2012 PGN Annual Report

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Highlights of
2012 Performance
Adoption of USD reporting

Starting 2012, the Company changed
the presentation currency of the
consolidated financial statements from
Rupiah to United States Dollars (USD).
This was due to the adoption of PSAK
No. 10 The Effects of Changes in
Foreign Exchange Rates. The change
of currency presentation minimized the
fluctuation of translation gain/loss in
the financial statements, thus reflected
a more accurate financial performance.
Independent Auditor Report
Consolidated financial statements are
fairly stated in all material respects in
accordance with financial accounting
standards in Indonesia.
Presentation and Disclosure of
Financial Statements
In presenting and disclosing of financial
statements, PGN has complied with
BAPEPAM and LK Regulation
No. VIII.G.7 regarding Presentation
and Disclosure of Financial Statements
of Public Company.
s
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36
48
6,
3,
66
86
3,
1,
01
8,
15
21
89
8,
8,
1,
00
7
3,
49
6,
57
12
10
11
12
11
NET REVENUES
(USD)
03
07
7,
39
0,
23
2,
10
2,
2,
17
8,
49
0,
41
Key
Ac
hie
Pe ve
rfo m
rm
an
2
0
1
OPERATING PROFIT
(USD)
Pagardewa Station, Palembang, South Sumatera
In 2012, PGN booked Operating Profit of USD1.02 billion,

EBITDA of USD1.19 billion, generating Profit Attributable
11
12
10
11
12
GROSS PROFIT
(USD)
11
10
11
04
0.
3
0.
0
03
12
TOTAL INCOME ATTRIBUTABLE

TO OWNERS OF THE PARENT ENTITY
(USD)
0.
88
,7
68
42
0,
80
4,
73
89
3
0,
88
5,
45
6
(USD)
67
1,
1
10
30
1,
39
2,
1,
47
1,
10
EBITDA
12
BASIC EARNINGS
PER SHARE
(USD)
3
9,
09
92
57
1,
34
2,
1,
38
1,
6,
1,
71
8,
18
23
1
26
43
5,
29
8,
1,
07
1,
18
3,
18
8,
92
to the Parent Company of USD890.89 million
Contents
Contents
1
Key Performance 2012

4 PGNs Strategy
Energy for Life
1 Highlights of 2012 Performance

25
30
32
33
Triple Bottom Line

Financial Highlights
Operating Highlights
Stock Highlights
2 Report to the Shareholders

37 Report from the Board of Commissioners
43 Report from the Board of Directors
Companys Profile
53 PGNs Profile
56 Addresses of Head Office, SBU, Subsidiaries
and Affiliates
58 Brief History
60 Line of Business
61 Business Model
66 Organization Structure
68 Our Vision, Mission and Culture
70 Profiles of the Board of Commissioners
74 Profiles of the Board of Directors
80 Composition of the Board of Commissioners
81 Composition of the Board of Directors
82 Human Resources Development
82 Employee Composition
84 Competence Development
87 Composition of Shareholders
88 Share Ownership by Directors and
Commissioners as of 31 December 2011
90 Information About Subsidiaries and Affiliated
Companies
94 Profile of Subsidiaries and Affiliated
Companies
102 Chronology of Stock Listing
103 Listing Chronology of the Other Securities and
Securities Rating
104 Names and Addresses of Agency and or
Capital Market Supporting Professionals
106 Awards and Certifications
108 Significant Events in 2012
PT Perusahaan Gas Negara (Persero) Tbk
113 PGNs Transformation

118 Strategic Map for 2013
5 Managements Discussion
and Analysis
Operational Review
122 Transmission/Transportation Business
Segments
124 Distribution/Trading Business Segments
134 Other Business Segments
134 Marketing Aspects
Financial Review
136
140
141
141
143
144
144
144
144
145
145
150
152
153
154
154
154
155
155
155
155
158
160
160
161
161
Revenues
Cost of Revenues
Gross Profit
Operational Expense
Operational Profit
Other Comprehensive Income After Tax
Profit For the Year Attributable to Owners of
the Parent Entity
Profit for the Year Attributable to Non
Controlling Interest
Total Comprehensive Income for the Year
Attributable to Owners of the Parent Entity
Attributable to Non Controlling Interest
Assets
Liabilities
Equity
Cash Flow
Solvency
Collectibility
Capital Structure
Management Policy on Capital Structure
Material Commitments Related to Capital
Investment
Material Information or Facts Subsequent to
the Accountants Report Date
Business Prospects
Business Development
Achievement Target in 2012
Next Year Target
Dividend Policy
Use of IPO Proceeds
Laporan Tahunan 2012
energy for life
Contents
161 Material Information Regarding Investment,

Expansion, Divestment, Acquisitions or Debt/
Capital Restructuring, Conflict of Interest and
Related Party Transactions with Affiliated
162 Changes in the Laws and Regulations to the
Company
163 Changes In Accounting Policy
164 Prospective Statement
6 Good Corporate Governance

168
170
172
176
184
189
190
191
198
Corporate Governance Structure

GCG Assessment
Description of the Board of Commissioners
Description of the Board of Directors
General Meeting of Shareholders
GCG Assessment to the Board of
Commissioners and/or Board of Directors
Committees
Profile of the Audit Committee
Profile of Risk Management Monitoring
Committee and Business Development
Corporate Secretary
204
206 Investor Relations Activity in 2012
208 Internal Audit Unit
212 Internal Controlling System
216 Corporate Code of Conduct
222 PGNs Culture
226 Whistleblowing System
227 Significant Cases Faced by PGN
234 Access to Information
7 Corporate Social and

Environmental Responsibility
229
240
249
274
286
Scope and Funding of SER

Labor, Occupational Safety and Health
Social and Community Development
Product and Consumer Responsibility
519
Statement Letter of the

Members of the Board of
Commissioners and Board of
Directors of Annual Report
2012
520
Bapepam-LK No. X.K.6 Year

2012 Cross Reference
532
Glossary
Important Tables and
Graphics
25 Infographics of Triple Bottom Line

62 Infographics of PGNs Source of Gas, Pipeline
Network and Facilities
64 Infographics of Natural Gas for the Nation
123 Graphic of Transmission/Transportation
Business Performance
125 Graphic of the Length of Natural Gas
Distribution Pipeline Network
126 Graphic of Distribution Business Performance
133 Graphic of the Comparison of Oil Fuel Price
and PGNs Natural Gas Price in 2012
138 Infographic of the Competitive Advantage of
Natural Gas Utilization
160 Achievement of 2012 Target
170 Table of GCG Assessment Result in 2012
175 Table of Remuneration of the Board of
Commissioners in 2012
182 Table of the Remuneration of the Directors
in 2012
189 Table of Companys Performance Indicators
190 Table of Other Supporting Performance
Indicators
8 Consolidated Financial
Statements
297 Consolidated Financial Statements
Laporan Tahunan 2012
energy for life
Energy for Life
ene
rgy
for
lif
e
Helping shape
a better tomorrow
for all of Indonesia
While the global economy continues its slow rebound,
Indonesia stands on the threshold of a dynamic, extended
expansion. And here at PGN, were bringing together
the clean energy resources, integrated infrastructure and
technology to help fuel it.
In 2012, PGN executed a cohesive, new growth strategy,
aggressively pursuing opportunities along the entire
natural gas value chainupstream, midstream, and
downstream. Its already paying dividends to the nation.
Our 2012 operational performance is a case in point. Net
revenues rose to USD 2.58 billion, a 15.52% increase over
that of the previous year. Its just one of the many ways
we support Indonesias growing future.
Indonesias demand for electric power

continues to grow. PGN is helping power
generation plants meet that demand,
supplying them with clean-burning, lowcost natural gas. Both environmentally and
economically, natural gas is becoming the
preferred fuel choice over coal or diesel oil.
The power generation industry is PGNs largest
market, consuming 40% of PGNs total total
sales volume in 2012.
Were keeping
the lights burning
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y
g
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p
ener
PLTG Muara Tawar, Jakarta
ene
rgy
for
in
du
y
r
st
Were continuing
our essential role in
manufacturing
From cement production to furniture making,
natural gas is critical to Indonesias growing
manufacturing sector. In 2012, the nations industrial
production was expected to increase, on average
6.8% (source:www.kemenperin.go.id). PGNs new
midstream floating liquefied natural gas (LNG)
receiving terminal in Jakarta Bay is designed to keep
pace. One-third of its capacity will go to PLN, the
state-owned electricity company, to run its turbines.
The rest will eventually serve industryhelping to
close the gap between supply and demand.
PT Dalle Energy, Batam
Small- and medium-sized enterprises

(SMEs) involved in industrial processing
are the backbone of Indonesias economy.
Through our partnership program,
PGN provides soft loan schemes for its
partners, thus helping their businesses
grow more rapidly.
Were heating up small and

medium-sized enterprises.
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en
Grilled Chicken and Meatball stall of Mas Tarjo in Palembang
ene
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gro for
wt
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Were fueling
economic expansion.
The surging demand for natural gas in
Indonesia is expected to continue in 2013
and beyond. PGN is taking steps to meet
it. By renegotiating its contract pricing
with major suppliers ConocoPhillips and
Pertamina, PGN improved its ability to provide
the secure, sustainable supply of natural gas
that Indonesias industrial/commercial base
needs for future development.
Bundaran Hotel Indonesia, Jakarta
Not only is the Indonesian economy

growing, but so is PGN. The integrated,
three-tier business model put in place
in 2011 is enabling us to strengthen
our natural gas transmission and
distribution operations while developing
new businesses along the natural
gas value chain. In 2012, PGN began
delivering gas from Indonesias first LNG
receiving terminal in West Java, started
construction on a second terminal,
and continued to pursue upstream
opportunities in gas exploration and
exploitation.
ity
Were opening
new doors
un
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r
o
r
o
f
p
y
p
g
r
e
o
n
e
FSRU Nusantara Regas, Jakarta Bay
ene
rgy
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r
fu
e
h
e
t
r
tu
Receiving station facility at Muara Bekasi, West Java

Photo by:
Bambang Sutriyanto,
Operation Area III Muara Bekasi Station
Were building the

infrastructure to
sustain it.
With oil prices continuing to escalate, low-cost, cleanburning natural gas is becoming an increasingly vital
component in Indonesias energy mix. So PGN is hard at
work creating the natural gas infrastructure to support the
nations growing needs. Were building on the foundation
that we started in 2011. We are transforming PGN from a
gas pipeline company into an integrated energy supplier
complete with upstream, midstream, and downstream
operations. In the process, were transforming Indonesias
future too
Energy for Life
16
The world is moving
The world
is moving
Global Economic Situation

In 2012, weaknesses in major developed economies, particularly those in Europe and the
United States, were at the root of continued global economic stress. Global GDP growth
also decelerated, going from 4% in 2011 to 2.5% in 2012. This slowdown is affecting
developed economies as well as developing ones. For Asia, China, and India in particular,
the global slowdown continues to affect their progress on achieving Millennium
Development Goals.
In contrast to this, Indonesias economic growth in 2012 remained stable at 6.23%
(www.bps.go.id). Indonesias strong fundamental economy is supported by agriculture,
local domestic manufacturing industries, and infrastructure developmentall aimed at
realizing the Master Plan for the Acceleration and Expansion of Indonesias Economic
Development (MP3EI).
Annual Report 2012
energy for life
Energy for Life
17
The world is moving
Current Development of Global Energy
needs and could potentially become a net exporter
Global energy demand is expected to grow by more
of liquefied natural gas by 2016 (financialtimes.com).
than one-third over the period to 2035, with China,
Despite concerns among some industrial energy users
India, and the Middle East accounting for 60% of the
and pending approval from the US Department of
increase (World Energy Outlook 2012). The global
Energy, this prospect would affect the worldwide
energy map is also changing, with potentially far-
energy landscape and accelerate globalization of the
reaching consequences for energy markets and trade.
natural gas market.
The movements and dynamics seen in 2012 represent

the impact of discoveries of new sources of energy
In Asia, meanwhile, demand for natural gas is growing
supplies in new locations, as well as the relationship
rapidly. Already the worlds largest market, Japans
between fuel demand, supply and prices. In the United
need for LNG in the wake of the Fukushima disaster
States, reliance on coal has declined as gas prices fall.
has grown considerably. China and India, both heavily
The coal is then exported to Europe, where demand
dependent on coal to meet their energy needs, are
for coal is on the increase due to the high price of gas,
looking to capitalise on their own shale formations but
which is still linked to oil prices.
will not be able to move swiftly enough to meet nearterm demand.
In the United States, the recent rebound in US oil and

gas production is spurring new economic activity,
In Indonesia, improving productivity and increasing
primarily driven by low-cost upstream technologies,
the value of natural resources is part of the economic
which are unlocking light, tight oil and shale gas
growth plan. This is articulated in the MP3EI, which
resources. With a plentiful and inexpensive supply
emphasizes the creation and expansion of sustainable
of natural gas from shale rock, the United States
upstream and downstream activities along the energy
has sufficient resources available to satisfy domestic
value chain to strengthen the national energy supply.
Annual Report 2012
energy for life
Energy for Life
18
The world is moving
Indonesias Crude Oil Production
Domestic:
Cride oil production in 2012 was approximately
Near-term strategies that focus on meeting current
860,000 barrels per day (bopd) (www.esdm.go.id), a

decline from 898,000 bopd in 2011. Natural decline
domestic demand for gas

Long-term strategy specifically, exploration and
in crude oil and natural gas production and reserves,
infrastructure development plansthat focus on
plus unplanned shutdown and maintenance activities at
efforts to meet demand from the industry sector,
some E & P (Exploration & Production) companies have
which in turn will deliver optimum economic growth
impaired hitting production targets.
value
The important role of the energy sector in supporting
International:
economic growth and its ongoing impact on national
Near-term strategy to maintain current position in
development has prompted the Government to

introduce a number of strategies to increase domestic
exploitation of natural gas as a replacement for oil:
the Asia-Pacific market based on gas supplies and

ongoing natural gas projects
Long-term strategy to maintain Indonesia LNG and
pipeline gas exports in order to support investment
in the gas business in Indonesia.
PGN has recognized the business potential in the
Governments strategies and has taken the initiative
of expanding its sales and service area and expanding
its gas pipeline network as well as other modes of gas
transportation.
Annual Report 2012
energy for life
Energy for Life
19
Free Trade Zone
The world is moving
The establishment of the ASEAN economic zone in
The Domestic Market Potential of

Natural Gas
Southeast Asia from 2015 and the implementation of
The trend of rising natural gas demand in Indonesia
free trade in ASEAN has increased traffic in services,
and restrictions on the export of unprocessed minerals
investment, labor and capital between the ASEAN
and mining products starting in 2014 will further
member states.
increase demand for natural gas for use in the domestic

processing of mineral and mining products. However,
Ahead of the economic integration of the ASEAN
the gap between gas supply, infrastructure and demand,
countries, Indonesia is undertaking an economic
which are geographically spread apart, has resulted in
transformation, as formulated in the MP3EI, which is to
a lack of integration in the domestic gas market. This
be a catalyst for increasing Indonesias competitiveness
can be seen in the centralization of gas demand in areas
and ensuring that Indonesia is able to derive maximum
of industrial concentration such as West Java, East Java
advantage from the forthcoming integrated economic
and North Sumatra, while gas sources are frequently
zone. One of the economic transformation initiatives
located in remote areas, far from natural gas markets,
is the building of infrastructure that connects natural
and in many cases deep under the sea. Another gap is
gas sources with consumers and ensures the security
that production in a number of gas fields is still tied to
of natural gas supplies for the nation through policies
long-term export contracts, while the country itself is
that prioritize the allocation of natural gas for domestic
experiencing a gas shortage.
interests.
This is where PGN can demonstrate its advantage by
developing an integrated domestic market for natural
gas. With its expertise in the natural gas distribution and
transmission business, PGN can play a role as both an
aggregator and an integrator of natural gas.
This will provide a solution to the gas deficit in several
areas, particularly industrial zones in West Java and
North Sumatra.
Annual Report 2012
energy for life
Energy for Life
20
PGNs contributions to the nation
PGNs contributions
to the nation
Community Development
The development of a natural gas infrastructure is aimed
For more than 47 years, PGN has made a very significant
at increasing the use of natural gas for domestic purposes.
contribution to provide natural gas both in terms of
The collaboration between PGN and local governments
gas infrastructure and natural gas itself. PGN and its
and/or regional enterprises is one result of the synergy
subsidiaries built gas infrastructures that include pipeline
program between State-owned enterprises and local
and other modes of transportation to serve domestic
governments and/or regional enterprises. This synergy is
needs.
expected to stimulate industrial growth and have a positive

impact on the empowerment of the resources in the areas
PGN and subsidiaries have built and currently operate a
concerned. Ultimately, this will push regional economic
distribution network that extends for 3,865 Km and a
growth, as targeted by the Governments MP3EI program,
2,047 Km long transmission pipeline network. Given these
and lead to more equitable economic growth across the
capabilities and experience, PGN has a mandate to develop
nation.
natural gas infrastructure in Indonesia. In carrying out

this mandate, PGN works with local governments, both
directly and through regionally owned enterprises. For local
governments, as the owners of exclusive rights to natural
gas allocations, PGN is a fitting partner because of its
excellent reputation in the gas infrastructure development
business. PGN focuses not only on development in areas
with existing infrastructure, but also in areas that have
potential for development.
Annual Report 2012
energy for life
Energy for Life
21
Enterprise Value (stock price)
Dividend and Tax
The share of PGN PGAS significantly strengthened in
The strong performance of PGAS shares reflects the
2012. Opening at a level of Rp 3,150, PGAS reached a
performance of PGN as a whole, both operationally and
peak of level Rp 4,800 in November 7, 2012 and closed at
financially. The increase in PGNs net profit had a direct
level Rp 4,600 at the end of 2012. The strengthening of
impact on the increase in the dividend paid to the State
PGAS increased the Companys value for shareholders. At
treasury. In 2012, PGN paid a dividend of amounted to
the close of trade in 2012, PGAS had a capitalization value
USD 327.73 million. Of that amount, USD 186.71 million
of USD 11.53 billion, strengthening 44.87% compare to
were paid to the Government as dividend fiscal year 2011.
previous years USD 7.96 billion. For the Government,
The improvement in PGNs financial performance also
as PGAS largest shareholder with a 56.97% stake, the
affected the amount of corporate income tax paid as well
strengthening of PGASs shares meant an increase in the
as other taxes. In 2012, PGN paid a total of USD 220.54
Government Asset Value in the form of shares.
million to the State in the form of income tax, VAT, land

and building tax, and local income taxes and levies. The
increase in PGNs operating performance also increased
other payments to the State, including retribution to BPH
Migas, the downstream oil and gas regulatory agency.
With the increased volume of gas flowing through PGN
pipelines and being sold to customers in 2012, PGN paid
retribution of USD 11.31 million to BPH Migas.
Annual Report 2012
energy for life
Energy for Life
22
Pagardewa gas station in Palembang, South Sumatera, operating since 2007, currently delivers gas of about 500 MMScfd through SSWJ
(South Sumatera West Java) pipeline.
Annual Report 2012
energy for life
Effective on January 1, 2012, the

Company adopted several revised
Indonesian Statements of Financial
Accounting Standards (PSAK) that
were applied either on a prospective or
retrospective basis, including adoption of
PSAK No. 10 The Effects of Changes
in Foreign Exchange Rates whereby
the Company changed the presentation
currency of the consolidated financial
statements from Rupiah to United States
Dollars. Accordingly, the consolidated
statement of financial position of
December 31, 2011 and January 1, 2011/
December 31, 2010 and consolidated
statement of comprehensive income,
consolidated statements of changes in
equity and consolidated statements of
cash flows for the year that ended on
December 31, 2012 and 2011 were
restated.
Annual Report 2012
energy for life
Annual Report 2012
energy for life
Triple Bottom
Line
25
Triple Bottom Line
Profit
1
Profit, USD890.89 million

EBITDA USD 1,188.71 million
ROE 60.86%
Peo
p
et
n
a
l
P
le
People
Planet
1. Freedom of Association

Employee Union of PGN (SP-PGN) was
registered under registration No.387/T/
IX/2009 on September 19, 2009 at
West Jakarta Office of Manpower and
Transmigration
2. Working Environment

Maintaining Communication in daily
activity through corporate portal.
3. Against Forced Labor

implementing regular working hours and
special working hours for activities in
certain areas.
4. Preventing Corruption

Action A State-Owned Enterprise (SOE)
that iniates the implementation of State
Officials Wealth Report (LKHPN) for all
management levels, from supervisors
upwards.
5. Scholarship program
Applies for Taruna Nusantara graduates
Diploma program in school of Energy
and Mineral (STEM)
6. Equal Employment Opportunities

Involving a competent and independent third
party and making public announcement in
various media to provide equal opportunities
to prospective employees who meet
qualification.
7. Community Development
45,181 Units of Partnership Program
2 Kampung Binaan (Pagardewa,
South Sumatera and Garut, Jawa Barat)
Fund distribution of Rp 289.73 billion
for partnership program
8. Industrial Relations

Holding regular Bipartite Communications
every 3 months, between Employee
Associations Coordinator and Management
in order to accomplish objectives and
communications.
1.

2.

3.
CO2 Emmissions Control

Chiller fuel substitutions for air conditioners
Carbon Trail
Implementation of carbon accounting system
Reduce Indirect Energy System 5 R Application:
compact, neat, clean, well-maintained and diligent
4. Trees Replanting

Fruit tree : 69,484 trees

Mangrove tree : 41,374 trees

Replanting program of 460,000 trees in Tourism
Forest of ECO-EDU Sentul forest area.
5. Fund distribution of Rp171.64 billion for
Environment Improvement
6. Fund expenditure of Rp16.21 billion for
occupational Safety and Health activities.
Annual Report 2012
energy for life
26
Triple Bottom Line

to Good Corporate Citizen (GCC)
Triple Bottom Line to Good

Corporate Citizenship (GCC)
Currently, the company operates in a constantly
changing business environment, making business
management increasingly complex. The shortening life
cycle of products, continuous innovation, increasingly
well-informed and demanding consumers and
increased expectations of stakeholders are some of the
challenges we face. Companies that are not able to
adapt to change will not be able to perform reliably,
and their image and reputation will fade, as they
succumb to the competitive landscape.
PGN Management believes that a sustainable,

competitive advantage can be achieved through
a balance of financial performance (financial
performance), human resources and social
advantages (social performance) and supporting
the ecological balance and the environment
(environmental performance). Combining excellent
financial performance with social and environmental
responsibility enables PGN to be a Good Corporate
Citizen (GCC).
The increasingly complex business environment

requires new perspectives and paradigms in order
for companies to be able to grow and develop in a
sustainable manner. Corporate governance requires
being able to build checks and balances both internally
and externally. The companys success is no longer
measured solely by financial success (profit), but also
by its human relations (people) and its contribution
to a green, sustainable and balanced environment
(planet). The new paradigm of corporate excellence
the Triple Bottom Line (3P)balances the advantages
of these three aspects.
PGN was able to meet GCC standards by

implementing it in stages. Each stage had a system
based on internal and external checks and balances.
This resulted in a culture of good corporate
governance so as to meet the expectations of
stakeholders (Good Corporate Citizen).
As a State Owned Enterprise (SOE) serving the needs

of the industry and society, PGN has a strategic role
for improving the quality of community and industry
in order to promote national economic growth.
Recognizing its role as a strategic industry and the
importance of social and environmental equilibrium,
PGN uses the Triple Bottom Line as a paradigm for
corporate governance values. Moreover, we approach
its implementation in a planned, systemic, and
systematic way.
Good Corporate Citizen status was achieved through

the attainment of five (5) goals:
1. Beyond CompliancePioneers in
Implementing State Officials Wealth Report
(LHKPN) for All Management Levels
PGN sets a standard of going beyond what is
required. This is reflected in the implementation
of the State Officials Wealth Report in accordance
with Law No. 28/1999 regarding The State
Organizer who is Free from Corruption, Collusion
and Nepotism. The implementation is mandatory
for all management levels, from supervisors,
upwards including those who are posted in
subsidiaries. The rule is stated in the BOD Decree
signed in 2009 and being reviewed in 2012.
At present, the compliance with LHKPN across PGN
has reached 90%.

To provide education and information for all PGNs
officials who are required to submit LHKPN, PGN
with Committee of Corruption Eradication held a
joint program regarding corruption prevention as
well as socialization and technical assistance to fill
in LHKPN form. The program was held in four units
= SBU 3 on 17 July 2012, SBU 2 on 19 July 2012,
SBU 1 on 24 July 2012 as well as Head Office, SBU
TSJ and Project Unit on 31 July 2012.
Annual Report
Laporan
Tahunan
2012
2012energy
energy
for for
life life
Pioneer of Financial Reporting in U.S. Dollars.

PSAK 10 (Revised 2010) paragraph 21 says In the
accrued financial statements a foreign currency
transaction must be recorded in the functional
currency. Based on this, by January 1, 2012,
PGN began bookkeeping and reporting in USD.
In accordance with this, PGN received approval
from the Ministry of Finance of the Republic of
Indonesia and the Directorate General of Taxes,
Decree No. Kep-278/WPJ.19/2012, dated March
20, 2012, to use USD for its bookkeeping.
Therefore, fluctuations in the profit/loss on foreign
exchange can be minimized and the Financial
Statements are more reliable in reflecting the
actual performance of the company in which
80% of revenues and 70% of expenses are
denominated in USD.
2. Sound Financial and Stock Market Performance
During 2012, performance of PGN shares (PGAS)
exceeded JCI Performance (year on year) up
12.92% while PGAS shares rose 46%. PGAS
stock performance has strengthened significantly
from Rp3,150 in the beginning of the year to
Rp4,600 in the end of 2012, giving a 46% yield
to investors. This condition brought PGAS as
one of the blue chip companies who made Top
8 Market Capitalization in IDX and Top 4 Market
Capitalization among SOEs with value of Rp 111.5
trillion.
27
Triple Bottom Line

Revenues growth exceeded industry growth.

PGN recorded revenue growth of 15.52% and an
increase in profit of 30.86% compared to 2011.
This was primarily due to improved operational
performance from PGNs gas transmission and
business distribution during the year 2012. A
sound that financial performance (net cash
position) that provides flexibility for companies
to accelerate the development of infrastructure
be it pipes, LNGS FSRU or other modes of
transportation and to make minority investment
in upstream sector, while contributing a healthy
dividend to investors.
3. Award in GCG
PGN was the overall winner in the Annual Report
Awards sponsored by Indonesias financial
regulatory authorities for the second time in three
years, PGN also came top in several categories at
the LACPs (League of American Communications
Professionals) 2011 Vision Awards, winning the
Platinum Award for the best report in the gas
utilities sector worldwide. These indicate that
Indonesian institutions and financial authorities
appreciate the application of the principles of
good corporate governance in PGN.
This achievement signifies our commitment
to applying good corporate governance
principles, including transparency, accountability,
responsibility, independence and fairness, to our
shareholders, customers and other stakeholders.
Annual Report 2012
energy for life
28
Overall, PGN scored 90.72 in 2012, up more than 7

points from 2011, for the implementation of Good
Corporate Governance (GCG), in the rating of the
annual independent appraiser for the performance
of SOEs.
GCG implementation was developed within the
company through the implementation of GCG
training, which is included in the mandatory
competencies required of all workers at PGN.
4. The Presence of PGN Operations Accepted by Society

through Corporate Social Responsibility (CSR).
PGN is fully committed to improving the quality of
life of the community, especially for those in the
vicinity of PGNs operations areas. Implementation
of programs in the social field takes the form of
CSR, which consists of programs in community
development and social responsibility and the
environment, and which is part of the commitment
to integrate CSR into the implementation of the
companys overall operations.
Triple Bottom Line

In the health sector, PGN implements assistance

programs to improve health services by providing
Mobil Sehat PGN, cooperation with Rumah
Zakat and by building healthy houses. PGN also
designed programs of worship facilities and public
infrastructures such as renovation of suspension
bridge in Pagar Dewa, providing electricity to
the communities in Way Kanan and Pacitan, and
providing of three arm-roll garbage trucks to
support clean environment in Bandar Lampung.
PGN is also actively involved in responding to help
victims of natural disasters such as the tornado in
Garut, landslides in Bali, flooding in the Banten
and Jakarta areas, the devastating earthquake in
Sukabumi and drought in the East Java region. These
were expression of PGNs concern and emphaty for
the affected communities.
CSR programs are designed to touch all aspects

of social life, such as the preservation of the
environment through tree planting and integrated
waste management, and encouraging education
through the construction of schools and public
reading rooms, and through scholarships and
financial aid ranging from primary education up to
higher education.
Annual Report 2012
energy for life
5. PGN Has Become a Company of Choice by

Talented Applicants throughout the Nation.
PGN looks upon HR as important assets in the
sustainability of the business, in terms of Profit,
People and Planet (environment). By applying
GCG, PGN always strives to create a work
environment that is safe, comfortable, healthy and
complies with labor regulation. This indicated by
the low labor turnover supported by conducive
work environment.
PGN provides equal opportunities to qualified
young men and women to join PGNs recruitment.
To assure independence and transparency,
PGN conducted the selection process with the
assistance of independent parties. The employee
selection process is carried out through three
programs 1) regular recruitment of external
resources, 2) internal recruitment from within
the company as an expression of appreciation for
performance and loyalty, and 3) recruitment of
national athletes as evidence of PGNs support to
Governments programs to guide and to appreciate
the athletes who have rendered service.
29
Triple Bottom Line

specific to a particular region, especially remote

working areas. The HR competency development
program was implemented with a total cost
of USD5.31 million during 2012. In addition,
PGN also provides internship opportunities for
employees in prominent companies throughout the
region. PGN also provides a scholarship program
for six employees who had passed the selection
process they will start the Master Program at
several universities in the United States in 2013.
PGN ensures that the remuneration received by the

employees is above the minimum wage provisions,
including THR normative provisions, granting paid
leave, granting official anniversary provisions for
officers who have served the Company at least 16
years and providing incentive annual performance.
To ensure the welfare of its employees, PGN
provides health insurance for employees and their
families through the social security program.
Another step taken by PGN to provide a conducive

environment for employee welfare is to implement
the provisions of the working time limits in
accordance with the area and the activities
required. Work time regulations apply to regular
working hours, time shift work, and work time
Annual Report
Laporan
Tahunan
2012
2012energy
energi
forbagi
life kehidupan
30
CONSOLIDATED STATEMENTS
of COMPREHENSIVE INCOME
Net Revenues
Cost of Revenues
Gross Profit
2012
2011
2010
USD
(Audited)
USD (Restated)
(Audited)
USD (Restated)
2,576,493,037
2,230,397,076
(1,104,101,733)
(888,467,843)
2,178,490,419
(795,914,325)
1,472,391,304
1,341,929,233
1,382,576,094
21,415,500
20,878,662
10,950,634
Distribution and Transmission
(269,894,769)
(280,226,926)
(246,495,197)
General and Administration
(136,982,346)
Other Income
(204,389,934)
(178,257,491)
Other Expenses
(1,038,741)
(6,166,815)
(1,835,320)
Operating Profit
1,018,483,360
898,156,663
1,008,213,865
129,824,667
(26,182,646)
(135,188,632)
Profit Before Tax
1,148,308,027
871,974,017
873,025,233
Tax Expense - Net
(233,051,777)
(170,073,498)
(177,185,009)
Profit For The Year
915,256,250
701,900,519
695,840,224
(757,566)
556,661
490,571
Other Income (Expense)
Total Other Comprehensive Income After Tax

914,498,684
702,457,180
696,330,795
Total Income Attributable to Owners of the Parent Entity
890,885,456
680,804,733
671,188,743
24,370,794
21,095,786
24,651,481
Total
915,256,250
701,900,519
695,840,224
Total Comprehensive Income Attributable to Owners of the

Parent Entity
889,696,452
681,357,195
671,678,944
24,802,232
21,099,985
24,651,851
Total Income Attributable to Non Controlling Interest
Total Comprehensive Income Attributable to Non Controlling

Interest
Total
914,498,684
702,457,180
696,330,795
1,188,711,261
1,078,295,431
1,183,188,921
Assets
3,908,162,319
3,400,177,005
3,540,157,399
Liability
1,553,370,341
1,520,819,736
1,889,141,971
Equity
2,354,791,978
1,879,357,269
1,651,015,428
139,599,881
102,483,665
167,035,191
1,511,068,613
1,232,909,912
1,093,416,524
65,952,471
45,000,454
21,490,854
Income (loss) Ratio to the Asset (%)
30.42
31.71
33.42
Income (loss) Ratio to the Equity (%)
60.86
56.80
68.50
Income (loss) Ratio to the Revenues (%)
34.58
30.52
30.81
419.63
550.22
343.59
Liability Ratio to Equity (%)
39.86
58.12
86.15
Liability Ratio to Asset (%)
24.02
32.12
40.18
Gross Profit Ratio (%)
57.15
60.17
63.46
Margin EBITDA (%)
46.14
48.35
54.31
0.16
55.09
38.91
28.72
EBITDA
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
Capital Expenditure
Net Working Capital
Investment on Other Entity
FINANCIAL RATIOS
Current Ratio (%)
Net payable/EBITDA (X)

EBITDA/Interest Expense(X)
EBITDA/(Interest Expense + Principal) (X)
11.55
2.43
9.60
ROCE (%)
31.19
30.02
32.51
Price Ratio to Net Income per Share (X)
13.11
12.63
18.01
5.32
4.96
7.98
Price to Book Value
Annual Report 2012
energy for life
31
56
60
33
31
30
.4
2
68
.7
1
.4
2
.8
6
41
.8
0
.5
0
9.
63
55
0.
22
34
3.
59
Kila
s Kinerja 2012
10
11
12
10
11
12
10
11
12
46
18
12
13
.1
.0
48
.1
54
.3
39
.3
6
.8
2
58
.1
(%)
(%)
86
.1
RETURN ON INVESTMENT
RETURN ON EQUITY
(%)
.6
CURRENT RATIO
10
11
12
10
11
12
10
11
12
DEBT TO EQUITY
RATIO
(%)
EBITDA MARGIN
PRICE EARNING RATIO
(%)
Stock Data
(%)
2012
USD (Audited)
2011
USD (Restated) (Audited)
2010
USD (Restated)
Weighted Average
24,241,508,196
24,241,508,196
24,239,658,196
Common Shares Outstanding (share)
24,241,508,196
24,241,508,196
24,241,508,196
0.04
0.03
0.03
Net Income (loss) per share
Annual Report 2012
energy for life
32
Operating Highlights
Operating
Highlights
pgns DISTRIBUTION AND TRANSMISSION Volume
(MMScfd)
2012
2011
2010
Distribution
807.16
795.28
824.35
Transmission
876.97
845.49
836.37
1,684.13
1,640.76
1,660.72
2012
2011
2010
Household
87,437
86,167
85,326
Commerce
1,674
1,641
1,592
Industry
1,253
1,245
1,216
90,364
89,053
88,134
Total
NUMBER OF CUSTOMERS
Total
LENGTH OF PIPELINE NETWORK
(Km)
2012
2011*
2010**
Distribution
3,865
3,836
3,785
Transmission
2,047
2,047
2,125
Total
5,912
5,883
5,910
* Based on SKPP (Worthiness of Equipment Operation Certificate) published by Dirjen

Migas in 2012, it was determined that the length of Transmission Pipeline of SBU
Transmission Sumatera-Jawa was 1,004 Km

** 32.2 Km of transmission pipeline was categorized to distribution pipeline

Therefore, total length of transmission pipeline was 2,047 Km and the total length of
distribution pipeline was 3,836 Km in 2011 and 3,865 Km in 2012.
Annual Report 2012
energy for life
33
Stock Highlights
s Kinerja 2012
Kila
Stock
Highlights
PGAS SHARE PRICE 2012

2012
4Q
3Q
2Q
1Q
24,241,508,196
24,241,508,196
24,241,508,196
24,241,508,196
111,510,937,701,600
99,996,221,308,500
85,451,316,390,900
92,117,731,144,800
Highest Price (Rp)
4,800
4,200
4,000
3,850
Lowest Price (Rp)
4,025
3,475
3,275
3,050
Closing Price(Rp)
4,600
4,125
3,525
3,800
46,307
46,967
57,826
39,080
Total Outstanding Shares

(Share)
Market Capitalization (Rp)
Trading Volume Averages (Lot)
PGAS SHARE PRICE 2011

2011
4Q
3Q
2Q
1Q
24,241,508,196
24,241,508,196
24,241,508,196
24,241,508,196
76,966,788,522,300
64,846,034,424,300
97,572,070,488,900
94,541,881,964,400
Highest Price (Rp)
3,250
4,125
4,250
4,500
Lowest Price (Rp)
2,400
2,025
3,775
3,475
Closing Price(Rp)
3,175
2,675
4,025
3,900
58,503
123,032
50,181
79,989
Total Outstanding Shares

(Share)
Market Capitalization (Rp)
Trading Volume Averages (Lot)
Annual Report 2012
energy for life
34
Comparison Between PGAS and JCI Return in 2012
Comparison between PGAS and JCI Return in 2012
60%
PGAS: 46%
50%
40%
30%
JCI: 13%
20%
10%
0%
-10%
2/30/2011 1/30/2012 2/29/2012
3/31/2012
4/30/2012
5/31/2012
6/30/2012
7/30/2012
8/31/2012 9/30/2012
10/31/2012 11/30/2012
In 2012, PGAS strengthened significantly. It opened at Rp3,150 and closed at Rp4,600 at the end
of 2012, giving a 46% return of investment to investors for the year. PGAS was at its peak on 7
November 2012 when it was traded at Rp4,800. As of 31 December 2012, PGAS was one of the
Top 8 Largest Market Capitalization amongst publuc listed companies in Indonesia Stock Exchange
and was one of the Top 4 Largest Market Capitalization of Rp 111.5 trillion amongst State-Owned
Enterprises.
Annual Report 2012
energy for life
Report to the
Shareholders
Report from the Board of Commissioners

Report from the Board of Directors
Annual Report 2012
energy for life
Annual Report 2012
energy for life
Report to the Shareholders
37
Lap
o
da
Pem ran Kepa
egang Saham
Report from the Board

of Commissioners
Dear Shareholders
The Company passed several important milestones in 2012, delivering
on all the key promises we made at the end of the previous year. We
began to deliver gas from Indonesias first LNG receiving terminal in
West Java; we commenced the development of LNG receiving terminal
in Lampiung, we successfully managed the introduction of a new price
that will improve the security of supply in the coming years; and we
made some very important investment decisions that will shape the
future of our upstream business.
Annual Report 2012
energy for life
...the Company
measured up against all
38
These achievements are tangible indicators of

the progress the Company has made towards its
transformation into a vertically integrated, beyond
pipeline gas company that is capable of responding
effectively to the nations long-term energy challenges.
This process, which began in 2011, has seen the
Company strengthen its core business of natural gas
distribution and transmission while developing a
portfolio of new businesses along the gas value chain.
key performance indicators

in 2012 tells us that the
management is on the right
track.
PGNs entry into the LNG business represents our first

venture beyond pipeline and an important step towards
addressing the issue of energy security in Indonesia.
Our first LNG FSRU facility in West Java, operated by
PT Nusantara Regas, our joint venture with Pertamina,
was commercialized July 2012 and is now supplying
gas to PLNs Muara Karang power plant. With work
on the second FSRU in Lampung well under way,
the Company has established a new subsidiary, PT
PGN LNG Indonesia, which will be responsible for
the operation of the new facility, as well as future
LNG ventures. The Lampung FSRU is scheduled for
completion in early 2015, and the Company has
already moved to secure LNG supplies by signing
master sale-purchase agreements (MSPA) with several
LNG suppliers.
Annual Report 2012
energy for life
One of the most significant challenges we faced

during the year was an increase in the purchase
price we have to pay for new supplies. At the
request of the then-upstream regulatory agency,
BP Migas (now SKK Migas), we renegotiated the
contracts with our major suppliers, ConocoPhillips
and Pertamina, arriving at a price that will not only
guarantee supplies according to the terms of the
contract but will also encourage further exploration.
To maintain a reasonable spread, we had to increase
the selling price to our customers. Inevitably, there
was some discontent, but the customers appreciated
managements transparent and open communication
throughout the process, and recognized that this
was a fair and necessary step that will benefit them
by ensuring greater certainty in future gas supplies.
Minister of Energy and Mineral Resources Letter
regarding integrated adjustment of gas price in the
upstream and downstream side has helped enforced
the application of new price to our customers.
One of the Companys strategic priorities in 2012
was to obtain access to new supplies of gas by
investing in upstream assets. As an integrated gas
company it is strategically important to ensure that
PGN is not only distributing and trading gas but
looking for sources. Our upstream subsidiary, PT
Saka Energi Indonesia (Saka), was established as the
Companys center of expertise on gas exploration and
production and has recruited extensively from the oil
and gas sector to bring in the breadth and depth of
professional competencies required to compete in
this business. Following a series of feasibility studies
and appraisals, Saka is now close to acquiring a
participating interest in an upstream project. The
Company is still on a learning curve at this end of the
value chain, however, and as we pursue opportunities
upstream, we will make it a priority to learn from
strategic partnerships and other markets.
39
Assessment of the Performance of the Board

of Directors
A look at how the Company measured up against all
our key performance indicators in 2012 tells us that
the management is on the right track. Amid some
serious challenges, including the change in pricing
policy, the economic downturn, and shifts in policy
on mining, energy and imports, the improvements in
the Companys performance during the year reflect
the quality of the Board of Directors. The fact that
the Company successfully maintained the goodwill of
the customers when passing on the price increases
is testament both to the managements skill in
communicating difficult decisions and to the bank of
trust that has been built up over the years.
We are, nevertheless, aware that there is scope for
improvement. The Board of Directors needs to continue
to improve human resource planning to ensure that
the capabilities of all our people, from management
to the front line, are fully aligned with the evolving
demands of the business. They need to assure our
customers, particularly those in the industry sector,
that we have both the ability and the policy support to
guarantee their gas supply. Perhaps most importantly,
the Board of Directors must continue to engage in
constructive dialog with all our stakeholdersincluding
the government, suppliers, investors and the public
to ensure that they all have clearer, more objective
information about the material issues of the gas
business, and our role in meeting the countrys energy
needs.
Annual Report 2012
energy for life
40
As oil prices continue to escalate, natural gas is set to

play an increasingly important role in the energy mix
in future, both in Indonesia and globally. But despite
Indonesias abundant reserves, policy constraints have
contributed to a significant unmet domestic demand
for gas which in turn represents a lost opportunity,
given the potential for gas, as a cheap energy source
for industry, to be a driver of economic growth.
The Companys score

in GCG application improved
by more than seven points
from 83.10 to to 90.72.
Recently, however, we have seen signs of a growing

awareness of the importance of energy security for
Indonesia, and a shift in the orientation of energy
resources towards domestic growth priorities. The
Government is working to achieve an equilibrium
between all the competing demands but it is essential
that PGN, along with other industry players, engages
consistently with decision makers to ensure that the
policymaking process is fully informed and takes into
account the long-term national interest, consumer
interests and the need for gas companies to operate
profitably so that they can continue to invest in the
nations gas infrastructure. Management has already
done a great deal to contribute to this dialog and
we believe that while we may still struggle to find
a balance in the short term, we will, over the long
term, see an increasingly business-friendly policy and
regulatory environment in the gas sector.
Annual Report 2012
energy for life
Good Corporate Governance

The Board of Commissioners is continuously
reviewing every aspect of the Companys governance,
and we are pleased to note that significant progress
has been made. On the GCG assessment, an annual
independent benchmarking exercise for all stateowned enterprises, the Companys score improved
by more than seven points to 90.72. Despite this
encouraging result, we recognize that much still
needs to be done as the Companys portfolios
and assets grow, particularly on managing the
increasingly complex risk profile. The introduction
of an automated risk management process and the
decentralization of risk management to each business
unit in 2012 will allow for greater control over risk
identification, assessment and mitigation as the
Company moves forward.
Committees under the Board of

Commissioners
As we have progressed with the transformation of
the business we have continued to work hard to
optimize the performance of the Board Committees.
The Audit Committee has continued to function well
in providing assurance and guidance on the integrity
of the Companys financial reporting and internal
controls. With the ongoing structural changes
within the organization, it has been more difficult to
establish a definitive role for the Risk Management
and Business Expansion Monitoring Committees. We
will continue to work with the management to review
and clarify the Committees functions so that they
can contribute fully to the governance process.
41
Our View on the Prospect of the Companys

Business
The extent of the global economic slowdown,
together with the changes in the structure of the
global energy market driven by abundant supplies of
shale gas, has introduced some uncertainty into the
global energy business, at least in the short term.
Over the long term, however, the prospects for the
energy business remain bright, particularly in our
region, where the situation is buoyed by the pace of
economic development and relatively high population
growth. Indonesia itself now ranks among the worlds
largest economies and significant further growth is
projected. The need to reduce our dependence on oil
is becoming clearer and there is a growing realization
that gas, as one of our most abundant natural
resources, is the way forward.
This augurs well for PGN. Having made major
capital investments in infrastructure over the years,
developed strong capabilities and established a
presence across the gas value chain, the Company
is in an excellent position to capture future growth
opportunities, both in the pipeline business and,
increasingly, beyond pipeline. We are confident that
strategic priorities set out by the Board of Directors
will maximize these opportunities and take the
Company further towards our goal of becoming a
world-class integrated gas company.
Annual Report 2012
energy for life
2
Lap
oran Kepada
42
Changes in the Composition of the Board of

Commissioners
On behalf of the Board Id like to express our
deep appreciation to my predecessor as President
Commissioner, Mr Tengku Nathan Machmud, who
retired from the Board in May 2012. Mr Machmud
played an instrumental role in turning this Company
around to become the forward-thinking, profitable
business it is today, and we would like to thank him for
his leadership and dedicated service. It is a privilege to
continue his role as the President Commissioner of the
Company. Joining us as new members of the Board are
Mr M. Zamkhani and Mr Bambang Dwijanto, whose
appointment as Commissioners was approved by the
Annual General Meeting of Shareholders on May 22,
2012.
Appreciation to Our Stakeholders

As we enter 2013, the Company is in good shape.
We are financially sound; we are delivering consistent
growth; and we have a stronger, more modern
structure that is enabling us to capture more
opportunities up and down the gas value chain.
I would like to express my thanks to the Board
of Directors and all the employees for working
together to maintain the momentum of our business
transformation and putting us in a strong position to
face the challenges ahead. We also greatly appreciate
the cooperation and trust shown by our shareholders,
customers and partners during the year. We remain
committed to creating value and delivering excellence
over the coming year.
Bayu Krisnamurthi
President Commissioner
Annual Report 2012
energy for life
43
Report from the Board

of Directors
Dear Shareholders
2012 was a year for us to deliver on our promises. We proved that we
have the capability to address domestic supply concerns by delivering
our first volumes of LNG and sourcing additional supplies in East Java.
We successfully managed the introduction of a new pricing that will
balance interests of suppliers, the Company and customers; and we
progressed the transformation of our business model by expanding and
diversifying our business all along the natural gas value chain.
Annual Report 2012
energy for life
44
Our Performance in 2012
We delivered strong
revenue growth of 15.52%
Our strategy towards customers has shown fruitful

results. As a utility company and energy provider,
PGN has addressed customers expectation by
strengthenning supply security to meet demand and
providing excellent service while building a shared
understanding with customers on the neccessity of
price review to get greater certainty in gas supply.
and higher profits by 30.86%

compared to that of 2011.
Despite a slight impact on sales in the year by

maintenance work in certain upstream fields, we
delivered strong revenue growth of 15.52% and higher
profits by 30.86% compare to that of 2011. Our
performance in 2012 was supported by higher income
from the distribution and transmission business. Our
sales volumes increased to 807.16 MMScfd, driven
by the price adjustment that enabled our suppliers
to allocate more volume to us, as well as additional
supplies coming on stream from East Java.
Transmission volumes showed significant growth
in 2012. Volume delivered through PGNs and its
subsidiarys transmission pipelines increased by 3.7% to
876.97 MMScfd particularly after the transportation of
gas to fuel PLNs power plant in Muara Tawar through
PGNs SSWJ transmission pipeline in accordance with
an agreement to swap gas from Jambi Merang field to
Grissik field.
Annual Report 2012
energy for life
45
Our results also reflect the conversion of our financial

statements to US dollars in line with the adoption
of new financial reporting regulations in 2012,
which implemented International Financial Reporting
Standard (IFRS).
Overall, our financial and operational performance in
2012 confirms the strength of our business model and
the Companys growing capabilities all along the gas
value chain.
Company greater scope to operate in this business,

we established a new subsidiary, PT PGN LNG
Indonesia, to take charge of the construction and
operation of this and future LNG projects.
To secure LNG supplies for the Lampung FSRU, we
have signed Master Sale and Purchase Agreements
(MSPA) with LNG suppliers. While we will prioritize
domestic supplies of LNG where available, we have
taken the option of identifying alternative sources
to safeguard continuity of supply over the short and
medium term.
Strategic Policy
1. Accelerating midstream development
In July 2012 we delivered our first volumes from
the LNG floating storage and regasification unit
(FSRU) terminal in West Java. Operated by our
affiliated company, Nusantara Regas, the facility is
supplying gas to PLNs Muara Karang power plant.
This marks a very significant milestone for the gas
industry in Indonesia as domestic customers have
never previously had access to LNG produced in
Indonesia. PGNs initiative to develop LNG storage
and regasification facilities is a major step towards
addressing the issue of energy security in Indonesia.
Following the decision of the Ministry of Energy
and Mineral Resources to optimize Pertaminas LNG
liquifaction asset in Aceh, the Company relocated
the development of our second LNG FSRU terminal
from Belawan in North Sumatera to Lampung, at
the southern tip of Sumatra, where the new facility
will interface with our South Sumatra-West Java
transmission pipeline. The EPC contract with Hoegh
was successfully restated in October 2012 and work
is in progress at the new location, while the allnew FSRU vessel is under construction. To give the
Along with the shift in the orientation of energy

policy to curb the countrys LNG exports, on 6
February 2013, the Government allocated LNG
supplies over 2013-2025 from domestic fields for
FSRU in the country. PT Nusantara Regas FSRU, our
joint venture with Pertamina, is expected to have
supply allocation from Tangguh field.

In 2012, we continued to expand and modernize our
distribution networks in western Java, eastern Java
and northern Sumatra as well as our South SumatraWest Java transmission network. New pipelines are
being constructed to accommodate the Lampung
FSRU. A key improvement project during the year
was the construction of an extra high pressure
distribution system in West Java, which will serve as
the main backbone connecting our networks across
the province. Future expansion plans in West Java
will focus on the Sukabumi area, the Cilegon to
Serpong corridor and the Karawang corridor. With
increasing supplies of gas becoming available in
East Java and surging demand in West Java, we are
also investigating the feasibility of connecting the
eastern and western pipeline systems in Java via a
jumper line.
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46
We have continued to assess beyond pipeline

transport and distribution technologies that can
support our business expansion strategies. In
particular, we have been assessing the effectiveness
and efficiency of various delivery modes over certain
distances, and evaluating viable locations for the
deployment of mini LNG and compressed natural
gas (CNG) to reach off-pipeline customers.
Advances in information technology will increasingly
shape the way we do business going forward. This
year we developed our first IT Strategic Plan (ITSP)
for 2012 to 2016 as a roadmap for expanding the
use of IT applications to support business processes
and decision making. During this initial phase,
we are evaluating the effectiveness of our current
deployment of enterprise resource management
modules in finance, logistics and human resources.
2. Upstream: minority participation

We continued to pursue our upstream initiatives
through PT Saka Energi Indonesia (Saka). Saka
has conducted due diligence on several potential
assets, and we expect to take a minority stake in
an upstream block in 2013. Saka has continued to
assemble the expertise needed to exercise our longterm strategy of becoming a viable player in gas
exploration and exploitation.
Our long-term strategy at the production end
of the gas supply chain also involves developing
unconventional sources wherever we see potential
value.
3. Expanding downstream
PT Gagas Energi Indonesia (Gagas) continued to
pursue our downstream diversification agenda.
Gagas booked a profit in its first full year of
operation in 2012, having successfully secured new
gas supplies in East Java. As a rapidly industrializing
province, East Java has considerable potential
as a market for natural gas, and we will explore
opportunities to grow our customer base there
in 2013. Gagas also began selling small volumes
of excess gas from the Jakarta Bay LNG facility to
industry customers in West Java, primarily to test the
market before larger volumes come on stream from
the Lampung FSRU in 2015. At present there is a
significant disparity between conventional and LNG
gas prices, and we are working to find convenient
pricing solutions that will benefit both customers
and the business.
Gagas continued to explore other potential revenue
streams, including CNG and the power plant
business.
4. Our People
PGNs people have consistently been in the vanguard
of developing Indonesias gas industry since the
1990s. Their capabilities in the pipeline business are
unmatched by any other operator in the country. As
we move beyond pipeline, however, we have had to
strengthen our human resource planning, capacity
development and recruitment policies to ensure we
have the caliber of people we need to pursue our
growth objectives.
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47
To become a world-class company, we need

world-class people who are familiar with global
thinking and practice. In support of this goal,
several employees each year take 6-to-12-month
placements in overseas companies: at the end
of 2012, for example, 44 PGN employees were
gaining valuable experience in Osaka Gas and
Tokyo Gas. In addition, under our newly launched
scholarship program, six employees will begin
Masters programs at prestigious US universities in
2013.
In 2012 we introduced a more structured
succession planning process. Internally, talented
people are identified through a STAR (Succession
and Talent to Assure Regeneration) program
before embarking on a multi-year development
program to ensure exposure to the knowledge and
experience they will need as the next generation
of leaders. A parallel process of professional
recruitment at senior levels ensures that we have
the right mix of home-grown and external
experience and competencies to take the Company
forward.
Achievement of 2012 Target

In 2012, PGN delivered distribution volume of 807.16
MMScfd from 795.28 MMScfd in 2011. The sales
volume in 2012 was 98.23% of our target in 2012
which was also effected by the delay of gas supply
delivery. PGNs Management has always attempted
to meet the Companys target. This was reflected in
the iniatives to use optimum operational expenses to
maintain financial performance.
Going forward, PGNs Management will take more
initiatives to gain optimum results in revenues,
expenses and profit by increasing sales volume to
customers, increasing efficiency in order to reduce
expenses.
Challenges in 2012
As a natural gas distributor, our priority is to ensure
security of supply. In recent years it has been
increasingly difficult for suppliers to deliver the
contracted volumes, which in turn compromises
our ability to meet our customers needs. One of
the contributing factors is the natural decline in the
productive capacity of some of the older gas fields,
which necessitates costly advanced gas recovery
processes. A number of suppliers were therefore
finding it uneconomical to supply gas to us at the
agreed prices, particularly as they also have to bear
the cost of exploration. At the instigation of BP
Migas, the then-upstream regulatory agency (now
SKK Migas), we agreed on a revised purchase price
for supplies from upstream supplers.
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To protect our profit margin, we have had to pass on

the higher price to customers. We believe that the new
pricing scheme is fair and serves the interests of all
parties: it will enable existing suppliers to guarantee
deliverable volumes and increase their allocations to
us in future; it will encourage other suppliers to sell
to PGN; and it will stimulate exploration upstream.
For our customers, there will be greater certainty and
continuity of supply.
We continued
to ensure GCG principles
were applied in operational
activities and this has
received recognition from
independent assessment on
GCG aplications.
In accordance with the Minister of Energy and

Mineral Resources Letter No. 4751/12/MEM.M/2012
dated 5 July 2012 regarding PGNs Gas Selling Price
Adjustment, the Company had adjusted its selling price
to customers effective September 2012. Prior to the
application of the new price, we engaged frequently
and intensively with our customers to explain the need
for the new pricing and provide assurances over future
supplies. Even at the adjusted rates, natural gas retains
a considerable price advantage over all other fossil
fuels; moreover, our product is not subject to the same
price volatility as diesel and other oil-based fuels. Our
sales performance in 2012, as well as the continued
high demand for natural gas, suggest that customers
have been able to absorb the price increase and that
natural gas will remain their fuel of choice.
Outlook for 2013

Going forward, there are several reasons to be
optimistic about the prospects for the gas business.
Firstly, while the ongoing economic crisis in the US and
Europe will likely put pressure on Indonesias export
performance as the commodity market weakens, the
economy is expected to show continued growth on
the back of strong domestic demand and investment.
Secondly, natural gas is still very competitively priced
compared to other fuels. Another key factor in our
favour is the very low penetration of natural gas in
Indonesia, which promises enormous potential for
growth.
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However, a number of potential challenges are

emerging. We may face competition in the LNG
business as other countries in the region move to build
their LNG capability, while new findings of cheap shale
gas in the US will have an impact on global energy
prices.
risk and compliance (GRC) module to automate the

entire risk management process. These improvements
will result in better defined risks and controls at each
level and enable a more accurate overview of the
Companys risk profile at any given time.
Strengthening Safety Practices

In the coming year we will continue to invest in
strategic upstream opportunities while growing
our midstream and downstream businesses. At the
same time we will strengthen our engagement with
stakeholders to leverage the role of natural gas in
meeting the countrys energy objectives.
Good Corporate Governance and Risk

Management
Strengthening corporate governance remains one
of the top priorities for the Company, and we have
continued to ensure that governance practices are
embedded in every aspect of our operations. We
received welcome external assurance of our progress
through our annual independent GCG assessment,
managing to improve our score for the second
consecutive year. Moreover, for the second time in
three years, PGN was the overall winner in the Annual
Report Awards sponsored by Indonesias financial
regulatory authorities, and came top in several
categories at the LACPs 2011 Vision Awards, winning
the Platinum Award for the best report in the gas
utilities sector worldwideachievements that reflect
our commitment to transparent communication with
our shareholders, customers and other stakeholders.
We have continued to make our risk management
processes more responsive to the increasingly complex
risks we are exposed to. In 2012 we decentralized the
risk management processes, setting up risk registers for
each business unit, and deployed Oracles governance
During the year we worked consistently to review and

improve our safety standards and procedures. In line
with our Safety Excellence Road Map, we focused on
reinforcing safety processes and behaviors through
regular training, communication, practice and rewards
structures, and have ensured that each employee has a
personal safety action plan. As of the end of December
2012, we had recorded 33 million safety working hours
(zero incidents) and we are determined to maintain this
clean record in the coming year. We have continued to
strengthen compliance with international and domestic
safety standards both as a routine aspect of our
commitment to safety excellence, and in preparation
for our target of obtaining OHSAS 18001:2007 and
SMK3 certification for our occupational health and
safety management system in 2013.
Sustainability through CSR and Partnership

As an investment in the long-term sustainability
of our Company, stakeholder engagement is a
fundamental element of our business model. Through
our CSR program, we work with stakeholders to build
partnerships, empower communities and improve
livelihoods through initiatives that focus on education,
health and small and medium enterprise (SME)
development. One of the recent highlights of the SME
program has been our work with local artisans to
revitalize traditional art and craft industries and turn
them into profitable, sustainable enterprises. In 2012
we launched Kampung Tenun Garut, connecting a
community of traditional weavers in this small West
Annual Report 2012
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Java town with modern textile technologies and

expertise, renowned designers, enterprise advice and
domestic and international markets. The village is now
producing high-quality tenun cloth that is in demand
both in Indonesia and overseas. Such initiatives not
only drive local economic development, but also help
to preserve and sustain Indonesias artistic heritage for
future generations.
We have continued to take measures to reduce our
environmental footprint. In 2012 we launched the
carbon calculator initiative, which will help to ensure
more accurate measurement of greenhouse emissions
in all our operational facilities and offices and enable
us to develop more energy-efficient solutions.
50
Changes in the Composition of the Board of

Directors
The Annual General Meeting of Shareholders on May
22, 2012 approved some changes in the composition
of the Board of Directors. We were pleased to welcome
Mr Hendi Kusnadi and Mr Djoko Saputro, who took
up appointments as Director of General Affairs and
Human Resources and Director of Technology and
Development, respectively. Mr Eko Soesamto Tjiptadi
resigned from the Board, and we would like to thank
him for his contribution to the Company.
Appreciation to Our Stakeholders

The strategic investments and operational
improvements we have made over the year leave us in
a very favorable position from which to drive long-term
growth. I would like to thank all our employees, who
have made an immense contribution to strengthening
our capabilities across the energy value chain this year.
Our thanks are also due to our customers and business
partners, who have shown great cooperation and
support during a challenging year. We look forward to
serving you well in the year ahead.
Hendi Prio Santoso

President Director
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53
Pursuant to Government Regulation No. 19.1965, PGN become a legal entity having the right to execute its
business independently with the scope of business covering gas provider for power and industry primarily to
improve the quality of the public life.
Name of the company
line of business
Transmission and distribution of natural gas

3
ownership
Goverment of Indonesia 56.97%

Public 43.03%
date of establishment
13 May 1965
legal basis
PP No.19/1965
authorized capital
Rp7,000,000,000,000
issued and fully paid capital
Rp2,424,150,819,600
stock exchange registration
The Companys shares were registered on Jakarta Stock

Exchange and Surabaya Stock Exchange on
15 December 2003 with Shares Code: PGAS
Contact Center
0-800-1-500 645

0-800-1-500 645
(62-21) 633 3000
contact.center@pgn.co.id
www.pgn.co.id
Jl. K.H. Zainul Arifin No. 20, Jakarta 11140, Indonesia
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Companys Profile
54
SBU, Subsidiaries and Affiliates
SBU, Subsidiaries
and Affiliates
SBU III
SBU
Transmission
Sumatera Jawa
SBU II
SBU I
PT Saka Energi
Indonesia
100%
PT Gagas Energi
PT PGN LNG
Indonesia
100%
100%
PT PGAS Solution
PT Transportasi
Gas Indonesia
100%
60%
PT PGAS
Telekomunikasi
Nusantara
100%
Strategic Business Unit (SBU)
PT Nusantara
Regas
40%
Percentage of Share Ownership
Subsidiaries
PGN has three sales areas in the distribution business (SBU I, II and III) and one area in the transmission business
(SBU Transmission Sumatera-Java) as well as seven subsidiaries in several businesses.
Annual Report 2012
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55
Head Office of PGN at Jl. K.H. Zainul Arifin No. 20 Jakarta, Indonesia
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56
Addresses of Head Office, SBU,

