PT Summarecon Agung Tbk | Laporan Tahunan 2010 Annual Report

These consolidated financial statements are originally issued in Indonesian language.
1. GENERAL (continued)
_
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)
b. The Company’s public offerings (continued)
In 2005, the Company issued additional 93,676,000 shares with a par value of Rp100 (full amount)
per share which were subscribed for and fully paid by Valence Asset Limited, British Virgin Islands,
at an offering price of Rp775 (full amount) per share. The Company listed all the additional shares
issued on the Jakarta Stock Exchange on November 17, 2005. This increase in the issued and
fully paid capital stock was made under BAPEPAM and LK Regulation No. IX.D.4., Attachment of
the Chairman of BAPEPAM and LK Decision No. Kep-44/PM/1998 dated August 14, 1998
regarding additional shares issuance without pre-emptive rights.
In 2006, the Company distributed 786,881,920 bonus shares with a par value of Rp100 (full
amount) per share (Note 25).
On July 7, 2007, the Company’s Registration Statement to offer its First Limited Public Offering of
Rights to the Stockholders with the Issuance of Pre-emptive Rights, totaling 459,014,453 new
shares and a maximum of 229,507,226 Series I Warrants was declared effective. The Company
listed all such new shares on the Indonesia Stock Exchange (Notes 24 and 25).
In June 2008, the Company distributed 3,217,893,796 bonus shares with a par value of Rp100 (full
amount) per share (Notes 24 and 25).
In June 2010 and December 2009, 436,340,202 and 1,013,046 Series I Warrants were exercised,
respectively (Note 24).
c. The Company’s Subsidiaries
As of December 31, 2010 and 2009, the Company’s Subsidiaries are as follows:
Percentage of
Start of Ownership (%) Total Assets Before Elimination
Principal Commercial
Company Domicile Activity Operations 2010 2009 2010 2009
Direct Subsidiaries
PT Serpong Cipta Kreasi
(SCK) Tangerang Real estate 2004 99.00 99.00 1,515,512,690 1,053,345,549
PT Lestari Mahadibya
(LMD) 1) Tangerang Real estate 2006 59.55 59.55 429,649,522 360,367,119
PT Gading Orchard (GO) Jakarta Real estate 2008 99.99 99.99 1,231,859,221 874,242,026
PT Citra Damai Agung
(CDA) Jakarta Real estate - 99.89 99.89 124,534,950 119,034,061
PT Unota Persadajaya
(Unota) Jakarta Real estate - 99.90 99.90 29,478,506 29,074,596
PT Bahagia Makmursejati
(BMS) Jakarta Real estate 2003 98.75 98.75 22,375,046 22,983,450
PT Summerville Property
Management (SPM) Jakarta Property 2007 99.95 99.20 2,130,473 1,047,807
management
PT Eskage Tatanan Kota
(Eskage) Jakarta Town 2009 99.95 99.00 6,585,408 4,099,775
management
PT Makmur Orient Jaya
(MOJ) Jakarta Real estate - 99.96 99.96 2,520,690 2,476,262
PT Orient City (OC) Jakarta Real estate - 99.96 99.96 2,393,372 2,396,145
PT Summarecon
Hotelindo (SH) Jakarta Hotel 2010 99.99 99.96 91,049,952 19,789,855
PT Mahkota Permata
Perdana (MPP) Bandung Real estate - 99.99 - 222,278,026 -
PT Mahkota Intan
Cemerlang (MIC) Jakarta Real estate - 99.99 - 25,000 -
PT Summarecon Bali Indah
(SBI) Jakarta Real estate - 99.99 - 3,832,803 -
PT Inovasi Jaya Property
(IJP - Note 4) Jakarta Real estate - 99.90 - 112,679 -
8