated July 17, 2009.
According to Article 3 of the Company’s articles of association, its scope of activities comprises
real estate development, leasing of properties and operating recreational facilities and restaurants.
The Company's head office is located in Plaza Summarecon, Jl. Perintis Kemerdekaan
Kav. No. 42, Jakarta.
The Company started commercial operations in 1976.
b. The Company’s public offerings
The Chairman of the Capital Market and Financial Institutions Supervisory Agency (BAPEPAM and
LK), through his letter No. SI-085/SHM/MK.10/1990 dated March 1, 1990, declared effective at that
date, the offering of 6,667,000 Company shares with a par value of Rp1,000 (full amount) per
share to the public at an offering price of Rp6,800 (full amount) per share. The Company listed all
its issued shares on the Indonesia Stock Exchange on August 14, 1996 (Note 25).
Based on the minutes of the stockholders’ extraordinary meeting which were notarized under deed
No. 191 dated June 21, 1996 of Sutjipto, S.H., the stockholders approved the reduction in the par
value of the Company’s shares from Rp1,000 (full amount) to Rp500 (full amount) per share.
The amendment was approved by the Ministry of Justice in its Decision Letter
No. C2.9225.HT.01.04.TH.96 dated September 27, 1996.
Based on the minutes of the stockholders’ extraordinary meeting which were notarized under deed
No. 99 dated June 21, 2002 of Sutjipto, S.H., the stockholders approved the reduction in the par
value of the Company’s shares from Rp500 (full amount) to Rp100 (full amount) per share. The
amendment was approved by the Ministry of Justice and Human Rights in its Decision Letter
No. C-12844 HT.01.04.TH.2002 dated July 12, 2002.
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