Subsidiaries and Affiliates

Head Office
Jl. K.H. Zainul Arifin No. 20
Jakarta 11140, Indonesia
T. (62-21) 633 4838
(62-21) 633 4848
(62-21) 633 4861
F. (62-21) 633 3080
PO BOX 1119 JKT
www.pgn.co.id
Contact Center
0800 1500 645
(62-21) 633 3000
contact.center@pgn.co.id
www.pgn.co.id
PO BOX 1119 JKT
SBU Distribution Area I

Jl. M.I. Ridwan Rais No.8
T. (62-21) 345 2147
(62-21) 350 2127
(62-21) 351 3453
(62-21) 351 3455
F. (62-21) 381 1891
(62-21) 351 3458
Sales and Service

Area Jakarta
Jl. Anyer No. 11 Menteng
T. (62-21) 392 4910
F. (62-21) 315 0361
(62-21) 392 4909
Sales and Service

Area Bogor
SBU Distribution Area II
Jl. MA Salmun No 41
Bogor 16114, Indonesia
T. (62-251) 832 2018
(62-251) 831 4506
(62-251) 831 6600
F. (62-251) 8320 168
Sales and Service

Area Banten
Jl. Pahlawan Seribu
Kavling Komersil Blok AH No. 2
Sektor IIB BSD
Tangerang, Indonesia
T. (62-21) 5380035
F. (62-21) 5384414
Sales and Service

Area Bekasi Karawang
Jl. Ahmad Yani No.54
Karawang, 41315, Indonesia
T. (62-267) 845 4081
(62-267) 845 4086
F. (62-267) 845 4085
Sales and Service

Area Cirebon
Jl. Veteran No.2
Cirebon 45124, Indonesia
T. (62-231) 203 323
(62-231) 204 486
F. (62-231) 205 046
Jl. Pemuda No. 56-58

Surabaya 60271, Indonesia
T. (62-31) 5490 555 (hunting)
F. (62-31) 5490 333
Sales and Service

AreaSurabaya
Jl. Pemuda No. 5658
Surabaya 60271, Indonesia
T. (62-31) 5490 555 (hunting)
F. (62-31) 5453 608
Sales and Service

Area Sidoarjo - Mojokerto
Jl. Jaksa Agung Suprapto No. 17
Sidoarjo 61218, Indonesia
T. (62-343) 8050 999
F. (62-343) 8956 782
Sales and Service

Area Pasuruan - Probolinggo
Jl. Raya Rembang Industri Raya
Kompleks PIER
Rembang Pasuruan, Indonesia
T. (62-343) 744 440
F. (62-343) 728 293
SBU Distribution Area III

Jl. Imam Bonjol No. 15
Medan 20112, Indonesia
T. (62-61) 453 8655
F. (62-61) 415 2396
Sales and Service

Area Palembang
Jl. Merdeka No.10 B Bukit Kecil
Palembang 30135, Indonesia
T. (62-711) 357 527
F. (62-711) 357 607
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57

Sales and Service

Area Medan
PT Transportasi Gas
Indonesia
Jl. K.L.Yos Sudarso Lorong XII

No. 18, Glugur Kota
Medan 20112, Indonesia
T. (62-61) 661 2155
F. (62-61) 661 6649
Jl. Kebon Sirih Raya No. 1

T. (62-21) 315 8929
(62-21) 315 8939
F. (62-21) 310 3757
(62-21) 310 3545
Sales and Service

Area Batam
Gedung Batam Centre
Jl. Engku Putri Batam Centre
Batam Indonesia
T. (62-778) 467 299
F. (62-778) 467 399
Sales and Service

Area Pekanbaru
Komplek Sudirman City Square
Blok C No. 12
Jl. Jend Sudirman
Pekanbaru 28282, Indonesia
T. (62-761) 839 822
(62-761) 789 1533
F. (62-761) 789 1812
SBU Transmission
Sumatera Java
Gedung Graha PGAS Lantai 10-11
T. (62-21) 6386 6667
(62-21) 6386 6669
F. (62-21) 6386 6770
(62-21) 6386 6760
PT PGAS Telekomunikasi
Nusantara
Wisma 77 Lt. 19
Jl. S. Parman Kav. 77
Jakarta Barat, Indonesia
T. (62-21) 5366 0444
(62-21) 5366 0445
F. (62-21) 5367 0080
PT PGAS Solution
Gedung C, Lt. 4
T. (62-21) 6385 4557
(62-21) 6385 4572
(62-21) 6385 4506
F. (62-21) 6385 4534
PT Gagas Energi Indonesia

Equity Tower Lt.16 Suite SGH
Jl. Jend Sudirman Kav 52-53 SCBD
T. (62-21) 2903 5835
F. (62-21) 2903 5838
PT Nusantara Regas
Wisma Nusantara Lt. 19
Jl. M.H. Thamrin No. 59
T. (62-21) 315 9543
(62-21) 315 9544
F. (62-21) 315 9525
PT PGN LNG Indonesia

(PGN LNG)
T. (62-21) 290 37505
(62-21) 290 37606
F. (62-21) 290 37444
PT Saka Energi Indonesia

T. (62-21) 2903 5727
F. (62-21) 2903 5722
Annual Report 2012
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58
Brief History
Brief
History
1859
1965
On 13 May 1965, pursuant to Government
Regulation No. 19/1965 the Company was
designated a state company known as
Perusahaan Gas Negara (PGN).
The subsequent issuance of Government
Regulation No. 2 year 1984 changed the
Companys legal status from State Company
(PN) to Public Corporation (Perum).
PT Perusahaan Gas Negara (Persero) Tbk, more

usually referred to as PGN, or by its stock code
at the Indonesia Stock Exchange of PGAS,
is a state-owned company that has been
leading the way in Indonesias gas industry
since 1859, when it went by the name of Firma
L.I. Enthoven & Co.
2007
On 11 March 2007, the Company succesfully
conducted a Gas-In (first gas chanelling),
which was followed by the commercialization of
gas from Pertaminas Pagardewa gas
field through the South Sumatera-West Java
pipeline to the Companys cusomer in
Cilegon (PT Krakatau Daya Listrik).
2008
2009
Pursuant to the provisions of Law No. 40

year 2007 regarding Limited Liability
Companies, and in connection with a stock
split, the Companys Articles of Association
underwent their most recent amendment
by Deed No. 50 dated 13 June 2008 jo.
Deed No. 8 dated 2 Jully 2008.
To optimize the Companys accumulated

strengths and competencies by taking
advantage of oppurtunities to develop
the business and realize PGNs vision, the
Company established another subsidiary,
PT PGAS Solution.
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Companys Profile
59
Brief History
1994
Companys change of status was accompanied by a
broadening of the scope of its business to
incorporate not just natural gas distribution but
transmission as well, for which PGN functioned
as a transporter.
3
PGAS
2003
1998
The Companys shares were

listed on the Jakarta
Stock Exchange and the
Surabaya Stock Exchange
on 15 December 2003, with the
stock code PGAS.
In 1998 PGN successfully finished

Transmission Pipeline Grissik
- Dorsal followed by the establishment
of a subsidiary in the transmission line,
PT Transportasi Gas Indonesia.
2011
2012
In 2011 PGN established two subsidiaries that

each engaged in the upstream and downstream
natural gas business. The subsidiary in the upstream
is PT Saka Energy Indonesia (SAKA) while the
subsidiary in the downstream is PT Gagas Energi
Indonesia (GAGAS). PGNs Ownership in both
subsidiary is 99% with 1% ownership by
PT PGAS Solution.
PGN established subsidiaries

PT PGN LNG Indonesia (PGN LNG).
The scope of PGN LNG business includes
procuring LNG supply, LNG and natural
gas transportation activity,
inventory activities includes
regasification to the buyer, as well as
performing other business activities.
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Line of Business
Line of
Business
LINE OF BUSINESS
Product or Services Produced
PGNs line of business is as set forth in the Articles

of Association stipulated on 6 April 2011.
Pursuant to Oil and Gas Law No.22 year 2001 which

separates upstream and downstream oil and gas
business, PGN has concentrated its business in the
downstream business, connecting gas producers
(suppliers) to gas customers.
1. Planning, construction and development of

downstream natural gas businesses, including
processing, transportation, storage and trading.
2. Planning, construction and development of
production, supply, transmission and distribution
of manufactured gas (hydrocarbon gas).
3. In addition to these core business activities, the
Company may engage in other ancillary business
that is directly related to and/or supports the
core business, pursuant to the laws and
regulations in effect.
To achieve its target from the management of gas,

PGN has divided its business area into three main
business segments:
1. Transmission/Transportation
2. Distribution/Trading
3. Other business segments
Our operational staffs work 24 hours to inspect Hydraulic Control Value at

Muara Bekasi Station facility to make sure the reliability of gas flow through
the pipeline network
Photo by:
Ryan Vebrian, Operation and maintenance Department Area III SBU TSJ
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Companys Profile
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Business Model
Business
Business
Model
Structure
GTA
Gas Transportation
Agreement
Transporter
Off-Taker*
PGN & Transgasindo serve as

gas transporters through
transmission pipeline by
charging toll fee, Transfered
gas belongs to third party.
Distributor
PGN, as a integrater,
purchases gas from various
gas suppliers and
distributes to costumers
through PGN distribution
pipeline.
Supplier
Gas produsers
Industry, Commercial
& Households
Customers
Station
Compressor
GSA
Gas Sales Agreement
GTA
Gas Transportation Agreement
between PGN/Transgasindo as
gas transporter and suppliers in
transferring gas to suppliers from
off taker point.
GSA
Gas Sales Agreement
Sales Agreement between PGN

as gas distributor and costumers.
PGN has two business models:

transmission and distribution business.
80% of PGN revenue is generated from
distribution and 20% from transmission
Annual Report 2012
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Companys Profile
PGNs Source of Gas,

Pipeline Network and Facilities
62
PGNs Gas Sources, Pipeline

Network and Facilities
Medco E&P Indonesia
South & Central Sumatera PSC
27.86 BSCF
Pertiwi Nusantara Resources
(gas ex-Salamander Energy)
12.86 BSCF
Medco E&P Lematang

Lematang PSC
53.26 BSCF
Inti Daya Latu Prima

(gas ex-Jambi Merang)
12.06 BSCF
Pertamina
EPField P.Susu
48.91 BSCF
Medan
SBU
area III
Singapore
SU
M
Duri
SBU
area III
A
TE
427 MMScfd
Transmission Pipeline
Grissik - Duri
Pagardewa
Station
ConocoPhillips
Corridor PSC
2,488.75 BSCF
Panaran
Station,
Batam
Grissik
Station
Pertamina EP
Sumatera Region
1,006.05 BSCF
SBU
area I
970 MMScfd
Transmission Pipeline
South Sumatera - West Java
Labuhan
Maringgai
Station
PGN-Owned High Presure pipelines

and infrastructure
Natural Gas Sources owned by
others
Station
Strategic Busines Unit (SBU)
territory
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Companys Profile
Gresik Migas
(gas ex-PHE WMO)
8.76 BSCF
Pertamina TAC Ellipse

Jatirarangon PSC
40.15 BSCF
Pertamina EP
Java Region
376.06 BSCF
PGNs Source of Gas,

Pipeline Network and Facilities
63
PHE WMO
West Madura
Offshore PSC
55.43 BSCF
Santos
Madura Offshore PSC
242.90 BSCF
Lapindo Brantas
Brantas PSC1
113.15 BSCF
Husky CNOOC
Madura Strait PSC1
146.00 BSCF
BBG & WNE, IKD SNR
(gas ex-TSB)
17.11 BSCF
KALIMANTAN
S ULAWE S I
Muara Bekasi
Station
SBU
area I
JAVA
Bojonegara
Station
SBU
area II
SBU
area II
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Gas for the Nation
Gas for
the Nation
LNG
Transportation
Kapal
PengangkutVessel
LNG
Stasiun Kompresor
Compressor
Station
Power
Pembangkit
PlantsListrik
Gas
Sumber
Source
Gas
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Companys Profile
65
Gas for the Nation
Industrial Customers
Pelanggan
Industri
Pelanggan
CommercialKomersial
Customers
Pelanggan
Household Rumah
Customers
Tangga
Annual Report 2012
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Companys Profile
Organization
Structure
66
Organization Structure
President
Direktorat Director
Utama
HENDI PRIO SANTOSO
Director of
Direktorat
Technology
and
Teknologi dan
Pengembangan
Development
Director
of
Direktorat
Commercial
and
Pengusahaan
Operations
Direktorat
Director of
Keuangan
DJOKO SAPUTRO
JOBI TRIANANDA H.
M. RIZA PAHLEVI
Satuan
Internal
Audit
Pengawasan Intern
Divisi
Riset and
dan
Research
Pengembangan
Technology
Teknologi
Development
Division
Divisi of
Marketing
Pemasaran
Divisi of
Division
Anggaran
Budgeting
Pjs.BAMBANG
BAMBANGWAHYU
WAHYU
RIYADI
R. ARMAN
WIDHYMARMANTO
HARI PRATOYO
NOOR DIANA P.
Division
of
Divisi
Enjiniring
Engineering
Division
of
Divisi
Penjualan
Corporate
Sales
Korporat
Divisi of
Division
Perbendaharaan
Treasury
YOSVIANDRI
SUBANENDRA
SITTI NURHAFNI
Divisi of
Division
Pembangunan
Development
Divisi
Pasokan
Division
ofGas
Gas Supply
Divisi of
Division
Akuntansi
Accounting
DANIEL
HAMONANGAN H.
MELANTON GANAP
TOTO PURNOMO
Division
of
Divisi
Teknologi
Information
Informasi
dan
Technology
and
Komunikasi
Divisi Operasi
Division of
Operation
Divisi
Keuangan
Division
of
Perusahaan
Corporate
DJOKO SURIPTO
DJOKO SURIPTO
UJI SUBROTO
SANTOSO
WIBISONO
Division
of
Divisi
K3PL
OSH & EM
Divisi
TanggungSocial
Jawab
Corporate
BUSRANI
ENIK INDRIASTUTI
Corporate Legal
Bureau
RACHMAT HUTAMA
Finance
Finance
Communication
Division of
SosialResponsibility
dan Lingkungan
CORPORATE
KORPORAT
OPERATIONAL
UNIT/
UNIT
OPERASIONAL
/
PROJECT
PROYEK
PROYEK
PROJECT
SBU
Annual Report 2012
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Companys Profile
67
Organization Structure
Director
of
Direktorat
General
SDM
danAffairs
Umum
Director
of
Direktorat
Investment Planning
Perencanaan
Investasi
and
Risk Management
dan Manajemen
Risiko
HENDI KUSNADI
M. WAHID SUTOPO
Divisi
Organisasi
Division
of
Organizational
dan
Proses Bisnis
of
DivisiDivision
Perencanaan
Strategic
Planning
Strategis
Corporate
Sekretaris
Perusahaan
Secretary
HARIMANTO
HERI YUSUP
and Human
Resources
Development
SURJADI
Division
Divisi
SumberofDaya
Manusia
Human
Resources
Division of Business
Corporate
Departemen
Communication
Komunikasi
Korporat
Departement
BASKARA A.
WIBAWA
SRI BUDI
MAYANINGSIH
RIDHA ABABIL
Division
of
Divisi
Logistik
Divisi
Transformasi
Transformation
dan
andPengendalian
Performance
Kinerja
Control
Departemen
Government
Hubungan
Relations
Departement
Kelembagaan
WILLY ROSWALDI
SANTIAJI GUNAWAN
Divisi Pengembangan
Development
and
Bisnis
dan Pengendalian
Portfolio
Management
Portofolio
Division of
Logistics
ISMET S.A. PANE
Divisi Division
Layanan of
Umum
General
Affairs
dan
Pengamanan
and
Security
Perusahaan
WAHYU IRIANTO
Division
Divisi of
Risk
Management
Manajemen
Risiko
IRAWATI
Departemen
Investor
Relations
Hubungan
Investor
Departement
NUSANTARA
SUYONO
Divisi of
Division
Manajemen
Aset
Asset
Management
ROSICHIN
31 December 2012
Annual Report 2012
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Companys Profile
68
Vision and Mission
Vision
To be a world class energy
company in natural gas
utilization
PGNs Vision is stipulated based on the Decree of the Board of PT Perusahaan Gas Negara (Persero) Tbk
No: 015700.K/HM.03/UT/2011 issued on 20 September 2011
Annual Report 2012
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Companys Profile
69
Vision and Mission
Mission
To enhance the value of the organization for stakeholders:
Strengthening the core business in natural gas
transportation and trading
Developing a gas manufacturing business
Developing an operational, maintenance and engineering
business associated with oil and gas industries
Profiting from the Companys resources and assests
by developing other business
Annual Report 2012
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Companys Profile
70
Profiles of the Board of Commissioners
Profiles of the Board of

Commissioners
bayu kRISNAMURTHI
kiagus AHMAD badaruddin

Commissioner
pudja sunasa
Independent Commissioner
An Indonesian citizen, born in

Manado on 18 October 1964.
He has served as President
Commissioner since his
appointment on 22 May 2012.
Education history, he holds
Bachelor of Agribusiness IPB:
Doctorate in Agricultural Economics
IPB. His last work experience was as
Deputy Secretary of Commerce.
An Indonesian citizen, born in Palembang

on 29 March 1957. He was appointed as
a Commissioner of the Company on 31
May 2007. He was the Chairman of the
Nomination Committee from 5 July 2007
up to 19 June 2008 and has chaired the
Remuneration and Nomination Committee
from 20 June 2008 until 18 April 2011 and
was chairman of the GCG committee since
19 April 2011. He holds a Master of Science
in Economics from the University of Illinois,
USA (1991), and graduated from Sriwijaya
State University, Palembang, with a degree
in Economics in 1986. He has been a career
official at the Department of Finance since
1977, serving various head positions, among
others: The Head of Planning and Finance
Bureau at the Anti Corruption Commission
in 2004, Director of Treasury System from
2006 to June 2008, Director of Budget
Implementation from June 2008 up to June
2009 and Secretary of Directorate General
of Treasury since June 2009. He was on the
expert staff of the Minister of Finance from
January 2011 until January 2012, and was
the General Secretary of the Ministry of
Finance from January 2012 until now.

Cirebon on 11 February 1952.
He was reappointed as a
Commissioner of the Company on
6 April 2011 and as Chair of the
Remuneration and Nomination
Committee, member of the Insurance
and Business Risk Committee and
member of the GCG Committee on
19 April 2011. He was graduated from
Institute of Technology Bandung with
a degree in Petroleum Engineering
in 1980. He was previously the
Commissioner of the Company from
2002 to 2008. His career began
as Head of General Bureau at the
Ministry of Energy and Mineral
Resources from 2001 to 2004 and
Inspector I at the Ministry of Energy
and Mineral Resources from 2004
to 2007. He has been the Inspector
General of Energy and Mineral
Resources since 2007 until 2012.
The legal basis of his first

appointment as the President
Commissioner is the resolution of
AGMS 2012 held on 22 May 2012.
He has no affiliated relation with
the members of the Board of
Directors and other members of
the Board of Commissioners, or
shareholders.
The legal basis of his first appointment as

PGNs commissioner is the resolution of
He was reappointed as Commissioner
by AGMS 2012 held on 22 May 2012.
The legal basis of his first appointment

as PGNs commissioner is the
resolution of EGMS 2011 held on
6 April 2011.
He has no affiliated relation with the
members of the Board of Directors
and other members of the Board of
Commissioners, or shareholders.

members of the Board of Directors and other
members of the Board of Commissioners, or
shareholders.
Annual Report 2012
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Companys Profile
71
Profiles of the Board of Commissioners
widya purnama
Pare-Pare on 26 July 1954. He
was appointed as Independent
Commissioner of the Company on
6 April 2011 and as member of the
GCG Committe and the Insurance
and Business Risk Committee on 19
April 2011 . He was graduated from
the University of Sepuluh November
Institute of Technology, Surabaya with
a degree in Electrical Engineering and
earned a Masters in Management
from Bandung Institute of Technology.
He was previously the President
Director of PT Indosat, Tbk from 2002
to 2004 and the President Director
of Pertamina (Persero) from 2004 to
2006.
as PGNs Commissioner is the
resolution of EGMS 2011 held on 6
April 2011.
M. zamkhani
Commissioner
Bambang Dwijanto
Commissioner

Magelang on 13 November 1966.
Appointed as Commissioner of
the Company on 22 May 2012. He
was graduated from University of
Gajah Mada Yogyakarta majoring
in Accounting and earned MBA in
Finance from Rutgers University,
USA. He was previously the Deputy
of Primary Industry sector of SOE
Ministry .
resolution of AGMS 2012 held on 22
May 2012.

Bondowoso on 6 November 1952.
Appointed as Commissioner of the
Company on 22 May 2012. He holds
a degree in Geology from University
in bandung and earned a Masters
degree in Marine Geology and
Geophysic from University Colege
London, UK. He was previously the
Head of Research and Development
in the Ministry of Energy and Mineral
Resources.
resolution of AGMS 2012 held on 22
May 2012.

Annual Report 2012
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Companys Profile
72
Training Program for

Board of Commissioners

TRANING PROGRAM TO ENCHANCE COMPETENCIES OF Board of Commissioners
To enhance competencies and to support the implemantation of their tasks, member of Board of Commissioners took
part in traning programs, workshop, conferences and seminars during 2012 including the following:
President commissioner / Bayu Krisnamurthi

No.
Date
Program
1 November 2012
Venue
Planning of GCG Principles Implementation

Budgeting Incollectible Trade Receivables and Financial
Reporting in SOE
Yogyakarta
independent commissioner / Widya purnama

No.
Date
Program
Venue
21-28 September 2012
Indonesia Investor Day
New York
1 November 2012

Reporting in SOE
Yogyakarta
independent commissioner/ pudja sunasa

No.
Date
Program
18-19 October 2012
1 November 2012
Venue
Daiwa - IDX Best of Indonesia
New York

Reporting in SOE
Other Commissioners did not attend any trainings, workshop, conferences and seminars during 2012.
Annual Report 2012
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Yogyakarta
Companys Profile
73

Gas Station Terbanggi Besar located in transmission pipeline SSWJ (South Sumatera West Java) Kilometer pipeline 171.3, constructed
in Lampung Province, Sumatera. With area 16 Ha, this station functions as a pressure and temperature control to ensure smoothness and
safety in transporting gas. It was developed in 2005 and became operational in 2007.
Annual Report 2012
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Companys Profile
74
Profiles of the Board of Directors
Profiles of the Board of

Directors
HENDI PRIO SANTOSO

President Director
Mochtar RIZA PAHLEVI

TABRANI
Director of Finance
DJOKO SAPUTRO
Director of Technology
and Development
An Indonesian citizen, born in Jakarta

on 5 February 1967. He was appointed
as Director of Finance of the Company
on 31 May 2007, and became President
Director on 13 June 2008. He graduated
with degrees in finance and economics
from the University of Houston, Texas,
and in economics from the University
of Texas, Austin, USA. Immediately
prior to joining the Company, he was
Director of Investment Banking at PT JP
Morgan Securities Indonesia from 2004
to 2007. He began his career at Bank
Niaga (1990-1991) and then at Citibank
NA, Indonesia (1991-1996). In 1996 he
was appointed as Vice President of PT
Perdana Multi Finance, then as Director
of Development of PT Perdana Inti
Investama (1996-1998). From 1998 to
2001 he was an Associate Director at
PT Bahana Securities, before becoming
a Director of PT Anugra Cipta Investa
from 2001 to 2004.

Jakarta on 25 July 1968. He was
appointed as Director of Finance
on 20 June 2008. Prior to this he
had served as Acting Head of the
Corporate Finance Division and
Coordinator of Investor Relations
since February 2008, and as an
Expert Advisor on Corporate
Finance and Investor Relations to
the President Director since May
2007. He graduated with a degree
in Geological Engineering from
Trisakti University, Jakarta in 1994
and earned his MBA Finance from
Cleveland State University, USA,
in 1997. From 1997 to 1999 he
served on the Senior Staff of PT
Bhakti Investama Tbk, then from
1999 to 2001 as Senior Manager at
PT Bahana Securities, from 2001 to
April 2007 as Vice President of PT
Anugra Capital, and from 2006 until
April 2007 as Vice President of PT
Alpha Energy.

Jakarta on 18 September 1962.
He was appointed as Director of
Technology and Development on
22 May 2012. He was graduated
with a Bachelor Degree Electrical
Engineering STTN Jakarta in 1991
and a Masters at University of
Manchester, England in 1995.
He was previously served as the
Director of Engineering and
Operation in PGNs subsidiary
PT PGAS Solution and as Senior
Executive Officer of Subsidiary
Management.

as PGNs Director of Finance is the
resolution of EGMS held on 31 May
2007 and as The President Director is
the AGMS and EGMS 2008 held on 13
June 2008. Reappointed as President
Director based on the resolution of
He has no affiliated relation with other
members of Director, members of
Commissioners or Shareholders

appointment as PGNs Director
is the resolution of AGMS 2012
held on 22 May 2012.
He has no affiliated relation
with other members of Director,
members of Commissioners or
Shareholders

as PGNs Director is the resolution of
AGMS and EGMS 2008 held on 13
June 2008.
He has no affiliated relation with other
members of Director, members of
Commissioners or Shareholders
Annual Report 2012
energy for life
Companys Profile
75
Profiles of the Board of Directors
m. wahid sutopo
Director of Investment Planning and
Risk Management
jobi triananda hasjim

Director of Commerce and
Operations
hendi kusnadi
Director of Human Resources and
General Affair

Jakarta on 17 June 1969. He was
graduated from ITB in 1993 with
a degree in Electrical Engineering
and earned a Masters in
Management (Executive Program)
in International Business from the
Indonesian Institute of Management
Development (IPMI Business
School) in Jakarta in 2002. He was
appointed as Director of Investment
Planning and Risk Manaagement
on 6 April 2011. He was previously
served as the Corporate Secretary
and Head of the Investor Relation
Division of the Company. From 2006
until October 2008, he was Senior
Vice President & Group Head of
Revenue Assurance at PT Indosat
Tbk. Between 2001 and 2006 he
served as Vice President & Division
Head of Investor Relations at PT
Indosat Tbk.

Bandung on 6 April 1964. He
was appointed as Director of
Technology and Development
on 6 April 2011. He graduated
with a Bachelor of Engineering
from Trisakti University Jakarta
in 1988 and got the M. Sc.
degree in Mechanics of Material
from University of Strathclyde
Glasgow in 1995. His career
with the Company began with
his appointment as GM SBU
Distribution I West Java (20082010) and he became the Head
of SBU Distribution Area I (2010).
His most recent position is as
coordinator of the expansion
project gas pipeline network
(PPJPGB).

Bandung on 26 February 1962.
He was appointed as Director of
Human Resources and General
Affairs since 22 May 2012.
He graduated with a Bachelor
degree at Institut Teknologi
Bandung in 1987. He started
his career at the Company
as the Head of Marketing
Division in 2009. Acting Head
of Operation Division in 2010.
He became General Manager
SBU Distribution Area I in 2010
and was appointed as President
Director PT Gagas Energi
Indonesia in 2011.

appointment as PGNs Director is
the resolution of EGMS 2011 held
on 6 April 2011.

appointment as PGNs Director is
the resolution of EGMS 2011 held
on 6 April 2011.
other members of Director, members
of Commissioners or Shareholders

appointment as PGNs Director
is the resolution of AGMS 2012
held on 22 May 2012.
He has no affiliated relation
with other members of Director,
members of Commissioners or
Shareholders

other members of Director, members
of Commissioners or Shareholders
Annual Report 2012
energy for life
Companys Profile
76
Training Program for Board of Directors

Board of Directors
TRANING PROGRAM TO ENCHANCE COMPETENCIES OF THE Board of DIRECTORS
To enhance competencies and to support the implemantation of their tasks, member of Board of DIrectors took part
in traning programs, workshops, conferences and seminars during 2012 including the following:
president director
No.
Date
Program
Venue
7-15 March 2012
Daiwa Investment Conference & Bond Non Deal Roadshow

(Speaker)
29 March 2012
Sosialisasi Rightsizing BUMN oleh Kementerian BUMN
Yogyakarta
2-4 April 2012
Deutsche Bank Access Corporate Day (Speaker)
Hong Kong
11-12 April 2012
Naming and Sailway Nusantara Regas 1 (Invitee)
19 April 2012
IndoCBM 2012: Panelist in Discussion Infrastructure

Development for Coal Bed Methane
6-9 May 2012
3rd Steering Committee Meeting of GASEX 2012
Lijiang, China
4-5 June 2012
World Gas Conference 2012 (Delegate)
Kuala Lumpur
6-13 June 2012
Investor Meeting with Deutsche Bank AG
29 August - 1 September 2012
Non Deal Roadshow BUMN with Credit Suisse/Danareksa
10
Indonesias Corporate day with

the President of the Republic of Indonesia
11
7-12 October
Gas Exhibition 2012 (Speaker)
12
10 October 2012
Briefing from the President of the Republic of Indonesia

for SOE
13
30-31 October 2012
Indonesia-UK Energy Dialogue
London
14
1-2 November 2012
KADINs Business Delegation

with the President of the Republic of Indonesia
London
Annual Report 2012
Tokyo, Japan
Singapore
Jakarta
Europe
Hong Kong
New York, USA
Bali
energy for life
Yogyakarta
Companys Profile
77
director of technology and development

No.
Date
Program
Venue
26 - 30 August 2012
Macquarie Asean Conference 2012
28 September - 06 October 2012
Oracle Open World
20 - 24 October 2012
Steel Cutting Ceremony HLNG Vessel Project
31 October - 01 November 2012
Dry Docking SRV GdF Suez Cape Ann
Singapore
San Fransisco, USA
Ulsan, Korea
Singapore
director of finance
No.
Date
Program
Venue
6-11 March 2012
Daiwa Investment Conference & Bond Non Deal Roadshow
27-28 March 2012
Workshop PKBL 2012, Ministry of SOE
11-12 October 2012
Workshop 2012 Ministry of SOE
18-19 October 2012
Daiwa - IDX Best of Indonesia
28 November 2012
Public Expose ( Speaker)
Tokyo, Japan
Makassar, Indonesia
Padang, Indonesia
New York
Jakarta, Indonesia
Director of Commerce & Operations

No.
Date
Program
Venue
4-8 June 2012
World Gas Conference 2012
26-28 June 2012
Indopipe 2012
8-10 October 2012
Gas Exhibition 2012
16-20 November 2012
Overseas official trip with BPH Migas
Kuala Lumpur
Jakarta
Bali
Annual Report 2012
France - Netherland
energy for life
Companys Profile
78
director of general affairs and human resources development

No.
Date
Program
Venue
6 June 2012
Seminar on Security of National Vital Objects
Jakarta, Indonesia
7 June 2012
Change Agent Sharing Forum (CASF) 2012
Jakarta, Indonesia
20 June 2012
Tax Socialization
Bogor, Indonesia
26 July 2012
Sharing Session "PGN and Open Access"
Jakarta, Indonesia
7-9 October 2012
Gas Exhibition
Bali, Indonesia
19 October 2012
Management System Workshop 2012
Bandung, Indonesia
10-11 November 2012
Redesign Braga Building Bandung Workshop
Bandung, Indonesia
12 November 2012
The 2nd International Conference on Port, Coastal, and

Offshore Engineering
Bandung, Indonesia
23 November 2012
Master Narrattive Workshop
Jakarta, Indonesia
10
28 November 2012
Public Expose ( Speaker)
Jakarta, Indonesia
11
12 December 2012
Customers Seminar at SBU I
Jakarta, Indonesia
12
19 December 2012
Training/Seminar BODs Policy - A Case study of

PT Merpati held by LKDI
Jakarta, Indonesia
Annual Report 2012
energy for life
Companys Profile
79
director of investment planning and risk management

No.
Date
Program
Venue
6-7 March 2012
UBS Indonesia Conference (Speaker)
Jakarta, Indonesia
26-30 March 2012
Indonesia Business Forum & Luncheon and

The 5th Indonesia Energy Forum (Speaker)
Jeju, South Korea
7-9 May 2012
3rd Steering Committee Meeting of GASEX 2012

(Delegate)
Lijiang, China
23 May 2012
Seminar IPA (Speaker)
Jakarta, Indonesia
4-6 June 2012
World Gas Conference 2012 (Delegate)
Kuala Lumpur
12-13 July 2012
The 3rd Japan-Indonesia Energy Policy Dialogue (Speaker)
Fukuoka, Japan
27-30 August 2012
Credit Suisse First Boston Non-Deal Roadshow 2012 and

Macquarie ASEAN Conference 2013 (Speaker)
Singapura
19th CLSA Investors Forum 2012 (Speaker)
Hong Kong
9-11 October 2012
Gas Exhibition 2012 (Speaker)
Nusa Dua, Bali
10
11-12 October 2012
Indonesias Oil and Gas Seminar & Exhibition (Speaker)
Copenhagen,
Denmark
11
29 October-3 November 2012
UK-Indonesia Energy Dialogue (Speaker)
London, UK
12
7-9 November 2012
Morgan Stanley - 11th Annual Asia Pacific Summit

(Speaker)
Singapore
13
14-November-13
PT Oracle - Seminar Fusion GRC for State Own Enterprise /

BUMN & Goal Life Ceremonial GRC in PT PGN (Delegate)
Jakarta, Indonesia
14
28-November-12
Public Expose (Speaker)
Jakarta, Indonesia
15
19 December 2012
Training/Seminar BODs Policy - A Case study of

PT Merpati held by LKDI
Jakarta, Indonesia
16
26 December 2012
Dupont - Leadership Training on Central Safety Committee

Investment Planning and Risk Management Directorate
and Finance Directorate
Jakarta, Indonesia
Annual Report 2012
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Companys Profile
80
Composition
of the Board of Commisisoners
Composition of
the Board of Commissioners
Period 1 January - 22 May 2012
President Commissioner/Independent Commissioner
Tengku Nathan Machmud
Commissioner
Kiagus Ahmad Badaruddin
Commissioner
Megananda Daryono*
Commissioner
Pudja Sunasa
Commissioner
Widya Purnama
*Resigned as of 1 March 2012, honorably discharged by Annual General Meeting of Shareholders on 22 May 2012
effective 22 MAY 2012
Bayu Krisnamurthi
Commissioner
Commissioner
M. Zamkhani
Commissioner
Bambang Dwijanto
Pudja Sunasa
Widya Purnama
Annual Report 2012
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Companys Profile
81
Composition
of the Board of Commisisoners
Composition of
the Board of Directors
Period 1 JanuarY - 5 MarCH 2012
President Director
Hendi Prio Santoso
Director of Commerce and Operations
Michael Baskoro Palwo Nugroho
Director of Technology and Development
Jobi Triananda Hasjim
Director of Finance
M. Riza Pahlevi Tabrani
Director of General Affairs and Human Resources
Eko Soesamto Tjiptadi
Director of Investment Planning and Risk Management
M. Wahid Sutopo
3
Period 5 MarCH - 22 MAY 2012
President Director
Hendi Prio Santoso
Director of Finance
M. Wahid Sutopo
EFFECTIVE 22 MAY 2012
President Director
Hendi Prio Santoso
Djoko Saputro
Director of Finance
Hendi Kusnadi
M. Wahid Sutopo
Annual Report 2012
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82
Companys Profile
Human Resources Development
Human Resources
Development
Human Resources
As the organization and the business grow, PGNs demand for human resources increases. The Company requires
employee who are competent in their field and meet the qualification standard. In 2012, PGN held a recruitment
program which took place simultaneously in 5 (five) cities: Jakarta, Surabaya, Medan, Palembang and Yogyakarta,
in order to provide equal opportunities to young men and women from the regions.
The objective of recruiting from among the ranks of national athletes was to support the Governments program
of looking after athletes development while giving appreciation for their services to the nation. Internal
recruitment, meanwhile is one of the ways in which the Comapany recognizes and rewards the performance and
loyalty of its employees and at the same time provides equal opportunities to young men and women from local
regions.
PGNs employee composition by educational background in 2012 changed from 2011. Employees educated
to Diploma, Bachelor, and Master level increased while the number of Senior High School graduates decreased
due to retirement and improvement in the employees academic competency building.
NUMBER OF EMPLOYEEs BASED ON EDUCATION

Education
2012
2011
Doctorate
Masters
114
94
Bachelor
633
547
Diploma
494
514
High School or Equivalent

Total
322
360
1564
1516
Annual Report 2012
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Companys Profile
83
Number of EMPLOyees by
Organizational Level
Organizational Level
2012
2011
Senior Management
67
66
Middle Management
143
133
Junior Management
531
489
Staff
823
828
Total
1564
1516
NUMBER OF PGNS AND SUBSIDIARYS EMPLOYEES BASED ON EDUCATION

No
Units
Education
Doctorate
Masters
Bachelor
Total
Diploma
High
School or
Equivalent
Head Office
67
249
55
34
406
SBU Area I West Java
11
108
179
166
464
SBU Area II West Java
61
88
58
210
SBU Area III North Sumatera
51
53
46
153
Project
10
59
11
88
UTSJ
72
102
10
187
PT TRANSGASINDO
PT PGASKOM
PT PGAS SOLUTION
10
PT SAKA ENERGI INDONESIA
11
PT GAGAS ENERGI INDONESIA
10
12
PT PGN LNG INDONESIA
15
13
PT NUSANTARA REGAS
TOTAL
114
633
494
322
1564
Annual Report 2012
energy for life
Companys Profile
84
Competency Building
In order to have a qualified employees, PGN has a competence development program that is planned, systematic
and focused on company business evolution. One of the programs that has been conducted consistently by PGN
is an Education and Training Program that maintains and improves PGN Human Resources quality.
To sustain a systematic and focused program in accordance with the professional competence requirement, PGN
has set Outline, Syllabuses, Modules and Facilitator Guidelines of Training and Education program for sectors
of Engineering, Operations and Commercial, which relate directly to revenue making, natural gas distribution
expertise and customer satisfaction.
A. TRAINING
No
Type of Competency
Program
Number of
Participants
85
Mandatory competency (the

competencies required for
each PGNs employee)
Supporting Competence
(Fuctional competence of
generic)
14
401
Specific Functional
Competence
81
1982
Type of Training
a. Good Corporate Governance (GCG);
b. Corporate Culture;
c. Training for Trainer
a. Leadership for First-line Management;
b. Leadership for Middle-line Management;
c. Negotiation Skill
a. Training in Engineering and Operation, cover : B3
and B3 waste, Marine & Harbour, Audit Internal
OHSAS 18001:2007 dan SMK3, Defensive
Driving & Driver Manner Batch, Metallurgist for
Non Metallurgist, Safety Riding Batch, Cathodic
Protection & Corrosion Control Certification, Pipe
Stress Analysis Using Caesar, Project Management
& Project Cost Batch 1, Corrosion Control,
Understanding Lng Business And Fsru Operation,
Mr/S Implementation, Corrosion Control (Internal
Certification), Control Valve, Coating Inspector
Certification, Piping and Pipeline System, Gas
Chromatography, Gas Pipeline Hydraulic, Gas
Engine & Turbine; and public training
b. Training in Financial and General, covers Property
Asset Management, Strategic Planning, Budget
& Controlling, PSAK with Convergency IFRS
Program and its application, Financial Modeling,
Business Management and public training
Annual Report 2012
energy for life
Companys Profile
b. Educational scholarship program for

high-achieving students in cooperation
with Taruna Nusantara Senior High
School and PTK AKAMIGAS STEM Cepu:

PGN provided a scholarship program for 10
graduates of SMU Taruna Nusantara to attend
education program Diploma I, Diploma II and
Diploma III in Gas Technology. at PTK AKAMIGAS
STEM, Cepu in 2012.
Internship and Scholarship Program

Quality and competency enhancement Program
To enhance quality and competency of employees
as well as to encourage a more global point
of view in gas business, the Company set an
internship program for its employees such as
Observation Program for Enhancement of
Employees Capabilities in cooperation with
prominent companies abroad. Most of the
programs focused on operational, distribution
maintenance and LNG facility operation.

In 2012 Observation Program for Enhancement
of Employees Capabilities was held in 2 batch:
to Osaka Gas on 25 November - 8 December 2012
for 15 days and toTokyo Gas on 2 - 8 December
2012 for 7 days.
85
In 2013, Observation Program for Enhancement

of Employees Capabilities will be held in 3
batches: to Osaka Gas on 10 23 March 2013
for 15 days and Player/Regulator in gas business
in several European countries, among others
Netherlands, Austria and Italy) at end of March
and early April 2013.
The program willl be held regularly on annual basis
including countries other than Japan and Europe.
Scholarship for Masters Program in Overseas
Universities
To enhance quality and competency of employees
as well as enlarging point of view in global gas
business as to support the Companys growth, PGN
provide scholarship program for Masters Degree
in prominent universities which focus on majors
relevant to PGNs business.
Annual Report 2012
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Companys Profile
86
SOEs Ambassador 2012

SOEs Ambassador is a forum of employees aiming
to form a strong unity among SOEs in order to
achieve the vision of the World Class Enterprises.
Formed by the State-Owned Public Relations
Forum (FHBUMN) and directly supported by the
Ministry of SOEs, the SOEs ambassador has the
slogan Synergy Starting with the Young.
For the first time, in 2012 PGN sent delegates
as participants in the SOEs Ambassador. PGN
sent two representatives to participate in the
event. After going through a series of selection
process, one of PGNs representative won the
SOEs Ambassador 2012 contest. The duty
of Ambassador Enterprises is to be a youth
ambassador and representative in every activity in
SOEs Ministry.
Expenditure on Program Activities in 2012

In 2012, PGN held 21,886 mandays for employee
trainings with total expense of Rp. 23,955,161,083.
Annual Report 2012
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87
Companys Profile
Composition of Shareholders
Composition
of Shareholders

Based on Shareholder list organized

by the Company Registrar as of 31 December 2012
A
PG
4%
56.
43.
6%
PUBLIC
Government
of the Republic
of Indonesia
4%
84.
15.8
Local
Foreign
Percentage of the total

number of shares issued and
fully paid is 24,241,508,196
shares. The Republic of
Individual
Cooperative
Foundation
Pension
Fund
Individual
12.07%
0.02%
0.42%
8.44%
0.04%
Entity
99.96%
Indonesia is the majority

shareholders owns 56.94%
of share of PGAS and one
share series A Dwiwarna
Insurance
19.77%
which has special voting
Limited
Company
27.48%
Mutual
Funds
Public Shareholders who own

less than 5% of share
of the company
31.84%
rights.
Annual Report 2012
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Companys Profile
88
PGAS Majority Shareholder
Shareholders holding 5% or more of the outstanding shares as of 31 December 2012

Name
Ownership
Republic of Indonesia
Total Shares
Percentage
13,809,038,756
56.96%
PGAS Majority Shareholder

The Republic of Indonesia holds one Series A Dwiwarna share, which has special voting rights. The Dwiwarna share has
teh same rights and restrictions as Ordinary Shares except for the fact that the Dwiwarna share cannot be transferred,
and has special rights attached to it with regard to changes in capitalization, the appointment and termination
of members of the Board of Directors and Board of Commissioners, , the Articles of Association, mergers, consolidations
and takeovers as well as the dissolution and liquidation of the Company. As of 31 December 2012, the State of the
Republic of Indonesia owned 13,809,038,756 Ordinary Shares and one Dwiwarna share with special voting rights.
Shares ownership by Directors and Commissioners

as of 31 December 2012
Name
Title
Total Shares
Percentage
Bayu Krisnamurthi
0%
M. Zamkhani
Commissioner
0%
Commissioner
0%
Bambang Dwijanto
Commissioner
0%
Pudja Sunasa
0%
Widya Purnama
0%
Hendi Prio Santoso
President Director
0%
0%
Hendi Kusnadi
Director of General Affairs and Human

Resources
140,500
Djoko Saputro
30,000
0.0001238%
Muhammad Wahid Sutopo
Director of Investment Planning and Risk

Management
0%
Mochtar Riza Pahlevi Tabrani
Director of Finance
0%
Annual Report 2012
energy for life
0.0005796%
89
Companys Profile
Interim Dividend
Since 2009 until 2012, PGN distributed Interim

Dividends as follows:
interim dividend
Date
Dividend per Share

(in Rupiah)
23 December 2009
10
4 January 2011
10.20
16 December 2011
10.87
Chronology of dividend payment

Fiscal Year
Dividend per Share

(in Rupiah)
Payout Ratio
(%)
2006
41.69*
50.00
2007
34.24*
50.00
41.74**
98.75
2008
2009
154.20
60.00
2010
154.44
60.00
2011
134.62
55.00
* Adjustment after stock split 5:1

* * Part of total cash dividend of Rp 1 trillion with the buyback shares
were excluded
Annual Report 2012
energy for life
Companys Profile
90
Information of Subsidiaries
and Association
and Association
Company
Companys Address
Subsidiary
and Affiliated
Company
Ownership
Line of Business
Companys Profile
Status
PT Transportasi
Gas Indonesia
(TGI)
Jalan Kebon Sirih Raya

No. 1
Central Jakarta, Indonesia
10340
Telp. +62 21 293
89100/315 8939
Fax. +62 21 310
3757/3545
Email: public.relations@
tgi.co.id
Web: www.tgi.co.id
Subsidiary
- Perseroan
59.87%
Gas
Transportation
TGI was established

on 1 February 2002.
Currently TGI owns and
operates the 1,000 km
long that connected
Grissik-Duri and GrissikSingaporeTransmission
which have combined
capacity of 835
MMSCFD
Operating
Wisma 7719th Floor

Jl. Letjend S. Parman Kav.
77 Slipi, West Jakarta
11410
Telp. +62 21 5366 0445
Fax. +62 21 5367 0080
Web. www.pgascom.
co.id
Subsidiary
Telecomunication
PGASCOM was
established on 10
January 2007. Currently
PGASCOM owns the
companys exclusive
right to operate and
manage the companys
fiber optic network from
the Indonesia-Singapore
border (96 core), BatamJambi-Grissik (24 core)
and Grissik PagardewaTerbanggi-Labuhan
Maringgai (24 core).
Operating
PT PGAS
Telekomunikasi
Nusantara
(PGASCOM)
- Transasia
Pipeline
Company Pvt.
Ltd. - 40%
- Yayasan
Kesejahteraan
Pegawai
Perusahaan
Umum Gas
Negara
0.13%
Perseroan
99.93%
- Yayasan
Kesejahteraan
Pegawai
Perusahaan
Umum Gas
Negara
0.07%
On 5 March 2009,
PGASCOM was licensed
by the Ministry of
Communications
and Informatics as a
Closed Fixed Network
Operator, and since then
PGASCOM has serviced
3 telecommunications
operators. In 2010,
PGASCOM plans to
enter the International
telecommunication
market in Singapore,
by establishes
subsidiary, PGAS
Telecommunications
International Ltd. In
2012, PGASCOM
expanse the market
by entered Network
Access Provider (NAP)/ISP
market.
Annual Report 2012
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Companys Profile
91
and Association
Company
Companys Address
Subsidiary
and Affiliated
Company
Ownership
Line of Business
Companys Profile
Status
PT PGAS
Solution (PGAS
Solution)
Kompleks PGN, Gedung

C, 4th Floor
Jl. K.H. Zainul Arifin No.
20 Jakarta 11140
Telp. +62 21 6385
4557/72/06
Fax. +62 21 6385 4534
Web: www.pgas-solution.
co.id
Subsidiary
- Perseroan
99.91%
Engineering
PGAS Solution was

established on 6 August
2009 and operates in
service which related
with engineering,
operation and
maintenance, workshop,
trade and construction
business.
Operating
Equity Tower 16th Floor

Suite F-G-H
Jl. Jend Sudirman Kav
52-53 SCBD
T: (62-21) 29035727
F: (62-21) 29035722
Subsidiary
Upstream
Business
PT Saka Energi Indonesia

was established on 27
June 2011 and operates
business and investment
in upstream sector,
covering exploration,
exploitation, business
expansion in oil and
natural gas, geothermal,
coal bed methane
(CBM).
Operating

Suite A-B-E
52-53 SCBD
T: (62-21) 29037505/
29037606
F: (62-21) 29037444
Subsidiary
Liquified Natural
Gas
PT PGN LNG was

established on 26
June 2012 and
operates in Liquified
Natural Gas business,
includes unlimited
in management,
transprtation, inventory,
commerce.
Operational
Preparation

52-53 SCBD
T: (62-21) 29035835
F: (62-21) 29035838
Subsidiary
Downstream
Business
PT Gagas Energi
Indonesia was
established on 27 June
2011 and operates
in management,
transportation, inventory,
natural gas and oil
business.
Operating
PT Saka Energi
Indonesia (SEI)
PT PGN LNG
Indonesia
(PGN LNG)
PT Gagas Energi
Indonesia
- Yayasan
Kesejahteraan
Pegawai
Perusahaan
Umum Gas
Negara
0.085%
- Perseroan
99%
- PT PGAS
Solution 1%
- Perseroan 99.95%
- PT Gagas
Energi
Indonesia 0.05%
- Perseroan
99%
- PT PGAS
Solution 1%
Annual Report 2012
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Companys Profile
92
and Association
Company
Companys Address
Subsidiary
and Affiliated
Company
Ownership
Line of Business
Companys Profile
Status
PT Nusantara
Regas
Wisma Nusantara, Lantai

19
Jl. M.H. Thamrin No. 59
Jakarta 10350
Telp. +62 21 3159543/44
Fax. +62 21 315 9525
Perusahaan
Patungan
- PT Pertamina
(Persero)
60%
- Perseroan
40%
Floating
Storage and
Regasification
Terminal (FSRT)
PT Nusantara Regas
was established on
14 April 2010. It is
a joint venture of PT
Pertamina ( Persero)
and PGN. Nusaregas
involves in development
and operation of FSRT
facilities including
LNG purchasing and
marketing of FSRT
operation and related
business. Nusaregas is
currently developing first
FSRT in Indonesia with
capacity of 500 MMScfd.
Operating
PT Gas Energi
Jambi (GEJ)
Jl. Jend. A. Yani No. 17

Telanaipura, Jambi
Telp. +62 741 670 207
Fax. +62 741 670 207
Affiliate
- Perseroan
40%
- PT Wahana
Catur Mas
40%
- PT Jambi
Indoguna
Internasional
10%
- PT Bukaka
Corporindo
10%
Trade,
Construction and
Services Business
GEJ operates in the

trade, construction
and services business
by distributing gas,
contracting in the
gas mining sector,
and doing business
in support facilities
for gas mining and
construction companies,
as well as other support
equipment.
Has not
opeated yet
PT Banten Gas
Sinergy (BaGS)
Kantor Taman E3.3 Unit

D6 Mega Kuningan Lot
Area 8.6-8.7 Setiabudi,
Jakarta 12950
Telp. +62 21 5794
8870/71
Fax. +62 21 5794
8870/71
Affiliate
- Perseroan
0.14%
- PT Banten
Global Synergi
- 14.14%
- PT Andiracitra
Grahawira 51.14%
- PT Ciomas
Bumi Sinergi 8%
- PT Banten
Global
Development
- 8.57%
- Ny. Yati
Sumiati 9.29%
- Tn. Izma
Agyano
Bursman 8.71%
Services,
transportation
trade and mining
business
BaGS operates in the

services, transportation,
trade and mining
business.
Operating
Annual Report 2012
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Companys Profile
93
and Association
Company
Companys Address
Subsidiary
and Affiliated
Company
Ownership
Line of Business
Companys Profile
Status
PGN Euro
Finance 2003
Limited (PGNEF)
C/o Citco (Mauritius)

Limited
9th Floor, Medine Mews
La Chausse Street
Port Louis, Mauritius
Subsidiary
Perseroan
100%
Finance
PGNEF was established

in Mauritius in
connection with the
issue of Guaranteed
Notes worth USD 150
million and USD 125
million. Both guaranteed
Notes had a tenor of 10
years and were listed
on the Singapore Stock
Exchange Securities
Trading Ltd. in 2003 and
2004.
Preparing
for closure
of the
operational
On 24 December 2009,
the USD 150 million
and USD 125 million
Guaranteed Notes were
redeemed prior maturity
i.e. 10 September 2013
and 24 February 2014.
Annual Report 2012
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Companys Profile
94
Profile of Subsidiaries
Profile of
Subsidiaries
1. PT Transportasi Gas Indonesia (Subsidiary)
PT Transportasi Gas Indonesia (TGI) was the first
company in Indonesia to operate in the business
of transporting natural gas for the domestic and
international markets through pipelines. Since its
establishment on 1 February 2002, TGI has been
committed to being Indonesias Transporter of
Choice. TGI continues to promote the use of natural
gas in Indonesia by ensuring safe, reliable and timely
deliveries.
TGI currently operates more than 1,000 kilometers
of gas pipeline, both on- and offshore, which connect
Grissik with Duri and Grissik with Singapore. TGIs
other major assets include three compressor stations
in Sakernan, Belilas, and Jabung (Sumatra) and three
metering stations in Duri, Riau; Panaran, Batam and
Pemping, Riau Islands. TGI also has a long-term
Gas Transportation Agreement (GTA) until 2023.
Looking to the challenges of the future, TGI stands
ready to raise its performance level and explore all
opportunities to meet the demand for energy, and
in particular to fulfill Indonesias energy needs.
To address this challenge, several preparations have
already been made, including human resources
development, technology improvements and the
development of appropriate, integrated supporting
facilities to enhance TGIs performance.
The Board of Commissioners and Board of Directors

of TGI as of the end of 2012 were as follows:
Board of Directors
Arsyad Rangkuti
President Director
M. Komaruddin
Director of Engineering
Mangatas Panjaitan
Director of Finance and

Administration
Arief Transaindra
Kushermawan
Director of Business
Development
Mohd. Adid Mohd. Salleh
Director of Operations
Hendi Prio Santoso
Eddy Hariono
Commissioner
Heri Yusup
Commissioner
Iskandar B. Ismail
Vice President
Commissioner
Arief Yusuf Hassan
Commissioner
Financial Highlights of TGI in 2012:

(in million USD)
Description
Revenues
Operating income / Loss
2012
2011
191.70
186.87
59.77
56.31
Total Assets
701.12
755.87
Total Liability
285.55
365.06
Total Equity
415.57
390.81
Annual Report 2012
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Companys Profile
95
Gas receiving station belonging to PT Transportasi Gas Indonesia, a subsidiary of PGN, in Panaran, Batam
Annual Report 2012
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2. PT PGAS Telekomunikasi Nusantara

(Subsidiary)
PT PGAS Telekomunikasi Nusantara (PGASCOM)
is a telecommunications company that manages
a fiber optic (FO) network between Jakarta
and Singapore as well as providing other
telecommunications services such as Clear Channel
and Broadband.
As at the end of 2012, PGASCOM was in
possession of several licenses, including a national
Closed Fixed Network license from the Ministry
of Communications and Information Technology,
Landing Rights in Singapore, and an SBO License
through PGASCOMs Singapore subsidiary, PGAS
Telecommunication International Pte. Ltd. PGASCOM
is currently also applying for a license to operate
internet interconnection services or Network Access
Points (NAP) as the basis of its IP Transit and internet
services.
The Board of Directors and Board of Commissioners

of PGASCOM as of the end of 2012 were as follows:
Board of Directors
Yoyo W. Basuki
President Director
Bambang Ismartono
Director of Engineering and

Commerce
Hermin Indayati
Director of Financial and

Administration
M. Wahid Sutopo
Wibisono
Commissioner
Harry Zachrias Seoratin
Commissioner
PGASCOMs 2012 financial highlights were as

follows:
(in million Rupiah)
Description
2012
2011
103.950,95
86.898,43
10.086,75
12.375,05
177.644,50
120.499,76
Total Liability
71.538,94
24.480,95
Total Equity
106.105,57
96.018,81
Revenues
Net Income (loss)
Total Asset
Annual Report 2012
energy for life
Companys Profile
3. PT PGAS Solution (Subsidiary)

PT PGAS Solution (PGAS Solution) operates
in the engineering, construction, operation and
maintenance and trading businesses.
In 2012, PGAS Solution carried out several
packages of work, including EPC, engineering and
operation & maintenance orders from PGN and its
subsidiaries.
The Board of Directors and Board of
Commissioners of PGAS Solution as of the end of
2012 were as follows:
97
PGAS SOLUTIONs 2012 financial highlights were as

follows:
(in million Rupiah)
Description
Net Revenues
Net Income (Loss)
Total Asset
2012
2011
208.066,93
88.631,59
17.815,17
9.971,98
135.596,93
50.242,30
Total Liability
23.553,57
6.014,11
Total Equity
112.043,36
44.228,19
4. PT Saka Energi Indonesia (Subsidiary)

Board of Directors
Herman Usman
President Director
Danu Prijambodo
and Operations
Erning Laksmi Widyastuti

Administration
Sulistyo Elly
Director of Commerce
Djoko Saputro
Gumilang Harjakusuma
Commissioner
Commissioner
PT Saka Energi Indonesia (SAKA) was established

to strengthen PGNs upstream presence in order
to support PGNs security of supply through
business and investment in exploration, exploitation
and business expansion in oil and natural gas,
geothermal, coal-bed methane (CBM) and other
energy sources. Upstream investments are made
through participation in producing natural gas
fields or small to mid-sized fields that have Plan of
Development approval and have remaining reserves.
Annual Report 2012
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Companys Profile
98
In 2012, as well as conducting due diligence

on several oil and gas blocks, SAKA established
two subsidiaries, PT Saka Lematang and PT Saka
Ketapang Perdana. PT Saka Lematang has a minority
participation in the Lematang CBM block, while PT
Saka Ketapang Perdana has a minority participation
in Ketapang PSC, a conventional oil and gas block.
On 18 February 2013, PT Saka Ketapang Perdana
(SKP) received approval from Indonesias Director
General of Oil and Gas for the transfer of Sierra Oil
Services Limiteds 20% participating interest in the
Ketapang Block in East Java at an acquisition cost
of USD 71 million for reserves on 2P of 84 MMBOE.
This is equivalent to USD 4.2/BOE based on the
owned reserve on 2P. This block, which is operated
by Petronas Carigali, will lift 25,000 barrels of crude
oil per day and 50 MMCFD of natural gas at the
peak of its production.
of SAKA as of the end of 2012 were as follows:
Board of Directors
Firman Yaman
President Director
Ery Surya Kelana

Administration
Tumbur Parlindungan
SAKAs 2012 financial highlights were as follows:

(in million Rupiah)
Description
Nusantara Suyono
Commissioner
Didi Dwi Sutrisnohadi
Commissioner
2011
Net Revenues
Net Income (Loss)
(39,639.13)
167.37
Total Asset
41,827.42
38,983.61
Total Liability
43,298.93
816.24
Total Equity
(1,471.77)
38,167.37
5. PT Gagas Energi Indonesia (Subsidiary)

PT Gagas Energi Indonesia (GAGAS) was
established to strengthen PGNs downstream
business, including the trading of piped gas,
Compressed Natural Gas (CNG) and SPBG, as well as
the Mini LNG and LNG businesses.
In 2012, GAGAS secured natural gas supplies from
various sources. In addition, GAGAS supplied
3,495,147 MMBTU of natural gas to customers.
of GAGAS as of the end of 2012 were as follows:
Board of Directors
Suko Hartono
President Director
Dadang Gandara

Administration
Ivanna Laksmini Devi
2012
Hendi Kusnadi
Subanendra
Commissioner
Iman Rochendi Ahmad
Commissioner
Annual Report 2012
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Companys Profile

of PGN LNG as of the end of 2012 were as follows:
GAGASs 2012 financial highlights were as follows:

(in million USD)

2012
2011
41.71
1.93
(0.02)
Total Asset
27.39
3.67
Total Liability
21.84
0.05
Total Equity
5.55
3.62
Description
Net Revenues
Net Income (Loss)
Board of Directors
Nisi Setyobudi
President Director and

and Operations
Administration
M. Napitupulu
Thohir Noor Ilhami
3
6. PT PGN LNG Indonesia (Subsidiary)
PT PGN LNG Indonesia (PGN LNG) was established

to operate the forthcoming Lampung FSRU. This
year, a consortium of Hoegh LNG and PT Rekayasa
Industri began construction on the Lampung
FSRU. Land acquisition, licensing and tug boat
procurement are being accomplished in parallel with
the physical construction of the FSRU.
Sri Budi Mayaningsih
Commissioner
Doddy Adianto
Commissioner
Financial Highlight of PGN LNG in 2012:

(in million Rupiah)
Description
In 2012, PGN LNG signed LNG Master Sales and

Purchase Agreements (MSPA) with several LNG
suppliers to obtain LNG supplies from the spot
market.
In future, PGN LNG will continue to actively pursue
LNG supplies for the operation of the FSRU in
order to meet domestic demand for natural gas for
customers in the industry, commercial, household
and electricity generation sectors, particularly in
western Java. The Lampung FSRU will significantly
strengthen PGNs presence in the LNG business
chain.
2012
0
(278,44)
375,591.06
869.50
374,721.56
Net Revenues
Net Income (Loss)
Total Asset
Total Liability
Total Equity

Note: PGN LNG was established on 26 June 2012
Annual Report 2012
2011
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Companys Profile
100
7. PT Nusantara Regas (Affiliated Company)

PT Nusantara Regas (NR), a joint venture between

PGN and PT Pertamina (Persero), is the first company
in Indonesia to operate in the Floating Storage and
Regasification Unit (FSRU) business. NR passed
an important milestone in 2012 when the 3 MTPAcapacity FSRU in Jakarta Bay began supplying gas to
PLNs power stations in Muara Karang and Tanjung
Priok.
By the end of December 2012, NR had processed

14 shipments of LNG from the Mahakam PSC in
Bontang, or 41,171,540 MMBTU. NR also supplied
34,231 BBTU or 34,230,754.966 MMBTU of gas,
comprising 32,438,094.391 MMBTU of gas to PLN
and 1,792,660.575 MMBTU to PGN.
In future NR will continue to seek LNG supplies from
both domestic and international sources to ensure
that the FSRUs 3 MTPA capacity is fully optimized. In
addition, NR will seek new markets beyond PLN and
will assess the potential for developing other FSRU
in order to meet domestic demand for gas.

of NR as of the end of 2012 were as follows:
Board of Directors
Hendra Jaya
President Director
Nugroho Rachmadi
and OperationS
Sutikno

