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)
c. The Company’s Subsidiaries (continued)
In 2010, the Company established a new Subsidiary, named PT Mahkota Permata Perdana (MPP)
with capital stock of Rp200,000,000, which was subscribed and fully paid by the shareholders by
Rp50,000,000. The Company acquired 49,999 shares for Rp49,999,000, with nominal amount of
Rp1,000,000 (full amount), representing 99.998% of ownership. Further in December 2010, MPP
increased its capital stock from Rp200,000,000 to become Rp500,000,000 and increased its
issued and fully paid capital stock from Rp50,000,000 to become Rp130,000,000 with nominal
amount of Rp1,000,000 (full amount). The Company acquired additional 80,000 shares for
Rp80,000,000, therefore, increased the Company’s ownership from 99.998% to 99.9992%. It was
notarized under notarial deed No. 64 dated December 16, 2010 of Dewi Himijati Tandika, S.H.,
and was approved by the Ministry of Justice and Human Rights in its Decision Letter No.AHU-
06701.AH.01.02 dated February 9, 2011.
In 2010, the Company established new direct Subsidiaries, MPP, MIC SBI, IJP (Note 4), SPD and
SIP and new indirect Subsidiaries, STK, BIP and BID.
As of December 31, 2010 and 2009, CDA, Unota, MOJ, OC, MPP, MIC, SBI, IJP, SPD, SIP, JBA,
BKV, STK, BIP and BID have not started commercial operations.
d. Commissioners, directors, audit committee and employees
The composition of the Company's Boards of Commissioners and Directors as of December 31,
2010 is as follows:
Board of Commissioners Directors
President Commissioner : Soetjipto Nagaria President Director : Johanes Mardjuki
Commissioner : Harto Djojo Nagaria Director : Lexy Arie Tumiwa
Commissioner : Sumantri Gangga Director : Liliawati Rahardjo
Independent Commissioner : H. Edi Darnadi Unaffiliated Director : Lilies Yamin
Independent Commissioner : Esther Melyani Homan Director : Soegianto Nagaria
Director : Herman Nagaria
Director : Yong King Ching
The composition of the Company's Boards of Commissioners and Directors as of December 31,
2009 is as follows:
Board of Commissioners Directors
President Commissioner : Soetjipto Nagaria President Director : Johanes Mardjuki
Commissioner : Sunardi Rusli Director : Lexy Arie Tumiwa
Commissioner : Harto Djojo Nagaria Director : Liliawati Rahardjo
Commissioner : Sumantri Gangga Unaffiliated Director : Lilies Yamin
Independent Commissioner : H. Edi Darnadi Director : Soegianto Nagaria
Independent Commissioner : Esther Melyani Homan Director : Herman Nagaria
The composition of the Company’s Audit Committee as of December 31, 2010 and 2009 is as
follows:
Chairman : H. Edi Darnadi
Member : Poespita Pelangiwati
Member : Esther Melyani Homan
Salaries and other compensation benefits of the Boards of Commissioners and Directors
amounted to approximately Rp26.1 billion (full amount) and Rp22.4 billion (full amount) in 2010
and 2009, respectively. The Company and Subsidiaries had 1,339 and 1,286 permanent
employees (unaudited) in 2010 and 2009, respectively.
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