Administration
Hari Karyuliarto
Ismet S. A. Pane
Commissioner
Yenni Andayani
Commissioner
NRs 2012 financial highlights were as follows:

(in million USD)
Description
2012
Net Revenues
616.05
20.82
(1.12)
Total Asset
275.63
130.59
Total Liability
109.99
16.34
Total Equity
165.65
114.26
Net Income (Loss)
2011
Annual Report 2012
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Nusantara Regas Satu, Floating Storage Regasification Unit/FSRU located in Teluk Jakarta has capacity of 3 MTPA
Annual Report 2012
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Chronology of Stock Listing
Chronology of stock listing

No Description
Republic of
Indonesia (Shares)
Public (Shares)
Total (Shares)
Percentage owned
by the Republic of
Indonesia
3,500,000,000
3,500,000,000
100%
(864,198,000)
864,198,000
820,987,000
2,635,802,000
1,685,185,000
56,943,305
MSOP 1 (20052006)
108,024,675
MSOP 2 (20062007)
53,930,825
2,692,745,305
1,847,140,500
(185,802,000)
185,802,000
2,506,943,305
2,032,942,500
53,551,388
2,506,943,305
2,086,493,888
4,593,437,193
54.58%
12,534,716,525
10,432,469,440
22,967,185,965
54.58%
992,724,172
13,527,440,697
10,432,469,440
Prior to IPO
IPO (15 December 2003)

Listed on BEJ and BES*
Divestment
New share issue without Right Issue
Conversion of DPP 1 (2004)
Divestment December 2006
MSOP 3 (20072008)
Stock Split (5:1)

(August 2008)
Conversion of DPP 2 phase 1

(April2009)
4,320,987,000
4,539,885,805
61.00%
59.31%
4,539,885,805
55.22%
23,959,910,137
56.46%
Conversion of DPP 2 phase 2 (October

2009)
281,598,059
13,809,038,756
10,432,469,440
24,241,508,196
56.96%
As of 31 December 2012
13,809,038,756
10,432,469,440
24,241,508,196
56.96%
* merger to become Indonesian Stock Exchange
Annual Report 2012
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103
Companys Profile
Securities Highlight
Chronology of Securities Listing

and Credit Rating
SECURITIES highlight
Type of Security
Value
Coupon Rates
Maturity Date
Rating
Status
Guaranteed Notes
USD150 million
7.5%
10 September 2013
Ba2 by Moodys
Guaranteed Notes
USD125 million
7.5%
13 February 2014
BB- by S&P
Fully paid at par

value as of 24
December 2009
Credit rating
Rating Agency
Rating
Outlook
BB+
Stable
Ba1
Positive
Fitch
BBB-
Stable
Pefindo
AAA
Stable
Standard & Poor

Moodys
Credit Rating until 8 March 2013
CREDIT RATING AGENCIES AND ADDRESSESS

PT Pemeringkat Efek
Indonesia (Pefindo)
Panin Tower Senayan City
Lt.17
Jl. Asia Afrika Kav. 19
T. (62-21) 7278 2380
F. (62-21) 7278 7370
Standard & Poors

Prudential Tower
30 Cecil Street, Singapore
T. (65) 6438 2881
F. (65) 6438 2321
Moodys Asia Pacific

Limited
2510 One International
Finance Center
1 Harbour View Street,
Central, Hong Kong
T. (852) 29161173
F. (852) 25090165
Annual Report 2012
Fitch Ratings
One State Street Plaza
New York,
NY 10004, USA
T. (1) 212 908 0500
energy for life
Companys Profile
104
Name and Address of Agency and or

Capital Market SupportingProfessionals
Name and Address of Agencies

and/or Capital Market Supporting
Professionals
Share Registrar
PT Datindo Entrycom
Wisma Dinners Club Amex
Jl. Jend. Sudirman Kav. 3435
Jakarta 10220
T. (62-21) 5709009
F. (62-21) 5709020
Indonesia Stock Exchange

Indonesia Stock Exchange Building, 1st Tower
Jl. Jend. Sudirman Kav 52-53
Jakarta Selatan 12190, Indonesia
T. (62-21) 5150515
F. (62-21) 5150330
Share Registrar
Indonesia Stock Exchange
Agreement on the adminstration of the Companys share

with regard to Initial Public Offering (IPO) is stated on the
Contract No. 030.KK/92/UT/2003 made and signed on 10
October 2003.
Indonesia Stock Exchange is an institution or entity which

holds and provides system and means so that parties
who offer shares can meet buyers or vice versa (shares
trading). PGN as Public Company is required to submit
report to indonesia Stock Exchange about information,
facts which are considered material and relevant to PGN.
PGN was listed on Indonesia Stock Exchange on 15
December 2003. PGN pays an annual fee for membership
of Rp100,000,000.
Currently, PT Datindo Entrycom as the Share Register

provides administation service for secondary market. PT
Datindo Entrycom is responsible for the administration of
shaeholders list including changes in the shareholder list
on behalf of the public company. PGN pays an annual fee
for the administration service in the secondary market of
Rp 44,000,000 (including PPN).
Annual Report 2012
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Companys Profile
Public Accountant
Purwantono, Suherman & Surja
(Member firm of Ernst & Young Global
Limited)
Indonesian Stock Exchange Building Tower 2, 7th Floor
Jl. Jend. Sudirman Kav. 5253
T. (62-21) 52895000
F. (62-21) 52894100
www.ey.com/id
Company Independent Accountant

The Company has appointed an external auditor in
line with the resolution of Annual General Meeting
of Shareholders of PT Perusahaan Gas Negara
(Persero) Tbk on 22 May 2012, which approved the
appointment of Public Accountants Purwantono,
Suherman & Surja, a member firm of Ernst & Young
Global Limited, to review the Semester I Financial
Statement and audit the Financial Statement for fiscal
year 2011 based on the recommendation of the Board
of Commissioners. Purwantono, Suherman & Surja is
registered with Bapepam. The total fee for the Audit
of the Consolidated Financial Statements for 2011 was
Rp2,510,541,000 (including OPE and VAT).
105
Name and Address of Agency and or

Capital Market SupportingProfessionals
Public Accountants Purwantono, Suherman & Surja ,

a member firm of Ernst & Young Global Limited, has
been the Companys auditor since fiscal year 2010.
They have completed their tasks independently, in
accordance with the professional standards for Public
Accountants, the work contract and the agreed audit
scope. Public Accountants Purwantono, Suherman &
Surja do not provide any other consultancy services to
PGN. The accountant who has signed the Independent
Auditors Report for 2011 is Indrajuwana Komala
Widjaya.
PT Kustodian Sentral Efek Indonesia (KSEI)

Gedung Bursa Efek Indonesia Tower 1 Lt.5
Jl. Jend. Sudirman kav. 52-53, Jakarta 12190
Indonesia
T. (62-21) 515 2855
F. (62-21) 5299 1199
Kustodian Sentral Efek Indonesia

(Indonesian Central Securities Custodian)
Public companies whose shares/securities are registered
in KSEI use KSEIs services to administer their issued
shares/securities in order to obtain data of investors
or securities holders as part of distribution process in
corporate actions. PGN pays annual fee for membership
of Rp11,000,000 (including PPN)
Annual Report 2012
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Companys Profile
106
Awards and Certification
Awards
and Certification
Platinum Winner 2011

Vision Awards
2011 Annual Report competition
by League of American
Communications Professionals
(LACP) in 2012
Rank 13th from 100 World Best

Annual Report
2011 Annual Report Competition
by League of American
Communications Professionals
(LACP) in 2012
2012 Indonesian
Business Award
Best infrastructure,
utility and
transportation
category in 2012
Rank 3rd from 50 Best

Annual Report in Asia Pacific
2011 Annual Report
Competition by League of
American Communications
Professionals (LACP) in 2012
A Accreditation from ANRI

PGN got A accreditation from
National Archive of Republic
of Indonesia with a five-year
period of validity submitted
directly by the Head of ANRI.
PGN is the first SOE to receive
Archives Unit Accreditation
Most Creative Annual Report

Awarded Platinum in Asia
Pacific in 2011 Annual Report
Competition by League of
American Communications
Professionals (LACP) in 2012
Annual Report 2012
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107
Awards and Certification

s Kinerja 2012
Companys Profile
Overall Winner Annual Report

Award 2011 held by Finance
Ministry of the Republic of Indonesia
in 2012
Kila
Indonesia Trusted
Companies
From SWA Magazine based
on Investor and Analysts
Survey in 2012
SBI Award 2012

Innovation in developing
educational infrastructure from
Warta Ekonomi in 2012
Runner Up ISRA
8th Indonesia
Sustainability Reporting
Award
1st place Category of

SOE/ROE Non-Financial
Listed
In 2011 Annual Report
Award by the Ministry of
Finance of Republic of
Indonesia in 2012
Certificate of renewal and

expansion of the scope
ISO 9001:2008 Quality
Management System by LRQA
which is valid until January
2015
Zero Accident Award

SBU Distribution Area III
was awarded Zero Accident
Award from Manpower and
Transmigration Province of
North Sumatera
Green CEO 2012

Service and gas distribution
sector from Warta Ekonomi
in 2012
Annual Report 2012
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Companys Profile
108
Significant events in 2012
Significant events
in 2012
24 January 2012
PGN signed cooperation with Dupont
for office and project site safety
implementation
5 March 2012
PGN held Extraordinary General Meeting
of Shareholders at Mulia Hotel ,Jakarta
12 April 2012
PGN donated one unit ambulance and
build an Islamic Primary School in Desa
Tambak, Kecamatan Lekok, Pasuruan
22 May 2012
PGN held General Meeting of Shareholders
at Ritz-Carlton Pacific Place Hotel, Jakarta.
27 June 2012
In cooperation with Cita Tenun Indonesia (CTI),
PGNs CSR gave an assistance of Rp1.4 billion to
enhance the weaving skills of weaver artists in
Kampung Tenun, Garut
12 July 2012
PGN was awarded Best
Infrastructure, Utilities and
Transportation sector
by Bisnis Indonesia Award 2012
Annual Report 2012
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Companys Profile
109
Significant events in 2012
19 December 2012
PGN received Non-Cash Loan facilities
of USD140 million from PT Bank Negara
Indonesia (Persero) Tbk
28 November 2012
PGN held Public Expose and Investor
Summit at Ritz-Carlton Pacific Place
Hotel, Jakarta
17 October 2012
The signing agreement
with Hoegh and Rekayasa Industry
for FSRF Development in Lampung.
18 September 2012
PGN was awarded Overall Winner in
the Annual Report Award (ARA) 2011
31 July 2012
PGN was awarded Green CEO and
Social Business Innovation Award
2012 from Warta Ekonomi
17 July 2012
PGNs CSR gave its participation for the
amount of Rp171.1 billion through StateOwned Enterprises for Joint Corporate
Social Responsibility Program and took
part in publishing 33 comic series of
Indonesian legend
Annual Report 2012
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Companys Profile
110
Maintenance and monitoring activities at gas compressor station facility at Pagardewa, Palembang. There are three compressors
at the the largest compressor station owned by PGN.
Annual Report 2012
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PGNs Strategy
Annual Report 2012
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Annual Report 2012
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PGNs Strategy
113
PGNs Transformation
PGNs
Transformation

PGN
set out its Accelerated
Transformation Program
aimed at realizing its vision,
mission and objective as
well as improving the value
of transformation program
implementation
2012
was the period of building the

capability to adapt to internal
and external changes
Excellent Service
Operator PGN at Offtake Station Kalisogo SBU II ready to give
excellent service to PGNs customers
Photo by:
Dhani Amannatur, Department of Operation & Maintenance SBU II
Annual Report 2012
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PGNs Strategy
114
PGNs Transformation
PGNs
Transformation
In response to the challenges and developments in the
The key focuses at this stage were:
business as we go Beyond Pipeline, PGN has set out
Formulating a transformation program in line with
a transformation strategy and formulated a strategic

work plan for 2013.
the corporate vision, mission and objectives.

Providing the resources needed (human resources,
funds, etc.).
Accelerated Transformation Program

The Accelerated Transformation Program (ATP)
includes a detailed work plan and timeline and
specifies the units involved, as well as the mechanisms
Preparing guidelines for the implementation of the

transformation.
Beginning to manage the implementation of the
transformation.
for monitoring and evaluating each phase of

implementation of the transformation program (QLP).
2012 Adaptability
The ATP, which is also known as ATP THE PGN
Once the objectives of the transformation had been
WAY, is the responsibility of the Transformation and
agreed, we needed to build the capability to adapt to
Performance Control Division.
the changes that were taking place.
ATP THE PGN WAY is aimed at:

a. Accelerating the realization of the corporate vision,
mission and objectives.
b. Increasing value through the implementation of
programs and strategies.
c. Reducing the risk of implementation failure through
comprehensive monitoring and evaluation processes
involving the parties concerned.
The main focuses at this stage were:

Building organizational capacity to respond
effectively to internal and external change.
Increasing capacity for innovation and creativity.
Making continuous improvements.
Developing corporate entrepreneurship (cost/profit
consciousness).
2013 - Performance
ATP THE PGN WAY FIVE-YEAR FOCUS
This is the stage at which the transformation program
The key focuses of ATP THE PGN WAY during the first
will reach maturity, and we should already be able to
five years of implementation are as follows:
feel the impact of the program.
2011 Alignment
Maximizing impact/value creation from the
This was a period of alignment, when we ensured that

everyone in PGN shared the same perception of the
The principal focuses at this stage will be:

transformation program.
Maximizing overall company performance.
transformation in order to reinforce its direction and

objectives.
Annual Report 2012
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PGNs Strategy
115
Capturing the lessons learnt from the

implementation of the transformation program.
Building and maintaining a culture of high
performance in all functions and at all levels of the
organization.
PGNs Transformation
Implementation of Transformation Process in 2012

In line with the companys phased transformation
into a world class energy company in natural gas
exploitation in Indonesia by 2015, PGN continued
to strengthen the core businesses and develop new
businesses that will take us beyond pipeline. In 2012,
2014 - Excellence
With the transformation program well under way, we
expect to be able to achieve excellence at this stage.
The key focuses of this stage will be:
Applying World Class Best Practices throughout the
company.
Achieving operational excellence effectively.
Achieving peak corporate performance.
2015 - High-Performing Organization (HPO)
According to the phases outlined in the Corporate
Long-Term Plan 2011 - 2015 (RJPP 2011 - 2015), in this
phase PGN is expected to become a High-Performing
Organization .
The main focuses at this stages are:
Institutionalizing World Class Best Practices
effectively.
Achieving/maintaining peak performance
consistently.
Becoming a complete high-performing organization.
the transformation program that began in 2011 made

progress in a number of fields.
1. LNG Business Development
In 2012, our affiliate PT Nusantara Regas, a joint
venture between PGN and PT Pertamina (Persero),
commercialized the first gas from the LNG
regasification facility in Jakarta Bay, which sent the
first gas in to PLNs Muara Karang power station.
PGN is also building another Floating Storage and
Regasification Unit (FSRU) in Lampung,which is
scheduled to begin commercialization in 2015.
In 2012, PGN established a subsidiary to handle
the LNG business. PGN LNG Indonesias scope
of business includes securing LNG supplies, LNG
regasification, storage and transportation of LNG
and natural gas to customers, as well as related
business activities that support the Companys
operations. The establishment of this subsidiary is
part of PGNs commitment to go beyond pipeline.
Annual Report 2012
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PGNs Strategy
116
PGN LNG will seek LNG supplies both in Indonesia

and abroad to meet the increasing demand for
Transformasi PGN
2. Logistic Transformation
This transformation aims to improve and accelerate
natural gas, which cannot be fulfilled by the existing
the process of procurement, cost efficiency, price
piped sources. Since its establishment, PGN LNG
optimization and quality goods and services.
has actively sought sources of LNG supplies and has

signed LNG Master Sales and Purchase Agreements
In 2012, as part of PGNs realignment of its
(MSPA) with LNG supplies. PGN has also signed a
organization and business processes, a list of
number of cooperation agreements with partners to
permanent suppliers of goods and services was
develop LNG in Indonesia.
developed, a centralized procurement system

applied for various procurement packages, and
Going forward, PGN LNG will operate and manage
consultants appointed to assist with and supervise
LNG supplies for the LNG FSRU in Lampung to meet
the implementation of the logistics transformation
the demand for gas in West Java and Lampung.
process.
PGNs efforts to obtain LNG supplies are supported

by the Government. In 2013, the Government
allocated LNG supplies from domestic fields for the
countrys FSRU for the period 2013-2025.
3. Synergy between Subsidiaries and the Holding

Company
On February 8, 2012 a Synergy Commitment
was signed between PGN and its subsidiaries, PT
Transportasi Gas Indonesia, PT PGAS Telekomunikasi
Nusantara, PT PGAS Solution, PT Saka Energi
Indonesia, and PT Gagas Eergi Indonesia. The
agreement is aimed at optimizing all the resources
and expertise within both PGN and our subsidiaries
and affiliates to achieve our objectives together.
During 2012, several synergy programs were carried
out, both between PGN and its subsidiaries and
between the subsidiaries themselves, covering all
activities outside PGNs business that could enhance
control of the core business and create new business
opportunities, such as in telecommunications and
operation and maintenance.
Annual Report 2012
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PGNs Strategy
117
4. Performance Management System

In 2012, PGN implemented an Individual
Transformasi PGN
With regard to safety, in 2012 we established a

corporate Executive Central Safety Committee
Performance Management System using key
chaired by the President Director, Central Safety
success factors. The implementation of the IPMS is
Committees in the Directorates chaired by the
supported by an integrated information technology
relevant Directors, and Central Safety Committees
system, the Success Factor System. By using this
in each SBU and Project, which are chaired by the
web-based system, every employee can monitor
General Managers and Project Implementation
their individual performance through the internet
Coordinators. These have all been stipulated by
anytime and anywhere. This system reinforces the
the Board of Directors in the OSH&EM Terms of
relationship between performance targets at the top
Reference.
and bottom to achieve the agreed targets.

The achievement of the transformation programs
5. Transformation of Occupational Safety and
in 2012 is in line with the plans set out at
Health and Environmental Management
the beginning of the year. We are therefore
(OSH&EM)
optimistic about the achievement of Phase I of the
In 2012, PGN integrated the environmental and
transformation program (2011 2015).

4
energy policies in the Occupational Safety and

Health and Environmental Management (OSH & EM)
policy. The policy is now known as the Occupational
Safety & Health and Environmental & Energy
Management (OSH & EM) Policy. By updating the
OSH & EM and SHE Goals in PGNs vision, concern
for energy conservation and attention to various
aspects of health in the workplace are intensified.
Annual Report 2012
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PGNs Strategy
118
Strategic map 2013
Strategic Map
2013
Guideline
Description
Gas Supply
Security of Supply
Infrastructure
Development
Development of New Infrastructure and

Strengthening Existing Infrastructure
Business Expansion
Technology
Business Along Natural Gas Value Chain
Through Technology and Information

Systems
Regulatory
Management Regulation and

Strengthening Engagement with
Stakeholders
Organization &
Capability
Developing The Organization and

Enhancing Internal Capabilities
Operation
Excellence & Safety
Achieving Safety Through Operational

Excellence
Annual Report 2012
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Managements Discussion
and Analysis
Annual Report 2012
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Managements Discussion and Analysis
121
Managements Discussion
and Analysis
PGNs 15.52%
growth in net
revenues in 2012 was
derived mainly from
the distribution and
transmission business
USD2.58
Net Revenues
Annual Report 2012
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billion
122
Operational Review
Operational
Review
Operational Review of Each Business Segment
As a State Owned Enterprise (SOE) specializing in
natural gas transmission and distribution and pursuant
to Oil and Gas Law No. 22, year 2001, which separates
upstream and downstream oil and gas business, PGN
specializes in downstream business, which connects
natural gas producers to natural gas consumers.
In delivering its operational activity, PGN divides its
business into 3 (three) main business segments: (1)
transmission/transportation, (2) distribution/trading
and (3) other business segments (fiber optic capacity
leasing, and construction and maintenance business).
No.
1
Transmission
Pipeline
Wampu - Balawan
Length
(Km)
37
536
Grissik - Duri
Grissik - Batam Singapura
470
Transmission/Transportation Business
Segments
Transmission/Transportation Activities
Transmission Business Activity involves transporting
the producers natural gas through a high pressure
transmission pipeline to the offtakers transfer point.
In this activity, PGN generates income by charging a
toll fee, which is set by BPH Migas.
Below is the summary of transmission business activity,
including transmission pipe length (kilometers), the gas
field owner, the transfer point, and the operators in
charge.
Shipper
Offtaker
PT PLN
PT PLN
Conoco Phillips (Grissik) Ltd.
PT Chevron Pacific Indonesia
PT Energasindo Heksa Karya
PT PLN (Persero) - Payo Selincah
RAPP, IKPP, Pertamina Lirik,

Pertamina Ukui
PT Pertamina Hulu Jambi Merang

Talisman (Jambi Merang) Limited Pacific
Oil & Gas (Jambi Merang) Ltd.
PT Chevron Pacific Indonesia
PT PLN (Persero)
PT PLN (Persero) - Payo Selincah
PT Gagas Energi Indonesia
IKPP
SSWJ
1,004
Total
2,047
PGN (SBU
Distibution Area III
Northern Sumatera)
Conoco Phillips (Grissik) Ltd
Gas Supply Pvt Ltd.
Conoco Philips (South Jambi) Ltd
Gas Supply Pvt Ltd.
PetroChina International Jabung Ltd.
Gas Supply Pvt Ltd.
Batam DIstribution Network PLN

Batam
Perusahaan Daerah Pertambangan

dan Sumatera Selatan (PDPDE South
Sumatera)
PT Lontar Papirus Pulp & Paper

Industry (LPPPI)
PT Inti Daya Latu Prima
Dalle Energy Batam PLN Batam
PGN (SBU Distribution Area I Western

Java) PLN Muara Tawar
PGN (SBU Distribution Area

Western Java) PLN Muara Tawar
Annual Report 2012
Operator
energy for life
PT Transgasindo
Indonesia
PT Transgasindo
Indonesia
PGN (SBU
Transmission
Sumatera Java)
123
Operational Review
TGIs Gas Transportation
PGNs Gas Transportation
TGIs transportation activity showed an improvement

compared to 2011. The growth is partly due to the
5.68% increase in gas distribution for power plant
and industries in Singapore, from 372.79 MMScfd in
2011 to 393.94 MMScfd in 2012.
To support the government program to reduce the oil

fuel subsidy for PLN, PGN delivered gas to PLN Muara
Tawar from the Jambi Merang Gas Field through
the SSWJ pipeline. The transportation business
from Jambi Merang Gas Field to PLN Muara Tawar
increased significantly due to the stabilizing gas
distribution to PLN Muara Tawar of 42.25 MMScfd in
2012.
Along with the increasing gas consumption for

industries in Pekanbaru area, PGN transportation to
supply gas demand in the area also grew by 6.5%,
from 11.93 MMScfd in 2011 to 12.70 MMScfd.
On the other hand, gas transportation to PLN Medan

in particular experienced a significant slowdown
due to a 60.65% natural decline in the PLN Medans
suppliers gas field, from 29.27 MMScfd in 2011 to
11.52 MMScfd in 2012.
97
87
6.
49
5.
84
876.97
83
6.
37
10
11
12
MMScfd
Total Transmission Volume
TRANSMISSION/
TRANSPORTATION
PERFORMANCE
(MMScfd)
Annual Report 2012
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124
Operational Review
TRANSMISSION/TRANSPORTATION BUSINESS PERFORMANCE

2012
2011
(%)
MMScf
MMScfd
MMScf
MMScfd
Grissik - Duri
133,595.00
352.31
133,512.00
365.79
(3.68)
Grissik - Singapore
166,840.00
393.94
136,067.00
372.79
5.68
4,649.00
12.70
4,353.00
11.93
6.50
22,657.00
61.90
22,941.00
62.85
(1.51)
Transmission (TGI) :
Grissik - PGN Area Pekanbaru 1)

Grissik - PGN Area Batam 2)
Transmission (PGN) :
To SPBG Jakarta
To PLN Medan
To PLN Muara Tawar
Total
855.89
2.34
1,046.00
2.87
(18.38)
4,216.19
11.52
10,685.00
29.27
(60.65)
15,464.78
42.25
0.00
0.00
0.00
348,277.86
876.97
308,604
845.49
3.72
1) through Grissik- Duri pipeline

2) through Grissik- Singapore pipeline
Distribution/Trading Business
Distribution/Trading Business Activities
PGNs distribution/trading business is managed by
the Strategic Business Unit (SBU). The operating area
of the distribution/trading business includes Jakarta,
Bogor, Bekasi, Banten, Karawang, Cirebon, Palembang,
Surabaya, Sidoarjo, Pasuruan, Medan, Pekanbaru and
Batam. The distribution/commercial business activity is
managed by the sales and service units.
customers (1.4%). Although Industry customers

comprised only 1.4% of the total number of
customers, they absorbed 96.68% of the total
distribution volume.
In the distribution/trading business, PGN gains revenue
through sales margin. This business segment is the
largest source of income.
PGN customers are divided into three groups:

households 87,437 customers (98.8%); commercial
1,674 customers (1.8%); and industry 1,253
Currently, PGN has 3 (three) SBUs operating

distribution/trading businesses and one SBU operating
the SSWJ transmission pipeline. The following chart
summarizes their territories:
SBU
Sales and Service Area
Sales and Service Area
SBU Distribution Area I Western Java
1. Sales and Service Area Jakarta

2. Sales and Service Area Bogor
3. Sales and Service Area Bekasi-Karawang
4. Sales and Service Area Banten
5. Sales and Service Area Cirebon
6. Sales and Service Area Palembang
SBU Distribution Area II Eastern Java
1. Sales and Service Area Surabaya-Gresik

2. Sales and Service Area Sidoarjo-Mojokerto
3. Sales and Service Area Pasuruan-Sidoarjo
SBU Distribution Area III Northern Sumatera
1. Sales and Service Area Medan

2. Sales and Service Area Batam
3. Sales and Service Area Pekanbaru
SBU Transmission Sumatera - Java
Operating Transmission Pipeline Network SSWJ I and II
Annual Report 2012
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125
Operational Review
Distribution/Trading Business Performance

In 2012, distribution/trading business activity
increased by 1.49% or 795.28 MMScfd in 2011 to
807.16 MMScfd in 2012. This increase was mainly
due to increased supply at SBU I.
5
3,
86
6
83
3,
12
11
67
3
75
43
2,
67
3
75
41
2,
2
66
72
9
39
2,
3,
78
In the last five years (2008 -2012), CAGR of distribution

volume increased 8.71% on a year on year basis.
The decline compared to CAGR 2007 - 2011 was due
to a more stable delivery of gas supply through SSWJ
Pipeline after 2008.
SBU I
SBU II
SBU III
2010
2011
2012
LENGTH OF DISTRIBUTION
PIPELINE NETWORK
10
TOTAL LENGTH OF
DISTRIBUTION PIPELINE
NETWORK
(Km)
(Km)
807.16
MMScfd
Total Distribution/Sales Volume
Annual Report 2012
energy for life
7.
5.
80
82
4.
35
The Distribution/Trading business operation

performance of each area in 2011 is as follows:
17
Operational Review
28
126
79
11
12
SBU Distribution Area I, Western Java, had a

growth in sales of 5.26% from 551.04 MMScfd
in 2011 to 580.04 MMScfd in 2012. This was
due to the surging gas volume from suppliers.
SBU Distribution Area II, Eastern Java, faced sales
that declined by 9.57% from 147.81 MMScfd
in 2011 to 133.66 MMScfd in 2012. This was
due to the decreasing supply volume from major
suppliers in East Java and to some customers
shifting to other energy sources.
10
DISTRIBUTION BUSINESS
PERFORMANCE
SBU Distribution Area III, Northern Sumatera,

faced declining sales of 3.07% from 96.42
MMSCFD in 2011 to 93.46 MMScfd in 2012. The
declining gas distribution in the area was caused
by the decreasing supply volume from Medan
Area suppliers.
(MMScfd)
GAS SALES VOLUME PER AREA

Area
2012
2011
(%)
MMScfd
Portion (%)
MMScfd
Portion (%)
SBU I
580.04
71.86
551.04
69.29
5.26
SBU II
133.66
16.56
147.81
18.59
(9.57)
SBU III
93.46
11.58
96.42
12.12
(3.07)
807.16
100.00
795.28
100.00
1.49
PGN
Total
Annual Report 2012
energy for life
127
Operational Review
Photo above
Photo below
Slug Catcher, one of components in receiving facilities

that is used to find liquids, dust dirt and other
contaminants in the gas stream.
Sum Tank, one of components in receiving facilities

used to collect the liquids carried in the gas stream.
Installed in almost all of PGN Gas Station facilities
Annual Report 2012
energy for life
128
Sbu Distribution Area I Western Java

SBU Distribution Area I, Western Java, has six sales
and service areas with a total network length of 2,433
km. These areas are Jakarta, Bogor, Bekasi-Karawang,
Banten, Cirebon and Palembang. SBU Distribution
Area I, Western Java, has successfully recorded a
distribution/trading volume growth of 5.26% in 2012.
Proportionally, the largest increase was from
commercial customers at 14.86%, followed by
industrial customers at 4.98% and households at
1.96%. The increasing gas consumption of commercial
customers was due to the increasing gas consumption
of shopping centers, hotels and other commercial
centers.
Operational Review
The increasing distribution/trading volume was also due

to the surging supply of gas fields in South Sumatera
and an additional supply from LNG Regasification of
PT Nusantara Regas (a PGN and PT Pertamina joint
venture) that started in July 2012.
GAS SALES VOLUME OF SBU I

2012
2011
(%)
Household
1.24
1.21
1.96
Commercial
18.40
16.02
14.86
Industry
560.40
533.81
4.98
Total
580.04
551.04
5.26
Customer
Note: @1,000 Btu/Scf
In terms of volume, the largest increase was from the

industrial customers. This was due to the increasing gas
consumption of manufacturing industries and power
plants of PLN, IPP and others in the industrial area.
(MMScfd)
Annual Report 2012
energy for life
129
Operational Review
SBU Distribution Area II Eastern Java
SBU Distribution Area III Northern Sumatera
SBU Distribution Area II, Eastern Java, has three

sales and service areas Surabaya-Gresik, SidoarjoMojokerto, and Pasuruan-Probolinggo; this areas total
network length is 758 km.
SBU Distribution Area III, Northern Sumatera, covers

three sales and service areas Medan, Batam and
Pekanbaru, with a total network length of 674 km.
For SBU Distribution Area II, Eastern Java, sales volume

shrank by 9.57% in 2012 compared to the previous
year.
The sales decline occurred only in the industry
segment, which had a decline of 10.30%. The sales
volume decline was due to the significant supply
decrease from one of the PGN suppliers in SBU
Distribution Area II, Eastern Java, and to consumers
shifting to other sources of energy. On the other hand,
gas supply to the commercial sector grew by 15.80%
and the supply to the household sector grew by
0.55%.
The sales volume for SBU Distribution Area III, Northern

Sumatera, declined in all customer segments, with a
total of a 3.07% decrease from 2011 sales.
This decline, particularly in the sales and service area
of Medan, was caused by the natural condition of
old gas fields. PGN maintained its coordination with
the government and with gas producers to improve
gas productivity in order to meet the demand of
households, commercial, and industrial customers in
the Medan area.
The company has struggled and will keep trying to

increase sales of SBU Distribution Area II, Eastern Java.
The rate of decline in the sales and service area of

Medan can be countered by increasing sales volume
in the sales and service area of Pekanbaru with the
increasing gas demand for oil lifting and industries in
Pekanbaru area.
GAS SALES VOLUME OF SBU II
GAS SALES VOLUME OF SBU III
5
(MMScfd)
2012
2011
(%)
Household
0.24
0.24
0.55
Commercial
4.67
4.03
15.80
Industry
128.76
143.55
(10.30)
Total
133.66
147.81
(9.57)
Customer
2012
2011
(%)
Household
0.57
0.68
(16.73)
Commercial
1.65
1.72
(4.13)
Industry
91.24
94.02
(2.95)
Total
93.46
96.42
(3.07)
Customer
(MMScfd)
Annual Report 2012
energy for life
130
Operational Review
Customer Base
PGN served 90,364 customers in 2012 of which 96.76% were households and the rest (3.24%) consisted of
commercial and industrial customers. By volume, however, industry customers absorbed 96.69% of the total
volume, while only 3.31% went to households and commercial customers.
Number of Customers
Percentage (%)
Volume of Usage
87,437
96.76
2.04
0.25
1,674
1.85
24.72
3.06
1,253
1.39
780.40
96.68
90,364
100.0
807.16
100.0
Household
Commercial
Industry
Total
NUMBER OF CUSTOMERS
NUMBER OF CUSTOMERS
Portion (%)
VOLUME CONSUMPTION
USAGE VOLUME
Household
Industry
96.76%
96.68%
Commercial
Commercial
1.85%
3.06%
Industry
Household
1.39%
0.25%
Annual Report 2012
energy for life
131
Operational Review
As PGNs customer in the power sector, PT Dalle Energy and PT Mitra Energy Batam generates electricity around 170MW
or 50% of the total electricity needs of Batam. The power industry is a sector that consumes 39% of the total sales volume
of PGNs gas industry.
Annual Report 2012
energy for life
132
Operational Review
NUMBER OF CUSTOMERs PER SECTOR

2012
2011
2010
Industry
Commercial
Household
Industry
Commercial
Household
Industry
Commercial
Household
SBU I
840
1,038
56,219
845
983
55,133
821
933
55,035
SBU II
332
96
12,187
320
93
12,084
318
91
11,676
81
540
19,031
81
564
18,950
77
568
18,615
1,253
1,674
87,437
1,246
1,640
86,167
1,216
1,592
85,326
SBU III
Total
NUMBER OF CUSTOMERs PER SBU

2012
2011
(%)
SBU I
58,097
56,961
1.99
SBU II
12,615
12,497
0.94
SBU III
19,652
19,595
0.29
Total
90,364
89,053
1.47
Customers
Adjustment of Gas Selling Price in West Java

In 2012, PGN adjusted its gas selling price for customers in West Java which was applied in accordance with the
price review from suppliers in South Sumatera.
Subsequent to the Minister of Energy and Mineral Resources letter Number. 4751/12/MEM.M/2012 regarding Gas
Selling Price Adjustment of PT PGN (Persero) Tbk, the Government allowed PGN to adjustment of its selling price
for customers of SBU I in West Java, effective September 1, 2012.
December 2012
Average Sales Price
USD 6.43/MMBTU
+ Rp.705/m3
December 2011
Equivalent: USD 8,54/
MMBTU
USD 4.79/MMBTU
Equivalent: USD 6.90/MMBTU
+ Rp.706/m3
Note: Exchange rate assumption @ Rp 9,200/USD
Annual Report 2012
energy for life
133
Operational Review
Nevertheless, the PGN selling price remained competitive compared to other non-subsidized fuel, especially high
speed diesel (HSD). During 2012, the PGN natural gas average price was only 26% of HSD (excluding delivery
charge). The gas price was also relatively stable, in contrast to the fluctuating HSD price.

COMPARISON OF OIL FUEL PRICE AND PGNS NATURAL GAS PRICE IN 2012
COMPARISON OF OIL FUEL PRICE AND PGNS NATURAL GAS PRICE IN 2012
40
HSD Unsubsidized Price

40
HSD Unsubsidized
Price
Natural Gas-PGNs
Price
HSD Unsubsidized Price
Natural
Gas-PGNs
Price
USD/MMBTU
35
Natural Gas-PGNs Price
35
USD/MMBTU
USD/MMBTU
40
35
30
Highest - HSD (Diesel) price > USD 140 per barrel in 2008
30
30
25
25
25
20
20
20
15
15
15
10
10
10
5
5
0
0
0
12
8
11
11
20
11
12
10
09
10
08
09
09
00
2/
20
20
20
20
20
20
20
20
20
20
2
/21
1/ 1
1/ 1
3/ 0
2/1
2/ 8 /6/ 8 /1/ 9 /1/ 9 /2/ 9 /3/ 0
/
/
1
/
/
/
01
2
8
6 01
301
1 01
401
01 121/2
00 10 200 1 200 4 200 10 200 3 200 8 201
0
0
0
0
01
11 01
3
/2
/2
/8
/ 8
/28
/ 9 1/ 9 2/ 0 3/2 0 3/2 1 1/2 1 1/2
/ 9
/72
/2
/2
/2
/2
/2
/2
1
0
2
6
6
7
6
5
5
/
3
2
2
2
4
1
6
3
1
1
2
1
1
1
22
0/
0/
0/
0/
/ 0
/0
/0
010/
62/00
22/00
4/ 200 10/ 200 3/ 201 8/ 201 1/ 201 6/ 201 11/ 201 4/ 201 9/
1/200
2/ 1
10/20
290
206
240
201
20 8
20 3
/
/
/21
/1
1/
3/
2/
3/
2/
2/
4/
1/
6/
3/
1/
2/
1/
1/
1/
/1
/1
/2
/1
6/
31
1/
4/
8/
6/
3/
2/
4/
1/
9/
6/
4/
1/
8/
3/
11
10
10
11
00
/2
1
3/
00
/2
1
8/
00
/2
/51
010
00
/2
/51
060
00
/2
1
016/
Natural Gas
Natural Gas
LPG-3 Kg
Natural
LPG-3
Kg Gas
(Subsidized)
(Subsidized)
LPG-12 Kg
LPG-3
LPG-12
Kg Kg
(Subsidized)
(Subsidized)
(Subsidized)
LPG-50
Kg
LPG-12
LPG-50
Kg Kg
(Subsidized)
LPG Bulk
LPGLPG-50
Bulk Kg
00
/2
2
046/
00
/2
3
096/
00
/2
4
072/
8.54
/2
2
076/
8,54
10,38
8,54
10.38
14,04
10,38 14.04
14,04
LPGMFO
Bulk
MFO
MDF/IDO (Diesel)
MDF/IDO (Diesel) MFO
17,71
17.71
17,89
17.89 17,71
17,89
21,60
21.60
21,60
HSD (Diesel)
MDF/IDO
(Diesel)
HSD
(Diesel)
27,47
27.47
29,26
27,47
29.26
30,55
29,26
30.55
Gasoline
88
Ron
HSDRon
(Diesel)
Gasoline 88
Kerosene
Gasoline
88 Ron
Kerosene
31,19
30,55
31.19
Kerosene
USD /MMBTU
31,19
USD /MMBTU
USD /MMBTU
Annual Report 2012
energy for life
134
Marketing Aspects
Market Share
Rapid growth in demand for natural gas in Indonesia,
at a time when supplies are limited, has encouraged
the emergence of natural gas traders. These traders
typically only have a Business License for Trading
Without Facilities. The number of new traders has
intensified the competition in the natural gas business
in Indonesia. In 2012, PGN controlled an 83.08% share
of the distribution market in Indonesia and 51.72%
of the transmission market (including transmission
pipeline operated by subsidiary).
Marketing Strategy
Operational Review
2. Actively sought additional gas supplies.

To meet surging demand for energy from natural
gas, PGN is actively seeking new supplies of gas.
One of the measures we took was to enter into
cooperation or sale and purchase agreements with
SOEs and regionally owned enterprises (ROEs) that
have gas contracts or allocations. Natural gas can
immediately be utilized through such synergies
because PGNs infrastructure is already in place. This
keeps costs down for SOEs/ROEs because they do
not need to allocate funds or seek loans to build
new infrastructure.
In 2011 PGN focused on improving service and

customer satisfaction. PGN took a number of actions
in 2011 to maintain and increase market share, as
follows:
Other Business Operation Segments
1. Held regular customer gatherings, sharing sessions

and visits by our Account Executives at customers
locations to listen to their complaints and input and
to deliver up-to-date information about the natural
gas business. All these activities were carried out in
all PGNs SBUs and/or Sales and Service Areas.
Fiber optic capacity leasing was performed by

PGASCOM, while construction and maintenance
service was performed by PGAS Solution. Both of these
companies are PGN subsidiaries.
The other segments in the business operation include

fiber optic capacity leasing for network provision and
construction and maintenance service.
Annual Report 2012
energy for life
135
Financial Review
Financial
Review
In 2012, there were a few important changes in the
Financial Accounting Standard and Exchange Authority
rules that affected the PGN Income Statement. Two of
the significant ones are:
A functional currency change to US Dollars (USD) in
accounting and reports
Regulation change of Bapepam-LK No. VII.G.7
Accounting And Reports Functional Currency

Conversion Into US Dollar (USD)
Starting from January 1, 2012, the Business Association
has implemented some revisions of Statement of
Financial Accounting Standards (PSAK) in Indonesia,
including the application of PSAK No. 10 (2010
Revised), Effects of Foreign Currency Change, where
a company converts its consolidated financial statement
from Indonesia Rupiah to US Dollars. Therefore,
the consolidated financial position statements from
December 31, 2011 and January 1, 2011/December
31, 2010 and the consolidated comprehensive income
statements, equity change statements and cash flows
of year ended December 31, 2012 and 2011 are
represented.
PGN transactions are mostly in USD rather than Rupiah,
applied to gas sales and purchases and other contracts
such as PGN operational facility construction
Based on the assessment conducted by PriceWaterhouse
Coopers (PWC) on December 2010, 80% of PGN
revenue is denominated in USD and 20% is in Rupiah.
At the same time, 70% of the PGN main costs are in
USD and the entire cash outflow for gas purchases is in
USD, so we can conclude that PGN functional currency
is USD.
PSAK No. 10 (2010 Revised) paragraph 21 states

that In the initial recognition, a transaction made in
foreign currency should be recorded in the functional
currency. Consequently, starting from January 1,
2012, PGN has had to deliver accounting and reporting
activity in USD.
In respect of PSAK No. 10 (2010 Revised) application,
the Company proposed a conversion on accounting
currency into US Dollars for taxation purposes. This
amendment has been authorized by the Ministry
of Finance of the Republic of Indonesia General
Directorate of Tax in Decree No. KEP-278.WPJ.19/2012
on March 20, 2012. The Ministry of Finance of
Republic of Indonesia General Directorate of Tax also
authorized PT Transportasi Gas, a subsidiary, to perform
accounting process in USD for tax purposes in Decree
No. KEP-401/PJ.42/2002 dated September 16, 2002.
Bapepam-LK Regulation No. VIII.G.7 Change

On June 25, 2012, the Capital Market and Financial
Institution Supervisory Agency (Bapepam-LK) revised
regulation No. VIII.G.7, Presentation and Disclosure
of Income Statement of Issuers or Public Company.
This regulation affects the presentation of some
accounts on the Financial Position Statement and the
Comprehensive Income Statement. Moreover, some
additional related disclosure is required to be included
in the financial statement notes.
Annual Report 2012
energy for life
136
Financial Review
The following management analysis and review, particularly sections concerning the Companys Financial
Performance, is prepared based on the PGN Consolidated Financial Statements of December 31, 2012 and December
31, 2011 (restated) and January 1, 2011 /December 31, 2010 (restated) and the year ended December 31, 2011
(restated), which are attached to this Annual Report.
The Consolidated Financial Statement of PT PGN (Persero) Tbk and Subsidiaries was audited by Purwanto, Suherman
& Surja a Certified Public Accountant firm, a member of Ernst & Young Global, with fair judgment in all matters
and referring to Financial Accounting Standards of Indonesia.
Financial Performance
2012
million USD
2011
million USD
(%)
Net Revenues
2,576.49
2,230.40
15.52
Gross Profit
1,472.39
1,341.93
9.72
Operational Income
1,018.48
898.16
13.40
890.89
680.80
30.86
24.37
21.10
15.50
Income Before (Expense) Tax
1,148.31
871.97
31.69
Tax Expense - Net
(238.37)
(177.98)
33.93
EBITDA
1,188.71
1,078.30
10.24
Remarks
Income Attributable to the Parent Company (Net

Profits)
Income Attributable to the Non Controlling
Stakeholder
Revenues
In 2012, PGN booked revenues of USD 2.58 billion, increased 15.52% from 2011. This revenues were generated
from four business segments: gas distribution, gas transportation, lease of fiber optic capacity, and construction and
maintenance services. Gas distribution contributed 91.84%, gas transmission 7.76%, lease of fiber optic capacity
0.38% and construction and maintenance services 0.02% to PGNs revenues.
Annual Report 2012
energy for life
137
Financial Review
Revenue Contribution by Business Segments

2012
Business Segment
2011
(%)
Business
Revenues
Contribution
%
Business
Revenues
Contribution
%
2,366.21
91.84
2,045.90
91.73
15.66
Gas Transportation
199.99
7.76
174.91
7.84
14.34
Optical Fiber Lease
9.80
0.38
9.38
0.42
4.56
Operational and Maintenance Service
0.48
0.02
0.21
0.01
128.57
2,576.49
100.0
2,230.40
100.0
1,552
Gas Distribution
Total
Revenues from Gas Distribution

Total revenues from gas distribution grew 15.66% to USD 2.37 billion in 2012. This was attributable to a 1.49%
rise in sales volume, from 795.28 MMScfd in 2011 to 807.16 MMScfd in 2012. Furthermore, the revenue increase
was also driven by the selling price adjustment as the result of a buying price increase from suppliers. PGNs
subsidiary, PT Gagas Energi Indonesia contributed USD 41.71 million to the total distribution revenues.
Sales volume increase was in line with PGNs ability to improve its sales volume mainly to industrial and
commercial customers.
Distribution Revenue by Customer Category

Revenues per Customer Category
2012
5
2011
(%)
million USD
Contribution
%
million USD
Contribution
%
2,310.22
97.63
2,000.12
97.77
15.50
Commerce
50.50
2.13
39.76
1.94
27.01
Household
5.49
0.23
6.02
0.29
(8.80)
2,366.21
100.00
2,045.90
100.00
15.66
Industry and Power Plant
Total
Gas distribution revenues were generated from gas sales to industry, commercial and households. Gas sales to
industry increased 15.50% to USD 2.31 billion, commercial rose 27.01% to USD 50.50 million, and households
were down 8.80% to USD 5.49 million.
Net revenues that exceeded 10.00% of the total consolidated revenues were revenues from PT PLN (Persero)
or State Electricity Company, a Government-related entity, at USD 400.06 million, or 15.53% for year ended 31
December 2012 and at USD 333.82 million, or 14.97% for year ended 31 December 2011.
Annual Report 2012
energy for life
138
Financial Review
From the total consolidated revenues, transaction with Government-related parties gave 23.64% and 23.49% for
revenues of years ended 31 December 2012 and 2011, respectively.
Adjustment of Gas Selling Price

Effective September 1, 2012, PGN adjusted its selling price to customers on an average of by 24% per MMBtu.
This was in line with the Minister of Energy and Mineral Resources Letter No. 4751/12/MEM.M/2012 dated 5 July
2012 regarding an integrated natural gas price adjustment between PGN and its suppliers. PGNs buying price
from suppliers had increased by 61% per MMBtu in average due to Governments policy to review all gas prices
in the upstream side. The price adjustment was made with due consideration of the prevailing provisions and the
purchasing power of PGNs customers.
THE COMPETITIVE ADVANTAGE

OF NATURAL GAS UTILIZATION
1 car drives through 287 Kilometer
$$$
USS8,54 for
$30,75 for 28,7 liter
1 MMBTU natural gas
non subsidy premium gasoline equivalent
5KW of electricity
Assumptions:
Per 31 December 2012 with rate Rp 9,200-/USD
1 MMBTU 27.3 m3 natural gas
1 m3 of natural gas equivalent with 1.05 liter of non subsidy premium
Annual Report 2012
energy for life
4 Houses
139
Financial Review
Impact of Gas Price Adjustment on Revenues

Gas price adjustment starting September 2012 allowed PGN to maintain relatively stable financial performance.
Revenues from Gas Transmission

Revenues from Gas Transmission in 2012 increased by 14.34% from 2011 to USD 199.99 million. This was
contributed by the increased transportation volume by 3.79% from 845 MMScfd in 2011 to 877 MMScfd in
2012, particularly as a result of transporting gas through PGNs transmission pipeline Grissik Singapore and
Grissik Duri, to Inti Daya Latu Prima, PLN Payo Selincah and swapped gas of Transgasindo.
Revenues from Lease of Fiber Optic Capacity

Revenues from the lease of fiber optic capacity through PGNs subsidiary, PT PGAS Telekomunikasi Nusantara,
increased 4.48% from USD 9.38 million in 2011 to USD 9.80 million in 2012. This resulted from increasing
fiber optic network used by existing costumers and an increasing number of new customers. This revenue was
derived from the provision of fiber optic network to customers, primarily, PT XL Axiata Tbk, PT Indosat (Persero)
Tbk, PT PGN, PT Bluewater Indonesia, PT Lintasartha, PT Indonesia Commet, PT Telekomunikasi Indonesia
(Persero) Tbk, PT Sumber Data Indonesia, PT CBN, PT Digisat, PT Matrik and PT Telkom International.
Revenues from Constructions and Maintenance Services

In 2012, PGN obtained revenues from its subsidiary, PT PGAS Solution, of USD 484.73 thousand or increased
by 128.57% from that of 2011. This was earned from the provision of construction and mainetenance services
to customers outside PGN. Revenues generated from transaction with PGN in 2012 amounting to USD 21.69
million, was eliminated through the consolidation process because they were transactions between a subsdiary
and the parent company.
5
Annual Report 2012
energy for life
140
Financial Review
Cost of Revenues
Natural Gas Purchase
2012
Customer
2011
(%)
Million USD
Contribution
%
Million USD
Contribution
%
ConocoPhilips
392.15
35.52
287.93
32.41
36.20
Pertamina
328.04
29.71
286.00
32.19
14.70
Others
383.91
34.77
314.54
35.40
22.05
1,104.10
100.00
888.47
100.00
24.27
Total
PGNs cost of revenues is the purchase price of gas from

suppliers. In 2012, the cost of revenues was USD 1.10
billion (Notes 23), up 24.27%, or USD 215.63, from
USD 888.47 million in 2011. The increase was mainly
driven by the price increase of supply in June 2012
from PHE WMO, and Pertamina EP Pagardewa as well
as ConocoPhillips SSWJ in September 2012 which was
based on the Minister of Energy and Mineral Resources
(ESDM) letter No. 5784/12/MEM.M/2012 concerning
ConocoPhillips and Pertamina EP Price Adjustment
to PGN, for industries and PLN. This increase was
also a result of the increased supply obtained from
ConocoPhillips in 2012.
Net purchases from suppliers that exceeded 10% of

the total consolidated purchases were purchases
from Pertamina, a Government-associated entity, and
ConocoPhillips, at USD 328.04 million, or 12.73%, and
USD 392.15 million, or 15.22% respectively of the total
consolidated purchase for year ended 31 December
2012 and purchases from Pertamina and ConocoPhillips
at USD 286.00 million or 12.82% and USD 287.93
million or 12.91% respectively of the total consolidated
purchase for year ended 31 December 2011.
Annual Report 2012
energy for life
141
Financial Review
Gross Profit
Gross Profit rose by 9.72% or USD 130.46 million from USD 1.34 billion in 2011 to USD 1.47 billion in 2012. As
a consequence of the price increase from ConocoPhillips and Pertamina EP which applied based on the Minister
of Energy and Mineral Resources Letter No. 5784/12/MEM.M/2012 dated 30 August 2012, concerning the Selling
Price Adjustment of ConocoPhillips and Pertamina EP to PGN for industries and PLN, PGN subsequently adjusted
its selling price to customers. The adjustment which was implemented based on Minister of Energy and Mineral
Resources Letter No. 4751/12/MEM.M/2012 dated 5 July 2012 had an effect on the Gross Profit Margin to remain
relatively stable, from 60.17% in 2011 to 57.15% in 2012.
Distribution and Transmission Expense and General and Administration Expense

2012
million USD
Contribution
%
Contribution
%
(%)
million USD
Distribution and Transmission
269.89
56.91
280.23
61.12
(3.69)
Commerce
204.39
43.09
178.26
38.88
14.66
Total
474.28
100.00
458.49
100.00
3.44
Remarks
2011
Distribution and Transmission Expenses
General and Administrative Expenses
In 2012, Distribution and Transmission Expenses

declined by 3.69% to USD 269.89 million (Notes 25)
from USD 280.23 million in 2011. This was mainly
attributable to the decreasing depreciation cost
of 3.48% to USD 174.82 million. The decreasing
depreciation cost was mainly due to the adoption of a
double declining method that resulted in a declining
depreciation cost every year. Proportionally, in 2012,
depreciation cost remained the largest component
64.77% of Distribution and Transportation Expenses.
In 2012, General and Administrative Expenses increased

by 14.66% to USD 204.39 million (Note 25) from USD
178.26 million in 2011. This increase was primarily
due to an increase in professional fee expenses by
69.74%, or USD 42.11 million. Nevertheless, employee
salary and benefit expenses remained the largest
part of General and Administrative Cost, USD 83.09
million, representing 40.66%, of the total General and
Administrative Cost, with the professional fee expenses
accounting for 20.60% of the total General and
Administrative Expenses.
Annual Report 2012
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Financial Review
Compressor station and receiving facilities in Pagardewa, South Sumatera connecting transmission pipeline Grissik-Pagardewa and
Pagardewa-Muara & Pagardewa-Bojonegara with a total length of pipeline 1,004Km.
Annual Report 2012
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Financial Review
Operating Profit
Profit Before Tax Benefit (Expense)
In 2012, the Company booked an Operating Profit of

USD 1.02 billion, an increase of 13.40% from USD
898.16 million in 2011, contributed by sales volume
increase and selling price adjustment. The price
adustment applied due to increased purchasing price,
which affected a relatively stable Profit Margin from
40.00% in 2011 to 39.87% in 2012.
Profit before Tax was increased 31.69% from USD

871.97 million to USD 1.15 billion in 2012.
Currency Gain (Loss) Net

In 2012, PGN recorded a gain on foreign exchange
of USD 49.76 million (Notes 29), while in 2011, the
Company recorded a loss of USD 26.25 million. Gain
on foreign exchange was related to appreciation or
depreciation of US Dollar towards foreign currency
particularly Japanese Yen. The USD conversion
rate against the Rupiah on 31 December 2011,
was Rp 9,068.00/USD, which stregthened to Rp
9,670.00/USD on 31 December 2012 while the
USD conversion rate against the Japanese Yen (JPY)
which was JPY 77.63/USD on 31 December 2011,
had strengthened to JPY 86.36/USD on 31 December
2012.
Gain (Loss) on Changes in the Fair Value of

Derivatives - Net
PGN booked Gain on Changes in the Fair Value of
Derivatives - Net of USD 65.10 million (Notes 28)
in 2012; this had been Loss of USD 1.31 million in
2011. Using financial derivative instruments, PGN
seeks to hedge against changes in the fair value
of liabilities from the risk of a fluctuating USD/JPY
conversion rate, in connection with the long-term
loan denominated in JPY obtained from JBIC.
This was due to the increased selling price following

increase in purchasing price from suppliers, along with
currency gain and gain on changes in the fair value
of derivatives. The Profit Margin before Tax Benefit
(Expense) rose from 39.10% in 2011 to 44.57%
in 2012.
Tax Expense Net

The Current Tax Expense increased 33.93%, from USD
177.98 million in 2011 to USD 238.37 million (Note 19)
in 2012. This increase was due to the increase in profit
before-tax as a result of increased sales volume, selling
price adjustment, currency gain and gain on changes
in the fair value of derivatives.
Increase in tax expense was also in line with Law No.7
year 1983 regarding Income Tax, which was amended
for the fourth time by Law No.36 year 2008. This
amendment covered the change in corporate income
tax rates from a progressive tax rate to a single tax
rate of 28% for fiscal year 2009 and 25% for fiscal
2010 and thereafter. The amendment went into effect
on 1 January 2009. In addition, according to Minister
of Finance Decree No. 238/PMK.03/2008 dated 30
December 2008, the Company is eligible for an
additional 5% reduction in the tax rate as an incentive
for public companies whose outstanding shares
are more than 40% owned by at least 300 public
shareholders, each of whom holds less than 5% of the
total paid up shares. Therefore, PGN paid tax at rate of
20% in 2012.
Annual Report 2012
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144
Other Comprehensive Income After Tax

Presentation of other Comprehensive Income After
Tax was aplplied following the adoption of PSAK No.
1 (2009 Revision) concerning financial statement
presentation effective 1 January 2011. Other
Comprehensive Income came from:
Assets Available for Sale

In 2012, Other Comprehensive Income After Tax from
Assets Available for Sale, ammounting to USD 7.79
million (Note 6), was a result of unrealized increase on
the change in the fair value of assets available for sale.
The change in fair value increased by 596.33% from
USD1.11 million in 2011.
Besides increase on the change in fair value, it was also
driven by purchasing of bonds from Pertamina, State
Syariah Securities (SBSN), INDON and Export-Import
Financing Institution (LPEI) in 2012. These bonds were
categorized as Assets Available for Sale.
Difference in Foreign Currency Translation of

the Financial Statements
In 2012, the difference in foreign currency translation
of the subsidiaries financial statements increased
206.48%, from USD 0.56 million in 2011 to USD
1.73 million in 2012. This increase was due to the
strengthening USD against Rupiah.
Financial Review
On initial adoption, in accordance with transitional

provision of PSAK No.24 (revised 2010), the balance of
unrecognized actuarial gains/losses on 1 January 2012
was recognized in in other components of equity in
the consolidated statement of financial position as of 1
January 2012.
Profit Attributable to Parent Company for the

Year
In 2012, Profit Attributable to Parent Company for the
year increased 30.86% to USD 890.89 million from
USD 680.80 million last year. Net Profit Margin also
improved to 34.58% in 2012 from 30.52% in 2011.
Profit Attributable to Non-Controlling

Interests for the Year
Profit Attributable to Non-Controlling Interests for the
year increased 15.50% from USD 21.10 million in 2011
to USD 24.37 million in 2012. The increase was due
to the improving financial performance of subsidiaries,
especially PT Transportasi Gas Indonesia.
Total Comprehensive Income Attributable to

Parent Company
In 2012, PGN earned Profit Attributable to Parent
Company of USD 889.69 million, an increase of
30.58% from USD 681.36 million last year.
Actuarial Loss-Net
In 2012, we experienced an actuarial loss of USD 6.83
million (Note 30). This was a result of immediate
recognition of actuarial losses of employee benefits.
Effective on 1 January 20102, PGN adopted PSAK
No.24 (Revised 2010), Employee Benefits. The
revised SAK permit an entity to adopt any systemiatic
method that results in faster recognition of actuarual
gains and losses, which among others is immediate
recognition of actuarial gains and losses in the year in
which they occur recognized in other comprehensive
income (OCI).
Annual Report 2012
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145
Financial Review
Total Comprehensive Income Attributable to Non-Controlling Interest

Profit Attributable to Non-Controlling Interests increased 17.59% from USD 21.10
million in 2011 to USD 24.80 million in 2012.
Profitability Ratio
2012
(%)
2011
(%)
Net Profit Margin
34.58
30.52
Return on Assets
30.42
31.71
Return on Equity
60.86
56.80
Ratio
Assets
In 2012, PGNs total assets valued at USD 3.91 billion, comprising 50.76% of current
assets and 49.24% of non-current assets. The Total Asset value increased USD
508.00 million or 14.94% from USD 3.40 billion in 2011. The asset growth is mainly
due to the increasing Cash and Cash Equivalent of USD 426.10 million from the
company operating income.
Composition of Current Assets

2012
million USD
Contribution
%
2011
million USD
Contribution
%
(%)
1,567.46
79.01
1,141.36
75.75
37.33
8.48
0.43
3.62
0.24
134.25
Short-Term Investment
108.29
5.46
27.28
1.81
296.96
Trade Receivables-net
258.65
13.04
219.46
14.57
17.86
Other Receivables-net
5.07
0.26
5.90
0.39
(14.07)
Inventories-net
2.45
0.12
1.97
0.13
24.37
27.98
1.41
101.74
6.75
(72.50)
0.16
0.01
(100.00)
5.45
0.27
5.27
0.35
3.42
1,983.82
100
1,506.76
100.00
31.66
Remarks
Cash and Cash Equivalent
Restricted Cash
Current Maturities of Advances

Prepaid Taxes
Prepaid Expenses
Total
Annual Report 2012
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146
Financial Review
Current Assets
PGNs current assets increased 31.66%, from USD 1.50 billion in 2011 to USD 1.98 billion in 2012, reflecting
increase in cash and cash equivalent of 37.33%, or USD 426.10 million, and the surging short-term investment
increase of 296.96%, from USD 27.28 million in 2011 to USD 108.29 million in 2012.
Cash and Cash Equivalents

Composition of Cash and Cash Equivalents
2012
million USD
Contribution
%
2011
million USD
Contribution
%
(%)
0.08
0.01
0.07
0.01
14.29
60.35
16.56
18.77
11.89
221.52
289.27
79.37
129.15
81.83
123.98
Yen
14.59
4.00
9.81
6.22
48.73
SGD
0.17
0.005
0.02
0.01
750.00
Total Bank
364.38
23.25
157.75
13.82
130.99
Cash and Bank
364.46
Remarks
Cash
Bank
Rupiah
US Dollar
157.81
TIme Deposits
Rupiah
391.48
32.54
321.75
32.71
21.67
US Dollar
811.52
67.46
661.80
67.29
22.62
Total Time Deposits
1,203.00
76.75
983.55
86.17
22.31
Total Cash and Cash Equivalent
1,567.46
100.00
1,141.36
100.00
37.33
Annual Report 2012
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147
Financial Review
Currency Composition of Cash and Cash Equivalents

2012
million USD
Contribution
%
2011
million USD
Contribution
%
(%)
451.91
28.83
340.58
29.84
32.68
1,100.78
70.23
790.95
69.30
39.17
Yen
14.59
0.93
9.81
0.86
48.73
SGD
0.17
0.01
0.02
0.00
750.00
Total
1,567.46
100
1,141.36
100
37.33
Remarks
Rupiah
Dollar
Since the Company was not required to pay

an interim dividend and the operating income
increased in 2012, the Cash and Cash Equivalents
increased 37.33%, from USD 1.14 billion in 2011
to USD 1.57 billion (Notes 4) in 2012. The Cash
and Cash Equivalents consisted of Cash and Bank
Accounts amounting to USD 364.38 million and
Cash Equivalents of USD 1.20 billion in the form
of unrestricted Time Deposits. The composition of
Cash and Cash Equivalent was 28.83% denominated
Rupiah, 70.23% in USD, 0.93% in Yen, and 0.01%
in SGD. The Cash Equivalent in the form of Time
Deposits were placed in a number of domestic and
foreign banks,with 67.46% denominated in USD and
32.54% in Rupiah. The average rate of USD time
deposits ranged between 0.12% and 2.15%, while
the Rupiah deposit rate was 4.00% - 7.25%.
Restricted Cash
Restricted cash grew 134.25%, from USD 3.62
million in 2011 to USD 8.48 million (Notes 5) in
2012. The surge was largely a result of PGNs escrow
account of restricted time deposits at Bank Mandiri
and BNI, in connection with gas sale and purchase
agreement between subsidiary, PT Gagas Energi
Indonesia with PT Nugas Energy (NUGAS), PT Gresik
Migas, PT Sarana Indo Energy and PT Taruko Energy.
Annual Report 2012
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Financial Review
Short-Term Investment
In 2012, the short-term investment valued at USD 108.28 million (Note 6), or an increase of 296.96% from
last years USD 27.28 million. This was the result of PGNs investment in the financial assets in the form of
bonds from Pertamina, INDON, Indonesia Export Financing Institution (LPEI) and State Syariah Securities
(SBSN). These assets were recorded in the category of Assets Available for Sale. The fair value of purchased
bonds as of 31 December 2012, was as follows:
Rp
Equivalent USD
USD
Total USD
72,739,740.00
72,739,740
Antam
27,176,037,794
2,810,345.17
2,810,345
Perum Pegadaian
20,678,231,300
2,138,390.07
2,138,390
SBSN
4,165,800
4,165,800
INDON
16,024,902
16,024,902
100,634,307,190
10,406,856.83
10,406,857
Remarks
Pertamina
Lembaga Pembiayaan
Ekspor Indonesia
Total
108,286,034
The fair value of purchased bonds as of 31 December 2011 was as follows:

Rp
Equivalent USD
USD
Total USD
16,468,640.00
16,468,640
Antam
25,168,252,136
2,775,501.76
2,775,502
Financial Institutions
19,999,927,400
2,205,550.01
2,205,550
Export Indonesia
52,833,505,024
5,826,368.45
5,826,368
Remarks
Pertamina
Total
27,276,060
Annual Report 2012
energy for life
149
Financial Review
These bonds will always be revalued at their fair value for each reporting period, in accordance with PSAK No.50
(Revised 2010) and PSAK No.60 regarding presentation and disclosure of Financial Instruments. For 2012, the
unrealized increase on the change in fair value of the securities available for sale was USD 7.79 million, which
was reflected in the other comprehensive income for the year. The change in fair value increased 596.33%, from
USD1.11 million in 2011.
Trade Receivables Net

Trade Receivables Net increased 17.86%, from USD 39.19 million in 2011 to USD 258.65 million (Note
7) in 2012. Gas Distribution accounted for 87.95% of Trade Receivables Net, followed by 10.58% from
Gas Transmission, and 1.47% from Lease of Fiber Optic Capacity. Meanwhile, total Trade Receivables Net
denominated in USD for distribution, transmission and lease of fiber optic capacity were USD182.46 million,
USD26.76 million and USD1.95 million, respectively. During the year, the Company allocated USD 13.68 million
as an allowance for impairment losses, having implemented PSAK 50 (Revised 2010) and PSAK 60 regarding
Presentation and Disclosure of Financial Instruments. This allowance for impairment losses was largely from gas
distribution, to cover potential losses on uncollectible receivables. In 2012, the allowance for impairment losses
increased 10.52% from 2011, due primarily to uncollectible receivables.
Current Maturities of Advances

Current Maturities of Advances declined 72.50% from USD 73.76 million in 2011 to USD 27.98 million (Note 10)
in 2012, due to the reclasiffication of take or pay advances of USD 76.69 million in 2012 to non current assets.
Until 2012, the Company has taken make up gas from take or pay advances of USD 67.58 million.
Non Current Assets
Composition of Non Current Assets

2012
million USD
Contribution
%
2011
million USD
Contribution
%
(%)
110.92
5.76
81.08
4.28
36.80
Deferred tax assets-net
38.26
1.99
20.79
1.10
84.03
Investment in shares of stock
65.95
3.43
45.00
2.38
46.56
1,693.76
88.02
1,733.53
91.56
(2.29)
10.34
0.54
9.80
0.52
5.51
Deferred charges-net
2.89
0.15
1.23
0.06
134.96
Others
2.22
0.12
1.99
0.11
11.56
1,924.34
100.00
1,893.42
100.00
1.63
Remarks
Advances-net of current maturities
FIxed Assets-Net
Estimated claims for tax refund
Total
Annual Report 2012
energy for life
150
Financial Review
Non-current assets increased1.63% from USD 1.89

Fixed Assets Net
billion in 2011 to USD 1.92 billion in 2012. This was
Fixed Assets - Net declined 2.29%, from USD 1.73
due to the increasing participation investment in
billion in 2011 to USD 1.69 billion (Note 13) in 2012.
Subsidiaries and increasing Advance Net Current
This was mainly due to the adoption of the Double
Maturities as the results of reclassification of take or pay Declining Method.
advances of Pertamina EP of USD 76.69 million.
Advances Net of Current Maturities

At the end of 2012, take or pay advances of USD
110.92 million (Notes 10), consisiting of USD 27.05
million to ConocoPhillips and USD 76.69 million to
Pertamina EP Pagardewa rose USD 29.85 million from
2011 due to Pertamina EP reclassification of take or pay
of USD 76.69 million from Current Assets and makeup gas of USD 19.46 million from ConocoPhillips. The
make-up gas will be calculated in the ConocoPhillips bill
to PGN.
Participition in Subsidiaries and Affiliates

In 2012, the company made an additional investment of
Rupiah 113.08 billion (USD 12.23 million) (Note 12) in
PT Nusantara Regas, representing PGNs 40% ownership
in the affiliated entity.
Estimated Income Tax Claims

Estimated income tax claims of USD 10.34 million for
2012 mainly as a result of tax overpayments in 2011
amounting to Rp87.17 billion. This was due to a large
tax installment and the declining profit after tax in
2011. Until end of 2012, a tax audit was underway to
resolve the overpayment of tax.
Liabilities
Total Liabilities at the end of 2012 stood at USD 1.55
billion, 30.43% of which were Current Liabilities and
69.57% Non Current Liabilities. The Total Liabilities
increased USD 32.55 million or 2.14% from USD 1.52
billion at the end of 2011. This was largely attributable
to an increase of liabilities for gas purchases of USD
127.98 million or 209.29% at year end despite a
decrease in long-term liability of USD 153.98 million or
15.49% at end of 2011.
Annual Report 2012
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151
Financial Review
Current Liabilities
Composition of Current Liabilities
2012
million USD
Contribution
%
2011
million USD
Contribution
%
(%)
Business Payables
189.13
40.01
61.15
22.33
209.29
Accrued Liabilities
42.26
8.94
38.23
13.96
10.54
Liabilities Short-Term Employee

Benefits
37.30
7.89
34.04
12.43
9.58
Other Payables
24.80
5.25
20.78
7.59
19.35
Taxes Payable
80.63
17.06
21.39
7.81
276.95
Current Maturities of Long-Term Loans
98.63
20.86
98.26
35.88
0.38
472.75
100.00
273.85
100.00
72.63
Remarks
Total
Current Liabilities increased 72.63% from USD

273.85 million in 2011 to USD 472.75 million in
2012. The Current Liabilites composition was Trade
Payables 40.01%, Accrued Liabilities 8.94%,
Short-Term Employment Benefits 7.89%, Other
Payables 5.25%, Tax Payables 17.06%, and
Current Maturities of Long-Term Loans 20.86%.
The Current Liabilities increased USD 198.90 million,

or 72.63%, due to increased purchase volume from
ConocoPhillips and Pertamina as well as the increased
buying price of PHE WMO in June 2012, Pertamina
EP Pagardewa and ConocoPhillips SSWJ in September
2012, which was based on Minister of Energy and
Mineral Resources letter No. 5784/12/MEM.M/2012
dated 30 August 2012 concerning Price Adjustment of
ConocoPhillips and Pertamina EP to PGN for Industries
and PLN.
Annual Report 2012
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152
Financial Review
Non Current Liabilities

Composition of Non Current Liabilities
2012
million USD
Contribution
%
2011
million USD
Contribution
%
(%)
0.65
0.06
2.58
0.21
(74.90)
87.12
8.06
178.32
14.30
(51.14)
Long Term Loans-Net of Current

Maturities
840.00
77.73
993.98
79.71
(15.49)
Long-Term Liabilities for Employee

Benefits
149.50
13.83
68.58
5.50
117.99
3.35
0.31
3.51
0.28
(4.56)
1,080.62
100
1,246.97
100
(13.34)
Remarks
Deferred Tax Liabilities-net
Derivative Payable
Unearned income
Total
Non Current Liabilities decreased USD 166.35 million, or 13.34%, from USD 1.25 billion in 2011 to USD 1.08
billion in 2012, due to payment of JBIC loan of USD 68.02 million and payment of HSBC loan of USD 51.74
million. Non Current Liability of USD 1.08 billion is comprised of 77.73% Long-Term Loans Net of Current
Maturities, 8.06% Derivative Payables, and 13.83% Long-Term Liabilities of Employee Benefits.
Equity
2012
million USD
Contribution
%
2011
million USD
Contribution
%
(%)
344.02
14.61
344.02
18.31
(0.25)
(0.01)
(0.25)
(0.01)
192.56
8.18
192.56
10.25
1,742.27
73.99
1,229.20
65.41
41.74
Difference Restructuring Transactions
(35.30)
(1.50)
(35.30)
(1.88)
Other Equity Component
(45.95)
(1.95)
1.80
0.10
(2,652.78)
Non-Controlling Interests
157.45
6.69
147.33
7.84
6.87
2,354.79
100
1,879.36
100.00
25.30
Remarks
Share Capital
Treasury Shares
Other Paid-In Capital
Retained Earnings
Total
Annual Report 2012
energy for life
153
Equity grew 25.30%, or USD 475.44 million, from

USD1.88 billion in 2011 to USD 2.35 billion in 2012.
This was due primaily to an increase in retained
earnings as a result of Profit Attributable to the
Parent Company for the year.
Financial Review
Cash Flows from Investment Activities
Other components of equity were actuarial gains or

losses, difference in foreign currency translation of
the Subsidiarys Financial Statements and fair value of
assets available for sale
Cash Flows used for investment activities surged

124.88%, or USD 138.99 million, from USD 111.30
million to USD 250.29 million in 2012. This was
mainly attributable to increasing investment in fixed
assets by 103.73%, or USD 81.11 million, and the
increasing investment of 1,131.72% or USD 67.83
million in the bonds of Pertamina, INDON, Export
Financing Institution of Indonesia (LPEI) and State
Shariah Securities (SBSN).
Cash Flows
Cash Flows from Financing Activities
The Companys Cash and Cash Equivalents position

in 2012 grew 37.33%, or USD 426.10 million from
USD 1.14 billion in 2011 to USD 1.58 billion in 2012.
Despite purchasing bonds, increase in Cash and Cash
Equivalents was mainly driven by increased operating
income and the absence of an interim dividend
payment.
In 2012, Cash Flow used for financing activities fell

48.73%, or USD 437.52 million, from USD 897.78
million in 2011 to USD 460.26 million in 2012, which
was mainly due to the absence of interim dividend
payment and the long-term loan payment that
declined by 80.47%, or USD 335.17 million.
Cash Flows from Operating Activities

Cash Flows from operating activities grew 23.13%,
or USD 219.15 million, from USD 947.27 million
to USD 1.17 billion in 2012, mainly due to the
increasing gas sales volume from 795.28 MMScfd in
2011 to 807.16 MMScfd in 2012 and the application
of a selling price hike in accordance with the Minister
of Energy and Mineral Resources letter No. 4751/12/
MEM.M/2012 dated 5 July 2012 concerning Selling
Price Adjustment of PT PGN (Persero) Tbk.
On the other hand, the buying price from PHE WMO
increased in June 2012, followed by Pertamina EP
Pagardewa and ConocoPhillips SSWJ in September
2012 which referred to Minister of Energy
and Mineral Resources Letter No No. 5784/12/
MEM.M/2012 concerning the price adjustment
of ConocoPhillips and Pertamina EP to PGN for
Industries and PLN.
Liquidity
At the end of 2012, PGNs liquidity remained strong
with cash and cash equivalents value of USD 1.57
billion with a current ratio of 419.63%. The Total
Cash and Cash Equivalent exceeded total long-term
loans.
Annual Report 2012
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Financial Review
Solvency
On December 31, 2012, PGN recorded Total Cash and Cash Equivalents exceeded total long-term loans.This
was in line with the improving solvency reflected in the decline of in Debt to Equity ratio from 0.58 in 2011 to
0.40 in 2012, indicating an increase in the portion of the Companys financing from internal sources compared
to external financing. EBITDA/(Interest Expense + Principle) ratio increased to 11.55 in 2012 from 2.43 in 2011
as the result of corporate action to settle some of its long-term loan in 2011. This indicated PGNs strengthening
solvency.
2012
2011
0.40
0.58
EBITDA/Interest Expense (x)
55.09
38.91
EBITDA/Interest Expense + Principal Loan (x)
11.55
2.43
Ratio
Payable Ratio to Equity (x)
Net Payablet/EBITDA (x)
Collectibility
At the end of 2012, the Companys collection period remained relatively stable from 36 days in 2011 to 37 days
in 2012. This reflected Managements capability of managing trade receivables to customers.
Capital Structure
Following is the capital structure of PGN at the end of 2012:
2012
Remarks
2011
(%)
Million USD
Contribution
%
Million USD
Contribution
%
Total Long-Term Loan
938.64
28.50
1.092.24
36.76
(14.06)
Maturities in One Year
98.63
10.51
98.26
9.00
0.38
840.01
89.49
993.98
91.00
(15.49)
Equity
2,354.79
71.50
1,879.36
63.24
25.30
Total Invested Capital
3,293.43
100.00
2,971.59
100.00
10.83
Long Term
Annual Report 2012
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155
The capital structure above indicated a debt to equity

ratio of 0.40 in 2012, an improvement from 0.58 in
2011 in line with increasing internal financing.
Managements Policy on Capital Structure

The Companys policy on capital structure is to
maintain a debt ratio that matches (i.e. does
not exceed) the financial covenant in PGNs loan
agreement with the European Investment Bank (EIB),
i.e. debt to equity ratio of 66% : 33%.
Material Commitments Related to Capital

Investment
In 2012, PGN had material commitments with a
number of contractors in relation to the construction
of FSRU in Lampung which were denominated in
Rupiah and USD. The currency for project financing
is consistent with the currency used to fulfill PGNs
obligations to the contractors of the projects
concerned, which are funded by PGNs internal
resources.
To mitigate the risks related to foreign currencies,
PGN adjusted the currency used to fulfill its
obligations to the contractors with the currency used
in the contract agreement to avoid foreign translation
loss.
Material Information on Facts Subsequent

to the Accountants Report Date
On 18 February 2013, PT Saka Ketapang Perdana
(SKP), a subsidiary of Saka Energi Indonesia,
received an agreement letter from the Republic
of Indonesia General Directory of Oil & Gas for its
20% participating interest in Ketapang Block from
Sierra Oil Services Limited. The block is operated by
Petronas Carigali and will produce 25,000 barrel oil
per day and 50 MMSCFD of natural gas in its peak
phase.
Financial Review
Business Prospect
PGNs business prospects in 2012 are wide open,
despite the economic slowdown in the rest of
the world, particularly in Europe and the US. As
an energy company in the natural gas utilization
business, the prospects for PGN will improve
alongside with economic growth. Indonesias
economic growth is projected at 6.6% - 6.8% (based
on the 2013 state budget assumption). Investment
flows are expected to accelerate in the wake of
Indonesias upgrading to investment grade in recent
assessments by Moodys and Fitch.
Economic growth in Indonesia is set to accelerate
with the planned development and improvement
of infrastructure set out in the MP3EI. PGN has an
important role in supporting this program through
the planned expansion of natural gas distribution
network coverage, either through pipelines or other
modes of transportation, which is expected to be
able to meet the energy needs of the industry,
commercial, and household sectors.
According to data from the Ministry of Energy and
Mineral Resources, Indonesia has proven reserves of
natural gas of 104 TSCF and potential reserves of
48 TSCF, making a total natural gas reserve of 152
TSCF. This reserve is even bigger if non conventional
sources of natural gas such as CBM, shale gas
and bio gas are taken into account. Reserves of
natural gas from CBM, based on BP Migas data, are
estimated at 453.3 TCF. All of this points to a massive
opportunity for the natural gas industry in Indonesia.
Annual Report 2012
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156
Financial Review
These abundant natural gas reserves and the enforcement of domestic market obligation
represent an opportunity to secure supplies of natural gas for PGNs customers. PGN has
developed a number of strategies to guarantee supplies of natural gas such as investing
in minority participation interests in upstream, developing LNG Receiving Terminals, and
establishing subsidiaries to expand the gas trading business. Technological developments
in exploiting natural gas from non conventional sources such as CBM are also being
explored in the interests of increasing security of supply.
Another opportunity for PGN is the projected increase in LNG supplies from neighboring
countries. Moreover, gas production in the US has increased sharply since production
of shale gas began along with LNG Liquefaction Plant development projects in the
region. The opportunity is likely to lead to the connectivity between market and price
convergence of LNG. This will support PGNs plan to secure LNG-sourced supply.
In the context of reducing fuel and electricity subsidies, reducing CO2 emissions and
lessening the countrys dependence on crude oil imports (Indonesia is currently a net
importer of oil), as well as Indonesias abundant reserves of natural gas, the improving
competitiveness of domestic industry, and the prospect of substantial LNG supplies on
the international market, demand for natural gas in Indonesia in 2013 and beyond looks
certain to surge, making the prospects for the Company very promising indeed.
Annual Report 2012
energy for life
Gas Pipeline Infrastructure

Our operations as a gas provider company principally
involve the transportation of natural gas from the
receipt point to the delivery point. Gas pipelines
operate optimally when there are regulation and
monitoring facilities, including metering stations,
regulating stations, metering and regulating stations,
SCADA, communications systems and other facilities.
Our pipeline network operations are divided into the
transmission network system and the distribution
network system. A transmission network system
typically comprises one or more pipeline segments,
usually connected to each other through a network,
which transports gas from a gathering system, a
gas processing plant outlet or a storage system
to a high or low pressure distribution system,
premium customers or other storage systems. The
Company currently operates two transmission
pipeline networks: the Medan (Wampu Belawan)
transmission pipeline system and the South Sumatra
West Java (SSWJ) transmission pipeline system. The
Medan transmission pipeline network services two
shippers (customers), Pertamina EP and PLN, by
transporting their gas from Wampu to Secanang,
Belawan.
The SSWJ transmission pipeline network has been
used to transport gas from Conoco Phillips in Grissik,
Pertamina EP and Medco in Pagardewa to West Java
and to PLN Talang Duku in Palembang. The SSWT
network has also tranported swapped gas from
Grissik field to PLN Muata Tawar (through delivery
point at Muara Bekasi)
157
Financial Review
A distribution system is one or more segments of a

pipeline network that transports gas from the delivery
point or storage system to the customer, including
a power station, industry, commercial operation or
household.
Pipeline Network Development Plans

To strengthen network reliability and gas
transportation to customers, and to anticipate
supplies and prepare operational support facilities,
the Company has invested in developing the pipeline
network and supporting facilities as well as other
transportation modes in SBU I West Java, SBU II
East Java, SBU III North Sumatra, SBU Transmission
Sumatra Java, the Natural Gas Transmission Pipeline
Development Project, the Natural Gas Distribution
Pipeline Development Project, and the LNG Project.
In West Java, in anticipation of the planned flow of
LNG from Nusantara Regas in 2012 and of LNG from
Lampung at early 2015, PGN made preparations
for the construction of a Muara Karang - Muara
Bekasi pipeline and a Bitung Cimanggis pipeline.
The pipelines are also designed to serve as a reliable
backbone for the West Java pipeline network. For
Lampung, PGN will develop distribution pipeline
network to expand market in the area along PGNs
transmission pipeline.
In East Java, PGN will also expand a distribution
pipeline network. The expansion is aimed at
strengthening the network reliability for the existing
area and opening a new market which is close to
PGNs gas pipeline network and absorbing the oversupply gas in East Java.
Annual Report 2012
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158
Financial Review
Business Development
LNG Receiving Terminal
To accelerate the achievement of our vision of becoming a

world class energy company in natural gas utilization, PGN
has formulated its long-term strategic plan 2010-2020 and
Corporate Business Plan 2010-2014 which include strategic
measures and business development target.
The LNG receiving terminal in Lampung is developed to

meet natural gas demand in Lampung, West Java and the
surrounding area for indutry, electricity, commercial and
households. The Company is now entering a phase of
getting supplies from domestic and international sources,
also focussing on meeting the market demand. PGN LNG
will be the operator of the LNG terminal. All processes and
construction is aimed at supporting PGNs core business.
Significant progress was made in 2012, including AMDAL,
Detail Engineering Survey and the construction of the
FSRU. All facilities are expected to begin operations
in 2014.
PGNs strategic initiatives to meet the growth in demand

for natural gas include building LNG Receiving Terminals
in Lampung through subsidiary PT PGN LNG Indonesia.
To support the security of supply, PGNs subsidiary in
upstream side PT Saka Energi Indonesia involved in
minority participating investment in conventional and nonconventional block. Distribution will be expanded into new
areas such as Bandung, Lampung, Dumai and Semarang.
PGN through its subsidiary will also expand its distribution
coverage, and will develop CNG business in remote areas
and mini LNG in area beyond PGNs pipeline network. PGN
will also explore the potential of the power plant business
to deliver added value to our natural gas exploitation
activities.
PGNs strong financial position will support our investment
in developing these planned businesses, which will support
the growth of the Company and create value for the
shareholders and other stakeholders.
Upstream Minority Investment

PGNs pipeline network development is beyond
downstream and midstream business. Its commitment to
participating in minority ownership in conventional and
unconventional hydrocarbon resources is the evidence
that PGN supports national energy security. Through its
subsidiary, PT Saka Energi Indonesia, PGN also finalized
agreement on Participating Interest in Ketapang PSC,
which is expected to start producing oil and gas in
2014. Saka also owns minority Participating Interest at
CBM Lematang Block, South Sumatra. Its commitment
to unconventional gas development also appeared by
participating in domestic Shale Gas Joint Studies with local
and international companies.
Annual Report 2012
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159
Financial Review
Gas Trading
Power Plant
PGN has started the development of gas trading

businesses along the natural gas value chain through
cooperation with regional government-owned companies
(BUMD) and other gas traders in order to support
the supply and transportation of gas. This business is
being developed by PGNs subsidiary, PT Gagas Energi
Indonesia.
PGN will enter the electricity supply business as part

of PGNs strategy to secure gas supplies and increase
the value-added in natural gas utilzation. The power
generation business will be developed by PT Gagas
Energi Indonesia.
Mini LNG
PGN will build and operate small-scale LNG terminals in
Eastern Indonesia and other areas that are beyond the
reach of PGNs gas pipeline network to meet the demand
for gas in those areas. The business will be developed by
PGN LNG. Currently, PGN LNG is preparing cooperation
with other companies such as Shell to develop a Mini
LNG Facility in East Java.
City Gas Distribution

PGN is developing city gas distribution networks in a
number of major cities in Indonesia. This development is
intended to meet gas demand for electricity generation,
small-scale industry, and the commercial, transportation
and houshold sectors. PGNs subsidiary, PT Gagas
Energi Indonesia will be the main operator for this
development. The city gas development is aligned and is
intended to support Directorate General Migas program
regarding city gas development.
Inland CNG
PGN will develop inland CNG and procure equipment
for transporting CNG overland to meet gas demand for
industry and BBG (gas fuel) purposes in areas beyond
the existing natural gas distribution pipeline network.
The Governments policy on converting vehicles from
petroleum-based to BBG offers an opportunity for PGN
to develop inland CNG in areas that are not covered
by the natural gas pipeline network. This program and
business scheme is being developed by PGNs subsidiary,
PT Gagas Energi Indonesia.
Annual Report 2012
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160
Financial Review
Achievement of 2012 Target

Corporate Work
and Budget Plan
2012
Realization 2012
%
Achievement
2,939.56
2,576.49
87.65
Operational income (in million USD)
863.67
1.018.48
117.92
Volume (BBTUD)
821.50
807.16
98.25
No
Description
Net Revenues (in million USD)
II
III
PGNs revenue in 2012 was 87.65% of the target due

to delays of gas supply from LNG Nusantara Regas in
SBU I and gas supply ex Terang Sirasun field.
Operating profit in 2012 was 117.93% of the target,
resulted from efficiency in operating expenses and cost
of revenues.
Sales volume in 2012 was 98.25% due to some delays
in gas supply delivery from the suppliers.
Next Year Target

Business revenues in 2013 are expected to increase
in line with the volume increase of sales volume of
5% - 10% from 2012 realization. Additional volume
supply will come mostly to SBU I, with sources from
ConocoPhillips and Gajah Baru while the application
of new selling price will be effective since April 2013
in accordance with the Minister of Energy and Mineral
Resources Letter No. 4751/12/MEM.M/2012 dated
5 July 2012 regarding the adjustment of gas selling
price of PT PGN (Persero) Tbk due to the impact of
purchase price increase.
In 2013, PGNs operating profit is estimated to remain
stable with net profit margin of 20% 25 %.
Annual Report 2012
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161
Financial Review
Dividend Policy
Use of IPO Proceeds
The IPO prospectus states that PGNs policy on

dividends is to pay 50% of the net income. However,
in the last 2 years, the average dividend payout ratio
has been 60%. In 2012, the Shareholders, through the
AGMS for fiscal year 2011 dated 22 May 2012, decided
to pay a cash dividend of Rp 3,263,184,778,516.- or
55% of the net income, which was broken down into
an interim dividend of Rp 10.87,- per share paid on
13 December 2011 and a final cash dividend of Rp
123.75 per share, paid on 29 June 2012, bringing the
total final cash dividend paid out for fiscal 2011 to Rp
134.62 per share.
The Company listed its shares on the Indonesia Stock

Exchange on 15 December 2003. The net proceeds
from the IPO, amounting to Rp 1,163.3 billion, have
been used entirely to finance the construction of the
natural gas transmission pipeline network, and in
particular the South Sumatra-West Java section, which
was completed in August 2008.
Net Income (in Million Rp)

Dividend Percentage
Dividend Pay-out
(in Million Rp)
Dividend per Share
(in million Rp)
2012
2011
5,933,063
6,239,361
55%
60%
3,263,185
3,743,617
134.62*
154.44*
*Total Cash Dividend
Investment, Expansion, Divestment,

Acquisition or Restructuring of Debt/Capital
Involving Conflict of Interest and Transactions
with Affiliated Parties
Transactions with Affiliated Parties
Transactions with Related Parties (Affiliates) in 2012
were:
1. On 1 March 2012, PGN made an additional Rp 49.9
billion investment in the shares of its subsidiary
PT PGAS Solution
2. On 1 March 2012, PGN made an additional Rp
113.0 billion investment in the shares of its affiliate
(PT Nusantara Regas).
3. On 26 June 2012, PGN established a subsidiary
PT PGN LNG Indonesia and paid in capital
amounting to Rp 375.0 billion to PGN LNG
Indonesia.
4. PGN was involved in transactions with its subsidiary
PT Gagas Energi Indonesia in the form of a
shareholders loan worth USD 5.8 million
Annual Report 2012
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162

PT Saka Energi Indonesia in the form of a
shareholders loan worth Rp 36 billion
PT PGASKOM in the form of shareholders loan
worth Rp 25 billion
PT Nusantara Regas in the form of shareholders
loan worth Rp 164 billion and settled on December
2012
8. PGN used the telecommunications network capacity
of its subsidiary, PGASCOM.
9. PGN used the services of its subsidiary (PGAS
Solution) to undertake works in SBU I, SBU II, SBU
III, and SBU TSJ.
All the transactions above were conducted fairly, in
line with normal business practice.
Financial Review
Changes in Regulation
Regulation concerning Presentation and Disclosure
of Financial Statements of Public Company
Bapepam-LK Regulation No. VIII.G.7
On 25 June 2012, Capital Market Supervisory Agency
and Financial Institution (Bapepam-LK) revised the
regulation No.VIII.G.7 concerning Presentation and
Disclosure of Financial Statements of Public Company.
This regulation impacted the presentation of some
accounts in the Statements of Financial Position
and Comprehensive Income Statements. Additional
disclosure is also required to be included in the notes
to the financial statements.
Regulation concerning Business License and

Special Right
1. Special Right for SSWJ I Transmission Pipeline
Decree of Head of BPH Migas No.02/KT/BPH
MIGAS/KOM/2012 dated 23 April 2012 regarding
Awarding Special Right for Natural Gas
Transportation through Pipeline on transmission lane
of Pertamina Receiving Point in Pagardewa (South
Sumatera) - Bojonegara (Banten), to PT Perusahaan
Gas Negara (Persero) Tbk.
2. Presidential Regulation No. 64 year 2012
On 14 June 2012, the Government issued
Presidential Regulation regarding the provision,
distribution and determination of fuel price for
transportation. The issuance of this regulation
was aimed at securing the national energy supply
particularly in the form of compressed natural gas
for transportation.
Annual Report 2012
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163
Regulation concerning the Operation of

Pipeline Network
Regulation of Energy and Mineral Resources Minister
No. 2700K/11/MEM/2012 concerning Masterplan of
National Gas Distribution and Transmission Pipeline
Network 2012-2025.
Change of Regulation Subsequent to

Dissolution of Upstream Oil and Gas Agency
(BPMigas)
Financial Review
Changes in Accounting Policy

The accounting policies applied in the preparation of
the consolidated financial statements for 2012 are
consistent with the accounting policies used in the
preparation of the consolidated financial statements
or the year ended on 31 December 2011, except for
the application of a number of Financial Accounting
Standards that were revised and came into effect on 1
January 2012.
On 13 November 2012, the Constitutional Court

deemed BPMigas to be unconstitutional through its
verdict No. 36/PUU-X/2012. Almost all PGNs contracts
with suppliers were under BP Migas approval.
Nonetheless, the Government issued Presidential
Regulation No.95 year 2012 stating that all signed
contracts with BP Migas remain valid until their
contract periods terminate.
Transfer of Authorities from Bapepam-Lk to

the Financial Service Authority (OJK)
Effective 31 December 2012, the Financial Service
Authority (OJK) which was established based on Law
No.23 year 1999 regarding Bank Indonesia, began
taking over supervisory functions for the Capital
Market Supervisory Agency (Bapepam LK).
Even though authoritiy was transferred from BapepamLK to OJK, supervision on the financial sectors and
capital markets was basically the same. PGN still
complies to the capital market regulation which
previously set up by Bapepam-LK.
Annual Report 2012
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164
Forward Looking Statements
FORWARD-LOOKING STATEMENTS
This annual report contains statements that are
in the future. Readers of this annual report are
considered as a forward-looking statements that
cautioned that forward-looking statements are not
relate to future events, which are, by their nature,
guarantees of future performance of the Company
subject to significant risks and uncertainties. All
and actual results may differ materially from those
statements, other than statements of historical
stated, projected, anticipated or assumed in the
fact contained in this annual report, including,
forward-looking statements. Important factors
without limitation, those regarding our future
that could cause the actual results, performance or
financial position and results of operations, strategy,
achievements of the Company to differ materially
plans, objectives, goals and targets, including with
from those in the forward-looking statements
respect to expansion, dividend payments, and any
include, among others, the following:
statements preceded by, followed by or that include
Changes in laws and regulations in Indonesia,
the words believe, expect, aim, intend,

will, may, project, estimate, forecast,
target, anticipate, predict, seek, should
or similar words or expressions, are forward-looking
statements.
either directly or indirectly, will affect the

Companys operation;
Changes in government policies in the areas of
oil and gas;
The economic conditions nationally, regionally
or globally affecting economic activity or
The future events referred to in these forwardlooking statements involve known and unknown
disturbances of the market due to global factors;

Changes due to inflation, changes due to
risks, uncertainties and other factors, some of
differences in interest rates, or changes due
which are beyond the Companys control, which
to the difference in exchange rates of foreign
may cause the actual results, performance or

achievements, or industry results to be materially
currencies;
And others (if there are any other matters
different from any future results, performance or
related to PGNs industry which can influence
achievements of the Company that are expressed
the forward-looking statements in the annual
or implied by these forward-looking statements
report.)
in this annual report. These forward-looking

statements contained in this annual report are
based on numerous assumptions regarding our
present and future business strategies and the
environment in which the Company will operate
Annual Report 2012
energy for life
6
Good Corporate
Governance
Annual Report 2012
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Annual Report 2012
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167
Good Corporate
Governance
Enhancing corporate
management quality by
applying good corporate
governance principles is
a key priority for PGN
State Officials
Wealth Report
is mandatory for all
management levels, from
supervisors upwards
Annual Report 2012
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168
Corporate Governance Structure

Pursuant to Law 40 year 2007 regarding Limited Liability Companies, the organs of the Company are the General
Meeting of Shareholders (GMS), the Board of Commissioners and Board of Directors. These Corporate organs play a
pivotal role in the successful implementation of GCG. The corporate organs carry out their functions in accordance with
the legal provisions, the Companys Articles of Association and other provisions on the fundamental principle that each
organ is independent in the fulfillment of its duties, functions and responsibilities for the interests of the Company.
PGNS CORPORATE GOVERNANCE
General Meeting
of Shareholders
Corporate Bodies
Board of Directors
Corporate Secretary
Supporting Bodies
Internal Auditor (SPI)

Risk Management
Investor Relations
Audit Committee
Risk Management
and Business Expansion
Monitoring Committee
Corporate Social
Responsibility
Corporate Governance
Annual Report 2012
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169
Application of Good Corporate Governance

The Companys application of GCG is integrated in the
Companys strategy as a means of creating a successful
business that will provide maximum benefit for the
shareholders in an ethical, legal and sustainable manner
while taking into consideration the interests of and justice
for other stakeholders.
The implementation of GCG is a reflection of PGNs
compliance with Regulation of State Minister of StateOwned Enterprises No.PER-01/MBU/2011 dated 1 August
2011 regarding the Implementation of Good Corporate
Governance in State-Owned Enterprises (SOEs).
According to State Minister of SOEs Regulation No.PER-01/
MBU/2011, GCG principles cover:
1. Transparency: openness in the processes of decision
making and disclosure of material and relevant
information about the company.
2. Accountability: clear functions, duties and
responsibilities of each of the corporate organs to
ensure that the company is managed effectively.
3. Responsibility: compliance with laws/regulations and
good corporate principles in the management of the
company.
4. Independence: professional management of the
company, with no conflicts of interest or undue
influence on the management that violate laws/
regulations and good corporate principles.
5. Fairness: equal treatment for all the companys
stakeholders in exercising their rights arising from
agreements and laws/regulations.
Applying GCG in SOEs is intended to:

1. Optimize the value of SOEs to ensure that they
are highly competitive, at both national and
international levels, such that they are capable of
defending their existence and sustainability in order
to achieve their mission and objectives as SOEs;
2. Promote the professional, efficient, and effective
management of SOEs, and empower and strengthen
the independence of the corporate organs;
3. Encourage the corporate organs to ensure that their
decision making and actions are founded on strong
moral values and compliance with the laws and
regulations, and promote an awareness of the social
responsibility of SOEs to their stakeholders and to
their environments;
4. Increase the contribution of SOEs to the national
economy;
5. Promote a conducive climate for the development of
national investment.
Annual Report 2012
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170
GCG Assessment
GCG Assessment
The juridical basis for the implementation of the GCG Assessment in PGN refers to the Regulation of the State Minister of
SOEs PER-01/MBU/2011, dated 1 August 2011, regarding the Implementation of Good Corporate Governance in SOEs.
The indicators for the GCG assessment are based on Decree of the Secretary of State Ministry of SOEs No. SK-16/S.
MBU/2012 dated 6 June 2012 regarding the Indicators/Parameters for the Assessment and Evaluation of GCG Practices in
SOEs, and cover the following:
1. Commitment to the continuous implementation of GCG
2. Shareholders and GMS/shareholders
3. The Board of Commissioners/Supervisory Board
4. The Board of Directors
5. Information disclosure and transparency
6. Other aspects
The 2012 assessment of GCG practices in PGN was conducted, using the above indicators, by PT Sinergi Daya Prima
between 11 September 2012 and 8 November 2012.
GCG Assessment RESULTs in 2012

Aspect
Weighting
Score
% Achievement
5.544
79.20
Shareholders and AGM
8.468
94.09 %
Commissioners
35
29.858
85.31%
Directors
35
33.289
95.11 %
Disclosure of Information & Transparency
8.561
95.12 %
Other Aspects
5.00
100 %
100
90.720
90.72%
Total
Achievement and Rating

Level
Achievement
Rating
90 100
Very Good
75 90
Good
60 75
Adequate
50 60
Poor
50
Very Poor
Annual Report 2012
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171
GCG Assessment
As the GCG assessment in 2012 referred to SK-16/S.MBU/2012, the indicators were different to those used in 2011, which
are shown in the following table:
GCG ASSESSMENT RESULTS IN 2012

Aspect
Weighting
Score
% Achievement
Rights and Responsibilities of Shareholders/GMS
9.00
7.22
80.22
II
Good Corporate Governance Policy
8.00
6.45
80.63
III
Good Corporate Governance Implementation
66.00
54.78
83.00
A. Board of Commissioners (BOC)
27.00
22.57
83.59
B. BOC Committees
6.00
4.90
81.67
C. Board of Directors
27.00
22.19
82.19
D. Internal Audit Unit
3.00
2.69
89.67
E. Corporate Secretary
3.00
2.43
81.00
7.00
6.21
88.71
10.00
8.44
84.40
100.00
83.10
83.10
IV Disclosure of Information
V
Commitment
Aggregate Score
Quality Rating of GCG Implementation
Good
The table above shows that the GCG assessment score increased from 83.10 (Good) in 2011 to 90.72 (Very Good)
in 2012.
Aspects that showed improvement in 2012 were:
a. Shareholders and GMS, scoring 94.09% compared to 80.22% in 2011
b. Board of Commissioners, scoring 85.31% compared to 83.59% in 2011
c. Board of Directors, scoring 95.11% compared to 82.19 in 2011
d. Information disclosure and transparency, scoring 95.12% compared to 88.71%
6
Annual Report 2012
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172
The Board of Commissioners
The Board
of Commissioners
Independence of the Board of Commissioners
The number of Independent Commissioners of PT PGN
(Persero) Tbk is in compliance with the Decision of the
Board of Directors of the Indonesia Stock Exchange
Number: Kep-305/BEI/07-2004 regarding Rule Number
I-A regarding the Listing of Shares and Equity Securities
other than Shares Issued Apart By a Listed Company, which
states that every public company must have a Board of
Commissioners, of whom at least 30% are Independent
Commissioners.
None of the members of the Board of Commissioners or
Board of Directors have a familial relationship with any
other member up to the third degree, either vertically or
horizontally or through marriage.
Responsibilities of the Board of

Commissioners
Every member of the Board of Commissioners must, in
good faith and with full responsibility, exercise supervision
and provide advice to the Board of Directors for the
interests and objectives of the Company. Each member of
the Board of Commissioners is jointly and severally liable
for any loss to the Company if the individuals concerned
are found to be guilty or negligent in the performance of
their duties.
The Board of Commissioners is fully responsible for the
supervision of the SOE in line with the Companys interests
and objectives.
The Board of Commissioners also has full responsibility
for monitoring the effectiveness of GCG practices and
providing suggestions for the improvement of GCG
systems and implementation.
Discharge of the Duties of the Board of

Commissioners
During 2012, the Board of Commissioners accomplished
the following:
1. Approved and ratified:

a. An increase in the paid up capital of PGN subsidiary
PT PGAS Solution of Rp.49,000,957,100 (fourty-nine
billion, nine hundred and fifty-seven housand one
hundred dollars).
b. The establishment of a subsidiary, PT PGN
LNG Indonesia, with authorized capital of
Rp.1,500,000,000,000 (one trillion five
hundred billion rupiah) and a paid-up capital of
Rp.375,000,000,000 (three hundred and seventy-five
billion rupiah).
c. An increase in the capital of PGN subsidiary PT SAKA
Energy Indonesia of Rp.1,069,500,000,000, - (one
trillion, sixty-nine billion, five hundred million rupiah).
d. The suspension of PGNs Director of Commerce.
e. The 2013 Corporate Work Plan and Budget (RKAP).
2. Discussing, giving opinions and advice, and seeking
explanations for the following, among others:
a. The increase in the share capital of PGN subsidiary,
PT PGAS Solution.
b. The planned establishment of a PGNs subsidiary to
handle the LNG business.
c. The performance of PGNs Director of Commerce.
d. Alleged irregularities in the operation of SBU II.
e. The results of a special audit of the SSWJ project
undertaken by auditors PricewaterhouseCoopers.
f. The division of duties of the Board of Commissioners.
g. Achievements and issues of the 2012 RKAP.
h. The relocation of the LNG FSRU project from
Belawan to Lampung.
i. Take or Pay and Gas Make Up issues with Conoco
Philips and Pertamina EP (PEP).
j. Gas price-fixing problems.
k. Problems with the derivative hedge contract with
ABN Amro.
l. Investment and the PGN bond.
m. Results of the PSA 62 audit by PSS
(Ernst & Young).
n. The impact of PSAK (Indonesian Accounting
Standards) on PGNs business processes.
o. Corporate initiatives on the implementation of
government policies such as energy diversification.
Annual Report 2012
energy for life
173
p. PGNs role in improving HR in the community.

q. Guidelines for the write-off of receivables.
r. Disposal and transfer of land and property assets owned by PGN.
s. The mobilization of PGAS.
t. The planned capital injection in PGN subsidiary, PT SAKA Energy Indonesia.
u. The draft 2013 RKAP.
3. Giving opinions on periodic reports from the Board of Directors.
Delivering an opinion on the Companys financial statements for the first, second and third quarters of 2012 to the
Dwiwarna shareholder.
4. Carrying out Board of Commissioners duties related to the implementation of the GMS.
a. Discussing the agenda of the EGM held on March 5, 2012 and the agenda of the Annual GMS for financial
year 2011, which was held on May 22, 2012.
b. Discussing and proposing a Public Accountant to audit the Financial Statements for the year ending
December 31, 2012.
c. Discussing and proposing remuneration for the Board of Directors and Board of Commissioners.
d. Following up the results of the resolutions of the EGM and AGM in financial year 2011.
Policy on the Determination of Remuneration of the Board of Commissioners
1. The Remuneration and Nomination Committee asks an independent

consultant to review the remunerationof the members
of the Board of Commissioners
2. The Remuneration and Nomination Committee formulates its

recommendations on the remuneration for the members
of the Board of Commissioners
3. The Remuneration and Nomination Committee proposes the remuneration

of members of the Board of Commissioners to the Board of Commissioners
4. The Board of Commissioner discusses the Remuneration and Nomination

Committees proposal
5. The Board of Commissioner proposes the remuneration for the members

of the Board of Commissioners to the GMS
6. The annual GMS (on 22 May 2012) determines the remuneration

for the members of the Board of Commissioners
Annual Report 2012
energy for life
174
PROCEDURE FOR THE DETERMINATION IF THE REMUNERATION

OF MEMBERS OF THE BOARD OF COMMISSIONERS
Recommendation and
proposal on the
remuneration for
BOC members
Remuneration
and Nomination
Committee
Formulates
recommendations and
proposes remuneration
for members of BOC
Discuss the proposed

remuneration for
members of BOC
to the GMS
Assisted by
independent consultant
to review remuneration
The Board of
Commissioners
Remuneration for Members of the Board of

Commissioners
Determining the Remuneration
The remuneration for the Board of Commissioners is
determined on the basis of the provisions in the
Regulation of the Minister of State-Owned Enterprises
(SOE) No. PER-07/MBU/2010 regarding the Guidelines for
the Determination of the Income of Members of the Board
of Directors, the Board of Commissioners, and the Board of
Trustees of State-Owned Enterprises.
According to this Regulation, the income of the Board
of Commissioners is determined by the General Meeting
of Shareholders (GMS). The Commissioners income is
comprised of:
a. Honorarium
b. Allowances
c. Facilities
d. Performance Bonus/Incentive
Remuneration proposal
for members of BOC
General Meeting
of Shareholders
Stipulate remuneration
for members of BOC
Remuneration for
members of the Board
of Commissioner
Approval of
Dwiwarna Series A
Shareholder
Relationship between Remuneration and the

Companys Performance
The award of bonuses for the BOC also refers to the above
provisions, as follows:
a. A performance bonus is given if the SOE makes a profit
in the fiscal year concerned.
b. A performance bonus is given if achievement measured
by the key performance indicators exceeds 70% and
soundness is more than 70%.
c. The achievement on the key performance indicators
calculated for the bonus is a maximum of 150%
d. The bonus is distributed as follows:
President Commissioner: 40% of the bonus of the
President Director
Members of the Board of Commissioners: 36% of
the bonus of the President Director
The remuneration awarded to each member of the
Board of Commissioners pursuant to the resolution of
the GMS on June 27, 2011, and in accordance with
the authorization letter of the State Minister for SOEs,
Deputy for Strategic and Manufacturing Industries, as the
shareholder of PT PGN (Persero) No.S-143/D2.MBU/2011
dated August 16, 2011 and GMS Resolution dated
May 22, 2012, was as follows:
Annual Report 2012
energy for life
175
Remuneration of the Board of Commissioners

in 2012
Position
Remuneration
Honorarium*
USD****
2,728,838,710
282,196
Allowance**
2,578,591,935
266,659
Incentive***
11,902,483,951
1,230,867
17,209,914,596
1,779,772
Total
*
**
***
****
Rp.
Including Commissioners who served until AGM 22 May 2012

Including Commissioners who served until AGM 22 May 2012
Including Commissioners who served until EGM 6 April 2011 and AGM 22 May 2012
For comparison, using the BI middle rate at end of 2012: 1 USD = Rp9,670
Company Policy on the Frequency of Board of Commissioners Meetings

In accordance with the Regulation of the Minister of SOEs PER-01/MBU/2011 dated 1 August 2011, regarding the
Implementation of Good Corporate Governance in State-Owned Enterprises, and Letter of the Minister of SOEs
No. -357/MBU.WK/2011 dated 5 September 2011 regarding the Policy of the Minister of SOEs on the Management
and Supervision of SOEs, the company stipulates that meetings of the Board of Commissioners/Board of Trustees
should be held at least once every month, and joint meetings with Board of Directors should be held at least once
every month.
Frequency of Meetings
During 2012, the Board of Commissioners held 26 meetings, as follows:
1 January 22 May 2012: 13 meetings
23 May 31 December 2012: 13 meetings
Attendance of the Board of

Commissioners
22 MAY - 31 DECEMBER 2012
1 JANUARY - 22 MAY 2012

Name
Meetings
Attended
%
Attendance
Name
Meetings
Attended
%
Attendance
11
85
Bayu Krisnamurthi
10
77
11
85
10
77
83
M. Zamkhani
11
85
Pudja Sunasa
11
85
Bambang Dwijanto
12
92
Widya Purnama
13
100
Pudja Sunasa
11
85
Widya Purnama
13
100
Megananda Daryono*
* Resigned as of 1 March 2012, honorably discharged by AGMS

on 22 May
Joint Meetings of the Board of Commissioners and Board of Directors

In 2012, the Board of Commissioners held 12 Joint Meetings with the Board of Directors, as follows:
1 January - 22 May 2012: 5 meetings
23 May - 31 December 2012: 7 meetings
Annual Report 2012
energy for life
176
The Board of Directors
The Board
of Directors
Independence of the Board Of Directors
Between the members of the Board of Directors and
the members of the Board of Commissioners there are
no familial relationships up to the third degree, whether
vertically, horizontally or by marriage.
One of the members of the Board of Directors is appointed

by a Meeting of the Board of Directors to be responsible
for the application and monitoring of GCG
in the Company. The scope of work and responsibilities
of each Director are as follows:
Scope of Work and Responsibilities of the

Board of Directors
President Director
Scope of Work:
The Board of Directors is the corporate body with the

authority and full responsibility for managing the Company
in the best interests of the Company, in line with the
corporate goals and objectives, and for representing
the Company both in a Court of Law or out of court, in
accordance with the Articles of Association. Members of
the Board of Directors are appointed and terminated by the
GMS.
a. The President Director coordinates all the

development and operational activities of the
Company, in the implementation of which he is
assisted by and cooperates with the other Directors.
b. In addition to the functions above, the President
Director also establishes, manages and controls
supervision over the management of the Company.
Scope of Work
1. To lead and take actions in relation to the
management of the Company in the best interests of
the Company and in accordance with its intentions
and objectives, which include:
a. Maintaining and managing the Companys assets;
b. Always seeking to improve the efficiency and
effectiveness of the Company.
2. Representing the Company, including in a Court
of Law, as provided for in the relevant laws and
regulations, the Articles of Association and/or
Resolution of the GMS.
Joint and Several Responsibility of the Board

of Directors
The Board of Directors must undertake its tasks in good
faith and with full responsibility. Each member of the Board
of Directors is individually and collectively liable for any loss
to the Company if the individuals concerned are found to
be guilty or negligent in the performance of their duties
according to the provisions of the law.
Responsibilities:
a. To plan, manage and control the Corporate Work
Plan and Budget and evaluate its achievement.
b. To plan, manage and control supervision over the
management of the Company.
c. To plan, manage and control compliance with the
laws and regulations.
d. To plan, manage and control policies relating to
corporate communications, institutional relations
and investor relations.
e. To control the development of technology,
engineering, construction and information
technology in the corporation.
f. To control gas supply, operational, marketing and
corporate sales activities, as well as occupational
health and safety and environmental management.
g. To control the management of the budget, treasury,
accounting and finances of the Company, as well as
social and environmental responsibility.
h. To control the management of human resources,
general services and corporate security, logistics,
business organization and processes as well as asset
management.
i. To control strategic planning for the development of
the business, the business transformation and risk
management.
Annual Report 2012
energy for life
177

Scope of Work:
The Director of Technology and Development establishes,
manages and controls corporate policy on the preparation
and evaluation analyses of technological developments;
the planning, engineering and construction of the natural
gas transmission and distribution pipelines, other modes
of transportation and supporting facilities, as well as other
measures to support the utilization of natural gas and the
development of information technology.
Responsibilities:
a. To plan, manage and control the work plan and
budget of the Directorate of Technology and
Development and evaluate its achievement.
b. To plan, manage and control policies and activities
related to the technological development in the
field of natural gas transmission and distribution
pipelines, other modes of transportation and
ancillary facilities, as well as other businesses that
support natural gas utilization.
c. To plan, manage and control policies and activities
related to the planning and engineering of the
natural gas transmission and distribution pipeline
network, other transportation modes and supporting
facilities, as well as other business that support the
utilization of natural gas.
d. To plan, manage and control policies and activities
related to information technology.
Scope of Work:
The Director of Commerce establishes, manages
and controls corporate policies on the operation and
maintenance of the natural gas transmission and
distribution pipeline network, supporting facilities and
other transportation modes, as well as the planning,
demand and control of gas supply availability, the
management of natural gas trading, customer service and
OSH and Environmental Management.
Responsibilities:
a. To plan, manage and control the work plans
and budgets of work units in the Directorate of
Commerce, and evaluate their achievement.
b. To plan, manage and control, as well as to develop
policies related to the operation and maintenance
of the gas transmission and distribution pipeline
network and its supporting facilities, as well as the
operation and maintenance of other transportation
modes.
c. To plan, manage and control, as well as to develop
policies on natural gas supply.
d. To plan, manage and control, as well as to develop
policies on marketing, sales and customer service.
e. To plan, manage and control policies related to
occupational safety and health and environmental
management.
Director of Finance
Scope of Work:
The Director of Finance establishes, manages and
controls corporate policies related to the work plan of
the Directorate of Finance and the corporate budget, the
treasury, organization of accounting activities, preparation
of financial statements, taxation, financial management
and the management of the social and environmental
responsibility program.
Responsibilities:
a. To coordinate the formulation of the corporate Work
Plan and Budget and evaluate its achievement.
b. To plan, manage and control the work plan and
budget of the Directorate of Finance and evaluate its
achievement.
related to the treasury.
Annual Report 2012
energy for life
178

related to corporate accounting, financial reporting
and taxation.
e. To plan, manage and control policies related to the
long-term financial condition of the Company.
f. To plan, manage and control policies related to
the implementation of the Companys social and
environmental responsibility.
Director of Human Resources and General

Affairs
Scope of Work:
The Director of HR and General Affairs establishes,
manages and controls corporate policies on human
resource management, education and training,
organization, and business processes, as well as GCG,
the corporate culture, logistics, general services,
Company security and asset management.
Responsibilities:
a. To plan, manage and control the work plans and
budgets of the work units in the Directorate of HR
and General Affairs, and evaluate their achievement.
related to workforce planning and human resource
development and empowerment.
related to remuneration and industrial relations.
related to education and training.
e. To plan, manage and control policies on the
development of Management Systems, Good
Corporate Governance, and the corporate culture
as well as the implementation of organizational
development.
f. To plan, manage and control policies and activities
related to logistics, including the procedures for
goods and service procurement.
g. To plan, manage and control policies and activities

related to services, the supply and maintenance of
office buildings, and Company security.
h. To plan, manage and control policies on asset
management.
Director of Investment Planning and Risk

Management
Scope of Work:
The Director of Investment Planning and Risk
Management establishes, manages and controls
corporate policies on the formulation and evaluation
of strategic plans, business development, business
transformation, corporate performance management
and risk management.
Responsibilities:
a. To plan, manage and control the work plans
and budgets of work units in the Directorate of
Investment Planning and Risk Management, and
evaluate their achievement.
related to the formulation, evaluation and control of
the Companys strategic plans.
c. To plan, manage and control policies related to
business development, investment planning, and the
establishment and control of subsidiaries.
related to the transformation of the business and
control of the performance of the Company and the
Work Units in the Company.
e. To plan, manage and control policies and activities
related to corporate risk management.
Annual Report 2012
energy for life
179
POLICY ON the Determination of The Remuneration of the Board of Directors
Basis for Determining the Remuneration of Members of the Board of Directors

The remuneration for the Board of Directors is determined on the basis of the provisions in the Regulation of the Minister
of State-Owned Enterprises No. PER-07/MBU/2010 regarding the Guidelines for the Determination of the Income of
Members of the Board of Directors, the Board of Commissioners, and the Board of Trustees of State-Owned Enterprises.
1. The Remuneration and Nomination Committee asks an independent

consultant to review the remunerationof the members
of the Board of Directors
2. The Remuneration and Nomination Committee formulates its

recommendations on the remuneration for the members
of the Board of Directors
3. The Remuneration and Nomination Committee proposes the remuneration
of members of the Board of Commissioners to the Board of Directors
4. The Board of Director discusses the Remuneration and Nomination

Committees proposal
5. The Board of Commissioner proposes the remuneration for the members

of the Board of Directors to the GMS
6
6. Annual GMS (on 22 May 2012) determines the remuneration

for the members of the Board of Directors
Annual Report 2012
energy for life
180
Relationship between Remuneration and

the Companys Performance
Pursuant to the Ministerial Decree, the remuneration of the
members of the Board of Directors is determined by the
Annual General Meeting of Shareholders as follows:
a. Salary
For the year 2012, the proportion of the salary
paid to Directors is 90% of the salary paid to the
President Director
b. Allowances for Directors
1. Members of the Board of Directors are entitled to
receive a religious holiday allowance of at most
2 (two) months salary, while considering the
Companys capability.
2. Members of the Board of Directors are entitled to
receive an annual leave allowance of at most
1 (one) months salary. The annual leave allowance
may still be paid even if the leave entitlement is
not used or permission is not granted due to the
corporate interest.
3. Members of the Board of Directors are entitled
to receive a long service leave allowance of at
most 2 (two) months salary. The long service
leave allowance may still be paid even if the leave
entitlement is not used or permission is not granted
due to the corporate interest. The long service leave
entitlement is granted after the BoD member has
served for 3 consecutive years in one term of office.
4. Each member of the Board of Directors is entitled to
receive a communication allowance, paid at cost.
5. At the end of every term of office, each member of
the Board of Directors is entitled to receive a postservice benefit in the form of insurance or a pension.
The cost of the premium or annual dues is borne by
the Company, at most 25% of the members annual
salary or honorarium, and the amount of which
should be stated in the annual work plan and budget
in each fiscal year. The choice of insurance or pension
program is left to the BOD to decide.
6. Each member of the Board of Directors is entitled to
receive a housing allowance of up to 30% of the
monthly salary.
7. Each member of the Board of Directors is entitled

to receive a utilities allowance of up to 30% of the
value of the housing allowance
c. Facilities for Directors
1. The Company shall provide 1 (one) office car,
including car maintenance and operational
allowance, for each member of the Board of
Directors, in which the type and size are defined by
putting into consideration the propriety and financial
capability of the Company.
2. The Company shall provide a health benefit program
for each member of the Board of Directors in
accordance with the applicable regulation of the
Company.
3. The Company shall provide legal assistance for each
member of the Board of Directors in the eventuality
of action for and on behalf of his/her office, relating
to the purposes and objectives and business activities
of the Company.
4. The Company may enroll members of the Board
of Directors to professional associations, at most 2
(two) associations per member. Facilities provided
for joining professional associations include only
enrollment fees and annual dues.
d. Tantiem/Performance Incentive
Pursuant to the aforementioned Ministry Regulation,
the procedure for determining tantiem includes:
1. Distribution of tantiem for the members of the
Board of Directors, in the eventuality of SOEs
making profit in the related fiscal year.
2. Members of the Board of Directors may receive
tantiem or performance incentives if the
achievement of Key Performance Index (KPI) and
levels of soundness are above 70%.
3. The maximum achievement of Key Performance
Index is taken into account in the calculation of
tantiem and performance incentives is 150%.
4. The Composition is:
President Director: 100%
Director : 90% of the President Director.
Annual Report 2012
energy for life
181
The Company may distribute tantiem to the members of the Board of Directors in the eventuality of increasing
performance even if the Company is still suffering losses in the related financial year or an accumulation of losses
from previous fiscal year.
Remuneration for members of the Board of Directors was stipulated by the resolution of AGM dated 27 June 2011
and is in line with the letter of attorney of the SOEs Minister as the majority shareholder of the Company, Deputy of
Strategic Industry and Manufacture No. S-143/D2.MBU/2011 dated 16 August 2011.
PROSEDUR PENETAPAN REMUNERASI

ANGGOTA DEWAN DIREKSI
PROCEDURE FOR THE DETERMINATION OF THE REMUNERATION
OF MEMBERS OF THE BOARD OF DIRECTORS
Recommendation
and Proposal on the
Remuneration for
members of BOD
Remuneration
and Nomination
Committee
Formulate
recommendation
and propose
remuneration
for members of BOD
Discuss the proposed

remuneration for
members of BOD
to the GMS
Assisted by the
independent consultant
to review
remuneration
The Board of
Commissioners
Remuneration poposal
for members of BOD
Stipulate remuneration for

members of BOD
General
Meeting of
Shareholders
Annual Report 2012
Approval of
Dwiwarna Series A
Shareholders
energy for life
Remuneration for
members of the Board
of Directors
182
Remuneration of the Board of Directors in 2012

Position
Board of Directors
Remuneration
Total
(in Rupiah)
USD****
Honorarium*
7,326,241,935
757,626
Allowance**
5,387,993,871
557,186
Incentive***
32,547,516,049
3,365,824
45,261,751,855
4,680,636
Total
*
**
***
****
Including Directors who served until EGM 6 April 2011, and EGM 5 March 2012
Including Directors who served until EGM 6 April 2011, and EGM 5 March 2012
Including Directors who served until EGM 6 April 2012, EGM 5 March 2012 and AGM 22 May 2012
For comparison, using the BI middle rate at end of 2012: 1 USD = Rp9,670
Policy on Frequency of Meetings of the Board of Directors

In accordance with the Regulation of the Minister of SOE PER-01/MBU/2011 dated 1 August 2011, on Implementation
of Good Corporate Governance (GCG) of the State-Owned Enterprises and letter of the SOE Minister No. -357/MBU.
WK/2011 dated 5 September 2011 regarding the policy of SOE Minister in the Management of SOE, the company
stipulates that meetings of the Board of Directors should be held regularly at least once in every month, and joint meeting
with Board of Commissioners should be held at least once in every month.
Frequency of Meetings
In 2012, the Board of Directors held 58 meetings, with details of attendance as follows:
1 January - 22 May 2012: 24 meetings
23 May - 31 December 2012: 34 meetings
Annual Report 2012
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183
Attendance of the Board of Directors

1 JANUARY - 5 MARCH 2012
Name
Meetings Attended
Hendi Prio Santoso
% Attendance
10
100
10
100
10
100

M. Wahid Sutopo
90
10
100
5 MARCH - 22 MAY 2012

Name
Meetings Attended
% Attendance
Hendi Prio Santoso
14
100
14
100
14
100
14
100
M. Wahid Sutopo
14
100
22 MAY - 31 DECEMBER 2012

Name
Meetings Attended
% Attendance
Hendi Prio Santoso
34
100
34
100
Djoko Saputro
34
100
34
100
Hendi Kusnadi
34
100
M. Wahid Sutopo
34
100
Annual Report 2012
energy for life
184
General Meeting of Shareholders (GMS)

The GMS possesses authority that is not given to either
the Board of Directors or the Board of Commissioners,
within certain limits that are determined by law or in the
Articles of Association. It has the authority to request the
accountability of the Board of Commissioners and Board of
Directors in relation to the management of the Company.
The Company ensures that all information related to
the Company is disclosed to the General Meeting of
Shareholders
In 2012, PGN held an Extraordinary Meeting of
Shareholders (EGMS) on 5 March 2012 and a GMS on 22
May 2012. The GMS was held pursuant to Law No. 40 year
2007 regarding Limited Liability Companies, and BAPEPAM
Rule No. IX.I.1 regarding the plan and the implementation
of the General Meeting of Shareholders.
EGMS held on 5 March 2012
Notices of the plan to hold an EGMS were published in
3 national newspapers on 2 February 2012
The invitation to the shareholders was issued and
published in 3 national newspapers on 17 February
2012
The results of the EGMS were released in 3 national
newspapers on 7 March 2012
The EGMS Agenda was as follows:
1. To decide on the temporary discharge of the Director of
Commerce.
2. Any other business.
The results of the EGMS on 5 March 2012 were as follows:

1 a. The Meeting affirmed the temporary discharge of
Mr. Michael Baskoro Palwonugroho as the Director of
Commerce as referred to in:
The Resolution of the Board of Commissioners
Number Kep-01/D-KOM/2012 dated 17 January
2012 concerning the temporary discharge of Mr.
Michael Baskoro Palwonugroho as the Director of
Commerce of PT Perusahaan Gas Negara (Persero)
Tbk, and
The notification letter from the Board of
Commissioners Number 02/D-KOM/2012
dated 17 January 2012. The meeting thereby
discharged Mr. Michael Baskoro Palwonugroho
from his position as Director of Commerce as of
the close of the meeting.
b. The Meeting authorized the Board of Directors to
determine the allocation of the duties of the Director
of Commerce and to report such allocation to the
Board of Commissioners.
GMS held on 22 May 2012
Notices of the plan to hold a GMS were published in 3
national newspapers on 20 April 2012
The invitation to the shareholders was issued and
published in 3 national newspapers on 7 May 2012
The results of the GMS were released and published in 3
national newspapers on 24 May 2012
The agenda was as follows:
1. To approve the Annual Report of the Company for
2011 and the Annual Report of the Partnership and
Community Development Program for 2011 as well as
the Board of Commissioners Supervisory Report for
2011;
2. To ratify the Annual Financial Statements of the
Company for 2011 and the Financial Statements of the
Partnership and Community Development Program for
2011, and to release and discharge the members of the
Board of Directors and the Board of Commissioners of
their responsibilities for their actions and supervision
during 2011;
Annual Report 2012
energy for life
185
3. To approve the profit allocation for 2011, including the

dividend;
4. To approve the appointment of a Public Accountant to
audit the Company Financial Statements for 2012;
5. To approve the remuneration of the Board of
Commissioners and the Board of Directors;
6. To change the composition of the Companys
management.
GMS 2012 Results dated 22 May 2012

The results of the GMS held on 22 May 2012 were as
follows:
1. The Meeting approved the Annual Report on the
operations and management of the Company by the
Board of Directors and the Supervisory Report by the
Board of Commissioners during 2011, and the Annual
Report of the Partnership Program and Community
Development for the year 2011.
b. The Financial Statements of the Partnership and

Community Development Program of the Company
of 2011, which were audited by the Public
Accountants S. Mannan Ardiansyah and Partners,
pursuant to the report LAP.034/SM.05.A/IV/2012
dated April 16, 2012, with the following opinion:
The financial report presents fairly, in all material
respects, the financial position of the Partnership and
Community Development Program of PT Perusahaan
Gas Negara (Persero) Tbk. as of December 31, 2011,
and the results of the operations and their cash
flows for said year in conformity with the Indonesian
Accounting Standards for Non-Publicly-Accountable
Entities.
Furthermore, the Meeting approved the release
and discharge (volledig acquit et decharge) of
the members of the Board of Directors for their
management of the Company and to the Board of
Commissioners for their supervision of the Company,
as well as for their actions for and supervision of the
Partnership and Community Development Program
of the Company in 2011, on condition that the
aforementioned actions and supervision are recorded
in the Companys Annual Report and Financial
Statements and the Financial Statements of the
of the Company for 2011, insofar as this is consistent
with the prevailing laws and regulations.
2. The Meeting ratified:

a. The Financial Statements for the year 2011
audited by the Public Accountants Purwantono,
Suherman & Surja (a member firm of Ernst & Young
Global) pursuant to the report number RPC-2055/
PSS/2012 dated March 6, 2012, with the following
opinion: The consolidated financial statements
of PT Perusahaan Gas Negara (Persero) Tbk and
Subsidiaries present fairly, in all material respects,
the financial position as of December 31, 2011 and
2010 and January 1, 2010/ December 31, 2009, and
3. Approved the utilization of the net income of the
the results of their operations and their cash flows
Company in 2011 of Rp5,933,063,233,665,- as follows:
for the years ended December 31, 2011 and 2010 in
a. Rp3,263,184,778,516,- or equivalent to 55% of the
conformity with the Indonesian Financial Accounting
net income, as a cash dividend for 2011, which has
Standards.
been distributed as an interim dividend pursuant to
the Minutes of the Meeting of the Board of Directors
and Board of Commissioners on November 8, 2011,
in the amount of Rp263,485,084,590,- and which
was paid on December 13, 2011 in the amount of
Rp10.87 per share. As such, the remainder of the
cash dividend, amounting to Rp2,999,699,693,926,or equivalent to Rp123.75 per share of the net
income, will be distributed to the shareholders of the
Company.
Annual Report 2012
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186
b. Rp118,661,264,673,- or equivalent to 2% of the net

income, for the Partnership Program.
c. Rp118,661,264,673,- or equivalent to 2% of the net
income, for the Community Development Program.
d. The remainder shall be recorded as an Appropriated
Reserve to support the operational activities and the
expansion of the Company.
e. The Board of Directors is authorized to prepare and
manage the distribution of the cash dividend and
announce it in compliance with the prevailing laws
and regulations.
4. The Meeting approved:

a. The re-appointment of Public Accountants
Puwantono, Suherman & Surja (a Member Firm of
Ernst & Young Global) to perform an integrated
audit of fiscal year 2012, which shall cover the
audit of the Companys Consolidated Financial
Statements and the audit of Internal Controls over
Financial Reporting with regard to the 2012 Financial
Statements.
b. The delegation of authority to the Board of
Commissioners to:
1) Appoint a Public Accountant to conduct an
audit of the utilization of the Partnership and
Community Development Program Budget for
2012.
2) Determine the compensation of the Public
Accountant and other requirements in appointing
the aforementioned Public Accountant with
regard to the principles of fairness and the scope
of work for the audit.
3) Appoint an alternative Public Accountant
and decide the terms and conditions of such
appointment, in case the appointed Public
Accountant is unable to fulfill its duties for
any reason, including the failure to reach an
agreement on the amount of compensation.
c. The implementation of the Integrated Audit for 2012 and

audit of the utilization of the Partnership and Community
Development Program Budget for 2012 should be
completed no later than the end of February 2012.
a. That the salaries of the members of the Board of Directors
and the honorarium for members of the Board of
Commissioners for 2012 should be the same as in 2011.
b. That the allowances and facilities for the Directors and
Commissioners for 2012 should be the same as the
allowances and facilities provided in 2011.
c. That the total gross bonus (including tax) for the Directors
and the Commissioners for their performance in 2011
amounts to Rp44,450,000,000,- with the following
provisions:
1) Members of the Board of Directors and the Board of
Commissioners received a bonus in accordance with their
position.
2) The 2011 bonus is paid proportionally in accordance with
the length of time served by the individual concerned in
2011
3) Any taxes on the bonus are borne by the parties
concerned.
a. The honorable discharge of those named below as members
of the Board of Commissioners of PT Perusahaan Gas
Negara (Persero) Tbk:
1) Mr. Tengku Nathan Mahmud
: as President

Commissioner/

Independent

Commissioner
2) Mr. Megananda Daryono
: as a Commissioner
3) Mr. Kiagus Ahmad Badaruddin
: as a Commissioner
with gratitude for their dedicated service.
Annual Report 2012
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187
b. The appointment of those named below as

members of the Board of Commissioners of PT
Perusahaan Gas Negara (Persero) Tbk :
1) Mr. Bayu Krisnamurthi
: as President
Commissioner
2) Mr. M. Zamkhani
: as a Commissioner
3) Mr. Kiagus Ahmad
Badaruddin
: as a Commissioner
4) Mr. Bambang Dwijanto
: as a Commissioner
c. The transfer of Mr. Pudja Sunasa to become an
Independent Commissioner of PT Perusahaan Gas
Negara (Persero) Tbk.
d. The composition of the Board of Commissioners
of PT Perusahaan Gas Negara (Persero) Tbk is
therefore as follows :
1) Mr. Bayu Krisnamurthi
: as President
Commissioner
2) Mr. M. Zamkhani
: as a Commissioner
3) Mr. Kiagus Ahmad
Badaruddin
: as a Commissioner
4) Mr. Bambang Dwijanto
: as a Commissioner
5) Mr. Pudja Sunasa
: as an Independent
Commissioner
6) Mr. Widya Purnama
: as an Independent
Commissioner
e. To honorably discharge Mr. Eko Soesamto Tjiptadi

as Director of General Affairs and Human
Resources as of the closing of the Meeting, with
gratitude for the dedication and effort he has given
during his service.
f. To transfer Mr. Jobi Triananda Hasjim from
his position as Director of Technology and
Development to become the Director of Commerce
of PT Perusahaan Gas Negara (Persero) Tbk as of
the closing of the Meeting by serving out his term
of office, without prejudicing the right of the GMS
to discharge him at any time before his term of
office ends.
g. To appoint:
1) Mr. Hendi Prio Santoso : as President Director
2) Mr. Djoko Saputro : as Director of Technology

and Development
3) Mr. Hendi Kusnadi : as Director of Human
Resources and General Affairs as of the closing
of the Meeting until the closing of the 5th
Annual GMS after this meeting, without
prejudicing the right of the GMS to discharge a
member of the Board of Directors at any time
before their term of office ends.
The discharge and appointment of the member of

the Board of Commissioners will take effect as of
the close of the Meeting.
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188
h. Therefore, the composition of the Board of Directors

Implementation of the Resolutions of the
of PT Perusahaan Gas Negara (Persero) Tbk, which
2012 GMS on 22 May 2012
will take effect as of the closing of the Meeting, is as
1. The net income for 2011 has been used in
follows:
accordance with the resolutions of the GMS;
1) Mr. Hendi Prio Santoso
: as President Director
a. The remaining cash dividend of
2) Mr. Jobi Triananda Hasjim : as Director of
Rp1,999,699,693,926 was distributed on 29 June
Commerce
2012.
3) Mr. Hendi Kusnadi
: as Director of Human
b. Funds amounting to Rp461,3677,177,806 were

Resources and
disbursed for the Partnership and Community

General Affairs
Development Program.
4) Mr. Djoko Saputro
: as Director of
c. Outstanding net income has been recorded as

Technology and
retained earnings.
Development
2. Public Accountants Purwanto, Suherman dan
5) Mr. Muhammad
Surja (member firm of Ernst & Young Global)
Wahid Sutopo
: as Director of
have conducted an integrated audit of the 2012

Investment Planning
Consolidated Financial Statements and the Internal

and Risk
Controls over Financial Reporting for 2012.
Management
3. The Board of Commissioners appointed Public
6) Mr. M. Riza Pahlevi Tabrani : as Director of Finance
Accountants Zainal, Juhana and Partners to audit
the utilization of the Partnership and Community
Power of attorney is delegated to the Board
Development Program Fund in 2012.
of Directors of the Company, with the right of
4. The integrated audit for 2012 was completed on
substitution, to state what has been decided on
18 February 2013 and the report published on
this agenda in person in front of a notary public or
28 February 2013. The audit of the utilization of
competent authorities.
Partnership and Community Development funds in
2012 was completed on 8 February 2013.
5. The salaries, honorariums, allowances and facilities
for the Commissioners and Directors have been
determined in accordance with the resolutions of the
GMS.
6. Bonuses for the Directors and Commissioners was
paid on 28 May 2012.
7. The new management have performed their duties
effectively since the closing of the GMS.
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189
Assessment on The Members

of The Board of Commissioners
And the Board of Directors
Assessment of the Members of the Board of Commissioners and the Board of Directors
Assessment Process
The performance of the Commissioners is assessed through the General Meeting of Shareholders (GMS). The GMS
is a meeting organized by the Board of Directors at the written request of one or more members of the Board of
Commissioners or by one or more shareholders who jointly represent 1/10 or more of all the shares with voting rights.
Criteria or Performance Indicators

The criteria for assessing the performance of the Board of Commissioners are related to the implementation of their
duties, i.e. to exercise supervision over the management and policies of the Company and to advise the Board of
Directors in the interests of and for the objectives of the Company, and to carry out the tasks specifically assigned to
them according to the Articles of Association and/or a decision of the GMS and the provision laws and regulations.
The performance indicators for the Board of Directors cover the following:
1. The implementation of the tasks and responsibilities of each member of the Board of Directors in accordance with
the Companys Articles of Association;
2. The implementation of the decisions of the 2012 GMS for fiscal year 2011 held in 2012;
3. Assessment score based on Minister of SOEs Decree No. KEP-100/MBU/2002, covering:
Financial aspects
Operational aspects
Administrative aspects
4. Other supporting performance indicators
the companys performance indicators

based on the decree of minister of soes no. KEP-100/MBU/2002
No
Description
Weighting
Achievement
Financial Aspect
ROE, ROI, Cash Ratio, Current Ratio, Collection Period,
Inventory Turnover, TATO and TMS towards TA
70
67
II
Operational Aspect
Operating Volume (Gas Sales and Transportation),
Unaccounted Gas - Loss (Gain), Zero Accident, Number
of Customers and Customer Satisfaction Index
15
14
III
Administration Aspect
Annual Report, Corporate Work Plan and Budget,
Periodic Reports (Consolidated Financial Statements),
Effectiveness of Fund Disbursement and Collectibility of
Loan Disbursement
15
15
100
96
Total Score on Operational Aspect

Level of Companys Soundness
Sound
Rating
AAA
Annual Report 2012
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Assessors of the Performance

of BOC and BOD
190
other supporting performance indicators

Key Performance Indicators
Customer Perspective
1. Service Index:
- CII
Business Process Perspective
1. GCG Index
2. Implementation of Human Capital System
Learning & Growth Perspective
1. Implementation of Business Transformation
Target
Achievement
% Achievement
4.60
5.31
115.43
90
100
90.72
100
100.80
100
100
100
100
Assessors of the Performance of BOC and BOD
GCG Assessor of BOC and BOD
The assessment of the performance of the Board of

Commissioners is carried out by the GMS, while the
performance of the Board of Directors is assessed by the
Board of Commissioners and the GMS. In conducting the
performance assessment of the Board of Directors, the
Board of Commissioners refers to the Key Performance
Indicators (KPI) of the Board of Directors as explained
above. The Board of Commissioners and the Board of
Directors will account for their performance during
2012, including the implementation of their tasks and
responsibilities, at the GMS that will be held in 2013.
The assessment of GCG application by the Board of

Commissioners and Board of Directors was conducted by
an independent institution, PT Sinergi Daya Prima, using
a parameters that refer to the Letter of the Secretary of
the State Ministry of SOEs No. 16/S.MBU/2012 dated 6
June2012, regarding the Indicators for the Assessment and
Evaluation of GCG Implementation.
GCG Assessment of the BOC and BOD

In 2012, an assessment was made of the application of
GCG in the respective domains of the Board of Directors
and Board of Commissioners. The process was consistent
with the GCG assessment framework developed by the
Ministry of SOEs.
The score achieved by the Board of Commissioners in the
GCG assessment was 95.11%, indicating that in general
the application of GCG in the domain of the Board of
Commissioners was running well.
Committees
Pursuant to Regulation PER-01/MBU/2011 regarding Good
Corporate Governance in State-Owned Enterprises, the
Company has two committees:
1. Audit Committee
2. Risk Management and Business Expansion Monitoring
Committee
The Committee line-up was previously based on Regulation
KEP-117/M-MBU/2012 dated 31 July 2002. Up to 29 May
2012, the Company had four committees:
1. Audit Committee
2. Remuneration and Nomination Committee
3. Insurance and Business Risk Committee
4. Good Corporate Governance Committee
Meanwhile, the Board of Directors achieved a score of

95.12%, indicating that the application of GCG in the
domain of the Board of Directors was also running well.
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191
Audit Committee
The Audit Committee was established pursuant
to Bapepam Regulation No. IX.I.5 regarding the
Establishment and Guidelines for the Implementation
of the Work of the Audit Committee, which is an
Attachment to the Decision of the Chairman of Bapepam
No. Kep-29/ PM/2004 dated 24 September 2004 juncto
Bapepam Regulation No. X.K.6 regarding the Mandatory
Submission of the Annual Report for Issuers or Public
Companies (Attachment to Decision of the Chairman
of Bapepam No. Kep-134/BL/2006 dated 7 December
2006), and the Jakarta Stock Exchange (Indonesia Stock
Exchange) Rule No. I-A regarding the General provisions
for the Listing of Equity Securities on the Stock Exchange
(Attachment II to Decree of the Board of Directors of PT
Bursa Efek Jakarta No. Kep-305/BEJ/07-2004 dated 19
July 2004).
The establishment of the Audit Committee also referred
to Article 70 of Law No. 19 year 2003 dated 19 June
2003 regarding SOEs, which states that the Board of
Commissioners or Supervisory Council of a State-Owned
Enterprise must establish an Audit Committee. Further
rules regarding Audit Committees are found in the
Decree of the State Minister No. Per- 05/MBU/2006,
which is an amendment of the Decree of the Minister
of State-Owned Enterprises No.103 year 2002, as well
as the decree that preceded it, namely the Decree of
the State Minister of SOEs Empowerment No. KEP133/M-PBUMN/1999 dated 8 March 1999 regarding
the Establishment of Audit Committees for SOEs. The
decree of the Minister of State-Owned Enterprises No.
KEP-117/ MMBU/2002, regarding the Application of
Good Corporate Governance Practices in State-Owned
Enterprises, also contain several articles governing Audit
Committees.
Audit Committee
a. Tasks and Responsibilities

The tasks and responsibilities of the Audit
Committee as stated in the Audit Committee
Charter of PT PGN (Persero) Tbk, which was
stipulated by the Decision of the President
Commissioner of PT PGN (Persero) Tbk No: 002/11/
KOM-1/2004 dated 30 March 2004, amended
by a Decree of the Board of Commissioners
dated 2 April 2009 and the revision thereof in
a Decree of the Board of Commissioners dated
15 December 2009, are to provide opinions to
the Board of Commissioners on reports or other
matters conveyed by the Board of Directors to
the Board of Commissioners, to identify matters
that need to be brought to the attention of the
Board of Commissioners and to carry out other
tasks in relation to the tasks of the Board of
Commissioners, including:
Scrutinizing the financial information that will
be released by the Company, such as financial
statements, projections, the Long-Term Plan,
Corporate Business and Budget Plan, management
reports and other information.
Scrutinizing the Companys compliance with the
laws and regulations related to the capital market
and other rules and regulations related to the
activities of the Company.
Scrutinizing the internal control system
implemented by the Internal Audit Unit, covering
the following: ensuring the effectiveness of the
internal control system and the effectiveness of
task implementation; assessing the implementation
of activities and the results of the audits performed.
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192
Reviewing, selecting and nominating a Public

Accountant, including a review of its independence,
and providing recommendations on the appointment
of the Public Accountants to the Board of
Commissioners.
Scrutinizing the implementation of the audit by
the external auditor: ensuring the effectiveness of
the internal control system and its implementation;
assessing the implementation of the activities and
results of the audit in accordance with the applicable
standards.
Reporting to the Board of Commissioners various
risks the Company has to deal with and the
applications of risk management by the Board of
Directors.
Scrutinizing and reporting to the Board of
Commissioners any complaints related to the
Company.
Safeguarding the confidentiality of documents, data
and information related to the Company.
Providing recommendations on the updating of the
management control system and the implementation
of the system to the Board of Commissioners.
Ensuring a satisfactory procedure review of all the
information disclosed by the Company.
Audit Committee
o If deemed necessary, with the approval of

the Commissioners and assisted by the IAU,
organizing reviews and discussions in Work Units
with regard to the need to make an in-depth
examination of certain findings.
o The Committee may obtain evidence that provides
adequate confirmation of the character, scope,
magnitude and impact of any weaknesses or
significant differences in internal controls and
their influence on the financial statements.
o With the approval of the commissioners, the
committee may seek perspective from external
parties to provide technical or other related
guidance at the Companys expenses.
c. Composition
The membership of the Audit Committee for the period
of 1 January 31 December 2012 was as follows:
Chair
: Tengku Nathan Machmud

( 1 January 22 May 2012)

Pudja Sunasa

(22 May 31 December 2012)
Member
: Tjahjanto Budisatrio
Member
: Mohammad Slamet Wibowo
Member
: Imbuh Sulistyarini
Member
: Shalahudin Haikal
b. Authority
To have full, free and unlimited access to records,
employees, funds, assets and other Company
resources that are related to its tasks.
Required to work with the Internal Audit Unit (IAU),
among other matters, on the following:
o Coordinating on the preparation of the annual
audit work plan and the implementation of the
audit.
o Holding regular meetings with the Internal
Audit Unit to discuss issues that are considered
significant and within the bounds of the tasks
and functions on the Board of Commissioners,
according to the prevailing laws and regulations.
Annual Report 2012
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Educational Qualifications and Experience

of Audit Committee Members
Tjahjanto Budisatrio
A member of the Audit Committee since 1 March 2007.
He was a research assistant at the Indonesian Institute of
Management Development from 1987 to 1988 and an
assistant lecturer at the Faculty of Economics, University
of Indonesia (FEUI) from 1987 to 1992. He has been a
member of and lecturer in the FEUI since 1992. He holds
a masters in economics from the Australian National
University, and is currently doing doctoral studies at
FEUI, focusing on Industrial Economics. He was the Head
of the Research and Consultation Division at the FEUI
Institute of Management from 2000 to 2001 and served
as deputy head of the Institute from 2001 to 2004. He
was the assistant to the Investment Coordinating Board
(BKPM) as head of the Data Analysis Division from 2007
to 2008. Since 2008 he has been Director of Business
Activities at the University of Indonesia.
Imbuh Sulistyarini
A member of the Audit Committee since 1 April 2007.
She has been a lecturer at FEUI since 1997, a consultant
at the FEUI Institute of Management since 1997 and a
staff member at BHMN, University of Indonesia, since
2007. She holds a masters in accountancy from the
University of Indonesia.
193
Audit Committee
M. Slamet Wibowo
A member of the Audit Committee since 1 April 2007.
His various positions include accountant/consultant with
Hanadi Sudjendro KPMG, Public Accountants, The Flagler
Management Group and G. Fraley CPA. He became an
assistant lecturer at the Faculty of Economics, University
of Indonesia in 1987. He holds a Diplme Europen de
3me Cycle MATIS from La Confrence Universitaire
de Suisse Occidentale and La Confrence Universitaire
Rhne-Alpes as well as a Diplme dEtudes Approfondies
(DEA) from the Universit Pierre Mendes France in
Grenoble, France in Management Information Systems and
an MBA from the University of Missouri, Kansas City, USA.
Shalahuddin Haikal
A member of the Audit Committee since 1 June 2008.
He worked as an analyst for PT Danareksa Sekuritas, PT
Inter-Pacific Securities and PT Bahana Securities. He is a
lecturer at the Department of Management, Faculty of
Economics at the University of Indonesia. He graduated
from the School of Law, Faculteit der Rechtsgeleerdheid
at Erasmus University, Rotterdam in 2005.
Annual Report 2012
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194
d. Committee Independence
The Audit Committee is chaired by an Independent
Commissioner and four of the members are
professionals from outside PGN. This complies
with the provision in the Decision of the
Chairman of Bapepam No. Kep-29/PM/2004
regarding the Establishment and Guidelines for
the Implementation of the Work of the Audit
Committee. The Audit Committee undertakes
its tasks and responsibilities professionally and
independently.
Companys Policy Regarding Frequency of

Meetings
Pursuant to Bapepam Regulation No. IX.1.5, Attachment
to the Decision of the Chairman of Bapepam No. Kep29/PM/2004, dated 24 December 2004, regarding the
Establishment and Guidelines for the Audit Committee, the
Audit Committee must meet at least once every month.
Audit Committee
In 2012, the Audit Committee held 57 meetings, with

details of attendance as follows:
ATTENDANCE OF THE COMMITTEE MEMBERs

Name
% Attendance*
Pudja Sunasa*
95
Tengku Nathan Machmud*
65
72
M. Slamet Wibowo
88
Imbuh Sulistyarini
93
Shalahuddin Haikal
75
* In accordance with the number of meetings held during their term of office
Annual Report 2012
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195
Discharge of Duties
The Audit Committees activities in 2012 included the
following:
Reviewing and assessing the adequacy of the
examination conducted by the external auditors,
as well as providing feedback on the results of an
audit of the Companys Financial Statements for
Fiscal Year 2011.
Reviewing and providing a response to the
Companys Quarterly Financial Statements and
the review of external auditors on the Central
Company Annual Financial Statements for Fiscal
Year 2012.
Reviewing the Work Plan and Budget (RKAP) in
2013 and providing input as advice to the Board of
Commissioners on the adoption of the 2013 RKAP.
Evaluated the performance, competence,
independence and objectivity of the public
accountants that conducted the previous years
audit and made recommendations for the Board
of Commissioners to consider and propose to the
GMS regarding the auditor of the Consolidated
Financial Statements for fiscal 2012.
Reviewing the Audit Report (LHA) of the Internal
Audit Unit (ISU) during 2012 and alerting the
Board of Commissioners to matters requiring their
attention.
Audit Committee
Discussing the audit methodology and monitoring

the progress of the audit of cthe 2012
consolidated financial statements conducted by an
external auditor.
Supervising the implementation of a special audit
of the SSWJ project.
Reviewing the companys observance of the
laws and regulations in the capital market
and other regulations and alerting the Board
of Commissioners to matters requiring their
attention.
Implementing specific tasks given by the Board of
Commissioners
Developing a work plan, and making periodic
reports on the implementation of the tasks of the
Audit Committee
The results of the analysis, assessments, advice and
recommendations of the Audit Committee related
to the performance of their duties, authority and
responsibilities are communicated to the Board of
Commissioners for their attention.
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196
Audit Committee
Audit Committee
Profile
Pudja Sunasa
Head of Audit Committee
Member of Audit Committee
M. Slamet Wibowo
For a complete biography, please
refer to the Profile of the Board of
on 19 January 1965. A member of the
on 28 October 1964. A member of
Commissioners.
Audit Committee since 1 March 2007.
the Audit Committee since 1 April
He was a research assistant at the
2007. His various positions include
Indonesian Institute of Management
accountant/consultant with Hanadi
Development from 1987 to 1988 and
Sudjendro KPMG, Public Accountants,
an Assistant lecturer at the Faculty of
The Flagler Management Group and
Economics, University of Indonesia
G. Fraley CPA. He became an Assistant
(FEUI) from 1987 to 1992.He has been
Lecturer at the Faculty of Economics,
a lecturer at the FEUI since 1992. He
University of Indonesian in 1987. He
holds a Masters in Economics from
holds a Diplme Europen de 3me
the Australian National University,
Cycle MATIS from the Confrence
and is currently doing doctoral
Universitaire de Suisse Occidentale
studies at FEUI, focusing on Industrial
and the Confrence Universitaire
Economics. He was Head of the
Rhne-Alpes as well as a Diplme
Research and Consultation Division
dEtudes Approfondies (DEA) from
at the FEUI Institute of Management
the Universit Pierre Mendes France
from 2000 to 2001 and served as
in Grenoble, France in Management
Deputy Head of the Institute from
Information Systems and an MBA from
2001 to 2004. He was seconded
the University of Missouri, Kansas City,
to the investment Coordinating
USA.
Board (BKPM) as head of the Data

Analysis Division from 2007 to 2008.
Since 2008 he has been Director of
Business Activities at the University of
Indonesia.
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197
Audit Committee
Imbuh Sulistyarini
Shalahuddin Haikal
Kebumen on 12 March 1971.
Yogyakarta on 14 April 1964.
A member of the Audit Committee
A member of the Audit Committee
since 1 April 2007. She has been
since 1 June 2008. He worked as an
a lecturer at FEUI since 1997, a
analyst for PT Danareksa Sekuritas,
consultant at the FEUI Institute of
PT Inter-Pacific Securities and PT
Management since 1997 and a
Bahana Securities. He has been
staff member at BHMN, University
a lecturer at the Department of
of Indonesia, since 2007. She was
Management, Faculty of Economics
appointed as deputy head of the
at the University of Indonesia. He
SMEs Center at FEUI in February 2008.
earned his LL.M from the School of
Since 2007, she has been an examiner
Law, Faculteit der Rechtsgeleerdheid
for the Malcolm Baldridge Criteria
at Erasmus University, Rotterdam in
for Performance Excellence for the
2005, specializing in Corporate Law,
Indonesia Quality Award. She holds
and holds postgraduate degrees in
a Masters in Accountancy from the
Management Accounting (1992) and
University of Indonesia.
a degree in Management (1989) from
the University of Indonesia.
Annual Report 2012
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Risk Management and Business

Expansion Monitoring Committee
198
Risk Management and Business Expansion

Monitoring Committee
The Companys Risk Management and Business Expansion
Monitoring Committee was established on the basis of:
1. The decision of the Board of Commissioners of
PT PGN (Persro) Tbk No. Kep-07/D-KOM/2012
dated May 29, 2012, on the Appointment of the
Chairman of the Risk Management and Business
Expansion Monitoring Committee, which confirmed
the appointment of Independent Commissioner
Mr. Widya Purnama concurrently as a Member and
Chairman of the Risk Management and Business
Development Monitoring Committee of PT PGN
(Persero) Tbk.
2. The decision of the Board of Commissioners of
PT PGN (Persero) Tbk No. Kep-09/D-KOM/2012
dated June 14, 2012, on the Appointment of
Members of Risk Management and Business
Expansion Monitoring Committee, which appointed
the following as members of said Committee:
M. Arsyad Rangkuti
Supriyanto, and
Wahyu Wijayadi.
The establishment of Risk Management and Business
Expansion Monitoring Committee was based on the
egulation of the Minister of State-Owned Enterprises
No. PER-01/MBU/2011 regarding the Implementation of
Good Corporate Governance in State-Owned Enterprises.
The Committee was established to assist the Board of
Commissioners in monitoring and evaluating the risk
management policy and the realization of the business
plan, and in evaluating planned business development and
expansion of the Companys business.
a. Duties and Responsibilities

The duties of the Risk Management and Business
Expansion Monitoring Committee according to the
Risk Monitoring and Business Expansion Committee
Charter include:
1. Assessing and recording the Board of Directors
commitment to the Board of Commissioners with
regard to Business Risks and Business Expansion
contained or referred to in the Corporate Longterm Plan (RJPP), RKAP, BOC Recommendations and
minutes of other meetings.
2. Evaluating and monitoring and providing input to the
Board of Commissioners on the implementation of
the BODs commitment with regard to business risks
and business expansion.
3. Designing and agreeing on the format and criteria for
the internal evaluation of the Risk Management and
Business Expansion Monitoring Committee, to be
reported to the Board of Commissioners.
b. Authority
To access company records or information, with
the approval of the Board of Commissioners, in
relation to the performance of its duties.
In implementing its authority, the Committee
may cooperate with relevant work units and
is required to maintain the confidentiality of
any documents, data and information on the
Company collected from internal or external
parties. All documents, data and information shall
be used only for the purpose of implementing the
Committees duties.
c. Composition
The membership composition of the Risk
Management and Business Expansion Monitoring
Committee, based on the decision of the Board of
Commissioners of PT PGN (Persero) Tbk No. Kep07/D-KOM/2012 dated May 29, 2012 is as follows:
Chairman: Widya Purnama / Independent
Commissioner
Member: M. Arsyad Rangkuti
Member: Supriyanto
(honorably discharged as of December 1, 2012)

Member : Wahyu Wijayadi
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d. Independence of the Committee

The Risk Management and Business Expansion
Monitoring Committee is chaired by an Independent
Commissioner and the three members are
professionals from outside PT Perusahaan Gas
Negara (Limited) Tbk. The Risk Management and
Business Expansion Monitoring Committee carries
out its duties and responsibilities professionally and
independently, without interference from any party
that is not in accordance with the legislation.
e. Frequency of Meetings
During 2012, the Risk Management and Business
Expansion Monitoring Committee met 5 (five) times,
with the level of attendance as follows:
ATTENDANCE OF THE COMMITTEE MEMBERs

Name
Meetings
Attended
%
Attendance*
Widya Purnama
100
Arsyad Rangkuti
100
Supriyanto*
100
Wahyu Wijayadi
100

f. Discharge of Duties
In 2012, the Risk Management and Business
Expansion Monitoring Committee conducted the
following activities:
Developing the Charter/Manual for the Risk
Management and Business Development
Monitoring Committee .
Asking the Director of Investment Planning and
Risk Management to explain the companys
investment planning and risk management.
Discussing the request for an additional equity
participation in PT PGASCOM.
Carrying out tasks assigned by the BOC in
connection with the Report on the Follow-Up of
IAU Actions on the Audit of the Human Resources
Division.
Brainstorming Gas for a Million Ministry
Households.
*Served as member of the Committee until 30 November 2012
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Widya Purnama
Head of Risk Management
Monitoring Committee.
Arsyad Rangkuti
Member of Risk Management
Wahyu Wijayadi
Member of Risk Management
For a complete biography, please
An Indonesian citizen, born in South
An Indonesian citizen, born in Tulung
refer to the Profile of the Board of
Tapanuli on 7 November 1955.
Agung on 27 April 1957. He became
Commissioners.
He became a member of the Risk
a member of the Risk Management
Management and Business Expansion
and Business Expansion Monitoring
Monitoring Committee on 14 June
Committee on 14 June 2012. He
2012. He graduated in Engineering
graduated in Electrical Engineering
from the University of North Sumatra,
from the Bandung Institute of
Medan in 1983 and earned an MSc
Technology in 1982 and earned his
from the University of Salford, UK
MBA from Institute Pengembangan
in 1994. He currently serves as
Manajemen Indonesia (IPMI) in 1989.
President Director of PT Transportasi
He has been a Director of PT Elang
Gas Indonesia and was Head of the
Mahkota Teknologi since 2009,
Operational Division at PT Perusahaan
and served as Corporate Service
Gas Negara from 2008 to 2010.
Director of PT Indosat in 2007 and as

Commerce Director of PT Indosat in
2006.
Annual Report 2012
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Remuneration and Nomination Committee

The Remuneration and Nomination Committee was
established based on the State Minister of SOEs
Decree No. Kep-117/M-MBU/2002 regarding the
Application of Good Corporate Governance Practices
in State-Owned Enterprises. The Remuneration and
Nomination Committee was formed to assist the Board
of Commissioners in carrying out their duties relating to
remuneration and nomination.
To make proposals to the Board of Commissioners
regarding the remuneration policy for the Board
of Directors, Board of Commissioners, Secretary of
the Board of Commissioners and other supporting
organs.
regarding the remuneration for the Board of
Directors, Board of Commissioners and the Secretary
of the Board of Commissioners.
To ensure that the compensation and remuneration
for the Board of Directors and Board of
Commissioners is applied in accordance with the
prevailing provisions.
To review the proposals on remuneration and
compensation packages, taking into consideration
any changes in economic conditions.
To review the Companys salary system if deemed
necessary.
regarding the division of tasks among the
members of the Board of Commissioners and their
appointment to the committees, the performance
assessment criteria for the Board of Commissioners,
as well as the performance assessment criteria for
the committees and for the members of the Board
of Directors.
With the Audit Committee, to make proposals to
the Board of Commissioners regarding the selection
criteria and procedures as well as the performance
assessment criteria and procedures for the Head of
the Internal Audit Unit.
regarding the selection criteria and procedures for
officers one level below the Board of Directors,
as well as the criteria for the reappointment of
members of the Board of Commissioners.
Remuneration and
Nomination Committee
201
b. Authority
To have access to corporate records and
information, with the approval of the Board
of Commissioners, that are related to the
implementation of the Committees tasks.
In exercising its authority, the Committee can work
with other related work units.
c. Composition
Membership of the Remuneration and Nomination
Committee
1 January 22 May 2012:
Chair
: Pudja Sunasa/Commissioner
Member
: Tengku Nathan Machmud/

Member
: Kiagus Ahmad Badaruddin/

Commissioner
The Remuneration and Nomination Committee
carries out its tasks and responsibilities
professionally and independently, without
intervention from any party that is not in
accordance with the rules and regulations. One
of the Committee members is an Independent
Commissioner.
For the period of 1 January 22 May 2012, the
Remuneration and Nomination Committee met
three times, with details of attendance as follows:
ATTENDANCE OF THE COMMITTEE MEMBERS

Name
Meetings
Attended
%
Attendance
Pudja Sunasa
100
67
67
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In 2012, the Remuneration and Nomination
Committee conducted the following activities:
Appointed an independent consultant to review
the remuneration of the members of the Board of
Directors and Board of Commissioners.
Discussed the results of the review by independent
consultant, Towers Watson, on the remuneration
for the members of the Board of Directors and Board
of Commissioners.
Submitted the proposed remuneration for the
members of the Board of Directors and Board of
Commissioners to the Board of Commissioners.
With the Board of Commissioners, discussed the
remuneration of the members of the Board of
Directors and the Board of Commissioners to be
proposed to the GMS.
The Board of Commissioners dissolved the
Remuneration and Nomination Committee on May
29, 2012.
Remuneration and
To review the type, extent and adequacy of the

Companys insurance coverage in relation to the
transfer of risks.
To assess the risk management system developed by
the Board of Directors and to assess the Companys
acceptable level of risk tolerance.
To continually evaluate the implementation of
insurance and risk management and to provide
input to the Board of Commissioners in relation to
such matters.
b. Authority
To have access to corporate records or information,
with the approval of the Board of Commissioners,
that are related to the implementation of its duties.
c. Composition
Membership of the Insurance and Business Risk
Committee:
1 January 22 May 2012 2011
Chair
: Megananda Daryono/Commissioner
Insurance and Business Risk Committee
(Resigned as of March 1, 2012, honorably discharged by the Annual
The establishment of the Insurance and Business Risk

Committee was based on the Decree of the Minister
of State-Owned Enterprises No. Kep-117/MMBU/
2002 regarding the Application of Good Corporate
Governance Practices in State-Owned Enterprises. The
Insurance and Business Risk Committee assists the Board
of Commissioners in making periodic assessments and
providing recommendations on the business risks and the
type and extent of the Companys insurance coverage in
relation to business risks.
General Meeting of Shareholders on May 22, 2012 )

To review the formulation of the systems for
planning and risk control with regard to business
decision-making, business development,
development of new projects and business
schemes, from both a commercial and a technical
viewpoint.
Member : Kiagus Ahmad Badaruddin/Commissioner

Member : Pudja Sunasa/Commissioner
Member : Widya Purnama/Independent Commissioner
The Insurance and Business Risk Committee carries
out its duties and responsibilities professionally
and independently, without intervention from any
party that is not in accordance with the laws and
regulations. One of the members of the Insurance
and Business Risk Committee is an Independent
Commissioner.
The Insurance and Business Risk Committee did not
hold any meetings in 2012
Annual Report 2012
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In 2012, the Insurance and Business Risk
Committee attended internal meetings with the
Board of Commissioners to give inputs related to
the Companys insurance and business risks.
The Board of Commissioners dissolved the
Remuneration and Nomination Committee on
May 29, 2012.
Good Corporate Governance Committee

The establishment of the GCG Committee was based on
the State Minister of SOEs Decree No. Kep-117/MMBU/
2002 regarding the Application of Good Corporate
Governance Practices in State-Owned Enterprises. The
GCG Committee was formed to assist the Board of
Commissioners in monitoring the effectiveness of the
Companys GCG implementation.
With the management, to evaluate the
implementation of GCG in the management of
the Company.
To ensure that all of the Board of Commissioners
decisions are consistent with the provisions of the
prevailing regulations and the decisions of the
GMS.
To evaluate and revise the Board Manual so that it
is aligned with any developments in legislation.
To ensure that the Board of Directors policies,
which must be approved by the Board of
Commissioners, have followed the communication
flow stipulated in the Board Manual.
To evaluate and give recommendations to the
Board of Commissioners on the number of
members and composition of the Board of
Commissioners.
203
Remuneration and
b. Authority
To have access to corporate records and information,
with the approval of the Board of Commissioners,
that are related to the implementation of the
Committees tasks.
c. Composition
Membership of the GCG Committee
Chair : Kiagus Ahmad Badaruddin/Commissioner
Member : Megananda Daryono/Commissioner
(Resigned as of March 1, 2012, honorably discharged by the Annual
General Meeting of Shareholders on May 22, 2012)
Member : Pudja Sunasa/ Commissioner

Member : Widya Purnama/ Independent Commissioner
The GCG Committee is chaired by a Commissioner.
In carrying out its tasks and responsibilities, the GCG
Committee acts professionally and independently,
without intervention from any party that is not in
accordance with the rules and regulations.
The Insurance and Business Risk Committee did not
hold any meetings in 2012.
In 2012, the GCG Committee attended meetings
with the Board of Commissioners discussing the
effectiveness of the implementation of Good
Corporate Governance in PT Perusahaan Gas Negara
(Persero) Tbk.
The Board of Commissioners dissolved the Remuneration
and Nomination Committee on May 29, 2012.
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Corporate Secretary
Function and Task of the Corporate Secretary
Corporate Secretary
The Corporate Secretarys function and responsibility is

the preparation of the policy, planning and control of
corporate communications, investor relations and the
secretariat of the Board of Directors.
In addition to the above, the Corporate Secretary is

responsible for:
Corporate Communications Division
Government Relations Division
Investor Relations Division
BOD Secretariat
Legal Basis of the Appointment of Corporate

Secretary
Since 1 December 2011, the Corporate Secretary position

has been held by Heri Yusup.
Pursuant to Bapepam Regulation IX.I.4 regarding the

Establishment of the Corporate Secretary and the
Decree of the Minister of State-Owned Enterprises No.
KEP-117/M-MBU/2002 regarding the Application of
Good Corporate Governance Practices in State-Owned
Enterprises in accordance to the decree of the Board of
Directors No. 006300.K/05.00/UT/2011 dated 29 April
2011, the Corporate Secretary has the following tasks:
To control the management of the communications
strategy in order to build a corporate image.
To act as the Companys representative and as
a liaison officer between the Company and all
its stakeholders in the prompt and accurate
communication of the Companys activities.
To control the management of the informationdisclosure mechanism for internal and external
affairs in line with the interests of the company and
stakeholders.
To control the delivery of information on the
Companys performance and corporate actions to
the capital market authority, the stock exchange
authority, investors, analysts and other markets.
To submit the Companys Annual Report and
Financial Statements periodically to the capital
market authority and the stock exchange authority.
To coordinate the organization of meetings of
the Board of Directors, meetings of the Board of
Directors with the Commissioners and the General
Meeting of Shareholders, as well as to control the
administration of the secretariat of the Board of
Directors.
Tasks performed by the Corporate Secretary

in 2012
Among the stakeholder engagement activities
implemented by the Corporate Secretary in 2012 were the
following:
1. Organizing the Annual General Meeting of
Shareholders.
2. Organizing/taking part in public events, media
site visits, analysts meetings, conferences, and
exhibitions.
3. Organizing press conferences and teleconferences.
4. Maintaining communication with the Ministry of
State-Owned Enterprises, Ministry of Energy and
Mineral Resources, the Department of Finance, the
State Secretary, BPH Migas, OJK, Self-Regulatory
Organizations (BEI, KSEI, KPEI), BAE and other
related institutions.
5. Organizing parliamentary hearings and official visits
by Parliament (DPR-RI).
6. Attending all BOC and BOD meetings and providing
the Minutes of Meetings.
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205
Corporate Secretary
Career History Of The Corporate Secretary

Indonesian citizen, born in Bandung on 8 February 1963. He was appointed as
the Corporate Secretary in December 2011. He began his career at the Company
as Assistant II for Legislation and Control Administration (1991), before becoming
Head of the Legal Department (2005), Head of the Legal Department and
Corporate Secretary (2008) and Head of the Corporate Legal Bureau (2009).
He has also served as a Commissioner of PT Transportasi Gas Indonesia since
November 2012.
Educational Background
Graduated from Padjajaran University, Bandung in 1987 with a degree in law
and earned a Masters degree from the Widener University School of Law, USA in
1999. He attended the Advanced Management Program at the Wharton School,
University of Pennsylvania, USA in 2006.
Information Disclosure
Heri yusup
Corporate Secretary
To comply with the regulations on information disclosure to public, the Corporate

Secretary, together with the units under the Investor Relations Division,
consistently submits reports to the capital market authorities, namely Bapepam-LK
and the Indonesia Stock Exchange (IDX).
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206
Investor Relations Activities in 2012

Since it was established in 2004, the Investor Relations
division has been the bridge between PGNs management
and investors and analysts seeking information about
PGN. Investor Relations introduces PGN to the capital
market community by engaging and communicating with
shareholders. To implement the principles of disclosure and
transparancy in all the Companys activities, particularly those
of a material nature, Investor Relations delivers balanced
information promptly through various communications media
such as email, the website, and conference calls.
Investor Relation Activities in 2012
The following investor relations activities were held

in 2012 to present and explain the Companys
ever-improving condition and achievements to
shareholders.
Description
Frequency
External Report
-Report to Bapepam-LK
-Report to BEI
52x
Non-Deal Roadshow and Conference
13x
Analysts Visit
91x
Investor Relations is a unit under the supervision of the

Corporate Secretary that interacts with the Board of
Directors and related Divisions in the Company to support
the disclosure of information about the Company. Investor
Relations also communicates opinions, inquiries, criticism and
advice from investors to the Management of the Company.
Conference Call:
- Global Conference Call:
- In house Conference Call:
27x
In addition, the Company regularly engages analysts and

investors through forums such as public exposes, analysts
meetings, conference calls, analysts visits, site visits,
participation in conferences and non-deal roadshows.
Site Visit
2x
GMS
2x
Public Expose
1x
Investor Summit
1x
Annual Report
1x
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207
Investor Relation Activities in 2012
During 2012, the Company attended 13 Non-Deal Roadshows (NDR) and

Conferences held by international securities companies such as Merryl
Lynch, UBS, Goldman Sachs, Macquarie, Morgan Stanley, Daiwa and Deutsche.
The Company also participated in an Investor Summit held by the Indonesia
Stock Exchange. The Investor Relations Division hosted 91 company visits
by analysts and fund managers in this country and abroad as well as 27
conference calls, including a Global Conference Call with PGNs Management,
facilitated by Thomson Reuters. Investor Relations consistently implements
the principles of transparency and disclosure to comply with the regulations
applicable to publicly listed companies.
NUSANTARA SUYONO
Head of Investor Relations
Analyst & Investor site visit to FSRU (Floating Storage and

Regasification Unit) Nusantara Regas Satu, Jakarta Bay in July 2012.
Annual Report 2012
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Internal Audit Unit

The internal audit function at PGN is performed by the
Internal Audit Unit (IAU). The IAU is led by the Head of
the IAU, who is appointed and dismissed by the President
Director, with the approval of the Board of Commissioners.
Number of EmployeeS IN THE Internal Audit Unit

Internal Audit Unit
Total Employees
Head of IAU
1 people
Senior Auditors
3 people
Line of Auditor
5 People
Auditors
8 people
Secretariat
5 people
Total Employees
22 people
Implementation of Duties and Responsibilities

in the Internal Audit Charter
In fulfilling its duties and responsibilities, the Internal Audit
Unit is guided by the Internal Audit Charter, which was
stipulated by Decree of the Board of Directors
No. 023105.K/PW.00/UT/2009 dated 11 December 2009.
The Charter broadly outlines the vision, mission, purpose and
objectives, scope, organizational structure, authority, tasks
and responsibilities of the IAU, as well as the requirements
and professionalism of the Auditors, the audit procedures
and the Internal Auditors Code of Ethics. The operational
implementation of the audit is based on the Internal Audit
Operational Procedures as stipulated by Decree of the Board
of Directors No. 001100.I/11/UT/2008 dated
21 April 2008.
Internal Audit Unit
The duties of the Internal Audit Unit include the following:

1. Preparing and implementing the Annual Audit Work
Program (PKAT);
2. Testing and evaluating the implementation of
internal controls and the risk management system in
line with Company policy;
3. Auditing and assessing efficiency and effectiveness
in the fields of finance, accounting, operations,
human resources, marketing, information
technology and other activities;
4. Providing suggestions for improvements and
objective information regarding the audited activities
at all levels of management;
5. Making reports on the results of the audits and
submitting them to the President Director and the
Commissioners;
6. Monitoring, analyzing and reporting on the
implementation of remedial actions and follow up in
the areas suggested;
7. Working with the Audit Committee;
8. Preparing a program to evaluate the quality of the
internal audits performed; and
9. Conducting special audits if required.
Internal Audit Unit (IAU) Activities in 2012

1. Regular Audits
In accordance with the 2012 Annual Audit Program
Work (PKAT) which was stipulated by Letter of the
President Director No. 001100.ND/ PW.01/UT/2012
dated 19 January 2012, six regular audits were
performed in 2012, as follows:
Annual Report 2012
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Internal Audit Unit
Auditee
Audit Period
PPJPGB Project
February April 2012
REVENUE RECOGNITION (Corporate) Div. of Marketing, SBU 1,

SBU II & SBU III
May - October 2012
OPERATIONAL AND MAINTENANCE (Corporate) Div. of

Operational, SBU I, SBU II, SBU III & SBU TSJ and Integrity
May - November 2012
PROCUREMENT OF GOODS & SERVICES (Corporate) Div. of

Logistic, SBU I, SBU II ,SBU III & SBU TSJ
July - November 2012
Internal Control System SBU II
2. Special Audits
In addition to the regular audits specified in the
Annual Audit Work Program, the following special
audits were conducted in 2012:
Special audit of PT PGN (Persero) Tbk Employees
Cooperative, through Special Assignment Letter
from the President Director No.002200.ST/PW.01.01
/UT/2012 dated February 2, 2012.
Responsibilities of the Internal Audit Unit

The responsibilities of the Internal Audit Unit cover the
following:
1. The Internal Audit Unit is responsible for carrying
out audits in accordance with the current audit
standards and Code of Ethics, allocating audit
resources effectively and efficiently, improving the
professionalism of the auditors and implementing
a quality assurance program for the tasks and
management of the Internal Audit Unit.
October November 2012
2. The Internal Audit Unit is responsible for maintaining

the confidentiality of data, documents and
information related to the audit implementation
and reporting the results of the audits in accordance
with the Companys policy on confidentiality of
information stipulated by the Board of Directors and
the Auditors Code of Ethics.
3. The Internal Audit Unit must obtain the President
Directors approval for the work programs and audit
development plans it has prepared.
4. The Internal Audit Unit must report any information
related to the current audit to the President Director.
5. The Internal Audit Unit Auditors are prohibited from
taking on concurrent duties, including operational
activities for the Company or any of its subsidiaries.
6
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Internal Audit Unit
INTERNAL AUDIT UNIT ORGANIZATIONAL STRUCTURE

STRUKTUR DAN KEDUDUKAN ORGANISASI SATUAN PENGAWASAN INTERN
Head
of Internal
Audit Unit
Secretary
Senior Auditor
for OSH &
Engineering
Auditor for
OSH
Ass. Auditor
for OSH
Auditor for
Engineering
Senior Auditor
for Operations &
Marketing
Auditor for
Marketing
Auditor for
Operations
Ass. Auditor
for SISTI
Ass. Auditor
for Operation &
Supply
Ass. Auditor
for Planning &
Construction
Ass. Auditor
for Maintenance
Ass. Auditor
for Sales &
Customer Service
Senior
Auditor for
Administration
Auditor for
Finance
Auditor for
Administration
Secretariat
Manager
Ass. Auditor
for Accountanting
Ass. Auditor
for General
Affairs
Compiling &
Reporting of
Audit Activities
Ass. Auditor
for Finance
Ass. Auditor
for HR &
Organization
Ass. Auditor
for Logistics
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Audit Information
System Development
& Follow-up
Status Control
211
Internal Audit Unit
Head of the Internal Audit Unit

The Head of the Internal Audit Unit from 1 October 2012 until 6 February
2013 was Bambang Wahyu Riyadi. As of 7 February 2013, the Head of
Internal Audit Unit is Pramono Harjanto.
Career History and Legal Basis of Appointment

An Indonesian citizen, born in Yogyakarta on 14 Agustus 1970. Graduated
from Gadjah Mada University in August 1996 with a degree in Economics.
Prior to his appointment in the Company, he served as Internal Audit
Senior Manager in PT Transportasi Gas Indonesia. Effective 7 February
2013, he was appointed as the Head of the Internal Audit Unit of PGN
based on the BOD Decree No. 001600.K/HK.00.01/UT/2013 dated 23
January 2013.
PRAMONO HARJANTO
Head of the Internal Audit Unit
Internal Audit Professional Certification

The Internal Audit Unit is supported by professional, certified auditors who
hold the following qualifications, among others:
5 auditors with PIA (Professional Internal Auditor) certification
issued by the Center for the Development of Accountancy and
Finance (PPA&K);
3 auditors with QIA (Qualified Internal Auditor) certification issued
by the Internal Audit Education Foundation (YPIA);
1 auditor who, in addition to being QIA qualified, is also a CIA
(Certified Internal Auditor), certified by the Institute of Internal
Auditors, and is a CRMP (Certified Risk Management Professional)
certified by the LSPMR (Risk Management Professionals
Certification Institute);
Several other auditors who have sufficient experience and are
working towards certification.
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212
Risk Management
Internal Control System
Risk Management
As stipulated in Article 26 of Minister of SOEs Regulation

No. PAER-01/2011 which replaced Minister of SOEs Decree
No. KEP-11/M-MBU/2002 regarding the Application of
Good Corporate Governance Practices in SOEs, PGN has
continued to develop its Internal Control System, using
the COSO (Committee of Sponsoring Organizations of
the Treadway Commission) approach to safeguard the
Companys investments and assets.
The Company applies the Good Corporate Governance

(GCG) principles of openness, accountability, responsibility,
independence and fairness in order to realize its vision and
mission. To do so, the Company must be able to manage
risks effectively and throughout the entire enterprise by
establishing risk management as one of the pillars of GCG.
The Company is therefore committed to applying risk
management consistently, with the support of adequate
infrastructure (organization, risk management governance,
and other supporting elements) as well as a conducive
internal environment.
The Internal Control System covers:

(i) The development of a disciplined and structured
internal control environment in the Company;
(ii) Review and management of business risks;
(iii) Control activities;
(iv) Information and communication systems; and
(v) Monitoring, these are elaborated further in the
form of policies, including guidelines, operating
procedures and work instructions.
Risk Management System
Evaluation of the Effectiveness of the

Internal Control System
The Companys Risk Management system has been

based on the COSO-ERM framework since the end of
2009. In support of this, the Company has developed
guidelines and operational procedures for risk
management that specify the roles and responsibilities
of each employee in the Company with regard to
managing risks. The Risk Management process in the
Company covers the following stages:
To evaluate the effectiveness of the internal control

system, the Company established an Internal Audit Unit.
The results of their evaluations provide a reference for
the Managements evaluation of the effectiveness of the
internal control system to determine what, if any, remedial
actions or updates of the system or policies are needed
to enable Management to run the Companys operations
more effectively.
1.
2.
3.
4.
5.
6.
7.
8.
Identification of risk appetite

Initiation of risk assessment
Goal setting
Risk identification
Risk evaluation
Formulation of risk management measures
Information and communication
Risk monitoring.
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The entire process above has been implemented fully

and continuously on the work programs of each unit
in the Company. All the results of those activities have
been documented in a Corporate Risk Profile report
and submitted to the Management to be uses as the
basis for decision making.
The Risk Management procedure above is also
used in the Companys strategic initiatives, starting
with Preliminary Feasibility Studies and Feasibility
Studies. The Company thus views risk management
as one of the aspects to consider when determining
the feasibility of a strategic initiative. If such an
initiative is executed, the Company will also utilize
risk management processes to make sure that the
objectives of the strategic initiative are reached.
In 2012, the Company strengthened the Risk
Management infrastructure by developing and applying
a Risk Management Information System (SIMR) based
on the GRC (Governance, Risk Management, and
Compliance) application. The SIMR has made the
processing of information from risk management
activities more efficient and effective.
The Company has also strengthened personnel
competencies by providing training on risk
management both for members of the Risk Champion
Teams (RCT) in each unit and for personnel in the
Risk Management Division. Coaching Clinics and
awareness raising events are held regularly by the Risk
Management Division for process owners in all units
to refresh and enhance their understanding of risk
management, and to foster a risk-aware culture
in each unit.
Risk Management
Risks and Mitigation Measures

In 2011 the Company assessed, mitigated and monitored
the risks inherent in all its operational functions and
strategic initiatives. There were no significant changes
in the potential risks inherent in the Companys business
activities compared to the previous year; the only changes
were in the level of risk or the mitigation plans in relation
to changes in internal or external conditions during
the year. The Companys key risk profile and mitigation
strategies are described below.
1. Country Risks
The Company is exposed to risks related to political,
macroeconomic and government dynamics at both
central and regional levels that could have a direct
impact on our rating. Political dynamics have the
potential to change political decisions, which can impact
the expected objectives and the value of an economic
action. The complexities in energy policy could
potentially constrain the Companys ability to realize
the planned investment that will help us to address the
changes in the business environment. In addition, the
local political situation also poses challenges for the
implementation of the Companys activities.
2. Development Risks
The Company is exposed to development risks due
to LNG floating storage terminal development in
Labuhan Maringgai, Lampung which potentially incur
additional expenses for FSRU modification and pipeline
to adjust with spesification on site. PGNs exposure
to development risks is affected by the governments
instruction to relocate LNG FSRU development in North
Sumatera to Lampung.
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214
3. Gas Supply Risks

The risk of a reduction in the supply of gas under an
existing contract can arise from a drop in the productive
capability of an old or marginal field. In addition,
the Company is also exposed to the risk of delays in
securing and negotiating contracts for new supplies or
extending existing contracts due to the Government
regulation that gives higher priority to the use of gas
for lifting oil and natural gas, fertilizer production, and
electricity generation.
4. Operational Risks
The transportation of gas (transmission or distribution)
exposes us to the risk of interruptions in the flow of
gas due to unscheduled maintenance on gas supply
facilities. Undersea currents and sea bed subsidence
that affect substructures are natural factors that could
disturb our gas transmission pipelines. Moreover, a
failure to channel all our gas supply as a result of
capacity limitations in gas-receiving facilities is another
potential risk inherent in our operational activities.
5. Currency Risks
Changes in global economic conditions give rise to
market movements (fluctuations in exchange rates
and interest rates) that could have downside risks for
the Company. The Company has loans denominated
in foreign currencies (non USD) that are influenced by
interest rates and exchange rates, which could increase
PGNs financial liabilities.
Risk Management
Creating broad-based initiatives to ensure the

Companys compliance with regulations, for example,
by reporting regularly to the regulator and taking
proactive measures to anticipate policy changes by
considering and implementing the relocation of gas
networks and facilities,
Creating opportunities through alliances and
partnerships in the form of joint ventures, taking into
account their economic and operational feasibility.
2. Measures to Manage Development Risks
The Company manages development risks by:
Working with international legal consultant and
experts in shipping, mooring and LNG in setting
up strategies of legal and commercial contract
to arrange negotiation with the provider of LNG
floating storage terminal.
Intensive discussion with the Projet Management
Consultant regarding technical specification of
pipeline and LNG floating storage terminal in
Labuhan Maringgai.
3. Measures to Manage Gas Supply Risks
The Company manages supply risks by:
Intensive coordination with gas suppliers and BP
Migas as the regulator with the aim of ensuring
continuity of supply for the Company;
Seeking new sources of supply to overcome
shortages and meet demand for gas, either
through conventional pipelines or other modes of
transportation such as LNG.
Measures to Manage Risk

1. Measures to Manage Country Risks
The Company manages country risks by:
Being actively involved in providing input to
stakeholders on the need for a consistent and
coherent energy policy in anticipation of limited
energy sources,
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215
4. Measures to Manage Operational Risks

The Company manages operational risks by:
Obtaining gas from other sources and regulating
the flow capacity to customers when there are
interruptions to supply due to unscheduled
maintenance;
Doing inspections using sonar scans and Remotely
Operated Underwater Vehicles (ROV) as well as
strengthening the undersea pipeline network;
Expanding the capacity of gas-receiving facilities in
order to optimize the flow of gas to customers.
5. Measures to Manage Currency Risks

The Company manages currency risks by entering
into hedging transactions to protect against
changes in the fair value of liabilities due to
fluctuations in the related foreign currencies.
Review on Risk Management System

Effectiveness
The Companys road map and blue print for the
implementation of risk management define the
stages of development of risk management in the
Company, along with the assessment of the maturity
level implementation, which is regularly evaluated.
Each maturity level, (i) Basic (ii) Mature and (iii)
Advanced, has clear requirements which must be
fulfilled.
Risk Management
In 2012, the Company evaluated risk management

maturity using the services of independent risk
management experts. The evaluation was conducted
by means of questionnaires, Focus Group Discussions,
and interviews with respondents drawn from staff,
junior management, heads of units and Directors,
using the COSO-ERM framework.
The results indicated that the Companys risk
management is Mature, stating that:
1. The Company applies a risk management approach to
its work programs
2. There are guidelines and operating procedures for risk
management
3. Risks are calculated and analyzed qualitatively
To improve risk management implementation in the
Company, the following activities were carried out in
2012:
1. Implementation of SIMR and awareness raising on its
use in all work units
2. Risk Management Study
3. Internalization risk management processes in all units
4. Regular internal monitoring of the implementation of
risk management
5. Updating of the risk management terms of
reference and formulating new TORs to support the
implementation of risk management processes.
6
Annual Report 2012
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Corporate Code Of Ethics

In developing GCG within the Company, PGN has
formulated several policies concerning corporate
ethics. PGN seeks to apply the highest ethical standards
throughout all its business activities, in line with the
vision, mission and culture of the Company, through
the implementation of Business Ethics and Work Ethics.
Business Ethics and Work Ethics are the attitudes and
behaviors that are demanded of and apply to every
member of the organization. The Company recognizes
that good relations between stakeholders and increasing
shareholders value over the long term can only be
achieved by conducting all business activities with integrity,
as set out in our Business Ethics and Work Ethics.
Content of the Code of Ethics

Business Ethics and Work Ethics are the norms, values and
actions that are considered by everyone in the Company to
be the ideal standards of behavior for the Company. These
behaviors must be developed on the basis of strong moral
values that are acknowledged and accepted throughout
the Company as the corporate culture.
1. Business Ethics
PGN businesses develop ethical guidelines that
are standards of behavior in business and guide
the company as an entity to interact and connect
with stakeholders. The application of business
ethics is expected to help the Company to improve
its performance by taking into account that the
interests of stakeholders are ethical and based
on the rule of law. Broadly speaking, business
ethics provide guidelines for standards of behavior
that must be adhered to when dealing with PGN
stakeholders, such as the disclosure of information,
equitable handling and fulfillment of the rights of
stakeholders, antitrust, human rights protection,
gratuities, protection of intellectual property rights
and others.
Corporate Code of Ethics
a. Some Business Ethics that apply to PGN workers :

Providing equitable remuneration, promotion,
and rewards to employees according to
performance, competence and loyalty;
Protecting the rights of workers to choose or
choose not to be members of trade unions;
Creating a work environment that is safe,
healthy, and free from all forms of pressure
and intimidation;
Implementing Collective Labor Agreements
(CLA) consistently.
b. Ethics of the Company with Customers
The Company prioritizes excellent service, quick
response and proactive attitude in dealing with
customers. Expected ethical behavior in dealing
with customers includes, among others:
A polite and professional attitude toward the
customer (with excellent service);
Delivering product information that is

complete and accurate, especially related to
the specifications and safety of services and
products;
Being proactive and responsive in
understanding and meeting the needs and
expectations of customers.
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217
c. Ethics of the Company with Goods and

Services Providers
The Companys procurement of goods
and services is based on the principles of
competitive, transparent, fair, reasonable and
accountable practices. Expected ethical behavior
in their dealings with suppliers of goods and
services, includes the following:
The selection of providers of goods and
services should be based on product quality,
after-sales service, warranties, performance
and track record with the interests of the
Company;
Respecting the mutual rights and obligations
under the agreement and statutory
provisions;
Maintaining open communication during
the procurement process with regard to the
fulfillment of the rights and obligations of
the parties;
Evaluating the suppliers of goods and
services and sanctioning those who behave
unethically.
d. Ethics of the Company with Creditors
The Company receives loans for the interests
of the business and to increase the Companys
value. Expected ethical behavior in dealing with
creditors includes the following, among others:
The selection of creditors is based on the
interests of the Company, taking into
consideration the benefits, costs and risks;
Respecting the rights of creditors, including
the right to obtain information on the use
of funds in accordance with agreement and
statutory provisions.
e.

Ethics of the Company with the Government

With regard to interactions with central and
local government, the Company maintains
a harmonious, constructive and respectful
relationship. Expected ethical behavior in
dealing with regulators includes, among others:
Developing relationships and good

communications with the regulators
to develop a business climate that is
healthy, competitive and strengthens the
competitiveness of the national economy;
Fulfilling all business and licensing
requirements professionally in compliance
with the prevailing laws.
f. Ethics of the Company with the Public
The Company implements social and
community programs to empower the
community and improve the quality of life and
to work together with government programs.
Expected ethical behavior in dealing with the
public includes:
Providing information and optimizing the
distribution of the Companys assistance
programs to the community;
Providing opportunities for people who
want to know about the activities of
the Company, within certain limits, and
promoting local products at Company
events;
Avoiding actions that lead to discrimination
based on race, religion or race, or between
groups.
g. Ethics of the Company with Shareholders
PGN is committed to improving value for
shareholders in accordance with the statutory
provisions. Ethical behavior in dealing with
shareholders includes:
Treating shareholders and investors fairly in
accordance with the number and type of
shares held, so that they can exercise their
rights in accordance with the Companys
articles of association and the prevailing laws
and regulations;
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218
Provide public information to shareholders in full,

accurately, promptly and accessibly in accordance
with the legislation on the one-door policy.
Every investor and shareholder must abide by the
provisions of the Articles of Association and all
decisions taken lawfully in the GMS.
All officials are required to

complete the State Officials
Wealth Report (LHKPN) and
submit it to the
Corruption Eradication
Committee (KPK)
h. Ethics of the Company with Natural Gas Suppliers

PGN realizes that the business of natural gas
transmission and distribution is closely linked to
the availability of natural gas from its suppliers.
The Company continues to make efforts to
establish harmonious and mutually beneficial
relations with our suppliers of natural gas.
Expected ethical behavior in dealing with a gas
supplier includes, among others:
Good, harmonious and mutually beneficial
cooperation in accordance with the provisions
of the gas purchase agreements and statutory
provisions;
Giving priority to negotiations for deliberation and
consensus in resolving disputes with natural gas
suppliers. Legal channels are the final resort in the
settlement of disputes.
2. Work Ethics
Based on the values of the corporate culture and the
principles of good corporate governance, PGN has
compiled the Code of Ethics as a guide for every
employee in PGN in the implementation of their duties
and responsibilities. The work ethics that apply to PGNs
employees include:
a. Individual commitment
Every PGN employee shall give his or her best to
support the achievement of PGNs objectives. This
commitment is realized through:
Continual improvement in work-related
competence;
Annual Report 2012
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219
Consistent completion of tasks, and responsibility

taken for actions;
Identification and development of methods to
make work processes more effective and efficient;
Initiative to implement the changes that add
value;
Priority given to the interests of the Company and
avoidance of possible conflicts of interest;
Compliance with policies, systems, procedures
and other applicable provisions;
Maintenance of all company resources in order
to maintain continuity of operations, safety and
health;
Active participation in and contribution to
the improvement of the natural and social
environment in the surrounding areas of
operation;
Providing the best service to internal and external
customers;
Identifying customer needs and maintaining good
relationships with customers;
Working professionally and with an awareness of
costs to deliver optimal performance;
All officers in the Company, including those
entering retirement, must complete and submit
the State Officials Wealth Report (LHKPN) to the
Corruption Eradication Commission (KPK).
b. Cooperation Among Employees
Be honest, courteous and respectful towards
fellow employees of PGN, and appreciate the
differences in gender, ethnicity, race, and between
groups;
Encourage mutual support among workers and
between units of work to improve the Companys
performance;
Communicate any new ideas and mutual transfer
of knowledge and skills.
c. Legal and Regulatory Compliance

PGN employees are required to comply with and
implement legislation and internal regulations
of the company. Compliance with laws and
regulations is realized through:
Compliance with the standards, norms, laws and
regulations that are applicable and relevant to the
activities of the Company;
Respect and obedience for the laws and
regulations related to human rights;
Compliance with regulations, systems and
procedures throughout the Company.
d. Conflict of Interest
Employees at PGN should avoid any situation
that could cause a conflict of interest between
their private interests and the interests of the
Company. Conflicts of interest are avoided by:
Not having a stake/ownership in business entities
as partners or competitors of the Company in an
amount that can affect decision-making. This also
applies to husbands/wives and children;
Not having a business that is directly related to the
Companys activities. This includes husband/wife
and children;
Not giving or receiving a loan from a provider of
goods/services or from customers;
Not abusing or misusing authority or using
facilities or means of the Company for the
personal gain of the worker or for any other party.
e. Receiving Gifts
Employees at PGN may not accept gifts/souvenirs/
gratuities of any kind related to their job positions
except:
Receiving entertainment in the form of a meal;
Receiving promotional items that include the logo/
company name of the giver.
Annual Report 2012
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220
f. Giving Gifts
PGN employees can give gifts/souvenirs and
entertainment to others on the condition that:
They are supporting the interests of the Company;
The gift is not intended as a bribe;
The gift has been budgeted by the Company.
g. PGNs Asset Protection
PGN employees are responsible for managing the
assets of the Company in accordance with the
objectives of the Company. This is realized through:
Being responsible for maintaining and securing
the Companys assets from loss or damage;
Conducting saving and efficiency in the utilization
of the Companys assets;
Being responsible for managing the Companys
assets and preventing their use beyond the
interests of the Company.
h. Data and Reporting
PGN employees are required to manage data, reports
and information as well as possible as an important
input in the decision-making process. This is realized
through:
Preparing reports based on information sources
that are reliable and accountable;
Presenting reports in a timely, correct, accurate
and communicative manner;
Not hiding data.
j. Occupational Safety and Health and

Environmental Management
Occupational Safety and Health and Environmental
Management (OSH&EM) is part of the culture. PGN
employee behavior associated with implementation
of (OSH&EM) is realized through:
Compulsory understanding of the situation and
condition of safety, occupational health and the
working environment and compliance with health
and safety and environmental regulations;
Response to incidents and emergencies caused
by security problems, accidents, pollution, natural
and other disasters;
Participation in creating a work environment that
is safe and healthy.
k. Political Activity
The Company gives opportunities to every employee
to channel their political aspirations, but if workers
decide to participate in practical politics they must
comply with current regulations. Ethical behavior
related to political activities includes, among others:
Not being a political party official, and not using
the facilities of the Company for the benefit of a
political party;
Not contributing in any way to a political party
outside the provisions of the legislation in force.
i. Maintaining the Confidentiality of Data and

Information
PGN employees utilize data and information of the
Company to increase the Companys value and
decision by:
Using an adequate data security system
Avoiding dissemination of data and information to
others who are not interested either during work
or after stopping work;
Handing over all data relating to the Company
when the term of employment ends;
Maintaining confidentiality of information about
consumers.
Annual Report 2012
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221
The Code of Ethics Applies to All Levels of the

Organization
Work ethics and business ethics must be implemented
consistently as part of the work culture in the day-to-day
operations of the Company. To support the application
of business ethics and work ethics, PGN has set out
procedures for disseminating and publishing these codes
as well as procedures for their application, reporting,
monitoring and evaluation.
Application and Enforcement of the Code of

Ethics
To further support the application and enforcement of the
code of ethics, PGN has formulated a number of policies
which are set out in guidelines and manuals, including the
following:
Corporate Governance Manual

The Corporate Governance Manual constitutes PGNs basic
guidelines for doing business. This manual also provides
guidance for all PGN employees on applying the principles
of good corporate governance in their work.
Board Manual
The Board Manual provides guidance for the Board of
Directors and Board of Commissioners on performing
their duties. Broadly speaking, the Board Manual outlines
the procedures for the working relations of the Board of
Directors and Board of Commissioners, including their
duties, responsibilities, ethics, authority and rights. The
Board Manual is based on the two-tier Board principle
applied under Indonesias corporate law, and refers to
the prevailing laws and regulations, PGNs Articles of
Association, resolutions of the GMS and best practices in
the implementation of good corporate governance.
Corporate Culture
Good corporate governance will be implemented
successfully if it is supported by a strong corporate culture.
The Company has therefore developed a corporate culture
founded on a series of principles collectively known as
ProCISE, or Professionalism, Continuous Improvement,
Integrity, Safety and Excellent Service. The ProCISE culture
has been disseminated throughout PGNs employees and
management, and change agents have been assigned to
support the internalization of the ProCISE values in each
individuals working activities. Every PGN employee has
signed the PGN Employees Culture Book as a mark of their
commitment to the application of the ProCISE values.
Code of Conduct
PGN has drawn up a Code of Conduct for its employees
based on the Corporate Culture and Values as well as the
principles of good corporate governance. This is issued as
the Employee Code of Ethics and the Leader Code of
Ethics.
The Employee Code of Ethics sets forth the conduct
expected of employees in their day-to-day work and the
procedures or rules for their interaction with stakeholders.
The Employee Code of Ethics also provides practical
guidance on dealing with conflicts of interest, corruption
management and so on. The Employee Code of Ethics
and the Leader Code of Ethics have been disseminated
throughout the company and must be adhered to by all
PGNs employees.
Annual Report 2012
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222
PGNs Culture
PGNs
Culture
The corporate culture represents the values and
philosophies that everyone in the Company has agreed
to accept as the foundation and reference for the
Company to achieve its goals. PGN has defined its
corporate culture in terms of five values, which are
abbreviated as ProCISE and articulated as the 10 Major
Corporate Behaviors.
ProCISE5 PGNs Corporate Values

Professionalism
Always giving the best results by improving relevant
competencies and being responsible for all decisions
taken.
Continuous Improvement
Committed to continuously seeking improvement.
Integrity
Honest with oneself and with others. Consistent in mind,
word and behavior by having a strong ethical core.
Safety
Always prioritizing health and safety at work, for oneself
and for the surroundings.
Excellent Service
Prioritizing satisfaction for both to internal and external
customers by giving excellent service.
Annual Report 2012
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PGNs 10 Major Behaviors
PGNs 10 Major
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Annual Report 2012
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224
Stock Ownership by Employees

or Management
Stock Ownership by Employees or Management

Since the Companys stock (PGAS) was offered to the public and listed on the Stock Exchange, the Company has offered a
Management Stock Option Program (MSOP) and an Employee Stock Option Program (ESOP), which comprise three phases.
MSOP Phase 1, with a window period of 2005-2006 and an exercise price of Rp 1,500. This resulted in 108,024,675 shares
listed on the Jakarta Stock Exchange.
MSOP Phase 2, with a window period of 2006-2007. Of the allocated 54,012,338 shares, 53,930,825 shares were listed on
the Jakarta Stock Exchange and the remaining shares were accounted for as treasury stock.
MSOP Phase 3, which by the resolution of Extraordinary General Meeting of Shareholders on 17 November 2006 transferred
54,012,338 shares previously allocated to the MSOP to the ESOP at an exercise price of Rp 10,503 per share. The window
period was divided in to three: 15 February - 1 March 2007, 15 July - 14 August 2007 and 15 January - 14 February 2008. In
total, 53,551,388 shares were listed on the Indonesia Stock Exchange.
SHARE OWNERSHIP BY DIRECTORS AND COMMISSIONERS AS OF 31 DECEMBER 2012

Name
Position
Number
of Shares
%
Shares
Bayu Krisnamurthi
0%
M. Zamkhani
Commissioner
0%
Kiagus Ahmad Badarudin
Commissioner
0%
Bambang Dwijanto
Commissioner
0%
Pudja Sunasa
0%
Widya Purnama
0%
Hendi Prio Santoso
President Director
0%
0%
Hendi Kusnadi
Director of Human Resources and General Affair
0%
Djoko Saputro
140,500
0,0005796%

Risk Management
30,000
0,0001238%
Mochtar Riza Pahlevi Tabrani
Director of Finance
0%
Annual Report 2012
energy for life
225
Stock Ownership by Employee

or Management
The majority of PGNs gas transmissions go to power generation for industry. Indonesias industrial expansion has been
fueled with reliable energy and predictable pricing. Pictured here PT Gajah Tunggal and PT Satyaraya Keramindoindah
factories employ more than 20,000 jobs for Indonesias economy.
Annual Report 2012
energy for life
Whistleblowing System
The Company is currently developing a Whistleblowing
System that will regulate the mechanism for reporting
suspected illegal or unethical behavior in the Company
as articulated in the Corporate Governance Manual,
which was endorsed by the President Director pursuant
to Board of Directors Decree No. 006901.K/OT.01/
UT/2012 dated 06 March 2012. PGN will formulate the
provisions of the whistleblowing system by referring to
the Whistleblowing System (WBS) Guidelines issued by
the National Governance Policy Committee (KNKG) in
2008.
According to the Whistleblowing System Guidelines
issued by the KNKG, the scope of a WBS includes:
1. Structural aspects, which contain elements of the
infrastructure of the reporting system for illegal or
unethical behavior;
2. Operational aspects, which are related to the
mechanisms and procedures of the reporting
system; and
3. Maintenance aspects, which ensure that the
reporting system can be sustained and made more
effective.
Reports of Violations
Referring to the Guidelines for Good Corporate
Governance authorized by the President Director by BOD
Decree No. 006901.K/OT.01/UT/2012 dated March 6,
2012, the Company has formulated provisions governing
the reporting mechanism for alleged irregularities in the
Company (Whistleblowing System).
Protection for Reporters

Each report must state the identity of the reporter.
PGN will protect the identity of the reporter unless:
1. He/she is needed in relation to a report or
investigation by the Government;
2. His/her identity must be disclosed in the interests of
the Company and in accordance with the objectives of
the Corporate Governance Manual;
3. He//she is needed in a legal process.
226
Whistleblowing System
Handling of Reports of Misconduct or

Violations and the Parties that Manage
Them
As an Indonesian state-owned enterprise, in 2012 PGN
implemented Law No. 28/1999 regarding Law
No. 28/1999 regarding State Operators that are Free
from Corruption, Collusion and Nepotism by requiring all
PGNs officials to disclose their wealth.
1. Implementation of Corruption Prevention
Measures and LHKPN Reporting for Officials from
Junior Management Upwards
In the implementation of GCG (Good Corporate
Government) and to support the Government
in organizing a state that is clean and free from
corruption, collusion and nepotism, PGN requires all
officials to submit the State Officials Wealth Report
(LHKPN). This was stated in the Decree of the Board of
Directors in 2009 and was reinforced in 2012.
The BOD Decree defined that officers who are
required to submit the LHKPN report are PGNs
Directors and Commissioners, Vice Presidentlevel officials, officials at the level of assistant Vice
President, officials at the manager level, assistant
manager level, supervisor level and those who are
posted in PGNs subsidiaries.
To educate all PGNs officials who are required
to submit the LHKPN, PGN and the KPK held a
joint program on corruption prevention as well as
information and technical assistance on completing
the LHKPN form. The program was held in four (4)
units: SBU 3 on 17 July 2012, SBU 2 on 19 July 2012,
SBU 1 on 24 July 24 2012 as well as Head Office, SBU
TSJ and Project Unit on 31 July 2012.
Annual Report 2012
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227
Court Cases Involving PGN
In addition to technical assistance and socialization, PGN and KPK also held a joint program on Training of Trainers
on 25 September 2012. The training is intended to give the participants more detailed guidance to the compulsory
LHKPN.
PGN has reached 90% of LHKPN reporting target. This achievement shows awareness of PGNs employees on the
importance of any corruption eradication as stated in KPK slogan: If clean, why should feel uncomfortable, Dare to
be honest is great!.
2. Implementation of Risk Containtment Audit (RCA)
In additon to implementation of LHKPN, PGN also conducted Risk Containment Audit as part of GCG practices to
achieve zero incident target by eliminating and minimize unsafe situations or acts.
RCA is conducted regularly to identify and report risks of activities and the violation against regulation and procedure
through Information system of K3PL (Occupational Safet and Helath Environment Management) Division. The report
will be managed by Admin who will calculate the severity level and forward the results to the concerned Division.

The Company was involved in six court cases until December 6, 2012. These included both new cases, ongoing cases and
cases that are unresolved and/or had legal force in the previous year as follows:
Claim on Pipeline Protection Connection Design
Case No
73/D.I/2012/PN.Niaga.Jkt.Pst
Agency
Commercial Court at the Central Jakarta District Court
Parties
Rimba Aritonang (Plaintiff) against PGN (Defendant)
Claim Value
Rp132,394,438,000
Resume
This lawsuit was submitted by a retired employee of PGN related to the claimed
ownership of the industrial design of a pipeline protection connection. The
Plaintiff claimed ownership of the pipeline protection connection design that he
designed when he was working at PGN. In addition, the Plaintiff also claimed that
PGN has used the pipeline protection design without his permission as the holder
of the Certificate of the Right to an Industrial Design.
Update
On November 14, 2012, the Plaintiff registered his suit with the clerk of the
Commercial Court at the Central Jakarta District Court. As of December 6, 2012,
this case is still being investigated by the Commercial Court at the Central Jakarta
District Court.
Impact on the Company
This case had no significant effect on the Company
Annual Report 2012
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228
Appeal of PT Indosat
Case No
665/Pdt.G/2010/PN.Jkt.Bar
Agency
DKI Jakarta High Court
Parties
PT Indosat Tbk (Plaintiff)

Opposing
PGN (Appellee I)
PT Nindya Karya (Appellee II)
PT Citra Panji Manunggal (Appellee III)
PT Promatcon Tepat Guna (Appellee IV)
Claim Value
Rp4,065,814,002.38
Resume
This case is an appeal against the verdict of the West Jakarta District Court
Number: 665/Pdt.G/2010/PN.Jkt.Bar which acquits Defendant I (PGN) of
responsibility for the fiber optic damage. The lawsuit submitted by the plaintiff
(now the Appellant) is related to the alleged damage to the Fiber Optic cable
along the Bandar Lampung-Merak-Jakarta (BALAMAJA) route, belonging to
the Appellant in the Province of Banten, which was caused by work on the
development of PGNs West Java Distribution Pipeline Network by Defendants II-IV
Update
As of December 16, 2012, there has been no relaas (Summons) or other official
announcement regarding the Appeal that was filed by the Appellant as described
above.
Annual Report 2012
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229
Appeal of Suib
Case No
06/Pdt.G/2001/PN.KTL
Agency
Supreme Court
Parties
Suib et al. (Appellant)

Opposing
PGN (Appeal Respondent)
Claim Value
Rp102,943,000
Resume
The Appellant filed a claim in relation to the acquisition of land for the ROW for
the Grissik-Singapore natural gas transmission pipeline in Tanjung Jabung Barat
Regency, Province of Jambi.
The Appellants claim that they have not received compensation for their land
which has been used by PGN for the aforementioned ROW.
On April 22, 2002, the Kuala Tungkal District Court rejected the Plaintiffs claim
in its entirety. The plaintiff appealed to the Jambi High Court. On August 14,
2002, the Jambi High Court gave a verdict that reinforces the Decision of the
KualaTungkal District Court and on September 19, 2002 the Plaintiff appealed to
the Supreme Court.
Update
As of December 6, 2012, this case was still being investigated by the Supreme Court.
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appeal of Alimuddin
Case No
01/Pdt.G/2004/PN.BU
Agency
Supreme Court
Parties
Alimuddin (Appellant)
Opposing
Raden Intan (Appeal Respondent)
PGN (Co-Appeal Respondent)
Claim Value
Rp487,500,000
Resume
A lawsuit was filed over ownership associated with an area of 4,650 hectares of
land in Negeri Besar District, Way Kanan Regency, Province of Lampung, through
which the SSWJ Transmission Pipeline passes.
PGN is involved in this case because it is the party that will make payment to the
party that wins this case. For this purpose, PGN has deposited a sum of money
(consignatie) with the Blambangan Umpu District Court in the amount of the
claim. The Panel of Judges at the District Court decided that the Appellant was
the owner of the disputed land. This verdict was canceled by the Tanjung Kalang
High Court. The Appellant then appealed to the Supreme Court.
On June 25, 2008, the Supreme Court rejected the claim with Verdict No: 1471 K/
Pdt/2007 and ordered the Appellant to pay the court costs.
Update
Although the verdict has been given, the appeal decision does not mention the
party entitled to the land, so the payment cannot be processed yet.
As of December 6, 2012, there has been no further development in this case.
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Appeal Of KPPU (Business Competition Supervisory Commission)

Case No
001/Pdt.P/KPPU/2011/PN.JKT.BAR
Agency
Supreme Court
Parties
PGN (Plaintiff)
PT Kelsri (Co-Plaintiff)
Opposing
Business Competition Supervisory Commission/KPPU (Appeal Respondent)
Claim Value
Rp6,000,000,000
Resume
PGN filed an Objection against the Decision of the KPPU which stated that PGN
and PT Kelsri had violated Article 22 Law No. 5 year 1999 regarding the Prohibition
on Monopolistic Practices and Unhealthy Competition. In that verdict, PT. Kelsri
was required to pay a Rp. 4,000,000,000 fine and PGN was required to pay Rp.
6,000,000,000.
Update
On June 19, 2012, PGN and PT Kelsri filed a claim against the verdict of the West
Jakarta District Court.
As of December 6, 2012, this case was still being investigated by the Supreme Court.
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Appeal of CRW Arbitration

Case No
18272/CYK
Agency
International Chamber of Commerce, International Court of Arbitration
Parties
PGN (Plaintiff)
CRW Joint Operation (Claimant)
Opposing
PGN (Respondent)
Claim Value
USD17,298,834.57
Resume
This case began with a verdict of the Dispute Adjudication Board #3 (DAB#3) on
November 25, 2008 which ruled that CRW Joint Operation was entitled to receive
a payment of USD 17,298,834.57 in relation to the installation of a gas pipeline
located in Grissik-Pagardewa pursuant to contract No. 002500.PK/243/ UT/2006 as
amended by No.002000.AMD/HK.02/UT/2008 dated October 24, 2008. PGN filed
Notice of Dissatisfaction against the DAB Verdict.
Update
On November 3, 2011, PGN received a letter from the ICC Secretariat dated
November 1, 2011 giving notice of a Request for Arbitration from CRW Joint
Operation to PGN through CRW Joint Operations attorney Drew & Napier in
accordance with the letter dated October 28, 2011 to settle the issue. On the
October 12, 2012, CRW filed a Claimants Application for an Interim/Partial
Award. In response to the Application filed by CRW, on November 26, 2012 PGN
submitted a Submission of the Respondent Against the Application for an Interim
Award. As of December 6, 2012 this case was still being investigated by the ICC.
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Court Cases Involving PGNs Subsidiaries
Court Cases Involving PGNs Subsidiaries

As of 6 December 2012, the Companys subsidiaries had been involved in only one court case. This was an ongoing case
that was unresolved and/or had legal force in the previous year :
PArbitration Case against PT Global Industries Asia Pasifik(GIAP)
Case No
18272/CYK
Agency
MPG/AJP/AARB/JJMC/VINB/RRRG (CAP 143 A)
Parties
PT Global Industries Asia Pasifik (Claimant)

Opposing
PT Transportasi Gas Indonesia (Respondent)
Claim Value
USD18,772,656
Resume
The case originated from a claim submitted by PT Global Industries Asia Pasifik
(GIAP), a contractor of PT Transport Gas Indonesia (Transgasindo),related to
the Contract No. ISVC 008260 for EPCC for an Offshore Pipeline RepairProject
with a claim value of $18,772,656.
On 24 November 2011, GIAP filed a Statement of Case with the Singapore
International Arbitration Centre (SIAC) and Transgasindo responded by filing a
Statement of Defense on March 2, 2012. This was followed by the submission of
the Statement of Defense to Counter Claim the Statement of Defense by GIAP on
May 4, 2012.
During the arbitration process, on 26 September 2013, Transgasindo and GIAP
tried to settle the case amicably and agreed to the final calculation of GIAPs claim
in the amount of USD 6.9 million.
With the agreement on the final calculation of GIAPs Claim, Transgasindo and
GIAP signed a Consent Award, which was approved by the Tribunal on October
24, 2012.
Update
On 12 December 2012, Transgasindo paid the amount of USD 6.9 million to GIAP.
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Access To Information
Information regarding Administrative Sanctions

In 2012, no administrative sanctions were imposed by the Capital Market Authority or any
other authority on PGN, members of Board of Commissioners or members of the Board of
Directors.
Access to Information
To facilitate stakeholders access to information, PGN is continually updating its information
delivery facilities and infrastructure. Additionally, PGN consistently strives to strengthen its
information technology platform to safeguard and improve reliability and ensure the integrated,
timely and accurate provision of information through its website, www.pgn.co.id, and the
Ministry of SOEs portal.
In compliance with information disclosure requirements, PGN also consistently reports material
information and facts to the capital market authorities both in writing to Bapepam-LK and
through electronic reporting to the Indonesia Stock Exchange. PGN is also proactive in giving
notice of all corporate actions through press releases in Indonesian and English, and these
releases can also be downloaded from the PGN website.
Customers and prospective customers can obtain further information about PGN by sending
an email to contact.center@pgn.co.id or by contacting the Contact Center on 0800 1500 645.
Investors, analysts and shareholders can contact Investor Relations directly by sending an email
to investor.relations@pgn.co.id or calling (6221) 6334838.
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Corporate Social and

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Corporate Social
and Environmental Responsibility
237
Corporate Social
Responsibility
We believe
that by fulfilling our
social and environmental
responsibilities fully and
accountably, PGN will be
welcomed by communities
and other stakeholders
Individual Performance System

Aligning employees performance
with our Strategic Business Priorities
33,968,224
Safe working hours
5.12
(Likert Scale 1-6)
Customer Satisfaction Index score
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Social and Environmental Responsibility is the

Companys commitment to participating in sustainable
economic development to improve the quality of life
and the environment, both for the company itself, the
local communities, society, and for future generations.
In its role as an agent of development, PGN is
involved in the governments efforts to create a
prosperous society, through the implementation
of various environmental, social, and community
develpment programs.
After developing Kampung Binaan Pagardewa in 2011,
PGN developed Kampung Binaan Tenun Garut in 2012
a continuation of its commitment to Social and
Environmental Responsibility activities.
Our Definition of Social and Environmental

Responsibility
PGN has adopted the definition of Social and
Environmental Responsibility (SER) articulated in Article
1(3) of Law No. 40 of 2007 regarding Limited Liability
Companies. In 2012, the implementation of SER was
re-affirmed through Government Regulation
No. 47/2012, as mandated by Law No. 40 of 2007.
Social and environmental responsibility is more
commonly referred to by the international community
as Corporate Social Responsibility (CSR). For PGN as a
listed company, SER is a synonym for CSR. As defined
by the international community, CSR involves not
only charitable donations, but also takes in broader
concerns, such as environment, respect for human
rights, the obligation to provide a safe and healthy
workplace and maintain good working relations with
the employees, health and safety in the workplace
and participation in local economic and community
development.
The implementation of CSR in PGN is based on our CSR
concept, PGN Share:
Contribute to the improvement of community
WELFARE
Build HARMONIOUS relations with stakeholders;
Ensure the sustainability of the Partnership Program
and the Community Development Program as a
MANDATE;
Be RESPONSIVE to social concerns;
Show EMPATHY for social concerns.
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Scope and Funding of SER

The scope of SER can be divided into two parts: CSR,
which is funded by the Corporate Plan and Budget and
(PCDP), which is funded by an allowance from the
Companys net income each year.
SER activities are implemented through the day-to-day
activities of each work unit, which are regulated by the
Company Rules and the implementation of various
provisions and regulations, such as the laws on the
environment, labor, oil and gas, and so on. These
activities include environmental responsibility,
labor, occupational health and safety, and product
responsibility.
PCDP is packaged into various programs that are
managed by a separate work unit, the Social and
Environmental Responsibility Division, which reports
to the Director of Finance. Broadly, the program covers
partnership and community development activities and
SER activities.
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Environmental

Responsibility
In addition
to environmental
transformation, PGN,
through its Community
Development and CSR
Programs, is also undertaking
a number of activities
aimed at environmental
conservation
The environment around PGNs gas station in

Bojonegara, West Java, is conserved in line with
PGNs commitment to responsible stewardship of the
environmental quality in the vicinity of PGNs operational
areas.
Photo by:
Iwhan Agung Wibowo, Sumatra-Java Transmission SBU
Photo title: Providing a Clean Environment
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Policy
PGNs commitment to environmental responsibility is
fulfilled through various programs attached to and
managed by each of the functions in the specific work
units, namely the Occupational Safety and Health and
Environmental Management (OSH&EM) Division and
the SER Division.
In 2012, PGN renewed its vision, policy and
commitment on OSH-EM and in particular on managing
the environment. PGN is endeavoring to create
sustainability not only by its commitment to safety,
health and the environment, but by actively optimizing
energy use as an integral part of this.
The environmental and energy policy will be integrated

with the OSH&EM policy. The new policy, the
Occupational Health and Safety and Environmental and
Energy Management System (OSH&EEM) policy aims
to position PGN as an energy company with a vision
of zero incidents in safety, health, environmental and
energy management. PGN has set zero targets for
deaths, illness and environment pollution caused by the
operation of our business. To achieve these targets, we
have made a commitment to:
1. Implement the Occupational Safety & Health and
Environmental & Energy Management (OSH&EEM)
system and comply with the applicable laws and
other requirements.
2. Take proactive and preventive action to create an
environment that is safe, hygienic, non- polluting
and energy efficient
3. Make efforts to conserve energy to make energy use
more efficient
4. Provide guidance for all employees by conducting
continuous OSH&EM education and training and
embedding a culture of reward and punishment
5. Investigate every incident, work accident and workrelated illness as well as environmental pollution and
ensure that the results are used to take preventive
action
6. Evaluate the performance of OSM&EM system
regularly to ensure continuous improvement.
7
Framed copies of our Environmental Policy
statement appear in every department in
the entire company
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The use of environmentally friendly energy.
Program Activities
In response to climate change, PGN has established an

environmentally friendly policy, and it encourages its
business partners and the community to participate in
the implementation of its environmental conservation
program. In its operations, such as operating
compressor turbines, PGN uses natural gas, which is
more environmentally friendly source of energy. The
Company also utilizes natural gas as a coolant in place
of Freon, which is environmentally unfriendly.
In line with our vision and mission, the development

of environmental and energy legislation in Indonesia,
as well as the global situation, PGN is undertaking
an environmental transformation throughout the
company, aimed at making PGN an environmentally
friendly company providing green and clean energy for
life.
Use of materials
In developing its distribution and transmission network,
the Company uses pipelines made of steel or plastic
PE materials with a carefully calculated thickness.
The pipelines are protected by PE linings and other
protectors, making it anti-rust and durable enough to
withstand long-term burial in the ground (for around
30 years) with a minimal impact on the environment.
Waste management
PGNs operations do not generate liquid waste, solid
waste, or air pollution that directly endangers the
environment. The materials used to filter out impurities
are disposed of in compliance with the regulations so
as not to pollute the environment.
When paper is used in operations, PGNs policy is to
recycle waste paper to make other materials. PGN
is also working with other parties to implement this
policy.
To establish this ongoing environmental transformation

as part of our new work culture, PGN is making
changes in its environmental and energy management
through the application of an integrated Environmental
and Energy Management System as well as the
formulation of PGNs Environmental Transformation
Road Map.
PGNs environmental transformation comprises the
following activities:
a. Energy Audit at Head Office, SBU Distribution 2 and
SBU TSJ. An Energy Audit is the ideal instrument to
analyze energy usage and consumption through:
Energy consumption inventory;
Energy consumption analysis;
Identification of energy conservation
opportunities; and
Energy management improvements (usage
management system).
PGNs conservation programs protect the environment

and help save natural resources and energy resurces
and other.
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The purpose of the energy audit is to identify

opportunities to increase energy efficiency.
The implementation of the energy audit
recommendations has the following sustainability
impacts:
Decreasing energy costs;
Improving energy management systems and
eventually achieving the level of green
energy use
Identifying places/facilities with the greatest
energy use;
Demonstrating concern about energy costs;
Identifying places/facilities that are energy
intensive (low efficiency); and
Enhancing employees understanding and
awareness of energy saving and changing energy
habits
Implementation of Environmental Management
System
Carbon Accounting
b. The formulation of PGNs Environmental

Transformation Roadmap 20132017.
The Environmental Transformation Road Map for
20132017 is based on PROPER rating targets. In
principle, therefore, the 20132017 Environmental
Transformation Road Map is the continuation of the
Goals, Objectives and Programs that have already
been set. At the initiation phase, the environmental
programs in 2012 focused on preparing the systems,
infrastructure, human resources and other resources
needed to attain the Blue PROPER rating in 2013,
namely compliance with environmental regulations.
At a next stage, the plan is to develop more
advanced programs to achieve the Green (beyond
compliance) rating between 2014 and 2016 and the
Gold (environmental excellence) rating in 2016 or
2017.
Environment Transformation Road Map
ROAD MAP OF ENVIRONMENTAL TRANFORMATION
Energy Conservation
Air Pollution
ISO 14001
B3 Waste
AMDAL/
UKL-UPL
CSR
BLUE
PROPER
2013
3 R B3 Wasted
(reduce, reuse, recycle)
3 R Waste
GREEN
PROPER
(Compliance)
GOLD
PROPER
(Beyond Compliance)
2014
2015
Water Conservation
(Enviromental Excellence)
2016
2017
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7
Corporate Social
244
c. Carbon Accounting
Carbon calculators have been developed by various
organizations, based on lifestyles, technology and
habits in developed countries, particularly in Europe
and North America. The emissions used are also
more relevant to technology developments in those
countries. Thus many of the features or activities in
these calculators are not relevant or appropriate to
day-to-day conditions in developing countries.
The carbon calculator developed by PGN is part
of the environmental transformation we are
undertaking. This carbon calculator covers emissions
from energy consumption, including electricity
from PLN and from our on generators, as well as
emissions from the use of operational vehicles.
d. AMDAL and UKL-UPL Implementation

Evidence of the environmental management
practices in PGN can be seen in the
implementation of the Environmental Impact
Analysis or AMDAL and the reports on the
Environmental Management Plan (RKL) and
Environmental Monitoring Plan (RPL) and
the Environmental Management Program/
Environmental Monitoring program (UKL/
UPL). In 2012, in compliance with government
regulations, PGN prepared several environmental
documents:
1. A MDAL for the LNG FSRU Lampung
2. UKL-UPL for the Terbanggi Besar Gas
Compressor Station, Lampung
3. UKL-UPL for the Tandes Gresik distribution
pipeline, East Java
4. UKL-UPL for the Jalur Sampurna distribution
pipeline, East Java
5. UKL-UPL for the distribution pipeline from
Muara Karang, Jakarta to Muara Bekasi, West
Java.
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e. Training
To ensure the success of the environmental
transformation, PGN provided training for its
employees, including:
1) Training on Energy Audit Introduction, Carbon
Accounting, PROPER
2) SML-E Training
3) Preparation of environmental documents and
their consequences
4) Hazardous and toxic (B3) waste and B3 waste
management.
In addition to the environmental transformation,
PGN also implemented various environmental
conservation activities using Environmental
Development and CSR Program funds amounting to
Rp9,492,994,880.
In 2012 these activities included:
Planting of 41,000 mangrove trees in reforestation
zones on the Sedyatmo Toll Road in Muara Angke
Kapuk, Jakarta, and in Karawang, Cirebon, coastal
areas near Medan, Surabaya, Sidoarjo, Pasuruan and
other cities. This was carried out in collaboration
with local universities such as IPB, USU and ITS as
well as the Rumah Mangrove Consortium.
Continuation of the integrated waste management
program, which processes waste into compost in
accordance with Ministry of Environment policy. The
program has been carried out since 2011 in 5 cities
(Batam, Palembang, Lampung, Bogor and Surabaya),
and has had a positive impact on stakeholders.
For the communities, the program creates job
opportunities, while for the environment, it reduces
the transportation of waste to Waste Disposal Sites.
For the country, it contributes to the achievement
of the target of reducing trash in the country by 7%
annually.
Planting some 460,000 trees in the Sentul ECOEDU Tourism Forest. This was a collaboration with
Perum Perhutani on the Reforestation and Greening
program to accelerate improvements in the
quality and productivity of forest and environment
resources, by developing buffer zones and education
and ecology-based tourism areas.
Development of waste disposal areas and greening
activities at the Rawamaju Offtake, Bekasi.
Regreening program at IPBs Desa Longkar campus
in collaboration with LPPM IPB, involving the
communities in the vicinity of the campus in raising
awareness of the need for nature and biodiversity
conservation through the cultivation of endemic
fruit plants.
These activities are the tangible results of PGNs

contribution to nature conservation, and they are
making a positive impact on the environment and
addressing global warming and climate change.
Hopefully, this will inspire the community, and
particularly our employees, to be more aware of the
importance of a clean and healthy environment.
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Expenditure on Environmental Activities

Expenditure on environmental activities during 2012 amounted to Rp.14,670,751,381, and covered
environmental conservation, environmental management and monitoring, preparation of environmental
documents, environmental campaigns, and hazardous and toxic waste management.
No
Actvity Description
Environmental Conservation
Total
USD*
a.
Infiltration Wells
SBU 3
72,000,000
7,446
b.
Tree Planting
SBU 3
105,000,000
10,858
Environmental Management and Monitoring

a.
Environmental Management and Monitoring
SBU 1
335,000,000
34,643
b.
SBU 2
86,000,000
8,893
SBU 2
84,000,000
8,687
SBU 2
57,000,000
5,894
SBU 2
63,000,000
6,515
f.
Environmental Monitoring of PT Sasa Inti Offtake

Station and Area, Semester I
Environmental Monitoring of PT Sasa Inti Offtake
Station and Area, Semester II
Environmental Monitoring of PT HM Sampoerna
Pipeline Installation Project
Environmental Monitoring of Tandes-Gresik Pipeline
Connection Project
Workplace Air Monitoring in Hosbu Office
SBU 2
69,795,000
7,218
g.
Workplace Air Monitoring at Gudang Berbek Office
SBU 2
70,042,500
7,243
h.
SBU 2
42,500,000
4,395
SBU 2
42,500,000
4,395
j.
Measurement of Clean Water Quality at Hosbu Offtake

Station, Building and Office Area
Measurement of Clean Water Quality at Hosbu Offtake
Station, Building and Office Area
Measurement of Mercury Level in PGNs Gas Supply
SBU 2
43,065,000
4,453
k.
Environmental Monitoring in Pagardewa
SBU TSJ
116,050,000
12,001
l.
Monitoring of Work Environment in Offices
SBU TSJ
99,759,000
10,316
m.
Environmental Monitoring and Management (UKL-UPL)

in Medan, Batam and Pekanbaru. Semester I
Environmental Monitoring and Management (UKL-UPL)
in Medan, Batam and Pekanbaru. Semester II
SBU 3
115,000,000
11,892
SBU 3
131,000,000
13,547
c.
d.
e.
i.
n.
3
Organizer
Preparation of Environmental Documents

a.
AMDAL LNG FSRU Lampung
Head Office
889,020,000
91,936
b.
UKL-UPL Station Compressor Gas Terbanggi Besar

Lampung
UKL-UPL Distribution Pipeline Muara Karang, Jakarta
Muara Bekasi, West Java
Head Office
197,175,000
20,390
Head Office
108,000,000
11,169
c.
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No
Actvity Description
Environmental Campaign
a.
Environmental Campaign
B3 (Hazardous & Toxic) Waste

Management
B3 (Hazardous & Toxic) Waste Transportation and
a.
Management
B3 (Hazardous & Toxic) Waste Management
b.
c.
247
B3 (Hazardous & Toxic) Trash and Waste Management

Program
Organizer
Total
USD*
Head Office
11,435,000
1,183
SBU 1
57,211,000
5,916
SBU TSJ
122,122,000
12,629
SBU 2
146,000,000
15,098
1,238,600,000
128,087
Environmental Management
a.
Environmental Transformation
Head Office
b.
Construction of Noise Reducer in Offtake Serpong as

follow up of the noise assessment result
Dropbox Paper Production as implementation of Green
Office
Replacement synthetic refrigerant with hydrocarbon
refrigerants
Preparation of Park Master Plan
SBU 1
401,654,000
41,536
SBU 1
17,176,000
1,776
SBU 1
29,356,000
3,036
SBU 1
58,689,000
6,069
SBU TSJ
2,112,000
218
SBU TSJ
73,500,000
7,601
5,177,756,501
535,443
c.
d.
e.
f.
g.
Maintenance Machinery and Equipment (Sound Level

Meter Calibration)
Environmental Study
(Noise studies of Pagardewa Gas Stations)
Subtotal
7
Environmental Conservation
a.
Trees Planting
CSR Division
5,583,835,880
577,439
b.
Integrated waste management
CSR Division
2,875,873,000
297,402
c.
Clean-up and regreening
CSR Division
1,033,286,000
106,855
9,492,994,880
981,695
14,670,751,381
1,963,391
Sub Total
TOTAL
*For comparison purposes, using BIs middle exchange rate at end of 2012 1USD = Rp9,670
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Environmental Certification
PGNs operational activity is centered around becoming
a world class energy company in the utilitazion of
natural gas, environmental control, occupational safety
and health.
To comply with Government regulations and
international standards in terms of ensuring that
its management system is implemented to OHSAS
18001:2007 and SMK3 standards, PGN conducted a
Diagnostic Assessment of the implementation of this
system, and we expect to obtain OHSAS 18001:2007
and SMK3 Management System certification in 2013.
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Employees, Occupational Safety and Health
Employees, Occupational Safety

and Health
We consider
our employees both assets and
stakeholders of the Company.
CSR is therefore highly
strategic for the company
as it encompasses labor issues
as well as workplace
health and safety.
PGNs uncompromising commitment to safety

is applied through various programs
to increase employees awareness of workplace
safety and health
Location:
Pagardewa Gas Station, Palembang, South Sumatera
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Employees
Employees
We see our employees

as partners in profit,
partners in responsibility and
partners in production
PGN shows its commitment to gender equality and

equal work opportunities by opening opportunities
to any individual who is competent in her or his field.
Photo by:
Agung Oktavian Wijaya, PGN - Sumatra-Java
Transmission SBU, Engineering Facility
Location:
Pagardewa Metering Station
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Policy
PGN is strongly committed to gender equality and
equal employment opportunities and to providing
training to enhance employees professionalism
as well as to ensuring competitive rewards and
remuneration in line with industry standards. The
company also pays close attention to safety. Various
programs along with awareness raising activities are
designed to reinforce a safety culture throughout
the organization, as well providing infrastructure to
ensure occupational safety.
A. Opportunities and Equality

As the organization and the business grows,
PGNs demand for human resources increases. The
Company requires Human Resources (HR) who are
qualified and competent in their field. In 2012,
PGN recruited simultaneously in five cities: Jakarta,
Surabaya, Medan, Palembang and Yogyakarta, in
order to provide equal opportunities to young men
and women from the regions. The recruitment drew
on different potential sources than in previous years,
including national athletes, internal candidates
(temporary employees and outsourced hires at PGN)
as well as external candidates. At the beginning of
2012, PGN accepted 89 new recruits.
The objective of recruiting from among the ranks of
national athletes was to support the Governments
program of looking after athletes development and at
the same time, showing appreciation for their services
to the nation. Internal recruitment, meanwhile, is one
of the ways in which the Company recognizes and
rewards the performance and loyalty of its employees
while providing equal opportunities to young men and
women from the regions.
Employee
PGN also organizes a scholarship program for Taruna

Nusantara High School graduates. The program
is part of PGNs commitment to fulfilling its social
responsibilities by helping high-achieving students
from low-income backgrounds. The scholarship
recipients will continue their education, with PGNs
support, on the 3-year Diploma Program at PTKAKAMIGAS STEM in Cepu. Upon completing the
diploma program, the scholarship recipients will
be recruited by PGN. Between 2006 and 2012, 41
scholarship recipients have been employed by the
company.

Equality in the Recruitment Program
PGN gives equal opportunities to all, regardless of
their ethnic background, religion, race, gender or
physical condition, to apply for PGNs recruitment
program. Employment is based on the selection
process, the evaluation of the probationary period
and an orientation.
Equality in Education and Training Programs
To improve human resource competencies, PGN
organizes various training and education programs
in line with the development of PGNs business.
In 2012 PGN held three mandatory competency
programs for 85 participants, 14 supporting
competency programs for 401 participants, and
81 specific competency programs for 1,982
participants.
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In 2012, 1,182 male employees and 381 female

employees participated in these three education and
training programs. Women received 508.05 training
hours per employee compared to 424.36 training
hours per employee for men. This indicates the
equality of opportunity between women and men in
terms of enhancing capabilities.
Employee
The management of industrial relations in PGN is

currently governed by the Collective Labor Agreement
(CLA) in lieu of the Company Regulations, which came
into effect on July 1, 2011.
PGNs success in drafting a CLA with SP-PGN created
a harmonious relationship with the union, which
represents the workers in PGN.
B. Industrial Relations
PGN manages its human resources with due regard to
employees interests. In carrying out its qualified human
resource management policy, which takes into account
the interests of both management and employees,
the Company has an industrial relations policy. The
management recognizes that successful human resource
management begins with a harmonious employeremployee relationship.
PGN considers its employees as partners in profit,
partners in responsibility and partners in production.
This realized through the involvement of three parties
employees, the employees union and the company.
PGN therefore fully supports the establishment of the
PGN employees union, SP-PGN.
PGNs successes and innovations in industrial relations
include the following :
1. Developing a Collective Labor Agreement (CLA)
in place of Company Regulations.
Every company that has employees must have rules
governing working conditions, rights and obligations,
including the regulation of reciprocal rewards
and punishments agreed upon by both parties.
Such arrangements can be in form of Company
Regulations (CR) or a Collective Labor Agreement
(CLA).
The CLA accommodates the rights and obligations

of the company and employees equally. The CLA is
intended to:
Provide assurance on the rights and obligations of
the company and its workers, including: industrial
relations, working conditions, and the Company
Code of Conduct;
Strengthen and enhance the cooperation between
the company and its employees;
Regulate the fair resolution of disagreements so that
they do not lead to disputes. Any differences are to
be resolved through discussion and consensus.
The rights of all PGNs permanent employees are
protected in the CLA.
2. Compliance with Labor Rules and Regulations.
PGNs HR management complies with rules and
regulations in the labor sector. Compliance minimizes
the occurrence of human rights and industrial relations
violations. The cornerstone of labor management is the
CLA. Various other policies in the CLA illustrate PGNs
compliance with labor laws, including those below:
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a. Conducive Work Environment and Good

Communication with Employees
To adhere to legal labor laws in Indonesia PGN
maintains harmonious industrial relations and
endeavors to build a strong family spirit between
PGNs employees as well as treating all employees
equally, as required by Indonesian labor laws.
In support of good communication between
employees and between management and
employees, PGN has developed a corporate portal
that can be utilized and optimized by all employees
to support communication in the course of their
day-to-day work. The corporate portal has the
following features, among others:
Corporate e-mail application;
E-sms application, to enhance administrative
productivity and efficiency;
E-absence application to monitor employee
absences;
Knowledge Management Online (KMOn),

an application for sharing knowledge and best
practices in day-to-day work.
PGN also publishes an official quarterly magazine,
Gas News, and a monthly tabloid, PGN Inside.
These publications contain information about the
company, as well as featuring exemplary PGN
employees.
Employee
With the support of these reciprocal initiatives,

the company and employees agree fully to
maintain good cooperation. The implementation
of the CLA is expected to promote calm and
continuity, boost productivity and improve
employees welfare.
PGN has demonstrated its ability to create a
good and healthy working environment with
solid teamwork. PGN has never experienced
mass demonstrations or strikes in protest against
management policies.
b. Low Employee Turnover
A good working environment tends to be reflected
in low employee turnover. During the reporting
year, only 33 employees left the company. This
was for the most part due to natural causes, i.e.
retirement or death. Only five employees resigned,
due to personal reasons.
c. Freedom of Association
As a public company, PGN guarantees the right of
employees to associate by creating an employee
union. This guarantee is given as management
believes that employees and employers need each
other. The guarantee of employees freedom to
associate is stated in Law No.21 year 2000 on
Employee Unions.
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Workers and unions have an important function

in industrial relations carrying out the work in
accordance with obligations, maintaining continuity
of production, channeling democratic aspirations,
developing skills and expertise and helping to further
the Company and the welfare of its members and
families.
Currently, the union at PGN is the Employee Union
(Serikat Pekeja) of Perusahaan Gas Negara (Persero)
Tbk, abbreviated as SP-PGN. SP-PGN, which is
independent and unaffiliated, registered at the West
Jakarta Office of Manpower and Transmigration
under registration number 387/II/P/ IX/2009 on 19
September 2009. Management of SP is distributed
among PGNs organizational units and centralized in
the central committee at PGNs Head Office.
With the establishment of SP-PGN, the three
principles of partnership (partner in profit, partner
in responsibility and partner in production, or 3P)
in industrial relations are expected to be reflected
in the day-to-day work. As a partner in profit, the
employees receive part of the profits of the company,
while as a partner in responsibility and partner in
production, the employees cooperate with the
employer in ensuring that the company to progresses
and develops. The existence of SP-PGN in the
Company therefore benefits both management and
employees.
Employee
In applying the 3P principles, the Company conducts

regular surveys of employee satisfaction to get direct
feedback from the employees. Union membership
is not mandatory. PGN believes its relationship with
SP-PGN to be harmonious and that any problems can
be resolved by consensus.
d. Working Hours
To avoid over-exploitation of employees, the
Company has set limits on working hours. In PGN,
this applies to regular work hours, shift work and
special work hours that apply to the completion of
jobs in specific areas. If an employee works
beyond the time specified, overtime will be paid in
accordance with the laws.
e. Holidays and Leave
In addition to the provisions on break times during
work days, annual leave and long leave every 3 years,
PGN also compensates employees with paid leave for
various purposes, such as to perform a pilgrimage
or other religious obligation, and maternity and
menstrual leave for female employees.
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Employee
f. Employees Welfare
PGN ensures that each employee receives a wage above the minimum wage set by the regional government.
Employee compensation also includes a religious holiday allowance (THR) in excess of the normative provisions,
granting leave that is not required by the legislation, work anniversary payments and employee performance
incentives.
The minimum wage received by new PGN employees at the lowest level is higher than the prevailing regional
minimum wage (UMR) or provincial minimum wage (UMP).
g. Human Rights
PGN upholds the human rights of employees and provides full support for the establishment of SP-PGN. Through
the SP-PGN, employees can express their opinions and aspirations freely, and act individually or collectively.

PGN, as a public company, guarantees the right of its employees to organize unions so that they can express their opinions
and aspirations freely, individually or collectively.
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International Labour Organization (ILO) Convention

No. 87 of 1948 protects the right of employees to
organize. The Indonesian government ratified this
Convention on June 5,1998, through Presidential
Decree Number 83/1998. PGN supports the activities
of SP-PGN by providing facilities, funding and
permission for SP-PGN organizers and members to
carry out activities during office hours provided that
they are not in contravention of the law.
PGN upholds human rights by not practicing
discrimination based on age, gender, ethnicity,
religion or political affiliation, and this is reflected
in both the day-to-day work environment and in
recruitment. As of the date of this report, PGN has
never discriminated or violated anyones human
rights.
h. Child Labor and Forced Labor
In accordance with the Governments decision to
ratify various human resource instruments, especially
the ILO Conventions, PGN does not employ underage
children. As of the date of this report, the age of the
youngest employee in PGN was 20 years old. The
minimum age for employment in the Company
is 18 years old.
The nature of PGNs business means that it is
required to operate reliably 24 hours a day. To
that end, PGN uses a shift system in some of its
operations. The shifts depend on the conditions
encountered in the field, but there are usually 2-3
shifts a day.
Employee
This system is intended to prevent any actions that

could be categorized as forced labor. While working,
each employee has the opportunity to take breaks
at certain times. If a shift is exceeded, the employee
is compensated in an agreed amount. Clearly,
therefore, PGN does not use forced labor.
i. Establishing a Successful Bipartite Cooperation
Institution
Pursuant to the employment mandate in Law
No.13 of 2003 and the Ministry of Manpower
and Transmigration Decree No.255/Men/2003
regarding the Procedures for the Establishment
and Composition of the Bipartite Cooperation
Institution (BCI), PGN established such a body with
representatives of the employees and the Company
as members.
A BCI is needed to minimize and avoid
misunderstandings and to accommodate the desires
and aspirations of the Company and the employees.
A BCI can be regarded as a forum that connects
the employers and employees and allows for the
discussion of various issues concerning their interests.
BCI meetings are held every quarter in the interests
of maintaining harmonious industrial relations.

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j. Minimizing Disciplinary Violations

In maintaining and improving employee discipline,
PGN provides direction, management and guidance
to minimize the imposition of disciplinary sanctions
on employees. Employees who violate company
rules are subject to disciplinary actions to correct
and guide their attitude and behavior, in order
to create a conducive working environment.
Employees who commit breaches of discipline are
always given a chance to rectify the situation.
If an employee objects to a disciplinary action,
he/she can file a complaint as set forth in the
CLA. Industrial disputes are settled in accordance
with Law No.2/2004 regarding the Handling
of Industrial Disputes. The level of discipline is
very good in PGN, as evidenced by the small
number of employees who receive warning letters
for disciplinary violations. In 2012, only three
employees received warnings.
Employee
Programs Acitivities
1. Performance Management
Performance Management is the key tool for
the management in monitoring the progress of
each employee. With the Individual Performance
Management System (IPMS) that has been
implemented since 2012, every target for employees
must refer to the companys Priority Business Strategy
(PBS) and in line with their supervisors targets. The
company targets are distributed among the Directors,
who then take them down to the staff level.
The IPMS is supported by a web-based application
which is used by all employees to submit information
regarding performance management. Simply by
connecting with the internet, an employee can carry
out all their performance management activities. At
the beginning of the year, all employees set SMART
(Specific, Measurable, Achievable, Reasonable, Timebound) targets, which are linked to the targets set
by their supervisors and aligned with the PBS. At the
end of the first semester, every supervisor is required
to give feedback on the progress made by their staff.
Although this could be done at any time, this is a
vital exercise in assessing whether the targets are still
relevant or need to be updated to reflect the current
situation. At the end of the period, assessments are
conducted on individual achievements and one of
the following ratings given: Outstanding, Exceeding
Expectations, Meeting Expectations, Reasonable,
and Unsatisfactory. These ratings are taken into
consideration when determining the employees
remuneration, promotion or career path.
7
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With the IPMS, all employees are encouraged to

contribute their best, because they have a better
understanding of how their work contributes to
corporate achievements.
Employee
3. Identifying competency gap s in each employee.

4. Establishing talent management.
5. Cultivating talent that supports the companys needs.
6. Retaining workers with potential and motivating
them to give their best performance.
2. Competencies
As human resource management becomes more
professional, PGN has demonstrated its commitment to
developing the organization of HR and the strategic
work environment, and establishing a competency
development unit in the HR organizational framework,
with the following scope of work:
PGN manages competency data using the competencybased human resource development model (CBHRM)
and a competency development plan through Talent
Management.
1. Creating an HR system based on comprehensive and

integrated competencies.
2. Ensuring the availability of a comprehensive employee
competency profile.
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Employee
3. Employee Satisfaction Survey
Expenditure on Labor Practices
In accordance with the Board of Directors decision

to conduct an annual employee satisfaction survey
as explained in BOD Decree No. 005300.K/715/
UM/2005 dated 21 April 2005, the Company, through
the Human Resources Division, surveys all PGNs
employees. The survey is a means for the Company
to get employees inputs and points of view with
regard to efforts to improve their job satisfaction and
productivity.
PGN continuously guides employees to ensure that

they acquire the competencies and skills they need.
This is effected through education, training and special
assignments as well as transfers and promotion. HR
development is competency-based, focusing on both
generic and technical competencies. Employees receive
periodic updates on the competencies they possess
based on assessment results.
4. Employee Training
In order to have qualified human resources, PGN has
put in place a competency development program that
is planned, systematic and focused on the companys
business development. Education and Training is
one of the key competency development programs
conducted consistently to maintain and improve the
quality of PGNs human resources.
Guided by the competency profile, employees are given

advice and recommendations on the options available to
them to develop their competencies. The development
programs range from training programs and assignments
to job enlargement, job enrichment and others. In 2012
PGN provided a total of 21,886 man days of education
and training for employees at a total cost of Rp 23.955
billion.
To sustain a systematic and focused program

in accordance with professional competence
requirements, PGN has developed Outlines, Syllabuses,
Modules and Facilitator Guidelines for training and
education programs for Engineering, Operations and
Commerce, which relate directly to revenue growth,
natural gas distribution expertise and customer
satisfaction.
In 2012, PGN had training and education Outlines,
Syllabuses, Modules and Facilitator Guidelines for
various distinct competencies. With these tools, we
expect employees to be able to develop the required
competencies in certain positions and gradually to fill
in the competency gaps.
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Occupational Safety and Health
Occupational Safety
and Health
The audit
results in several units indicate
that the Safety Excellence Journey
has succeeded in building PGNs
safety culture and has transformed
the Company from reactive to
dependent, although in some
aspects we are still at the
reactive level.
PGN has set zero targets for deaths, illness and environmental
pollution resulting from the operation of our business
Location:
Pagardewa Compressor Station, Palembang, South Sumatera
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Policy
As PGN moved into the third year of implementation of
our Safety Excellence Journey, in 2012 the Management
revised the policy to encompass our Occupational Safety
& Health and Environmental & Energy Management
System (OSH-EEM) and Safety, Health and Environment
(SHE) goals. This reflects PGNs deepening commitment
to energy conservation, concern about global climate
change, and strengthening OSH management systems by
reinforcing the implementation of the principles Plan,
Do, Check and Action. PGN also enhanced its approach
to all aspects of workplace safety, as specified in PGNs
SHE Goals.
SHE Goals in PGNs Vision
Occupational Safety Health Environmental Management - Energy Policy
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Integrating environmental and energy policy into

our Occupational Safety & Health and Environmental
Management (OSH&EM) policy emphasizes the role of the
OSH management system in carrying out OSH activities
and strengthens the implementation of the principles
Plan, Do, Check and Action while setting zero targets for
deaths, illness and environmental pollution resulting from
the operation of our business. To achieve these targets we
have made a commitment to:
1. Implement the Occupational Safety & Health and
Environmental & Energy Management (OSH&EEM)
system and comply with the applicable laws and
other requirements
2. Take proactive and preventive action to create an
environment that is safe, hygienic, non- polluting
and energy efficient
3. Make efforts to conserve energy to make energy

use more efficient
4. Provide guidance for all employees by conducting
continuous OSH&EM education and training and
embedding a culture of reward and punishment
5. Investigate every incident, work accident and workrelated illness as well as environmental pollution
and ensure that the results are used to take
preventive action
6. Evaluate the performance of the OSH&EM system
regularly to ensure continuous improvement.
Measurement of noise level using a sound level meter at PGNs Head Office - part of the implementation of the OSH management
system.
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PGNs SAFETY JOURNEY PROGRESS
Na
tu
r
al
In
sti
nc
ts
Injury Rates
Su
pe
Towards Safety Excellence

rvi
s
ion
Self
Teams
Reactive
Safety by natural instinct
Compliance is the goal
Delegated to Safety Manager
Delegated to Safety Manager
Lack of management
involvement
Dependent
Independent
Management Commitment
Training
Rules/procedures
Supervisor control,
Emphasis and goals
Condition of deployment
Fear/Discipline
Value all people
Personal knowledge,
commitment and standards
Internalization
Care for self
Practice, habits
Increased communication
Individual recognition
Practice, habits
Interdependent
Help others conform
Others keeper
Networking contributor
Care for others
Organizational pride
Open communications
TSAF: 0.31 or target 0.45

LTIF: 0 or = target
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Program Activities
In 2012, PGN implemented the following OSH activities:
1. Safety Committees
As the key mobilizers of safety activities, safety committees make a very significant contribution to the Company: the
Executive Central Safety Committee (ESCS) and the Central Safety Committees (CSC) in each directorate have decided
on a number of strategic policies related to OSH. Moreover, the ECSC and the CSCs in each directorate are where
safety activities in all Units are coordinated.
The activities of the Central Safety Committee (CSC) and the Executive Central Safety Committee (ECSC) were as
follows:

To control and ensure that all OSH activities are well executed
To review safety performance matrix in each Directorate and Division/Unit
To make strategic decisions on OSH implementation at the Directorate/Division level
To give inputs to the Management regarding Safety Policy
To serve as a forum for communication and sharing on OSH amongst Directorates
CENTRAL SAFETY COMMITTEE DIRECTORATE OF COMMERCE

Director of
Commerce
Secretary
General
Manager
SBU I
General
Manager
SBU II
General
Manager
SBU III
General
Manager
SBU TSJ
Head of
Operational
Division
Head of
OSH&EM
Division
Head of
Corporate
Sales Division
Group Head
GMS & GIS
Head of
Marketing
Division
Head of Gas
Supply
Division
CENTRAL SAFETY COMMITTEE DIRECTORATE OF IPRM & FINANCE
Director of
Direktur
Investment
Planning and Risk
Management
Secretary
Director of
FInance
Observation
Committee
Incident
Investigation
Committee
Policy of
Safety Financial
Management
Committee
Annual Report 2012
Policy of Safety
Investment/
pengeluaran
Committee
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CENTRAL SAFETY COMMITTEE DIRECTORATE OF TECHNOLOGY & DEVELOPMENT
Director of
Technology &
Development
Secretary
Head of
Engineering
Division
Head of
Development
Division
Head of
Technology
Information &
Communication
Division
Head Of RPT
Division
CENTRAL SAFETY
PROJECT COMMITTEE
Coordinator
of Project
Executive
Sub Committee
of Rules &
procedures
Sub Committee
of Contractor
Management
Sub Committee
of Incident
Investigation
Sub Committee
of Audit &
Observation
Sub Committee
of
Office Safety
Sub Committee
of Training &
Certification
CENTRAL SAFETY COMMITTEE DIRECTORATE OF GENERAL AFFAIRS AND HR
Director of
General Affairs
and HR
Secretary
Head of HR
Division
Head of LUPP
Division
Head of OPB
Division
Head of Logistic
Division
Secretary of
KM Committee
7
Sub Committee
of Third Party
Management
Sub Committee
of Guest
Management
Sub
Committee
of ERP
Sub
Committe
of Facility
CENTRAL SAFETY
COMMITTEE OF
GENERAL SERVICES
AND SECURITY DIVISION
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2. Management visits
Senior management undertakes management visits on
an annual basis in order to interact with the workers in
the field and get direct feedback on what is happening
at every level of the Company, particularly with regard
to OSH implementation. This is also an opportunity
to motivate the employees to consistently do their
best with this direct encouragement from the top
management.
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PGNs Directors
regularly monitor site
conditions and OSH
implementation at PGNs
station facilities
at all SBUs
from left to right:

1. Management Visit
2. Management Visit
3. Management Visit
4. Management Visit
by
by
by
by
Director
Director
Director
Director
Annual Report 2012
of
of
of
of
Finance to SBU TSJ

HRD & General Affairs to SBU III
Commerce & Operations to SBU III
Technology and Development to SBU III
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3. Safety Management Audit Evaluation and Diagnostic Assessment (SMK3 and OHSAS 18001:2007)
To measure the progress on OSH implementation and building a safety culture throughout the Company, PGN
conducted an audit. The objectives were as follows:
As input for the formulation of safety goals & objectives.
Declaring strengths and concerns (issues that need to be addressed by the organization/SBU)
Revealing best practices that should be shared with other organizations/SBUs.
Quick-wins (actions that can be taken immediately) and long-term Recommendations.
Action Plan to follow up the assessment results.
The audit results in several units indicate that the Safety Excellence Journey has succeeded in building PGNs safety
culture and has managed to take the Company overall from reactive to dependent. Nevertheless, a closer look at
some aspects of the audit reveals that they are still at the reactive level.

The audit was conducted in preparation for getting OHSAS 18001:2007 certification and SMK3 (OSH Management
System) certification in 2013 and to comply with Government Regulation No 50 year 2012 regarding the application
of the occupational safety and health management system. For that, PGN also conducted a a Diagnostic Assessment,
which was carried out by a national certification institute, to identify implementation gaps in OSH in PGN, with the
expectation that these gaps would be addressed immediately in order to achieve the target of getting certified in
2013. The Road Map for the achievement of OHSAS 18001:2007 and SMK3 certification can be seen in the diagram:
ROAD MAP TOWARDS OHSAS 18001:2007 AND SMK3 CERTIFICATION
Diagnostic Assessment
Pre Audit
Certification
Head Office
Water Conservation
SBU 1
3R B3 Waste
SBU TSJ
Projects
2012
2013
2014
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4. OSH Campaign
OSH campaigns are routinely organized to constantly
raise awareness among all employees. This is expected
to help reduce risks or hazards resulting from unsafe
conditions or situations. The OSH campaigns we
conducted in 2012 included the following:
Publicity and dissemination via posters and banners
OSH&EM Gathering
The Gathering is an opportunity to take an overview
of activities during the year and and the plans
for 2013, assess the strengths, weaknesses and
challenges that will be faced in each unit and the
commitments that will be made in 2013. Experts in
OSH are invited to share their knowledge.
Use of protective clothing (tychem/full protection) in a line inspection of intelligent pigging activities to avoid exposure to hazardous
chemicals (such as mercury). According to measurements and analysis by independent contractors, the hazardous chemicals are above
the threshold allowed at that distance (close to the barrel door).
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5. Health programs
Health programs implemented in 2012, both at
the corporate level and in other units, included the
following:
PGNs strengthening
of its health-related
SHE Goals reflects the
Companys concern for
employees safety
Medical Check-Up

Routine medical check-ups for employees, aimed at:
- Early disease diagnosis
- Helping to prevent disease
- Determining individual health status
- Referring individuals to specialist doctors for
certain disorders
Site Health Review
Before embarking on any project, local conditions in
the field were reviewed, including:
- Local medical facilities
- On-site medical provisions
- Health risks and prevention programs
- Recommendations
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Road Map to Health in the Workplace

The Health Road Map that we will continue to implement
over the next two years covers the following:
HEALTH
PROGRAM
ROAD
MAP
ROAD
MAP
OF HEALTH
PROGRAM
SMK3 & OHSAS

CERTIFICATION
OCCUPATIONAL HEALTH
SETTING PROGRAM
Hazard Identi cation
& Risk Assessment
Employees health improved,

Medical cost reduction,
Lower unattendance level,
Update of employees
health data base
Awareness
Job Related Medical
Training, Sanitation & Hygiene, Ergonomics, MERP,
Health Surveilance, Versatile Car,
Hearing Conservation Program,
Respiratory Protection Program
2012
2013
2012
Health awareness
Job-related medical examination
Health risk assessment (SBU I)
2014
2014
Improve employees health status
Reduction of medical cost
Reduction of absenteeism
Health database
2013
Health risk assessment (all)
Training
OSH-SM & OHSAS 18001:2007 certification
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6. Training Programs
PGN is continually working to enhance employee
competencies through various training programs so
that they are better equipped to support the Company
in achieving its targets.
No
Training Program
Attendees
Sessions
Safety Management For Managers & Observation
185
12
Risk Containment Audit
184
13
Contractor Safety Management
17
Incident Investigation
22
Process Safety Management
21
Process hazard analysis
13
Office Safety
18
OSH Manual Audit
16
OSH Internal Audit (Certification)
24
10
Health Risk Assessment
25
11
Basic Fire and Safety Training
18
Achievements
a. Safety Metrics
These Safety Metrics represent the performance
indicators for each SBU and the head office on OSH
management. Using these indicators, we monitor and
evaluate OSH performance every month and use the
results as the basis for improvement measures. The
Safety Matrix shows that PGN met the 2012 targets for
OSH implementation.
b. Safe Working Hours
The total of 33,968,224 safe working hours in all Units
and Projects indicates that there were no Lost Time
Injuries (LTI) up to the end of 2012.
c. Awards and Endorsements

The awards we achieved for various initiatives
in 2012 and the legalization of our Safety and
Health Committees (SHC) by the Manpower Office,
shown below, are evidence of our compliance with
Government regulations on OSH in different regions:
1. Zero Accidents from Surabaya Manpower Office,
November 2012.
2. Award for 4,451,616 Zero Accident Hours in 2011
from the North Sumatra Manpower & Transmigration
Office
3. Legalization of the establishment of the Safety &
Health Committee (SHC) in SBU II
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Expenditure on OSH Implementation

The expenditure on activities related to occupational health and safety during 2012 was Rp16,207,409,106.
The details are as follows:
No
Activities Description
Location
Rp
USD*
Safety Excellence Journey consultant services
Head Office
4, 722,118,500
488,327
Promoting Safety consultant services
Head Office
89,265,000
9,231
Promoting Safety Activity
Head Office
24,805,700
2,565
OSH Competition
Head Office
35, 305,850
3,651
OSH&EM Workshop
Head Office
154,031,122
15,929
System Information OSH&EM Software

Production
Head Office
88,000,000
9,100
Process Safety Management (PSM phase 2)

Continuation 2011
SBU I
1,276,000,000
131,954
Occupational Health & Industrial hygiene

Management System
SBU I
655,215,000
67,757
SHE Day
SBU I
450,000,000
46,536
10
EMERGENCY RESPONSE EXERCISE
SBU I
350,000,000
36,194
11
Promoting Safety
SBU I
31,240,000
3,231
12
Process Safety Management (PSM Bagian 1)
SBU II
1,340,000,000
138,573
13
SHE Day
SBU II
381,709,550
39,474
14
SBU II
43,663,600
4,515
15
Safety excellence Journey Consultant Service
SBU III
2,290,000,000
236,815
16
SHE Day
SBU III
300,000,000
31,024
17
SBU III
54,665,000
5,653
18
Safety excellence Journey Consultant Service
SBU TSJ
3,500,000,000
361,944
19
SHE Day
SBU TSJ
360,974,350
37,329
20
SBU TSJ
6,415,134
663
16,207,409,106
1,670,645
Total
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Social and Community

Development
PGN disbursed
Rp461.37 billion or
USD47.70 million
for activities under our
Partnership and Community
Development Program
A PGN employee guides one of PGNs partners, a tenun weaver in

Garut, to introduce innovations to create fashion products
Location:
Kampung Tenun Garut, West Java
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Policy
As a State-Owned Enterprise (SOE), PGN is required to
implement the Partnership and Community Development
Program in accordance with Minister of SOEs Regulation
No. PER-05/MBU/2007 regarding the SOEs Partnership
Program with Small Enterprises and the Community
Development Program. The program also seeks to
synchronize with the local potential in the beneficiary
communities. Partnership Program activities included
the distribution of loans and guidance for economic
empowerment. The primary targets of this program
are small and medium enterprises (SMEs) as well as
educational assistance, educational assistance, health
care, infrastructure, conservation, religious facilities and
disaster relief.
In implementing the program, PGN refers to the
following policies:
Priority beneficiaries are the people living in the vicinity
of our operational areas, or close to a natural gas
pipeline network
The provision of assitance to beneficiaries outside
PGNs operational area is intended to support
Government program
The assistance provided to beneficiaries should, to the
extent possible be in kind
In disbursing partnership program assistance, priority is
given to Clusters
Partnership and community development program
assistance is distributed both individually and in
synergy with other SOEs
Social and environment responsibility supports PGNs
operational and develoment activities.
In addition, PGN is also required to implement CSR

programs as mandated by Article 74 of Law No. 40
of 2007 regarding Limited Liability Companies. CSR
program funds are used to finance the construction
of infrastructure and other assistance to public and
environmental protection programs. In 2012, PGN
allocated a budget of Rp11.84 billion for CSR.
Program Activities
In 2012 PGN implemented several partnership and
community development partnership program activities,
including the disbursement of loans and assistance for
economic empowerment. Community development
program activities included the development of Kampung
Tenun Garut, educational assistance, healthcare,
infrastructure, conservation, religious facilities and
disaster relief.
Partnership program activities in 2012 included training
on management and finance, marketing and motivation,
goat husbandry, rice farming, sugar cane farming, design
motif dyeing and weafing and design as well as foreign
language courses.
To boost marketing and promote the business of its
partners, in 2012 PGN organized a number of activities
with partners including the SOEs PCDP Gelar Karya
(Exhibition of Work), inacraft, Indonesia Fashion and
Craft 2012, JCC Jakarta, Indonesian Product Expo II,
Amman, Jordan, Trade Expo Indonesia, Tokyo Spring
Culture Event and Trade Tourism Exhibition and other
Exhibitions.
PGN allocated Rp 237.32 billion or 4% of the

Companys profit from 2011 as one of the sources of
funds for community development program activities
in 2012.
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1. PGNs Kampung Tenun Garut

Garut is famous for its traditional woven tenun

cloth, which is made into sarongs. Left behind by
technological advances and modern trends, Garuts
sarongs can no longer compete with batik sarongs
from other regions. This has led to a decline in Garuts
tenun cloth business from Garut.
Concerned for the artisan weavers of Garut, PGN

worked with Cita Tenun Indonesia (CTI) from December
2010 until January 2012 to organize training and
development programs for traditional weavers in
the Garut and Majalaya areas, targeting weavers in
Panawuan Village.
With the training, craftsmen can produce Garut

silk hand-woven fabric with beautiful patterns
and textures. PGN also provided donated weaving
equipment, repaired workshops and made a gallery for
the craftsmen. The development and training continues
to help the artisans innovate to create fashion products.
With all this assistance, Panawuan Village became

PGNs Kampung Tenun. On June 27, 2012, the Minister
of Tourism and the Creative Economy,
Mari Elka Pangestu, inaugurated Panawuan village as
the Garut Kampung Tenun Creative Zone.
To market the woven products from Garut, PGN took

the craftsmen to various exhibitions to showcase the
traditional woven cloth from Garut, both in Indonesia,
such as the 2011 ASEAN Fair in Bali, INACRAFT 2012
at JCC Senayan, and the Moie Summer Party 2012 in
Kemang, Jakarta, as well as several exhibitions abroad,
including the F4D Ladies Luncheon in New York, the
Spring Cultural Event in Tokyo, and Trade, Tourism, and
Investment in Beijing.
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Mr. Hendar with various products made by PGNs partners, the artisan weavers of Garut. PGN cooperated with Cita Tenun Indonesia
(CTI) to implement this community development program by organizing training and development for the artisan weavers of Garut.
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The launch of Kampung Tenun Garut in June 2012 with a fashion show featuring Garut silk hand-woven textiles designed
by Sebastian Gunawan.
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PGNs Kampung Binaan in Pagardewa, Palembang. PGN provided assistance in the form of facilities and infrastructure, such as the
renovation of schools, health centers, mosques, village halls, reading rooms , lighting, etc.
2. Education
Stimulating public interest in reading by publishing
a series of 33 comics on national heroes
(representing the 33 provinces) in collaboration
with Balai Pustaka. 3,000 copies were
distributed to schools, especially those located
around PGNs areas of operation. The Legend
Comics increased interest in reading and promoted
a sense of national pride in children. This program
earned a world record from MURI as the initiator of
the largest Legend comic series in the archipelago.
Sending young teachers to 25 schools in remote
areas (such as Banyuasin, Muara Enim, Tulang
Bawang Barat, and Gresik), and providing
assistance for the partner recruitment program
in collaboration with the Indonesian Teaching
Foundation.
Improving the competencies of 110 teachers from

55 Early Childhood Education (PAUD) centers in
PGNs operational areas in cooperation with the
Ancora Foundation.
Developing several units of Community Taman Baca
in cooperation with WIKA and Balai Pustaka
The construction and renovation of schools
and other educational facilities around PGNs
operational areas in cooperation with Wijaya Karya
and PP.
Awarding scholarships to 1,050 students at 14
universities in Indonesia.
Providing educational grants for 2,400 students
from elementary, junior high, and high schools in
PGNs operational areas.
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3. Worship Facilities

The program aims to enchance the quality of religious

activities. In 2012, PGN has provided assistance for
the renovation and construction of places of worship
and other supporting facilities as well as assistance
for conducting religious activities. In addition, PGN
provided donations for orphans and assisted a number
of couples so that they could participate in a mass
wedding, as well as other religious activities.
4. Health Facilities
Activities carried out under our
health-related assistance programs in 2012 included:
Improved health services for communities, particularly
those in and around PGNs operational areas
through PGNs Health Car, in collaboration with
Rumah Zakat. In 2012, PGNs Health Car provided
health care to 36,212 people in six cities Jakarta,
Medan, Tangerang, Surabaya, Lampung and
Palembang. Services included prenatal care
and giving supplements to pregnant women,
contraception services, public health services and
a dental clinic, and nutritional supplements for
children and toddlers.
Jakarta
7,441 People
Medan
7,659 People
Tangerang
6,181 People
Surabaya
5,001 People
Lampung
5,029 People
Palembang
4,901 People
Total
Building a 2-storey, 863 square meter Health House

with an emergency room, blood lab, medical record
room, laundry room, prayer room, examination room,
meeting room, board room, waiting room, nursery,
equipment room, physiotherapy room and clinic.

The Health House was built for communities in need,

especially in the Sidoarjo area, so that the
disadvantaged communities can improve the
quality of their physical and mental health and make
their environment more economically and socially
productive.
36,212 People
Annual Report 2012
energy for life
Corporate Social
Providing health services for people making the

trip to their hometowns for the Idul Fitri holiday
through the 2012 Posko Mudik Sehat PGN. The
services included medical examination by a general
practitioner and as well as first aid for minor injuries
and the distribution of supplements. In addition,
entertainment facilities such as LCD television,
internet and music are provided, as well as family
games, door prizes and a free massage service for
travelers.
Providing other health facilities including an
ambulance for the community in Tambak village,
Lekok District, Pasuruan and an ambulance for PMI
Palembang; developing community health centers at
Way Mili and Marga Tiga, and renovating a
community health center in Sukadana, East
Lampung.
281
5. Public Facilities

Activities in 2012 included:

Providing 2 generators (gas engine) on Pemping
Island to help meet the electricity needs of
communities in Belakang Padang District, Batam.
Providing electricity for communities in Way
Kanan and Pacitan through an independent
power program (Limar), which is in the form of a
switch panel consisting of an LED light, connector
terminals, a low battery indicator, a power cord
and a battery. Training and mentoring are also
provided.
Providing 3 arm roll garbage trucks to support
sanitation the city of Bandar Lampung.
Building a community hall in Marga Tiga District,
East Lampung.
Renovating suspension bridges and village roads
in Pagar Dewa, South Sumatra.
Building and renovating offices and village halls,
schools, gates, mosques and a community
health center in the village of Sriminosari, East
Lampung.
Providing clean water for the community on
Panggang Island in Pulau Seribu by donating a
sea water processing facility. The facility will be
managed by the local community.
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6. Disaster Relief

In the implementation of its 2012 Partnership

Program, PGN created clusters of micro and small
enterprises to facilitate management, coordination
and communication with target partners, as well as
oversight. These include:
Livestock farming cluster in the Caringin subdistrict,
Bogor Regency, West Java
Tenun weaving cluster in Garut, West Java, which
became PGNs Kampung Tenun Garut, and a tenun
weaving cluster in Majalaya, in collaboration with
Cita Tenun Indonesia to conserve cultural heritage
and develop the weaving industry while increasing
the sale value of woven products.
Developing an embroidery craftsmen cluster
in Bukittinggi, West Sumatra to develop the
embroidery handicraft industry and increase the
sale value of its products.
PGN also provided training for its partners in the form

of financial management and marketing training,
and involved them in local, national and international
exhibitions.
In 2012, PGN showed its concern and empathy for

those affected by natural disasters by providing the
following assistance:
Emergency flood response in the Banten
(Tangerang and Cilegon) area.
Assistance for people affected by floods and a
waterspout in Garut, West Java.
500 food packages for landslide victims in Bali
Assistance for people affected by the long dry
season in East Java.
9 tons of rice for fire victims in Karet Tengsin and
Bendungan Hilir, DKI Jakarta.
Providing shelters and a public kitchen for people
affected by the earthquake in Sukabumi, West Java,
as part of the earthquake recovery effort.
7. SOEs Environmental Development

Partnership Program

In order to maintain the stability in availability and

prices of agricultural products in the country, PGN
created synergies through cooperation with a number
of state-owned enterprises in implementing the
Partnership Program, as follows:
Supporting a food productivity improvement
movement program in cooperation with PT Pertani
(Persero), PT Sang Hyang Seri (Persero) and Perum
Perhutani to increase rice production.
Providing funds for sugarcane farmers in East Java
to maintain the stability of production and sugar
price in cooperation with PTPN X (Limited) and
PTPN XI (Limited).
Improvement of national salt production through
a partnership loan with PT Garam (Persero).
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FUND DISBURSEMENT FOR PGNs PARTNERS IN 2012 BASED ON BUSINESS SECTOR CATEGORY
OF PARTNERS IN PARTNERSHIP PROGRAM
Number of
Partners (units)
Rp
USD*
Industry
420
17,105,000,000
1,768,873
Trading
85,000,000
8,790
40,034
167,000,000,000
17,269,907
43
1,650,760,000
170,709
4,675
90,000,000,000
9,307,135
50,000,000
5,171
13,837,498,333
1,430,972
289,728,258,333
29,961,557
Business Type
Agriculture
Livestock
Plantation
Service
Partnership Development Fund
Total
45,181
Expenditure on Social and Community Development Activities

In 2012 the partnership program disbursed Rp 289.73 billion, resulting in a disbursement effectiveness of 96.57%.
Funds were provided to 45,181 partners, a growth of 39.79% from 32,321 partners in 2011. PGNs partners were
involved in a variety of businesses, including livestock, crop farming and the creative industry.
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Fund DISBURSEMENT for Social and Community Development in 2012 Per Province
Description
TJSL
TJSL (USD)*
PKBL
PKBL (USD)*
Total
Total (USD)*
1,060,000,000
109,617.37
40,417,404,515
4,179,670
41,477,404,515
4,289,287
22,536,328,838
2,330,541
22,536,328,838
2,330,541
947,000,000
97,931.75
19,386,458,536
2,004,804
20,333,458,536
2,102,736
A. ENVIRONMENT DEVELOPMENT PROGRAM

SOE Partners
Education
Public Facilities
Worship Facilities
2,750,225,720
284,408.04
10,439,601,802
1,079,587
13,189,827,522
1,363,995
Nature Conservation
9,492,994,880
981,695
9,492,994,880
981,695
Natural Disasters -
1,477,797,807
152,823
1,477,797,807
152,823
4,757,225,720
491,957.16
103,750,586,378
10,729,120
108,507,812,098
11,221,077
67,888,333,095
7,020,510
67,888,333,095
7,020,510
4,757,225,720
491,957.16
171,638,919,473
17,749,630
176,396,145,193
18,241,587
Health
Total Disbursement SOE Partners

Total Disbursement SOEs Care
Total Realization of Environmental
Management Program
B. PARTNERSHIP PROGRAM
Soft Loans
Aceh
3,392,652,969
350,843
3,392,652,969
350,843
Lampung
8,805,000,000
910,548
8,805,000,000
910,548
Banten
D. I. Yogyakarta
DKI Jakarta
West Java
Central java
East Java
West Sumatera
8,479,404,104
876,877
8,479,404,104
876,877
26,714,800,000
2,762,647
26,714,800,000
2,762,647
240,000,000
24,819
240,000,000
24,819
36,264,386,965
3,750,195
36,264,386,965
3,750,195
31,309,852,985
3,237,834
31,309,852,985
3,237,834
123,315,050,487
12,752,332
123,315,050,487
12,752,332
160,000,000
16,546
160,000,000
16,546
South Sumatera
7,540,200,000
779,752
7,540,200,000
779,752
North Sumatera
7,934,950,164
820,574
7,934,950,164
820,574
373,800,000
38,656
373,800,000
38,656
7,148,308,750
739,225
7,148,308,750
739,225
Riau
West Kalimantan
East Kalimantan
1,339,344,000
138,505
1,339,344,000
138,505
South Sulawesi
12,873,009,576
1,331,232
12,873,009,576
1,331,232
275,890,760,000
28,530,585
275,890,760,000
28,530,585
Marketing and Promotion Training
6,870,782,471
710,526
6,870,782,471
710,526
Education and Training Partnership
6,666,715,862
689,423
6,666,715,862
689,423
300,000,000
31,024
300,000,000
31,024
13,837,498,333
1,430,972
13,837,498,333
1,430,972
289,728,258,333
29,961,557
289,728,258,333
29,961,557
Operating Expenses Partnership

Program
6,013,196,654
621,840
6,013,196,654
621,840
Operating Expenses Environment

Development Program
6,534,696,398
675,770
6,534,696,398
675,770
Total Soft Loan
Training
Development Partnership
Total Partnership
Total Realization Partnership

Program
C. OPERATING EXPENSES
Prepaid Expenses PKBL

Total Operating Expensest
TOTAL
4,757,225,720
491,957.16
15,877,286
1,641,91
15,877,286
1,641,91
12,563,770,338
1,299,252,36
12,563,770,338
1,299,252,36
473,930,948,144
49,010,439,31
478,688,173,864
49,502,396,47
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One of PGNs partner weavers making tenun cloth in Kampung Tenun, Garut, West Java.
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Product and Consumer

Responsibility
We continually update
our Service Excellence
standards to be able to meet
PGN customers expectations
and ensure that they get
premium service.
PT Satyaraya Keramindoindah, a ceramics manufacturer, is

one of PGNs industrial customers. The ceramics industry
contributes 11% of our total gas sales to the industry sector.
Location:
PT Satyaraya Keramindoindahs ceramic factory, West Java
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Policy
PGN is committed to fulfilling its responsibilities to
customers. For PGN, customers are our partners in
the development of a sustainable business. PGN is
committed to implementing customer satisfaction
programs by campaigning about the importance of
service excellence in ProCISE, our corporate culture.
PGN takes into account the unique and dynamic
characteristics of its customers so that it can continue
to to deliver their needs. Various activities were
implemented to ensure that we meet customer
expectations on both technical and excellent service
fronts.
Program activities
In 2012, PGN implemented the following premium
service programs:
1. PGNs Contact Center - Responding to

customer needs:
a. Product and service information
The Company has established an information center,
known as the Gas Contact Center, which can be
reached by phone on 0800 1 500 645 (GO GAS) and
email at contact.center@pgn.co.id which deals with
inquiries such as information about products, tariffs,
pipeline networks and gas subsription. The Contact
Center is a centralized unit in the Head Office and
is integrated with the Companys three Strategic
Business Units in Jakarta, Surabaya and Medan.
b. Handling customer complaints

PGNs Contact Center also deals with customer
complaints. The Contact Center opens 24 hours a
day, 7 days a week. Any general inquiries about PGN
are dealt with directly by a Contact Center Agent,
while complaints are forwarded to the department
authorized to handle them.The PGN contact center is
supported by a telephone system and latest customer
database. Frontliners will use information in the
database to handle complaints.
2. Measuring Customer Satisfaction - PGNs

responsibility for products, safety
and customers health.
PGN consistently strives to improve its service by
measuring customer satisfaction and updating the
Service Excellence Standards.
In 2012, PGN surveyed customer satisfaction
internally in each Sales and Services Area. The
survey involved 783 respondents, consisting of
household, commercial and industrial curtomers.
The surveys revealed certain expectations and
issues that the company will draw on to continue
delivering excellent service and improve its service
performance.
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This process resulted in a Customer Satisfaction

Index (CSI) and a Customer Importance Index (CII).
CSI indicates the level of customer satisfaction with
the performance, while the a Customer Importance
Index (CII) indicates the importance of the
customer to PGNs performance.

On the 2012 survey, PGN scored 5.12 (on a Likert
scale of 1-6) on the CSI and 5.31 (Likert scale 1-6)
on the importance index, assessed on 8 service bites
consisting of of access, competence, hospitality,
empathy, reliability, responsiveness, promptness,
security and tangible services. Security, or a
guarantee of safety on the use of PGNs products
and services, improved significantly in 2012. Both
PGN personnel and our customers were increasingly
aware of our Safety culture. PGNs implementation
of Safety in Me,Safety at Work and Safety at Home
was perceived by customers through the attitude of
PGNs frontliners. In addition, dissemination through
brochures, safety instruction manuals for natural
gas users, discussions during visits to customers,
and customer gatherings and seminars also assured
customers of the reliability of PGNs products and
services.
3. Customer Gatherings to build

the relationship between PGN
and customers
In order to maintain effective communications
and foster closer relationships, PGN holds regular
customer gatherings. Through these events,
PGN hopes to gain a better understanding of its
customers and share important information about
the gas business, the gas industry and the global
economic situation.
Customer gatherings and seminars were held
at least once a month in all SBUs. Frontliners
also visited existing and potential customers to
strengthen the relationship. During such visits,
frontliners provided technical services to improve the
efficiency of customers equipment.
PGN also held gatherings with customers
by involving them in exhibitions to promote the
benefits of using natural gas and to gain a better
understanding of the customers business and
related industries.

PGN has also outfitted frontliners with special

uniforms to prevent fraud and identity fraud
committed by irresponsible parties. These steps have
created a sense of security in customers.
Technological advances allowed PGN to create a
new service product in September 2012, an e-billing
system that enables customers to pay their gas
bills online. PGN is also working with several banks
andPayment Point Online Bank (PPOB) to simplify
the payment process for household gas bills.
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The tire-making process at PT Gajah Tunggal Tbk, West java, one of PGNs industrial customers. This industry is the largest customer
by volume, contributing 97% of PGNs total gas sales or by 780 MMScfd in 2012.
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The customer gatherings held in 2012 are shown below:
Customer GatheringS AT SBU I

No
Area
Date
Theme
Materials
HOSBU 1
12 December 2012
Customer Seminar SBU 1
PGNs Transformation and Innovation in

contributing to maintaining National Energy
Security
Banten
30 July 2012
Customer Gathering for

regasified LNG Users
1. PGNs business chain in business process of the

utilization of natural gas
2. Business Process of gas utilization from LNG NR
Regasification result
3. Introduction PT Gagas Energi Indonesia as gas
distributor from LNG NR Regasification result
4. Talk Show Business Model and price system as
well regasification result of gas potential
Banten
14 August 2012
Breaking the fast with

customers
Breaking the fast together
Banten
19 September 2012
Gathering for household

& small customers
1. Dissemination of Gas Customer Guidelines

2. Dissemination on Household Installation
3. Dissemination on the safe use of Natural Gas
Banten
18 December 2012
Customer Gathering
for household & small
customers
1. Sales and Service

2. Applying general regulations and gas prices
3. Payment Procedure
4. Definition and understanding of Safety
5. Anticipating and responding to questions/
Jakarta
7 July 2012

household and Small
Customers
1. Dissemination of Gas Customer Guidelines

2. Dissemination on Household Installation
3. Dissemination on the safe use of Natural Gas
Jakarta
15 September 2012
Information sharing for

prospective household
customers - Jakarta Area
1. Gas subscription and installation procedure

2. Payment procedure
3. Safe distribution and use of natural gas
Annual Report 2012
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8
Area
Date
Jakarta
21 November 2012
291
Theme
Materials
Household customer
dissemination - Jakarta
Area
1. Sales and Service

2. Applying general regulations and gas prices
3. Payment Procedure
4. Definition and understanding of Safety
5. Anticipating and responding to questions/
complaints
Bogor
19 September
Information sharing for

customers in 2012
10
Bogor
7 March 2012
Household Customer
Gathering in 2012
Understanding the subscription procedure and safe

installation for household customers
1. Providing information on how to become a gas

customer according to the current regulations
2. Giving an understanding on what needs to be
done by PGNs gas customers in order to stay
safe around the installations in their vicinity.
3. Anticipating and responding to questions from
new customers in 2012.
11
Bogor
24 July 2012

potential LNG customers
in Bogor
Using gas from LNG NR Regasification
12
Bogor
16 August 2012
Customer gathering breaking the fast

together
Breaking the fast with industrial customers,

partners & PGN employees in the Bogor area
13
Bekasi Karawang
Dissemination for
customers, BekasiKarawang Area
Using Natural Gas to drive growth for a Brighter

Future
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No
Area
292
Date
Theme
Materials
14
Bekasi Karawang
Dissemination to
household customers,
Bekasi-Karawang Area
PGN as Energy for Life, for Households (Phase I)
15
Bekasi Karawang
Dissemination to
household customers,
Bekasi-Karawang Area
PGN as Energy for Life, for Households (Phase II)
16
Bekasi Karawang
Information on
Distribution of Gas from
LNG Regasification
1. Distribution of gas from LNG regasification to

meet industry needs in Western Java
2. Calculation procedure for the use of LNG from
Gagas
3. Company Profile of PT Gagas
17
Cirebon
10 October 2012

customers
1. Explanation of regulations on becoming a gas

customer and installation
2. Explanation of general regulations, payment
guarantee
3. Explanation about OSH education
18
Cirebon
31 October 2012
Customer Gathering
for existing household
customers

guarantee
19
Cirebon
31 October 2012
Customer Gathering
customers

guarantee
20
Cirebon
7 November 2012
Customer Gathering
customers

guarantee
21
Cirebon
8 November 2012
Customer Gathering
customers

guarantee
22
Cirebon
13 November 2012
Customer Gathering
customers

guarantee
23
Palembang
4 April 2012
Evaluation of
gas subscription
Discussion about subscribing gas from PGN
Annual Report 2012
energy for life
Corporate Social
293
No
Area
Date
Theme
Materials
24
Palembang
12 - 13 June 2012

customers in 2012
Procedure for becoming a Natural Gas customer

and the safe use of natural gas
25
Palembang
10 July 2012

customers in 2012
Procedure for becoming a Natural Gas customer

and the safe use of natural gas
26
Palembang
25 September 2012
Customer Gathering with

PLN Talang Duku
Discussion of issues regarding PJBG and being a gas

customer
27
Palembang
4 October 2012
Customer Gathering with

PT Indofood CBP Sukses
Makmur Tbk Branch
Palembang
Discussion of issues regarding PJBG and being a gas

customer, and records of actual usage
28
Palembang
16 October 2012
Customer Gathering on
behalf of Rasyidi
Discussing about subscribing gas
29
Palembang
October 2012
Knowledge sharing with

PDAM Tirta Musi
Comparative study of distribution companies in

Palembang
30
Palembang
26 December 2012
Interbis customer
gathering, CV Sumber
Terang Mulia and PLN
Workshop and introduction of PGNs

Heads of Department
Customer Gatherings at SBU II

No
Area
Date
Theme
Materials
SBU II
31 October 2012
Customer Gathering
2012
Compressor System Modification Santos Plan
SBU II
13 December 2012
Customer Seminar
2012
Good Safety Good Business
Pasuruan Area
13 June 2012
Customer Hospitality
2012
Optimizaing Customers Gas Absorption and

Contact Center Socialization
22 June 2012
7
Annual Report 2012
energy for life
Corporate Social
294
Customer Gatherings at SBU III

No
Area
Date
Customer Gathering
Name
Medan Area
12 April 2012
Customer Gathering
for prospective
household customers
Materials
Theme: Natural Gas - Cheap and Environmentally
Friendly
Presentation on Procedure for Becoming a Gas
Customer, by AE RT Medan (Mukhrin)
Presentation on Installation of Gas Pipeline by
Kasie LT Medan (Hery Purwanto)
Safety Presentation by Kasie K3 (Azward)
Batam Pekanbaru Area
23 - 24 June 2012
Gathering with
industrial customers
in Batam Area
1. Customer Gathering on the theme of:

Excellent Service with the Focus on the
Customer
2. Team Building Games
3. Golf Competition
Medan Area
28 June 2012
Gathering with
household customers
in Medan Area
Presentations by:
Household AE to explain PGNs regulations
regarding pipeline installation, the positioning
of customer meters, and other matters that
customers need to know
Head of OSH&EM Department in relation to the
safety aspects of pipeline installation.
Medan Area
Futsal Gembira:
Sunday 7 October
2012 at Futsal
Field Cemara Sport
Center, Jalan Cemara
Simpang Krakatau,
Medan
Gathering with
industrial customers
in Medan Area
The concept for Industry Customer Gatherings in

2012 was a Customer Appreciation, packaged
with a number of sports activities, including golf
and futsal matches, and a meal.
Golf: Sunday, 14
October 2012 at Royal
Sumatera Gold CLub,
Jalan Jamin Ginting
Medan
5 Receptions for
customers, attended
by 7-8 customers
2 representatives
from the companys
management.
Implemented on
11-17 October 2012
from 12 pm - 2 pm
at Bakerzin Cafe and
Traders Cafe and
Restaurant
Annual Report 2012
energy for life
Corporate Social
295
Expenditure on Activities Related to

PGN continued to update its Service Excellence standards to enable
the Company to meet customer expectations and deliver excellent
service. Working with an independent service provider, PGN mapped
customer expectations against the Companys current condition and
published a Service Excellence Pocket Book, which is used throughout
the Company. This demonstrates the strong commitment on the
part of the Company and each employee to delivering customer
satisfaction and preparing the company to meet the business and
competitive challenges in the future. In 2012, PGNs expenditure on
driving improvements in the quality of customer service and customer
satisfaction amounted to Rp 3.3 billion.
Annual Report 2012
energy for life
Corporate Social
296
PT Dalle Energy is PGNs largest customer in Batam, using natural gas for its non-PLN power.
Annual Report 2012
energy for life
Corporate
Social
Tentang
Perseroan
297
Profil Manajemen
Consolidated Financial
Statements
Annual Report
Laporan
Tahunan
2012
2012energy
energy
for for
life life

dan entitas anak/and subsidiaries
Laporan keuangan konsolidasian
beserta laporan auditor independen
31 Desember 2012 dan 2011 (Disajikan Kembali)
dan 1 Januari 2011/31 Desember 2010 (Disajikan Kembali)
dan tahun yang berakhir pada tanggal-tanggal
31 Desember 2012 dan 2011 (Disajikan Kembali)/
Consolidated financial statements
with independent auditors report
December 31, 2012 and 2011 (As Restated)
and January 1, 2011/ December 31, 2010 (As Restated)
And years ended December 31, 2012
and 2011 (As Restated)
Purwantono, Suherman & Surja

Registered Public Accountants KMK No. 381/KM.1/2010
A member from of Ernst & Young Global Limited
The original consolidated financial statements included herein are in

the Indonesian language.
PT PERUSAHAAN GAS NEGARA (PERSERO) TBK

DAN ENTITAS ANAK
LAPORAN KEUANGAN KONSOLIDASIAN BESERTA
LAPORAN AUDITOR INDEPENDEN TAHUN YANG
BERAKHIR PADA TANGGAL-TANGGAL
31 DESEMBER 2012
DAN 2011 (DISAJIKAN KEMBALI)
DAN 1 JANUARI 2011/
31 DESEMBER 2010 (DISAJIKAN KEMBALI)
Daftar Isi

AND SUBSIDIARIES
CONSOLIDATED FINANCIAL STATEMENTS WITH
INDEPENDENT AUDITORS REPORT YEARS
ENDED DECEMBER 31, 2012,
AND 2011 (AS RESTATED) AND
JANUARY 1, 2011/ DECEMBER 31, 2010
(AS RESTATED)
Table of Contents
Page
Halaman
Laporan Auditor Independen
Independent Auditors Report
Laporan Posisi Keuangan Konsolidasian .. 1-2
Consolidated Statements of Financial Position..1-2
Laporan Laba Rugi Komprehensif

Konsolidasian 3-4
Consolidated Statements of Comprehensive

Income 3-4
Laporan Perubahan Ekuitas Konsolidasian ................... 5
Consolidated Statements of Changes in

Equity 5
Laporan Arus Kas Konsolidasian ................................... 6
Consolidated Statements of Cash Flows ..6
Catatan atas Laporan Keuangan

Konsolidasian 7-213
Notes to the Consolidated Financial

Statements.........7-213
***************************
***************************
Consolidated Financial Statements
301
Annual Report 2012
302
Annual Report 2012
303
Annual Report 2012
304


DAN ENTITAS ANAK
LAPORAN POSISI KEUANGAN KONSOLIDASIAN
dan 1 Januari 2011/31 Desember 2010
(Disajikan Kembali)
(Disajikan Dalam Dolar AS,
Kecuali Dinyatakan Lain)
Catatan/
Notes
31 Des. 2012/
Dec. 31, 2012

AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL
POSITION
and January 1, 2011/December 31, 2010
(As Restated)
(Expressed in US Dollar, Unless Otherwise Stated)
31 Des. 2011/
Dec. 31, 2011
(Disajikan Kembali Catatan 2r/
As Restated Note 2r)
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
ASET
ASET LANCAR
Kas dan setara kas
Kas yang dibatasi penggunaannya
Investasi jangka pendek
Piutang usaha - setelah dikurangi
cadangan kerugian penurunan nilai
sebesar US$13.682.461
pada tanggal 31 Desember 2012,
US$12.379.728 pada
tanggal 31 Desember 2011 dan
US$10.966.854 pada
tanggal 1 Januari 2011/
31 Desember 2010
Piutang lain-lain - neto
Persediaan - neto
Uang muka jatuh tempo dalam
waktu satu tahun
Pajak dibayar di muka
Beban dibayar di muka
ASSETS
2d,2e,2f,2r,4,
32,34,37,38,39,42
2d,2e,2f,2r,5,18,
32,34,37,38,39,42
2d,2f,2h,2r,3,6,
32,37,38,39
2d,2f,2r,3,7,
25,32,37,38,39
2d,2r,8,10,
25,37,38,39
2g,2r,9
2f,2r,8,10,
32,34,39,42
2r,2s,19,39
2r,11
Total Aset Lancar

ASET TIDAK LANCAR
Uang muka - setelah dikurangi
bagian jatuh tempo dalam
waktu satu tahun
Aset pajak tangguhan - neto
Penyertaan saham
Aset tetap - setelah dikurangi
akumulasi penyusutan sebesar
sebesar US$1.285.416.180
US$1.098.042.555 pada tanggal
31 Desember 2011 dan
US$909.671.553 pada tanggal
1 Januari 2011/31 Desember 2010
Estimasi tagihan pajak
Aset tak berwujud - neto
Lain-lain
CURRENT ASSETS
1,567,458,346
1,141,361,864
1,230,741,263
Cash and cash equivalents
8,478,599
3,624,251
707,189
Restricted cash
108,286,034
27,276,060
258,652,097
219,462,759
210,387,486
Short-term investments
Trade receivables - net of
allowance for impairment losses
of US$13,682,461
as of December 31, 2012,
US$12,379,728
as of December 31, 2011 and
US$10,966,854 as of
January 1, 2011/
December 31, 2010
5,068,328
2,445,065
5,896,009
1,974,322
6,150,616
2,564,799
27,977,862
5,451,706
101,737,023
156,482
5,267,466
84,043,351
1,829,809
5,859,398
Other receivables - net

Inventories - net
Current maturities of
advances
Prepaid taxes
Prepaid expenses
1,983,818,037
1,506,756,236
1,542,283,911
Total Current Assets

NON-CURRENT ASSETS
2f,2r,8,10,
32,34,39,42
2r,2s,3,19
2f,2h,2j,2r,12,32,34
110,922,142
38,264,346
65,952,471
81,075,539
20,788,713
45,000,454
119,573,324
15,684,989
21,490,854
1,693,759,814
10,342,095
2,887,788
2,215,626
1,733,532,415
9,802,057
1,229,796
1,991,795
1,837,398,444
162,531
1,129,660
2,433,686
Advances - net of
current maturities
Deferred tax assets - net
Fixed assets - net of accumulated
depreciation of US$1,285,416,180
US$1,098,042,555
US$909,671,553
as of January 1, 2011/
December 31, 2010
Intangible assets - net
Others
Total Aset Tidak Lancar
1,924,344,282
1,893,420,769
1,997,873,488
Total Non-Current Assets
TOTAL ASET
3,908,162,319
3,400,177,005
3,540,157,399
TOTAL ASSETS
2i,2j,2m,2r,3,
13,24,25,34,41
2r,2s,19
2r,2k,14,42
Catatan atas laporan keuangan konsolidasian terlampir

merupakan bagian yang tidak terpisahkan dari laporan keuangan
konsolidasian secara keseluruhan.
The accompanying notes to the consolidated financial statements

form an integral part of these consolidated financial statements
taken as a whole.
Annual Report 2012
305

DAN ENTITAS ANAK
LAPORAN POSISI KEUANGAN
KONSOLIDASIAN (lanjutan)
(Disajikan Kembali)
Catatan/
Notes
31 Des. 2012/
Dec. 31, 2012

AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL
POSITION (continued)
December 31, 2012 and 2011 (As Restated) and
January 1, 2011/December 31, 2010
(As Restated)
31 Des. 2011/
Dec. 31, 2011
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
LIABILITAS DAN EKUITAS

LIABILITAS JANGKA PENDEK
Utang usaha
Liabilitas yang masih harus dibayar
Liabilitas imbalan kerja jangka pendek
Utang lain-lain
Utang pajak
Pinjaman jangka panjang jatuh
tempo dalam waktu satu tahun
LIABILITIES AND EQUITY

2d,2f,2r,15,
32,34,37,38
2d,2p,2r,16,17,
18,37,38,39,42
2d,2p,2r,30
37,38,39,42
2d,2p,2r,13,16,
17,33,37,38,39
2r,2s,3,19,39
2d,2f,2l,2r,17,
18,32,34,37,38,39
Total Liabilitas Jangka Pendek

LIABILITAS JANGKA PANJANG
Liabilitas pajak tangguhan - neto
Utang derivatif
Pinjaman jangka panjang - setelah
dikurangi bagian jatuh tempo
dalam waktu satu tahun
Liabilitas jangka panjang
imbalan kerja
Pendapatan diterima di muka
2r,2s,19
2d,2r,2v,3,
28,37,38
CURRENT LIABILITIES
189,130,962
61,149,611
71,626,169
Trade payables
42,257,980
38,229,660
49,131,949
37,302,957
34,038,617
28,989,388
Accrued liabilities
Short-term employees
benefits liabilities
24,800,904
80,629,393
20,785,064
21,386,261
25,011,543
46,637,684
98,627,228
98,257,111
227,470,654
Other payables
Taxes payable
long-term loans
472,749,424
273,846,324
448,867,387
Total Current Liabilities
650,855
2,585,876
5,380,026
NON-CURRENT LIABILITIES
Deferred tax liability - net
87,115,630
178,315,793
188,620,017
Derivative payable
2d,2f,2l,2r,17,18,
32,34,37,38,39
840,006,527
993,976,073
1,194,849,188
2q,2r,3,30
2r,34
149,495,805
3,352,100
68,585,122
3,510,548
47,756,361
3,668,992
Long-term loans - net of

current maturities
Long-term liabilities for
employees benefits
Unearned income
Total Liabilitas Jangka Panjang
1,080,620,917
1,246,973,412
1,440,274,584
Total Non-Current Liabilities
TOTAL LIABILITAS
1,553,370,341
1,520,819,736
1,889,141,971
TOTAL LIABILITIES
EKUITAS
EQUITY
Ekuitas yang dapat diatribusikan

kepada pemilik entitas induk
Modal saham - nilai nominal
US$0,014 per saham
Modal dasar - 70.000.000.000 saham
yang terdiri dari 1 saham Seri A
Dwiwarna dan 69.999.999.999
Saham seri B
344,018,831
(251,054)
192,555,960
344,018,831
(251,054)
192,555,960
1,092,941,286
649,327,501
789,957,094
439,246,778
528,622,591
484,371,222
Equity attributable to owners of

the parent entity
Share capital
Par value US$0.014 per share
Authorized - 70,000,000,000 shares
which consist of 1 Series A
Dwiwarna share and 69,999,999,999
Series B share
Issued and fully paid 24,241,508,196 shares which
consist of 1 Series A Dwiwarna
share and 24,241,508,195
Series B shares
Treasury stock
Other paid-in capital
Retained earnings
Appropriated
Unappropriated
(35,301,648)
(45,946,520)
(35,301,648)
1,804,930
(35,301,648)
1,252,468
Difference arising from restructuring

among entities under common control
Other components of equity
2,197,344,356
1,732,030,891
1,515,268,370
Total Equity Attributable to Owners

of the Parent Entity
157,447,622
147,326,378
135,747,058
Non-controlling interests
TOTAL EKUITAS
2,354,791,978
1,879,357,269
1,651,015,428
TOTAL EQUITY
TOTAL LIABILITAS DAN EKUITAS
3,908,162,319
3,400,177,005
3,540,157,399
TOTAL LIABILITIES AND EQUITY
Modal ditempatkan dan disetor penuh 24.241.508.196 saham yang terdiri dari
1 saham Seri A Dwiwarna dan
24.241.508.195 saham Seri B
Modal saham diperoleh kembali
Modal disetor lainnya
Saldo laba
Dicadangkan
Tidak dicadangkan
Selisih transaksi restrukturisasi
entitas sepengendali
Komponen ekuitas lainnya
2r,20
2r,20
2n,2r,20
2r,21,33
2c, 2r
2r
2s,6,19,30
Total Ekuitas yang Dapat Diatribusikan

Kepada Pemilik Entitas Induk
Kepentingan nonpengendali
2c,2r,31
344,018,831
(251,054)
192,555,960


taken as a whole.
Annual Report 2012
306

DAN ENTITAS ANAK
LAPORAN LABA RUGI KOMPREHENSIF
KONSOLIDASIAN
Tahun Yang Berakhir Pada Tanggal-Tanggal
31 Des. 2012/
Dec. 31, 2012
PENDAPATAN NETO
2,576,493,037
BEBAN POKOK PENDAPATAN
(1,104,101,733)
LABA BRUTO
1,472,391,304
Pendapatan lain-lain
Distribusi dan transmisi
Umum dan administrasi
Beban lain-lain
LABA OPERASI
Laba (rugi) perubahan nilai wajar
derivatif - neto
Laba (rugi) kurs - neto
Pendapatan keuangan
Bagian laba (rugi) dari entitas asosiasi
Beban keuangan
LABA SEBELUM MANFAAT
(BEBAN) PAJAK

AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF
COMPREHENSIVE INCOME
Years Ended
(Expressed in US Dollar,
Unless Otherwise Stated)
31 Des. 2011/
Dec. 31, 2011
Catatan/
Notes
2f,2o,2r,2t,
22,32,40
2f,2o,2r,2t,
23,32,34,40
(888,467,843)
1,341,929,233
21,415,500
2o,2r
(269,894,769) 2o,2r,2t,13,24,30
2o,2r,2t,7,8,
(204,389,934)
13,25,30,33
(1,038,741 )
2o,2r
1,018,483,360
65,101,054
49,757,553
27,824,136
8,718,596
(21,576,672 )
2,230,397,076
1,148,308,027
(178,257,491)
(6,166,815)
General and administrative

Other expenses
(177,981,985)
7,908,487
TAX BENEFIT (EXPENSE)

Current
Deferred
Tax Expense - Net
Beban Pajak - Neto
(233,051,777)
(170,073,498)
LABA TAHUN BERJALAN
915,256,250
701,900,519
7,794,787
(8,734,002)
2d,2f,2h,2r,6
2q,30
(1,724,744 )
2r
Sub-total
(2,663,959 )
Gain (loss) on change in fair value of

derivative - net
Gain (loss) on foreign exchange - net
Finance income
Share in profit (loss) of the of associates
Finance cost
PROFIT BEFORE
(238,367,358 )
5,315,581
PENDAPATAN KOMPREHENSIF LAIN

Aset keuangan
tersedia untuk dijual
Kerugian aktuaria
Selisih kurs karena penjabaran
laporan keuangan
Entitas Anak - neto
OPERATING PROFIT
871,974,017
MANFAAT (BEBAN) PAJAK

Kini
Tangguhan
2r,2s,19
2r,2s,19
GROSS PROFIT
Other income
Distribution and transmission
(1,308,732)
(26,249,402)
35,107,116
(6,022,062)
(27,709,566)
2o,2r,18,26
COST OF REVENUES
20,878,662
(280,226,926)
898,156,663
2r,2v,28
2r,29
2o,2r,5,27
NET REVENUES
1,119,417
(562,756)
PROFIT FOR THE YEAR

OTHER COMPREHENSIVE INCOME
Available-for-sale
financial assets
Actuarial losses
Difference in foreign currency
translation of the financial statements
of Subsidiaries - net
556,661
Sub-total
Income tax effect
Pajak penghasilan terkait
1,906,393
2s,19
TOTAL PENDAPATAN KOMPREHENSIF

LAIN SETELAH PAJAK
(757,566)
556,661
TOTAL OTHER COMPREHENSIVE

INCOME AFTER TAX

TAHUN BERJALAN
914,498,684
702,457,180
TOTAL COMPREHENSIVE
INCOME FOR THE YEAR


taken as a whole.
Annual Report 2012
307
PT PERUSAHAAN GAS NEGARA (PERSERO) Tbk

DAN ENTITAS ANAK
LAPORAN LABA RUGI KOMPREHENSIF
KONSOLIDASIAN (lanjutan)
31 Des. 2012/
Dec. 31, 2012
LABA TAHUN BERJALAN
YANG DAPAT DIATRIBUSIKAN KEPADA:
Pemilik entitas induk
890,885,456
24,370,794
TOTAL
915,256,250

TAHUN BERJALAN YANG DAPAT
DIATRIBUSIKAN KEPADA:
889,696,452
24,802,232
TOTAL
914,498,684
LABA TAHUN BERJALAN YANG

DAPAT DIATRIBUSIKAN KEPADA
PEMILIK ENTITAS INDUK
PER SAHAM, DASAR

AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF
COMPREHENSIVE INCOME (continued)
Years Ended
Catatan/
Notes
2c
31 Des. 2011/
Dec. 31, 2011
680,804,733
21,095,786
PROFIT FOR THE YEAR

ATTRIBUTABLE TO:
Owners of the parent entity
701,900,519
TOTAL
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR ATTRIBUTABLE TO:
0.04
2c
2r,2u,36

681,357,195
21,099,985

702,457,180
TOTAL
0.03
PROFIT FOR THE YEAR

ATTRIBUTABLE TO EQUITY
HOLDERS OF THE PARENT ENTITY
PER SHARE, BASIC

taken as a whole.
Annual Report 2012
2r
Total pendapatan komprehensif

tahun berjalan, disajikan kembali
Annual Report 2012
21
21
344,018,831
(251,054)
(251,054)
(251,054)
(251,054)
344,018,831
21
21,33
21,33
2q
344,018,831
344,018,831
21
2r
21
21,33
21,33
(251,054)
Modal Saham
Diperoleh Kembali/
Treasury Stock
192,555,960
192,555,960
192,555,960
192,555,960
192,555,960
Modal Disetor
Lainnya/
Other Paid
in Capital
1,092,941,286
302,984,192
-
789,957,094
789,957,094
789,957,094
261,334,503
-
528,622,591
Dicadangkan/
Appropriated
649,327,501
(302,984,192)
-
(352,205,589)
(12,807,476)
(12,807,476)
890,885,456
890,885,456
439,246,778
439,246,778
439,246,778
(261,334,503)
-
(435,557,506)
(14,518,584)
(14,518,584)
680,804,733
680,804,733
484,371,222
Tidak
Dicadangkan/
Unappropriated
Saldo Laba/Retained Earning
(35,301,648)
(35,301,648)
(35,301,648)
(35,301,648)
(35,301,648)
(1,039,391)
(1,724,904)
(1,724,904)
685,513
685,513
685,513
(566,955)
(566,955)
1,252,468
Selisih
Kurs karena
Selisih Transaksi
Penjabaran
Restrukturisasi
Laporan Keuangan
Entitas
Entitas Anak/
Sepengendali/
Difference in
Difference Arising Foreign Currency
from Restructuring
Translation
Transaction among of the Financial
Entities under
Statements
Common Control
of Subsidiaries
Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan konsolidasian secara keseluruhan.
Saldo pada tanggal 31 Desember 2012
Pembayaran dividen
Dana untuk program kemitraan
Dana untuk program bina lingkungan
Pencadangan saldo laba untuk
cadangan tujuan
Pembayaran dividen dari Entitas Anak

tahun berjalan
Laba tahun berjalan

Pendapatan komprehensif lain
Setelah penyesuaian
Penyesuaian neto yang timbul dari penerapan

Pernyataan Standar Akuntansi Keuangan
(PSAK) No. 24 (Revisi 2010),
Imbalan Kerja
Saldo pada tanggal 1 Januari 2012,

sebelum penyesuaian
Saldo pada tanggal 31 Desember 2011,

disajikan kembali
Pembayaran dividen
Pencadangan saldo laba untuk
cadangan tujuan
Pembayaran dividen dari Entitas Anak
2r
344,018,831
2r
2r
Laba tahun berjalan, disajikan kembali

disajikan kembali
Saldo pada tanggal 1 Januari 2011/

31 Desember 2010, disajikan kembali
Catatan/
Notes
Modal Saham
Ditempatkan dan
Disetor Penuh/
Issued and Fully
Paid Capital
Stock
__________________________
8,914,204
7,794,787
7,794,787
1,119,417
1,119,417
1,119,417
1,119,417
1,119,417
Aset Keuangan
yang Tersedia
untuk Dijual/
Available
for-sale
financial assets
(45,946,520)
(1,189,004)
(1,189,004)
(44,757,516)
(46,562,446)
1,804,930
1,804,930
552,462
552,462
1,252,468
Total Komponen
Ekuitas Lainnya/
Total Other
Components
of Equity
157,447,622
(14,045,500)
24,802,232
431,438
24,370,794
146,690,890
(635,488)
147,326,378
147,326,378
(9,520,665)
21,099,985
4,199
21,095,786
135,747,058
2,354,791,978
(14,045,500)
(352,205,589)
(12,807,476)
(12,807,476)
914,498,684
(757,566)
915,256,250
1,832,159,335
(47,197,934)
1,879,357,269
1,879,357,269
(9,520,665)
(435,557,506)
(14,518,584)
(14,518,584)
702,457,180
556,661
701,900,519
1,651,015,428
Total Ekuitas/
Total Equity
Balance as of December 31, 2012
Appropriation for specific reserve

Payment of dividends by a Subsidiary
Payment of dividends
Funds for partnership program
Funds for community development
Total comprehensive income for the year
Other comprehensive income
Profit for the year
After adjustment
Net adjustment arising from adoption

of Statement of Financial Accounting
Standard (PSAK) No. 24 (Revised 2010),
Employee Benefits
Balance, January 1, 2012,

before adjustment
Balance as of December 31, 2011, as restated

Payment of dividends by a Subsidiary
Total comprehensive income for the year, as restated
Other comprehensive income, as restated
Profit for the year, as restated
Balance as of January 1, 2011/

December 31, 2010, as restated
The accompanying notes to the consolidated financial statements form an integral part of these consolidated financial statements taken as a whole.
(53,821,333)
(7,258,887)
(7,258,887)
(46,562,446)
(46,562,446)
Keuntungan
dan kerugian
aktuaria/
Actuarial
gains and
losses
Kepentingan
Nonpengendali/
Non-controlling
Interests

AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
Years Ended December 31, 2012 and 2011 (As Restated)
Komponen Ekuitas Lainnya/Other Components of Equity
Ekuitas yang Dapat Diatribusikan Kepada Pemilik Entitas Induk/Equity Attributable to Owners of the Parent Enity

DAN ENTITAS ANAK
LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN
Tahun Yang Berakhir Pada Tanggal-Tanggal 31 Desember 2012 dan 2011 (Disajikan Kembali)
(Disajikan Dalam Dolar AS, Kecuali Dinyatakan Lain)
The original consolidated financial statements included herein are in the Indonesian language.
308
309


DAN ENTITAS ANAK
LAPORAN ARUS KAS KONSOLIDASIAN
31 Des. 2012/
Dec. 31, 2012
ARUS KAS DARI AKTIVITAS
OPERASI
Penerimaan dari pelanggan
Penerimaan dari penghasilan bunga
Pembayaran kepada pemasok
Pembayaran untuk beban operasi
dan aktivitas operasi lainnya
Pembayaran kepada karyawan
Pembayaran pajak penghasilan
setelah dikurangi penerimaan
dari tagihan pajak
Pembayaran bunga
Kas neto yang diperoleh dari
aktivitas operasi
INVESTASI
Penambahan aset tetap
Penambahan investasi jangka pendek
Penambahan penyertaan saham
Penambahan kas yang
dibatasi penggunaannya
Penambahan biaya ditangguhkan
Kas neto yang digunakan untuk
aktivitas investasi
PENDANAAN
Penerimaan atas penyertaan saham
oleh kepentingan nonpengendali
Entitas Anak
Pembayaran dividen
Pembayaran pinjaman
Pembayaran atas derivatif
Pembayaran untuk program kemitraan
dan bina lingkungan
Hasil pinjaman utang

AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
Years Ended December 31, 2012 and 2011
(As Restated) (Expressed in US Dollar,
Catatan/
Notes
31 Des. 2011/
Dec. 31, 2011
2,585,937,818
28,611,949
(957,261,487 )
2,221,685,309
42,308,295
(878,854,180)
(187,800,150 )
(59,785,653 )
(112,832,296)
(59,538,369)
(221,120,643 )
(22,163,413 )
(243,348,714)
(22,148,569)
1,166,418,421
CASH FLOWS FROM OPERATING

ACTIVITIES
Receipts from customers
Receipts from interest income
Payments to suppliers
Payments for operating expenses
and other operating activities
Payments to employees
Payments for income taxes
net of receipts from
claims for tax refund
Payments for interest
Net cash provided by
operating activities
947,271,476
(78,188,818)
(5,993,750)
(24,202,420)
CASH FLOWS FROM INVESTING

ACTIVITIES
Additions to fixed assets
Additions to short-term investments
Increase in investment in shares of stock
(4,933,727)
(8,924)
(2,917,061)
(925)
Additions to restricted cash

Increase in deferred charges
(250,293,578 )
(111,302,974)
Net cash used in

investing activities
(159,296,204)
(73,826,325)
(12,228,398)
(25,096,388 )
-
(29,172,934)
220,866
CASH FLOWS FROM FINANCING

ACTIVITIES
Receipts from the issuance
of shares to non-controlling
interest of the Subsidiary
Payments of dividends
Payments of loans
Payments of derivative
Payments for partnership and community
development program
Proceeds from loan borrowings
(460,259,866)
(897,780,152)
Net cash used in

financing activities
Pengaruh perubahan kurs neto

dari kas dan setara kas
(29,768,495 )
(27,567,749)
Net effects of foreign exchange differences

on cash and cash equivalents
KENAIKAN (PENURUNAN) NETO

KAS DAN SETARA KAS
426,096,482
(89,379,399)
NET INCREASE (DECREASE) IN

CASH AND CASH EQUIVALENTS

aktivitas pendanaan
4,715
(327,730,116 )
(81,338,968 )
(26,099,109 )
KAS DAN SETARA KAS

AWAL TAHUN
1,141,361,864
KAS DAN SETARA KAS

AKHIR TAHUN
1,567,458,346
12
21
2e,5

(450,058,318)
(416,512,113)
(2,257,653)
1,230,741,263

AT BEGINNING OF YEAR
1,141,361,864

AT END OF YEAR
The accompanying notes to the consolidated financial

statements form an integral part of these consolidated financial
statements taken as a whole.
Annual Report 2012
310
The original consolidated financial statements included herein are in the
Indonesian language.

DAN ENTITAS ANAK
CATATAN ATAS LAPORAN KEUANGAN
KONSOLIDASIAN
Pada Tanggal 31 Desember 2012,
dan 2011 (Disajikan Kembali)
dan 1 Januari 2011/31 Desember 2010 (Disajikan
Kembali) dan Untuk Tahun yang Berakhir Pada
Tanggal-Tanggal 31 Desember 2012 dan 2011
(Disajikan Kembali) (Disajikan Dalam Dolar AS,
1.

AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS
As of December 31, 2012 and 2011 (As Restated)
(As Restated) And Years Ended
December 31, 2012
UMUM
a.
1. GENERAL
Pendirian Perusahaan
a.
The Companys Establishment

(Perusahaan) pada awalnya bernama
Firma L. J. N. Eindhoven & Co. Gravenhage
yang didirikan pada tahun 1859. Kemudian,
pada tahun 1950, pada saat diambil alih oleh
Pemerintah Belanda, Perusahaan diberi
nama NV. Netherland Indische Gaz
Maatschapij (NV. NIGM). Pada tahun 1958,
saat diambil alih oleh Pemerintah Republik
Indonesia, nama Perusahaan diganti menjadi
Badan
Pengambil
Alih
PerusahaanPerusahaan Listrik dan Gas (BP3LG) yang
kemudian beralih status menjadi BPU-PLN
pada tahun 1961. Pada tanggal 13 Mei 1965,
berdasarkan
Peraturan
Pemerintah
No. 19/1965, Perusahaan ditetapkan sebagai
perusahaan negara dan dikenal sebagai
Perusahaan Negara Gas (PN. Gas).
Berdasarkan
Peraturan
Pemerintah
No. 27 tahun 1984, PN. Gas diubah menjadi
Perusahaan Umum (Perum) dengan nama
Perusahaan Umum Gas Negara. Setelah itu,
status Perusahaan diubah dari Perum
menjadi perusahaan perseroan terbatas yang
dimiliki oleh negara (Persero) dan namanya
berubah menjadi PT Perusahaan Gas Negara
(Persero) berdasarkan Peraturan Pemerintah
No. 37 tahun 1994 dan Akta Pendirian
Perusahaan No. 486 tanggal 30 Mei 1996
yang
diaktakan
oleh
Notaris
Adam
Kasdarmaji, S.H. Akta Pendirian telah
disahkan oleh Menteri Kehakiman Republik
Indonesia
dalam
Surat
Keputusan
No.
C2-7729HT.01.01.Th.96.
tanggal
31 Mei 1996 dan diumumkan dalam
Lembaran Berita Negara Republik Indonesia
No. 8508 Tambahan Berita Negara No. 80
tanggal 4 Oktober 1996.

(the
Company)
originally
named
Firma L. J. N. Eindhoven & Co. Gravenhage,
was established in 1859. Subsequently, the
entity was named NV. Netherland Indische
Gaz Maatschapij (NV. NIGM), when the
Dutch Government took control in 1950. In
1958, when the Government of the Republic
of Indonesia took over the entity, the
Companys name was changed to Badan
Pengambil Alih Perusahaan-Perusahaan
Listrik dan Gas (BP3LG) and then later
became BPU-PLN in 1961. On May 13, 1965,
based
on
Government
Regulation
No. 19/1965, the entity was declared as a
company
(Perusahaan
state-owned
Negara) and became known as Perusahaan
Negara Gas (PN. Gas). Based on
Government Regulation No. 27 year 1984,
PN. Gas was converted into a public Service
Enterprise (Perum) under the name
Perusahaan Umum Gas Negara. Afterwards,
the status of the Company was changed from
Perum to a state-owned limited liability
company (Persero) and the name was
changed to PT Perusahaan Gas Negara
(Persero) based on Government Regulation
No. 37 year 1994 and the Deed of
Establishment No. 486 dated May 30, 1996
as notarized by Adam Kasdarmaji, S.H. The
Deed of Establishment was approved by the
Ministry of Justice of the Republic of
Indonesia
in
its
Decision
Letter
No.
C2-7729HT.01.01.Th.96.
dated
May 31, 1996 and was published in the State
Gazette of the Republic of Indonesia
No. 8508 dated October 4, 1996, Supplement
No. 80.
Anggaran
Dasar
Perusahaan
telah
mengalami beberapa kali perubahan, yang
terakhir dengan Akta Notaris No. 107 dari
Notaris Aryanti Artisari, S.H., M.Kn., tanggal
22 Mei 2012, yang mengatur, antara lain,
perubahan susunan Dewan Komisaris dan
Direksi. Perubahan ini telah dilaporkan dan
diterima oleh Menteri Hukum dan Hak Asasi
Manusia Republik Indonesia dalam Surat
Penerimaan
No.
AHU-AH.01.10-28564
tanggal 2 Agustus 2012.
The Companys Articles of Association have

been amended several times, most recently by
Notarial Deed No. 107 of Notary Aryanti
Artisari, S.H., M.Kn., dated May 22, 2012,
concerning, among others, the change in the
composition of the Boards of Commissioners
and Directors of the Company. The
amendments were reported to and accepted by
the
Ministry
of
Laws
and
Human
Rights of the Republic of Indonesia
in
its
Acknowledgment
Letter
No. AHU-AH.01.10-28564 dated August 2,
2012.
Annual Report 2012
311

DAN ENTITAS ANAK
KONSOLIDASIAN
1.

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
UMUM (lanjutan)
a.
1.
Pendirian Perusahaan (lanjutan)
GENERAL (continued)
a.
The Companys Establishment (continued)
Sesuai dengan Pasal 3 Anggaran Dasar

Perusahaan dan Peraturan Pemerintah
No. 37 tahun 1994, Perusahaan bertujuan
untuk
melaksanakan
dan
menunjang
kebijaksanaan dan program Pemerintah di
bidang ekonomi dan pembangunan nasional,
khususnya
di
bidang
pengembangan
pemanfaatan gas bumi untuk kepentingan
umum serta penyediaan gas dalam jumlah
dan mutu yang memadai untuk melayani
kebutuhan masyarakat.
As stated in Article 3 of the Companys

Articles of Association and in the Government
Regulation No. 37 year 1994, the Companys
purpose is to implement and support the
Governments
economic
and
national
development
programs,
particularly
in
developing uses of natural gas for the benefit
of the public, as well as in the supply of a
sufficient volume and quality of gas for public
consumption.
Untuk mencapai tujuan tersebut, Perusahaan

dapat
melaksanakan
perencanaan,
pembangunan, pengelolaan dan usaha hilir
bidang gas bumi yang meliputi kegiatan
pengolahan, pengangkutan, penyimpanan
dan niaga, perencanaan, pembangunan,
penyediaan,
pengembangan
produksi,
penyaluran dan distribusi gas buatan; atau
usaha lain yang menunjang usaha di atas
sesuai
dengan
peraturan
perundangundangan yang berlaku. Pada saat ini, usaha
utama Perusahaan adalah distribusi dan
transmisi gas bumi ke pelanggan industri,
komersial dan rumah tangga.
To achieve these objectives, the Company is

to carry out planning, construction, operating
and development of natural gas downstream
business
which
includes
processing,
transporting, storing and trading, planning,
development,
construction,
production
supplying and distribution of processed gas;
or other businesses which support the
foregoing activities in accordance with
prevailing laws and regulations. Currently, the
Companys principal business is the
distribution and transmission of natural gas to
industrial, commercial and household users.
Kantor Pusat Perusahaan berkedudukan di

Jl. K.H. Zainul Arifin No. 20, Jakarta. Untuk
mencapai sasaran penjualan yang lebih
responsif, Perusahaan membagi wilayah
usaha menjadi empat Strategic Business Unit
(SBU), terbagi dalam:
The Companys Head Office is located at

Jl. K.H. Zainul Arifin No. 20, Jakarta.
To achieve its responsive sales target, the
Company has divided its business areas into
four Strategic Business Units (SBU), as
follows:
1.
SBU Distribusi Wilayah I, mencakup

Wilayah Jawa Bagian Barat sampai
dengan Sumatera Selatan, yang terdiri
dari Penjualan dan Layanan Area
Banten,
Jakarta-Bogor,
BekasiKerawang, Cirebon dan Palembang.
1. SBU Distribution I, covers Western Java

Region until South Sumatera, which
consists of Sales and Service Area
Banten, Jakarta-Bogor, Bekasi-Kerawang,
Cirebon and Palembang.
2.
SBU Distribusi Wilayah II, mencakup

Wilayah Jawa Bagian Timur, yang terdiri
dari Penjualan dan Layanan Area
Surabaya,
Sidoarjo-Mojokerto
dan
Pasuruan-Probolinggo.
2. SBU Distribution II, covers Eastern Java

Region, which consists of Sales and
Service
Area
Surabaya,
SidoarjoMojokerto and Pasuruan-Probolinggo.
3.
SBU Distribusi Wilayah III, mencakup

Wilayah Sumatera Utara dan Kepulauan
Riau, yang terdiri dari Penjualan dan
Layanan Area Medan, Batam dan
Pekanbaru.
3. SBU Distribution III, covers North

Sumatera Region and the Riau Islands,
which consists of Sales and Service Area
Medan, Batam and Pekanbaru.
Annual Report 2012
312

DAN ENTITAS ANAK
KONSOLIDASIAN
1.

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
UMUM (lanjutan)
a.
Pendirian Perusahaan (lanjutan)
GENERAL (continued)
a.
The Companys Establishment (continued)
SBU Transmisi Sumatera - Jawa,

dibentuk berdasarkan Surat Keputusan
Direksi No. 024200.K/12/UT/2006 pada
tanggal 18 Oktober 2006 sebagai unit
bisnis operasi transmisi gas bumi
Perusahaan yang berkedudukan di
Jakarta serta meliputi wilayah Sumatera Jawa.
4. SBU Sumatera - Java Transmission,

established based on Decision Letter of
Director No. 024200.K/12/UT/2006 dated
October 18, 2006, as a Companys
business unit for operation of natural gas
transmission domiciled in Jakarta and
covers Sumatera - Java region.
Perusahaan
melakukan
pembangunan
jaringan pipa transmisi gas Sumatera Selatan
- Jawa Barat I dan II dengan kapasitas yang
diharapkan pada saat proyek beroperasi
secara penuh masing-masing sebesar
460 mmscfd dan 520 mmscfd (tidak diaudit)
(Catatan 13).
The Company commenced the construction

of South Sumatera - West Java gas
transmission pipeline I and II with maximum
expected operating capacity of 460 mmscfd
and 520 mmscfd (unaudited), respectively
(Note 13).
Perusahaan dimiliki oleh Pemerintah Republik

Indonesia
selaku
pemegang
saham
mayoritas.
The Company is majorily owned by the

Government of the Republic of Indonesia.
4.
b.
1.
Penawaran Umum Efek Perusahaan
b.
The Companys Public Offering
Pada tanggal 5 Desember 2003, Perusahaan

memperoleh pernyataan efektif dari Badan
Pengawas Pasar Modal untuk melakukan
penawaran umum saham kepada masyarakat
sebanyak 1.296.296.000 saham, yang terdiri
dari 475.309.000 saham dari divestasi saham
Pemerintah Republik Indonesia, pemegang
saham Perusahaan dan 820.987.000 saham
baru. Saham Perusahaan dicatatkan di Bursa
Efek
Indonesia
pada
tanggal
15 Desember 2003.
On December 5, 2003, the Company

obtained the effective statement from Capital
Market Supervisory Agency to conduct the
public offering of its 1,296,296,000 shares
which comprised of 475,309,000 shares from
divestment of the Government of the
Republic of Indonesias shares, the
Companys shareholders and 820,987,000
new shares. The Companys shares were
listed at the Indonesia Stock Exchange on
December 15, 2003.
Berdasarkan
Risalah
Rapat
Umum
Pemegang Saham Luar Biasa yang diadakan
pada tanggal 13 Juni 2008 dan diaktakan
dengan Akta Notaris No. 49 dari Notaris
Fathiah Helmi, S.H., tanggal 13 Juni 2008,
para
pemegang
saham
menyetujui
pemecahan nilai nominal saham Seri A
Dwiwarna dan saham Seri B dari Rp500 per
saham menjadi Rp100 per saham, sehingga
jumlah saham Perusahaan meningkat dari
14 miliar saham menjadi 70 miliar saham dan
jumlah saham ditempatkan dan disetor penuh
yang semula sebesar 4.593.437.193 saham
akan meningkat menjadi 22.967.185.965
saham.
Based on the Minutes of the Extraordinary

General Shareholders Meeting held on
June 13, 2008 which were notarized in
Notarial Deed No. 49 of Notary Fathiah
Helmi, S.H., dated June 13, 2008, the
shareholders ratified the stock split of the
nominal value of Series A Dwiwarna share
and Series B shares from Rp500 per share to
Rp100 per share resulting in the increase of
the number of the Companys shares from
14 billion shares to become 70 billion shares
and increase in the issued and paid-up capital
from 4,593,437,193 shares to become
22,967,185,965 shares.
Annual Report 2012
313

DAN ENTITAS ANAK
KONSOLIDASIAN
1.

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
UMUM (lanjutan)
b.
Penawaran
(lanjutan)
1. GENERAL (continued)
Umum
Efek
Perusahaan
b.
Penyelesaian
Konsolidasian
Laporan
Keuangan
c.
Entitas Anak dan Entitas Asosiasi
d.
Tahun Usaha
Komersial Dimulai/
Year
of Commercial
Operations Started
Completion of the Consolidated Financial

Statements
Subsidiaries and Associates

As of December 31, 2012, December 31,
2011 and January 1, 2011/December 31,
2010, the percentage of ownership of the
Company, either directly or indirectly, and
total assets of the Subsidiaries are as follows:
Pada
tanggal
31
Desember
2012,
31 Desember 2011 dan 1 Januari 2011/
31 Desember 2010, persentase kepemilikan
Perusahaan, baik secara langsung maupun
tidak langsung dan total aset Entitas Anak
adalah sebagai berikut:
Entitas Anak,
Kegiatan Usaha, Kedudukan,
dan Tanggal Pendirian/
Subsidiaries,
Business Activities, Domiciles
and Date of Establishment
Offering
The accompanying consolidated financial

statements were completed and authorized
for issue by the Companys Directors on
February 18, 2013.
Laporan keuangan konsolidasian ini telah

diselesaikan dan disetujui untuk diterbitkan
oleh Direksi Perusahaan pada tanggal
18 Februari 2013.
d.
Public
Based on the Minutes of the Extraordinary

General Shareholders Meeting held on
December 22, 2008 which were notarized by
Fathiah Helmi, S.H., with Notarial Deed
No. 29, the shareholders approved the
Companys shares buy-back with maximum
fund
allocated
amounting
to
Rp450,000,000,000, which was taken from
other reserve of the Companys funds.
Berdasarkan
Risalah
Rapat
Umum
Pemegang Saham Luar Biasa yang diadakan
pada tanggal 22 Desember 2008 dan
diaktakan oleh Notaris Fathiah Helmi, S.H.,
dengan Akta No. 29, pemegang saham
menyetujui untuk dilakukannya pembelian
kembali saham Perusahaan (buy back
shares) dengan alokasi dana untuk buy back
maksimal sebesar Rp450.000.000.000 yang
diambil dari cadangan lain Perusahaan.
c.
The
Companys
(continued)
Persentase Kepemilikan/
Percentage of Ownership
Total Aset dalam Juta Dolar AS

Sebelum Eliminasi/
Total Assets in Millions US Dollar
Before Elimination
2012
2011
2010
2012
2011
2010
59.87%
59.87%
59.87%
555
616
686
2003**) 100.00%
100.00%
100.00%
PT Transportasi Gas Indonesia

(Transgasindo)
Transmisi gas/Gas transmission
Indonesia,
1 Februari 2002/February 1, 2002
2002
PGN Euro Finance 2003 Limited

(PGNEF)
Bidang keuangan/Financing company
Mauritius,
24 Juli 2003/July 24, 2003
PT PGAS Telekomunikasi Nusantara
(PGASKOM)
Telekomunikasi/Telecommunication
Indonesia,
10 Januari 2007/January 10, 2007
2009
99.93%
99.93%
99.93%
16
11
11
2010
99.91%
99.91%
99.91%
13
PT PGAS Solution (PGASSOL)

Konstruksi /Construction
Indonesia,
6 Agustus 2009/August 6, 2009
10
Annual Report 2012
314

DAN ENTITAS ANAK
KONSOLIDASIAN
1.

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
UMUM (lanjutan)
d.
Entitas Anak
(lanjutan)
dan
Entitas
Entitas Anak,
Kegiatan Usaha, Kedudukan,
dan Tanggal Pendirian/
Subsidiaries,
Business Activities, Domiciles
and Date of Establishment
Asosiasi
d.
Tahun Usaha
Komersial Dimulai/
Year
of Commercial
Operations Started
Subsidiaries and Associates (continued)

Total Aset dalam Juta Dolar AS
Sebelum Eliminasi/
Total Assets in Millions US Dollar
Before Elimination
2012
2011
2010
2012
2011
2010
- *)
100.00%
100.00%
2012
100.00%
100.00%
27
-*)
100.00%
100.00%
39
654
640
701
PT Saka Energi Indonesia (SEI)

Eksplorasi minyak dan gas bumi/
Exploration of oil and gas
Indonesia,
27 Juni 2011/June 27, 2011
PT Gagas Energi Indonesia (GEI)
Pengolahan minyak dan gas bumi/
Processing of oil and gas
Indonesia,
27 Juni 2011/June 27, 2011
PT PGN LNG Indonesia (PLI)
Pengolahan minyak dan gas bumi/
Processing of oil and gas
Indonesia,
26 Juni 2012/June 26, 2012
Total/Total
*) Belum beroperasi komersial/Not yet started commercial operation
**) Dalam proses likuidasi/In the liquidation process
Information about Associates owned by the

Group as of December 31, 2012 and 2011 and
January 1, 2011/December 31, 2010 are as
follows:
Informasi mengenai Entitas Asosiasi yang

dimiliki oleh Kelompok Usaha pada tanggaltanggal 31 Desember 2012 dan 2011 dan
1 Januari 2011/31 Desember 2010 adalah
sebagai berikut:
Entitas Asosiasi/
Associates
PT Nusantara Regas (PT Regas)
PT Gas Energi Jambi
Kedudukan dan
Tahun Usaha
Komersial Dimulai/
Domicile and Year
of Commercial
Operations Started
Kegiatan Usaha/
Business Activities
2012
2011
2010
Jakarta, 2012
Pengelolaan dan pengembangan

fasilitas FSRT termasuk pembelian
LNG dan pemasaran atas hasil
pengelolaan fasilitas FSRT/
The management and development
of FSRT facilities including purchase
of LNG and marketing of products
arising from the operations of FSRT
facilities
40.00%
40.00%
40.00%
Jambi, 2005
Transportasi dan distribusi gas bumi/

Transportation and distribution of
natural gas
40.00%
40.00%
40.00%
11
Annual Report 2012
315

DAN ENTITAS ANAK
KONSOLIDASIAN
1.

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
UMUM (lanjutan)
e.
Dewan Komisaris, Direksi dan Karyawan
e.
Boards of Commissioners, Directors and

Employees
Based on the Annual General Meeting of
Shareholders on May 22, 2012, the
shareholders approved the members of the
Companys Boards of Commissioners and
Directors as of December 31, 2012:
Berdasarkan Rapat Umum Pemegang Saham

Tahunan yang dilaksanakan pada tanggal
22 Mei 2012, para pemegang saham
menyutujui susunan Dewan Komisaris dan
Direksi
Perusahaan
pada
tanggal
31 Desember 2012 sebagai berikut:
Dewan Komisaris
Komisaris Utama
Komisaris
Komisaris
Komisaris
Komisaris Independen
Dewan Direksi
Direktur Utama
Direktur Keuangan
Direktur Pengusahaan
Direktur Teknologi dan Pengembangan
Direktur Perencanaan Investasi dan
Manajemen Risiko
Direktur Sumber Daya Manusia dan
Umum
Dewan Direksi
Direktur Utama
Direktur Keuangan
Direktur Teknologi dan Pengembangan
Direktur Perencanaan Investasi dan
Manajemen Risiko
Direktur Sumber Daya Manusia dan
Umum
Board of Directors
President Director
Director of Finance
Risk Management
General Affairs
Hendi Prio Santoso

Djoko Saputro
Hendi Kusnadi
Based on the Extraordinary General Meeting of

Shareholders (EGMS) on April 6, 2011, the
Directors as of December 31, 2011:

Luar Biasa (RUPSLB) yang dilaksanakan
pada tanggal 6 April 2011, para pemegang
saham menyetujui susunan Dewan Komisaris
dan Direksi Perusahaan pada tanggal
31 Desember 2011 sebagai berikut:
Dewan Komisaris
Komisaris Utama merangkap
Komisaris
Komisaris
Komisaris
Chairman of the Board of Commissioners
Commissioner
Commissioner
Commissioner
Bayu Krisnamurthi
M. Zamkhani
Bambang Dwijanto
Widya Purnama
Pudja Sunasa
Chairman of the Board Commissioners and
also as Independent Commissioner
Commissioner
Commissioner
Commissioner

Pudja Sunasa
Megananda Daryono
Widya Purnama
Hendi Prio Santoso
Michael Baskoro Palwo Nugroho *)
*) Berdasarkan RUPSLB tanggal 5 Maret 2012, pemegang saham

menyetujui pemberhentian sebagai Direksi.
Board of Directors
President Director
Director of Finance
Risk Management
General Affairs
*) Based on EGMS dated March 5, 2012, the shareholders agreed to

discharge as a Director
Based on the Annual General Meeting of the

Shareholders on June 17, 2010, the
Directors as of January 1, 2011/December 31,
2010:

Tahunan yang dilaksanakan pada tanggal
17 Juni 2010, para pemegang saham
menyetujui susunan Dewan Komisaris dan
Direksi
Perusahaan
pada
tanggal
1 Januari 2011/31 Desember 2010 sebagai
berikut:
12
Annual Report 2012
316

DAN ENTITAS ANAK
KONSOLIDASIAN
1.

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
UMUM (lanjutan)
e. Dewan Komisaris, Direksi dan Karyawan

(lanjutan)
Dewan Komisaris
Komisaris Utama merangkap Komisaris
Independen
Komisaris
Komisaris
Komisaris
Dewan Direksi
Direktur Utama
Direktur Keuangan dan Umum
Direktur Pengembangan
e.

Kardaya Warnika
Ilyas Saad
Nenny Miryani Saptadji
Pudja Sunasa
Mohamad Slamet Wibowo
Imbuh Sulistyarini
Shalahuddin Haikal
Board of Directors
President Director
Director of Finance and General Affairs
Director of Development
Chairman
Member
Member
Member
Member
As of December 31, 2011, the members of the

Companys audit committee are as follows:

Imbuh Sulistyarini
Shalahuddin Haikal
Chairman
Member
Member
Member
Member
As of January 1, 2011/December 31, 2010, the

members of the Companys audit committee
are as follows:
Pada tanggal 1 Januari 2011/31 Desember

2010, susunan komite audit Perusahaan
Ketua
Anggota
Anggota
Anggota
Anggota
as Independent Commissioner
Commissioner
Commissioner
Commissioner
As of December 31, 2012, the members of the

Companys audit committee are as follows:
Pada tanggal 31 Desember 2011, susunan

komite audit Perusahaan adalah sebagai
berikut:
Ketua
Anggota
Anggota
Anggota
Anggota
Chairman of the Board of Commissioner and also
Hendi Prio Santoso

Bambang Banyudoyo
Pada tanggal 31 Desember 2012, susunan

Komite Audit Perusahaan adalah sebagai
berikut:
Ketua
Anggota
Anggota
Anggota
Anggota
Boards of Commissioners, Directors and

Employees (continued)
Nenny Miryani Saptadji

Imbuh Sulistyarini
Shalahuddin Haikal
Chairman
Member
Member
Member
Member
As of December 31, 2012, December 31, 2011

and January 1, 2011/December 31, 2010, the
Company and Subsidiaries (collectively referred
to as the Group) have a total of 1,920, 1,805
and 1,837 permanent employees (unaudited),
respectively.
Pada
tanggal
31
Desember
2012,
31 Desember 2010, jumlah karyawan tetap
Perusahaan dan Entitas Anak (bersama-sama
disebut sebagai Kelompok Usaha) masingmasing adalah 1.920 orang, 1.805 orang dan
1.837 orang (tidak diaudit).
13
Annual Report 2012
317

DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR KEBIJAKAN
SIGNIFIKAN
a.
Dasar Penyajian
Konsolidasian
AKUNTANSI
Laporan

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG
2.
Keuangan
SUMMARY
POLICIES
a.
OF
SIGNIFICANT
ACCOUNTING
Basis of Preparation of the Consolidated

Financial Statements
Laporan keuangan konsolidasian telah

disusun sesuai dengan Standar Akuntansi
Keuangan di Indonesia (SAK), yang
mencakup Pernyataan dan Interpretasi yang
dikeluarkan oleh Dewan Standar Akuntansi
Keuangan
Ikatan
Akuntan
Indonesia
(DSAK) dan Peraturan-peraturan serta
Pedoman Penyajian dan Pengungkapan
Laporan Keuangan yang diterbitkan oleh
BAPEPAM-LK.
The consolidated financial statements have been

prepared in accordance with Indonesian
Financial Accounting Standards (SAK), which
comprise the Statements and Interpretations
issued by the Financial Accounting Standards
Board of the Indonesian Institute of Accountants
(DSAK) and the Regulations and the
Guidelines on Financial Statement Presentation
and Disclosures issued by BAPEPAM-LK.
Laporan keuangan konsolidasian disusun

berdasarkan
konsep
akrual
dengan
menggunakan konsep biaya historis, kecuali
untuk beberapa akun tertentu yang diukur
berdasarkan
pengukuran
sebagaimana
diuraikan dalam kebijakan akuntansi masingmasing akun tersebut.
The consolidated financial statements have

been prepared on the accrual basis using the
historical cost concept of accounting, except for
certain accounts which are measured on the
bases described in the related accounting
policies of each account.
Laporan arus kas konsolidasian yang disusun

dengan menggunakan metode langsung,
menyajikan penerimaan dan pengeluaran kas
yang diklasifikasikan dalam aktivitas operasi,
investasi dan pendanaan.
The consolidated statements of cash flows,

which have been prepared using the direct
method, present cash receipts and payments
classified into operating, investing and financing
activities.
Mata uang penyajian yang digunakan dalam

laporan keuangan konsolidasian adalah Dolar
Amerika Serikat yang merupakan mata uang
fungsional Perusahaan dan Kelompok Usaha
(Catatan 2r). Setiap entitas di dalam
Kelompok Usaha menetapkan mata uang
fungsional sendiri dan transaksi-transaksi di
dalam laporan keuangan dari setiap entitas
diukur berdasarkan mata uang fungsional
tersebut.
The presentation currency used in the

preparation of the consolidated financial
statements is the US Dollar which is the
functional currency of the Company and the
Group (Note 2r). Each entity in the Group
determines its own functional currency and items
included in the financial statements of each
entity are measured using that functional
currency.
Mata uang fungsional Transgasindo, GEI dan

PT Nusantara Regas adalah Dolar Amerika
Serikat, sedangkan untuk PGASKOM,
PGASSOL, SEI dan PLI adalah Rupiah.
The functional currency of Transgasindo, GEI

and PT Nusantara Regas is the US Dollar while
PGASKOM, PGASSOL, SEI and PLI is the
Rupiah.
14
Annual Report 2012
318

DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR KEBIJAKAN
SIGNIFIKAN (lanjutan)
AKUNTANSI
b. Perubahan Kebijakan
Pengungkapan
Akuntansi

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG
2. SUMMARY OF SIGNIFICANT
POLICIES (continued)
dan
b. Changes
in
Disclosures
Accounting
ACCOUNTING
Policy
and
The accounting policies adopted in the

preparation of the consolidated financial
statements are consistent with those made in
the preparation of the consolidated financial
statements
for
the
year
ended
December 31, 2011, except for the adoption of
several amended SAKs which were effective
starting on January 1, 2012 as disclosed in this
Note.
Kebijakan akuntansi yang diterapkan dalam

penyusunan laporan keuangan konsolidasian
konsisten dengan kebijakan akuntansi yang
diterapkan dalam penyusunan laporan
keuangan konsolidasian untuk tahun yang
berakhir pada tanggal 31 Desember 2011,
kecuali bagi penerapan beberapa SAK yang
telah direvisi dan berlaku efektif sejak tanggal
1 Januari 2012 seperti yang diungkapkan
pada Catatan ini.
c. Prinsip-prinsip Konsolidasian
c. Principles of Consolidation
Laporan keuangan konsolidasian meliputi

akun-akun
Kelompok
Usaha
seperti
disebutkan pada Catatan 1.d (secara langsung
maupun tidak langsung) dengan kepemilikan
saham lebih dari 50%.
The consolidated financial statements include

the accounts of the Group as described in Note
1.d, in which the Company maintains (directly or
indirectly) equity ownership of more than 50%.
Laporan keuangan konsolidasian disusun

dengan menggunakan kebijakan akuntansi
yang sama untuk transaksi dan peristiwa lain
dalam keadaan yang serupa. Jika anggota
Kelompok Usaha menggunakan kebijakan
akuntansi yang berbeda untuk transaksi dan
peristiwa dalam keadaan yang serupa, maka
penyesuaian
dilakukan
atas
laporan
keuangannya dalam penyusunan laporan
keuangan konsolidasian.
Consolidated financial statements shall be

prepared using uniform accounting policies for
like transactions and other events in similar
circumstances. If a member of the group uses
accounting policies other than those adopted in
the consolidated financial statements for like
transactions and events in similar circumstances,
appropriate adjustments are made to its financial
statements in preparing the consolidated
financial statements.
Seluruh saldo akun dan transaksi yang

signifikan antara Perusahaan dengan Entitas
Anak telah dieliminasi.
All significant intercompany accounts

transactions between the Company
Subsidiaries have been eliminated.
Entitas-entitas Anak dikonsolidasi secara

penuh sejak tanggal akuisisi, yaitu tanggal
Perusahaan
memperoleh
pengendalian,
sampai dengan tanggal entitas induk
kehilangan
pengendalian.
Pengendalian
dianggap ada ketika Perusahaan memiliki
secara langsung atau tidak langsung melalui
Entitas-entitas Anak, lebih dari setengah
kekuasaan suara entitas.
Subsidiaries are fully consolidated from the date

of acquisitions, being the date on which the
Company obtained control, and continue to be
consolidated until the date such control ceases.
Control is presumed to exist if the Company
owns, directly or indirectly through Subsidiaries,
more than a half of the voting power of an entity.
Pengendalian juga ada ketika entitas induk

memiliki setengah atau kurang kekuasaan
suara suatu entitas jika terdapat:
Control also exists when the parent owns half or

less of the voting power of an entity when there
is:
(a)
a) power over more than half of the voting

rights by virtue of an agreement with other
investors;
kekuasaan yang melebihi setengah hak

suara sesuai perjanjian dengan investor
lain;
15
Annual Report 2012
and
and
319

DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR KEBIJAKAN
c.
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG
Prinsip-prinsip Konsolidasian (lanjutan)
ACCOUNTING
c. Principles of Consolidation (continued)
(b)
kekuasaan yang mengatur kebijakan

keuangan dan operasional entitas
berdasarkan anggaran dasar atau
perjanjian;
b) power to govern the financial and operating

policies of the entity under a statute or an
agreement;
(c)
kekuasaan
untuk
menunjuk
atau
mengganti sebagian besar direksi atau
organ
pengatur
setara
dan
mengendalikan entitas melalui direksi
atau organ tersebut; atau
c) power to appoint or remove the majority of

the members of the board of directors or
equivalent governing body and control of the
entity by that board or body; or
(d)
kekuasaan untuk memberikan suara

mayoritas pada rapat dewan direksi atau
organ
pengatur
setara
dan
mengendalikan entitas melalui direksi
atau organ tersebut.
d) power to cast the majority of votes at

meetings of the board of directors or
equivalent governing body and control of the
entity by that board or body.
Rugi entitas anak yang tidak dimiliki secara

penuh diatribusikan pada KNP bahkan jika
hal ini mengakibatkan KNP mempunyai saldo
defisit.
Losses of a non-wholly owned subsidiary are

attributed to the NCI even if that NCI results in a
deficit balance.
Jika kehilangan pengendalian atas suatu

entitas anak, maka Kelompok Usaha:
menghentikan pengakuan aset (termasuk
setiap goodwill) dan liabilitas entitas anak;
menghentikan pengakuan jumlah tercatat
setiap KNP;
menghentikan
pengakuan
akumulasi
selisih penjabaran, yang dicatat di ekuitas,
bila ada;
mengakui nilai wajar pembayaran yang
diterima;
mengakui setiap sisa investasi pada nilai
wajarnya;
mengakui
setiap
perbedaan
yang
dihasilkan sebagai keuntungan atau
kerugian dalam laporan laba rugi; dan
mereklasifikasi
bagian
induk
atas
komponen yang sebelumnya diakui
sebagai pendapatan komprehensif ke
laporan laba rugi, atau mengalihkan
secara langsung ke saldo laba.
In case of loss of control over a subsidiary, the

Group:
derecognizes the assets (including goodwill)
and liabilities of the subsidiary;
derecognizes the carrying amount of any
NCI;
derecognizes the cummulative translation
differences, recorded in equity, if any;
16
recognizes the fair value of the consideration

received;
recognizes the fair value of any investment
retained;
recognizes any surplus or deficit in profit or
loss; and
reclassifies
the
parents
share
of
components previously recognized in other
comprehensive income to profit or loss or
retained earnings, as appropriate.
Annual Report 2012
320

DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR KEBIJAKAN
c.
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG
Prinsip-prinsip Konsolidasian (lanjutan)
ACCOUNTING
c. Principles of Consolidation (continued)
KNP mencerminkan bagian atas laba atau

rugi dan aset neto dari Entitas Anak yang
tidak dapat diatribusikan secara langsung
maupun tidak langsung kepada Perusahaan,
yang masing-masing disajikan dalam laporan
laba rugi komprehensif konsolidasian dan
dalam ekuitas pada laporan posisi keuangan
konsolidasian, terpisah dari bagian yang
dapat diatribusikan kepada pemilik entitas
induk.
NCI represents the portion of the profit or loss

and net assets of the Subsidiaries not
attributable, directly or indirectly, to the
Company, which are presented in the
consolidated statements of comprehensive
income and under the equity section of the
consolidated statements of financial position,
respectively, separately from the corresponding
portion attributable to the owners of the parent
entity.
Bagian kepemilikan pemegang saham

minoritas atas aset neto Entitas Anak
disajikan
sebagai
Kepentingan
Nonpengendali
pada
Laporan
Posisi
Keuangan Konsolidasian. Hak minoritas atas
laba (rugi) neto Entitas Anak pada Laporan
Laba Rugi Komprehensif Konsolidasian
disajikan sebagai Laba/Rugi Tahun Berjalan
yang
Dapat
Diatribusikan
kepada
Kepentingan Nonpengendali.
Minority interest in net assets of Subsidiaries

are presented as Non-controlling Interests in
the Consolidated Statements of Financial
Position. Minority interest in net earnings (loss)
of Subsidiaries are presented in the
Consolidated Statements of Comprehensive
Income as Profit/Loss for the Year Attributable
to Non-Controlling Interests.
Untuk tujuan konsolidasi, laporan keuangan

PGASKOM, PGASSOL, SEI dan PLI
dijabarkan ke dalam Dolar Amerika Serikat
dengan menggunakan:
For consolidation purposes, the financial

statements of PGASKOM, PGASSOL, SEI and
PLI are translated into US Dollar using the
following:
Akun/Accounts
Kurs/Exchange Rates
Aset dan liabilitas/

Assets and liabilities
Kurs rata-rata pembelian dan penjualan Bank Indonesia pada akhir tahun pelaporan/
Average buying and selling exchange rate of Bank Indonesia at end of reporting year
Pendapatan dan beban/

Revenues and expenses
Rata-rata tertimbang dari kurs tengah Bank Indonesia selama setahun

laporan laba rugi komprehensif/
Weighted-average middle rate of Bank Indonesia during the year of statements of
comprehensive income
dalam
The difference arising from the translation of

PGASKOM, PGASSOL, SEI and PLIs financial
statements into Rupiah is presented as Other
Comprehensive Income - Difference in Foreign
Currency
Translation
of
the
Financial
Statements of Subsidiaries account as part of
Other Components of Equity in the equity
section of the consolidated statements of
financial position.
Selisih yang timbul dari penjabaran laporan

keuangan PGASKOM, PGASSOL, SEI dan
PLI ke dalam Dolar Amerika Serikat disajikan
dalam akun Pendapatan komprehensif
lainnya - Selisih Kurs karena Penjabaran
Laporan Keuangan Entitas Anak sebagai
bagian dari Komponen Ekuitas Lainnya pada
ekuitas dalam laporan posisi keuangan
konsolidasian.
17
Annual Report 2012
321

DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR KEBIJAKAN
d.
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG
Aset dan Liabilitas Keuangan
ACCOUNTING
d. Financial Assets and Liabilities
Efektif tanggal 1 Januari 2012, Kelompok

Usaha menerapkan PSAK No. 50 (Revisi
2010), Instrumen Keuangan: Penyajian,
PSAK No. 55 (Revisi 2011), Instrumen
Keuangan: Pengakuan dan Pengukuran dan
PSAK No. 60, Instrumen Keuangan:
Pengungkapan.
Effective on January 1, 2012, the Group applied

PSAK No. 50 (Revised 2010), Financial
Instruments: Presentation, PSAK No. 55
(Revised
2011),
Financial
Instruments:
Recognition
and
Measurement
and
PSAK No. 60, Financial Instruments:
Disclosures.
PSAK No. 50 direvisi sehingga hanya

mengatur penyajian instrumen keuangan,
sedangkan prinsip pengungkapan instrumen
keuangan dipindahkan ke PSAK No. 60.
PSAK No. 50 was revised to only cover the

principles
for
presentation
of
financial
instruments, while the principles for disclosures
of financial instruments are transferred to PSAK
No. 60.
Revisi PSAK No. 55 tersebut tidak

memberikan pengaruh bagi laporan keuangan
konsolidasian pada saat penerapan awal,
sedangkan penerapan PSAK No. 50 dan
PSAK No. 60 yang direvisi tersebut
memberikan pengaruh bagi pengungkapan
dalam laporan keuangan konsolidasian.
The revised PSAK No. 55 has no impact on the

consolidated financial statements upon initial
adoption, while the adoptions of the revised
PSAK No. 50 and PSAK No. 60 have impact on
the disclosures made in the consolidated
(i) Aset Keuangan
(i) Financial Assets
Pengakuan awal
Initial recognition
Aset keuangan dalam ruang lingkup PSAK

No. 55 (Revisi 2011) diklasifikasikan
sebagai aset keuangan yang dinilai pada
nilai wajar melalui laba atau rugi, pinjaman
yang diberikan dan piutang, investasi yang
dimiliki hingga tanggal jatuh tempo dan
aset keuangan tersedia untuk dijual. Aset
keuangan pada awalnya diukur pada nilai
wajar, dan dalam hal aset keuangan yang
tidak diukur pada nilai wajar melalui
laporan laba rugi, ditambah dengan biaya
transaksi yang dapat diatribusikan secara
langsung.
Financial assets within the scope of the

PSAK No. 55 (Revised 2011) are classified
as financial assets at fair value through
profit or loss, loans and receivables, heldto-maturity investments and available-forsale financial assets. Financial assets are
recognized initially at fair value plus, in the
case of financial assets not at fair value
through profit or loss, directly attributable
transaction costs.
Pembelian atau penjualan aset keuangan

yang mensyaratkan penyerahan aset
dalam kurun waktu yang ditetapkan oleh
peraturan atau kebiasaan yang berlaku di
pasar (pembelian yang lazim/regular)
diakui pada tanggal perdagangan, yaitu
tanggal Kelompok Usaha berkomitmen
untuk membeli atau menjual aset tersebut.
Purchases or sales of financial assets that

require delivery of assets within a time
frame established by regulation or
convention in the market place (regular
way trades) are recognized on the trade
date, i.e., the date that the Group commits
to purchase or sell the assets.
18
Annual Report 2012
322

DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR KEBIJAKAN
d.
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG
Aset dan Liabilitas Keuangan (lanjutan)
ACCOUNTING
d. Financial Assets and Liabilities (continued)
(i) Aset Keuangan (lanjutan)
(i) Financial Assets (continued)
Pengakuan awal (lanjutan)
Initial recognition (continued)
Kelompok Usaha mengklasifikasikan aset

keuangannya menjadi pinjaman yang
diberikan dan piutang dan aset keuangan
tersedia untuk dijual. Klasifikasi ini
tergantung dari tujuan perolehan aset
keuangan
tersebut.
Manajemen
menentukan klasifikasi aset keuangan
tersebut pada saat awal pengakuannya
dan jika diperbolehkan dan sesuai, akan
dievaluasi kembali setiap akhir tahun
keuangan.
The Group classifies its financial assets as

loans and receivables and available-for-sale
financial assets. The classification depends
on the purpose for which the financials
assets
were
acquired.
Management
determines the classification of its financial
assets at initial recognition and where
allowed and appropriate, re-evaluates this
designation at each financial year end.
Pengukuran setelah pengakuan awal
Subsequent measurement
Pengukuran aset keuangan

setelah
pengakuan
awal
tergantung
pada
klasifikasinya sebagai berikut:
The subsequent measurement of financial

assets depends on their classification as
follows:
Pinjaman yang diberikan dan piutang
Loans and receivables
Pinjaman yang diberikan dan piutang

adalah aset keuangan non derivatif
dengan pembayaran tetap atau telah
ditentukan dan tidak mempunyai
kuotasi di pasar aktif.
Loans and receivables are nonderivative financial assets with fixed or

determinable payments that are not
quoted in an active market.
Pada saat pengakuan awal, aset

keuangan ini diakui pada nilai wajarnya
ditambah
biaya
transaksi
dan
selanjutnya dinyatakan sebesar biaya
perolehan yang diamortisasi dengan
menggunakan metode suku bunga
efektif. Pendapatan dari aset keuangan
dalam kelompok ini disajikan sebagai
pendapatan keuangan dalam laporan
laba rugi komprehensif konsolidasian.
These financial assets are initially

recognized at fair value plus transaction
costs and subsequently carried at
amortized cost using the effective
interest rate method. Interest income on
this financial assets classification is
presented as finance income in the
consolidated
statements
of
comprehensive income.
Dalam hal terjadi penurunan nilai,

kerugian penurunan nilai dilaporkan
sebagai pengurang dari nilai tercatat
dari aset keuangan dalam kelompok
pinjaman yang diberikan dan piutang
dan diakui di dalam laporan laba rugi
komprehensif konsolidasian.
In the case of impairment, the

impairment loss is reported as a
deduction from the carrying value of the
financial assets classified as loan and
receivables and recognized in the
consolidated
statements
of
19
Annual Report 2012
323

DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR KEBIJAKAN
d.
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG

Pengukuran
(lanjutan)
setelah
pengakuan
ACCOUNTING
(i) Financial Assets (continued)

Subsequent measurement (continued)
awal
Aset keuangan yang tersedia untuk

dijual
Available-for-sale (AFS) financial assets
Aset keuangan tersedia untuk dijual

adalah aset keuangan non derivatif
yang ditetapkan sebagai tersedia untuk
dijual atau yang tidak diklasifikasikan ke
dalam tiga kategori sebelumnya.
Setelah
pengukuran
awal,
aset
keuangan tersedia untuk dijual diukur
pada nilai wajar dengan laba atau rugi
yang belum direalisasi diakui dalam
ekuitas sampai investasi tersebut
dihentikan pengakuannya. Pada saat
itu, laba atau rugi kumulatif yang
sebelumnya diakui dalam ekuitas harus
direklasifikasi ke dalam laba atau rugi
sebagai penyesuaian reklasifikasi.
AFS financial assets are non-derivative

financial assets that are designated as
available-for-sale or are not classified in
any of three preceding categories. After
initial measurement, AFS financial
assets are measured at fair value with
unrealized gains or losses recognized in
the equity until the investment is
derecognized. At that time, the
cumulative gain or loss previously
recognized in the equity shall be
reclassified to profit or loss as a
reclassification adjustment.
Investasi yang diklasifikasi sebagai aset

keuangan tersedia untuk dijual adalah
sebagai berikut:
The investments classified as AFS are

as follows:
- Investasi pada saham yang tidak

tersedia nilai wajarnya dengan
kepemilikan kurang dari 20% dan
investasi jangka panjang lainnya
dicatat pada biaya perolehannya.
- Investments in shares of stock that do

not have readily determinable fair
value in which the equity interest is
less than 20% and other long-term
investments are carried at cost.
- Investasi pada instrumen utang yang

tidak ditujukan untuk dimiliki sampai
jatuh tempo diklasifikasikan sebagai
aset keuangan tersedia untuk dijual,
dan dicatat pada nilai wajar.
- Investments in debt instruments which

are not intended to be held to maturity
that have readily determinable are
classified as AFS and recorded at fair
value.
20
Annual Report 2012
324

DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR KEBIJAKAN
d.
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG
2. SUMMARY OF SIGNIFICANT ACCOUNTING


Pengukuran
(lanjutan)
setelah
pengakuan
(i)
Financial Assets (continued)

Subsequent measurement (continued)
awal
Aset keuangan yang tersedia untuk

dijual (lanjutan)
Available-for-sale (AFS) financial assets

(continued)
Aset keuangan diturunkan nilainya dan

kerugian penurunan nilai telah terjadi,
jika dan hanya jika, terdapat bukti yang
obyektif mengenai penurunan nilai
tersebut sebagai akibat dari satu atau
lebih peristiwa yang terjadi setelah
pengakuan
awal
aset
tersebut
(peristiwa
yang
merugikan)
dan
peristiwa yang merugikan tersebut
berdampak pada estimasi arus kas
masa depan atas aset keuangan yang
dapat diestimasi secara handal.
A financial asset is impaired and

impairment losses are incurred only if
there
is
objective
evidence
of
impairment as a result of one or more
events that occurred after the initial
recognition of the asset (a loss event)
and that loss event (or events) has an
impact on the estimated future cash
flows of the financial asset that can be
reliably estimated.
Untuk menentukan adanya bukti

obyektif bahwa rugi penurunan nilai
telah terjadi atas aset keuangan,
Kelompok Usaha mempertimbangkan
faktor-faktor
seperti
kemungkinan
adanya insolvabilitas atau kesulitan
keuangan signifikan yang dialami
debitur dan kelalaian atau penundaan
signifikan pembayaran.
To determine whether there is objective

evidence that an impairment loss on
financial assets have been incurred, the
Group considers factors such as the
probability of insolvency or significant
financial difficulties of the debtor and
default or significant delay in payments.
Kelompok
Usaha
pertama
kali
menentukan apakah terdapat bukti
obyektif
penurunan
nilai
secara
individual atas aset keuangan yang
secara individual signifikan atau secara
kolektif untuk aset keuangan yang
jumlahnya tidak signifikan secara
individual.
The Group first assesses whether

objective evidence of impairment exists
individually for financial assets that are
individually significant and individually or
collectively for financial assets that are
not individually significant.
(ii) Penurunan Nilai dari Aset Keuangan
(ii) Impairment of Financial Assets

The Group assesses at each statement of
financial position date whether there is any
objective evidence that a financial asset is
impaired.
Kelompok Usaha melakukan penilaian

pada setiap tanggal laporan posisi
keuangan apakah terdapat bukti obyektif
bahwa
aset
keuangan
mengalami
penurunan nilai.
21
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325

DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR KEBIJAKAN
d.
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG


(lanjutan)
(ii) Impairment
(continued)
of
Financial
Assets
Jika Kelompok Usaha menentukan tidak

terdapat
bukti
obyektif
mengenai
penurunan nilai atas aset keuangan yang
dinilai secara individual, terlepas aset
keuangan tersebut signifikan atau tidak,
maka Perusahaan memasukkan aset
tersebut ke dalam kelompok aset keuangan
yang memiliki karakteristik risiko kredit
yang serupa dan menilai penurunan nilai
kelompok tersebut secara kolektif. Aset
yang penurunan nilainya dinilai secara
individual dan untuk itu kerugian penurunan
nilai diakui atau terus diakui, tidak termasuk
dalam penilaian penurunan nilai secara
kolektif.
If the Group determines that no objective

evidence of impairment exists for an
individually assessed financial assets,
whether significant or not, it includes the
asset in a group of financial assets with
similar credit risk characteristics and
collectively assesses them for impairment.
Assets that are individually assessed for
impairment and for which an impairment
loss is or continues to be recognized are
not included in a collective assessment of
impairment.
Jumlah kerugian penurunan nilai diukur

berdasarkan selisih antara nilai tercatat
aset keuangan dengan nilai kini dari
estimasi arus kas masa datang (tidak
termasuk kerugian kredit di masa depan
yang belum terjadi) yang didiskontokan
menggunakan tingkat suku bunga efektif
awal dari aset keuangan tersebut.
The amount of the loss is measured as the

difference between the assets carrying
amount and the present value of estimated
future cash flows (excluding future credit
losses that have not been incurred)
discounted at the financial assets original
effective interest rate.
Nilai tercatat aset tersebut dikurangi

melalui akun cadangan penurunan nilai dan
jumlah kerugian diakui pada laporan laba
rugi komprehensif konsolidasian. Jika
pinjaman yang diberikan memiliki suku
bunga variabel, maka tingkat diskonto yang
digunakan adalah suku bunga efektif yang
berlaku yang ditetapkan dalam kontrak.
The carrying amount of the asset is reduced

through the use of an allowance for
impairment and the amount of the loss is
recognized in the consolidated statements
of comprehensive income. If a receivable
has a variable interest rate, the discount
rate used is the current effective interest
rate determined under the contract.
Perhitungan nilai kini dari estimasi arus kas

masa datang atas aset keuangan dengan
agunan (collateralized financial asset)
mencerminkan arus kas yang dapat
dihasilkan dari utilisasi dari jaminan deposit
yang diberikan oleh pelanggan kepada
Kelompok Usaha.
The calculation of the present value of the

estimated future cash flows of a
collateralized financial asset reflects the
cash flows that may result from the
utilization of deposit placed by customer to
the Group.
22
Annual Report 2012
326

DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR KEBIJAKAN
d.
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG


(lanjutan)
(ii) Impairment
(continued)
of
Financial
Assets
Estimasi tahun antara terjadinya peristiwa

dan teridentifikasinya kerugian ditentukan
oleh manajemen untuk setiap portofolio
yang diidentifikasi. Untuk tujuan evaluasi
penurunan nilai secara kolektif, aset
keuangan dikelompokkan berdasarkan
kesamaan karakteristik risiko kredit yaitu
berdasarkan jenis pelanggan.
The estimated year between a loss

occurring and its identification is determined
by the management for each identified
portfolio. For the purposes of a collective
evaluation of impairment, financial assets
are grouped on the basis of similar credit
risk characteristics by customer type.
Arus kas masa datang dari aset keuangan

Kelompok Usaha yang penurunan nilainya
dievaluasi secara kolektif, diestimasi
berdasarkan arus kas kontraktual atas
aset-aset di dalam kelompok tersebut dan
kerugian historis yang pernah dialami atas
aset-aset yang memiliki karakteristik risiko
kredit yang serupa dengan karakteristik
risiko kredit kelompok tersebut. Kerugian
historis yang pernah dialami kemudian
disesuaikan berdasarkan data terkini yang
dapat diobservasi untuk mencerminkan
kondisi saat ini yang tidak berpengaruh
pada tahun terjadinya kerugian historis
tersebut,
dan
untuk
menghilangkan
pengaruh kondisi yang ada pada tahun
historis namun sudah tidak ada lagi saat
ini.
Ketika piutang tidak tertagih, piutang
tersebut
dihapusbukukan
dengan
menjurnal
balik
cadangan
kerugian
penurunan nilai. Piutang tersebut dapat
dihapus buku setelah semua prosedur
yang diperlukan telah dilakukan dan jumlah
kerugian
telah
ditentukan.
Beban
penurunan nilai yang terkait dengan
piutang
diklasifikasikan
ke
dalam
Cadangan Kerugian Penurunan Nilai.
Future cash flows in the Group of financial

assets that are collectively evaluated for
impairment, and are estimated on the basis
of the contractual cash flows of the assets
in the group and historical loss experience
for assets with credit risk characteristics
similar to those in the group. Historical loss
experience is adjusted on the basis of
current observable data to reflect the
current conditions which did not affect the
year on which the historical loss experience
is based and to remove the effects of
conditions in the historical year that do not
currently exist.
Jika, pada tahun berikutnya, jumlah

kerugian penurunan nilai berkurang dan
pengurangan tersebut dapat dikaitkan
secara obyektif pada peristiwa yang terjadi
setelah penurunan nilai diakui maka
kerugian penurunan nilai yang sebelumnya
diakui dipulihkan, dengan menyesuaikan
cadangan kerugian penurunan nilai.
Jumlah pemulihan aset keuangan diakui
pada laporan laba rugi komprehensif
konsolidasian.
If, in a subsequent year, the amount of the

impairment loss decreases and the
decrease can be related objectively to an
event occurring after the impairment was
recognized the previously recognized
impairment loss is reversed by adjusting the
allowance for impairment losses. The
amount of the reversal is recognized in the
income.
When a receivable is uncollectible, it is

written off against the related allowance for
impairment losses. Such receivable are
written-off
after
all
the
necessary
procedures have been completed and the
amount of the loss has been determined.
Impairment charges relating to receivable,
is classified in Allowance for Impairment
Losses.
23
Annual Report 2012
327

DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR KEBIJAKAN
d.
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG


(lanjutan)
(ii)
Impairment
(continued)
of
Financial
Assets
Subsequent recoveries of previously

written-off receivables, if in the current
year, are credited to the allowance for
impairment losses, but if after the
consolidated statement of financial
position date, are credited to other
operating income.
Penerimaan kemudian atas piutang yang

telah dihapusbukukan sebelumnya, jika
pada tahun berjalan, dikreditkan pada
cadangan kerugian penurunan nilai,
sedangkan jika setelah tanggal laporan
posisi keuangan konsolidasian, dikreditkan
sebagai pendapatan operasional lainnya.
(iii) Liabilitas Keuangan
(iii)
Financial Liabilities
Pengakuan awal
Initial recognition
Liabilitas keuangan dalam ruang lingkup

PSAK No. 55 (Revisi 2011) diklasifikasikan
sebagai liabilitas keuangan yang diukur
pada nilai wajar melalui laba rugi, utang
dan pinjaman. Pada tanggal laporan posisi
keuangan konsolidasian, Kelompok Usaha
memiliki ke dua jenis liabilitas keuangan.
Kelompok Usaha menetapkan klasifikasi
atas liabilitas keuangan pada saat
pengakuan awal.
Financial liabilities within the scope of

PSAK No. 55 (Revised 2011) are
classified as financial liabilities at fair
value through profit or loss, loans and
borrowings. As at the
consolidated
statement of financial position date, the
Group has both type of financial liabilities.
The Group determines the classification of
its financial liabilities at intial recognition.
Liabilitas keuangan pada awalnya diukur

pada nilai wajar dan, dalam hal pinjaman
dan utang, ditambah biaya transaksi yang
dapat diatribusikan secara langsung.
Financial liabilities are recognized initially

at fair value and, in the case of loans and
borrowings,
inclusive
of
directly
attributable transaction costs.
Kelompok
Usaha
mengklasifikasikan
liabilitas keuangan dalam kategori (a)
liabilitas keuangan yang diukur pada nilai
wajar melalui laba rugi dan (b) liabilitas
keuangan yang diukur dengan biaya
perolehan diamortisasi. Liabilitas keuangan
dihentikan pengakuannya ketika kewajiban
yang telah ditetapkan dalam kontrak
dihentikan
atau
dibatalkan
atau
kadaluwarsa.
The Group classifies its financial liabilities

in the category of (a) financial liabilities at
fair value through profit or loss and (b)
financial liabilities measured at amortized
cost. Financial liabilities are derecognized
when the obligations under the contract is
discharged or cancelled or expired.
a. Liabilitas keuangan yang diukur pada

nilai wajar melalui laporan laba rugi
a. Financial liabilities
through profit or loss
Kategori ini terdiri dari

keuangan
diklasifikasikan
diperdagangkan.
at
fair
value
This category comprises of financial

liabilities classified as held for trading.
liabilitas
sebagai
24
Annual Report 2012
328


DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR
KEBIJAKAN
d.
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG
(iii) Liabilitas Keuangan (lanjutan)
(iii)
Financial Liabilities (continued)
Pengakuan awal (lanjutan)
Initial recognition (continued)
a. Liabilitas keuangan yang diukur pada

nilai wajar melalui laba rugi (lanjutan)
a. Financial liabilities at fair value

through profit or loss (continued)
Liabilitas keuangan diklasifikasikan

sebagai diperdagangkan jika diperoleh
terutama untuk tujuan dijual atau dibeli
kembali dalam waktu dekat. Derivatif
diklasifikasikan
sebagai
kewajiban
diperdagangkan kecuali ditetapkan dan
efektif sebagai instrumen lindung nilai.
A financial liability is classified as held

for trading if it is acquired or incurred
principally for the purpose of selling or
repurchasing it in the near term.
Derivatives are also categorized as
held for trading unless they are
designated and effective as hedging
instruments.
Keuntungan dan kerugian yang timbul

dari perubahan nilai wajar liabilitas
keuangan yang diklasifikasikan sebagai
diperdagangkan
disajikan
dalam
komprehensif
laporan laba rugi
konsolidasian sebagai akun Laba
(Rugi) Perubahan Nilai Wajar Derivatif Neto.
Gains and losses arising from

changes in fair value of financial
liabilities classified held for trading are
included
in
the
consolidated
statements of comprehensive income
and are presented as Gain (Loss) on
Change in Fair Value of Derivative Net account.
b. Financial liabilities at amortized cost
b. Liabilitas keuangan yang diukur dengan

biaya perolehan diamortisasi
(iv)
ACCOUNTING
Liabilitas
keuangan
yang
tidak
diklasifikasikan
sebagai
liabilitas
keuangan yang diukur pada nilai wajar
melalui laba rugi dikategorikan dan
diukur
dengan
biaya
perolehan
diamortisasi.
Financial liabilities that are not

classified as at fair value through profit
and loss fall into this category and are
measured at amortized cost.
Setelah pengakuan awal, Kelompok

Usaha mengukur seluruh liabilitas
keuangan yang diukur dengan biaya
perolehan
diamortisasi
dengan
menggunakan metode suku bunga
efektif.
After initial recognition, the Group

measures all financial liabilities at
amortized cost using effective interest
rate method.
Penentuan Nilai Wajar
(iv)
Determination of Fair Value
The fair value of financial instruments

traded in active markets is determined
based on quoted market prices at the
statement of financial position date. The
fair value includes IDMAs (Interdealer
Market Association) quoted market prices
or brokers quoted price from Bloomberg
and Reuters at statement of financial
position date.
Nilai wajar untuk instrumen keuangan yang

diperdagangkan di pasar aktif ditentukan
berdasarkan nilai pasar yang berlaku pada
tanggal
laporan
posisi
keuangan.
Termasuk di dalamnya adalah nilai pasar
dari IDMA (Interdealer Market Association)
atau harga yang diberikan oleh broker
(quoted price) dari Bloomberg dan Reuters
pada tanggal laporan posisi keuangan.
25
Annual Report 2012
329

DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR
KEBIJAKAN
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG
d. Aset dan Liabilitas Keuangan (lanjutan)

(iv)
ACCOUNTING
Penentuan Nilai Wajar (lanjutan)
(iv) Determination of Fair Value (continued)
Instrumen keuangan dianggap memiliki

kuotasi di pasar aktif, jika harga kuotasi
tersedia
sewaktu-waktu
dan
dapat
diperoleh secara rutin dari bursa, pedagang
efek (dealer), perantara efek (broker),
kelompok industri, badan pengawas
(pricing service or regulatory agency) dan
harga tersebut mencerminkan transaksi
pasar yang aktual dan rutin dalam suatu
transaksi yang wajar. Jika kriteria di atas
terpenuhi,
maka pasar
aktif
tidak
dinyatakan tidak tersedia. Indikasi-indikasi
dari pasar tidak aktif adalah terdapat selisih
yang besar antara harga penawaran dan
permintaan atau kenaikan signifikan dalam
selisih harga penawaran dan permintaan
dan hanya terdapat beberapa transaksi
terkini.
Nilai wajar untuk semua instrumen
keuangan lainnya yang tidak memiliki
kuotasi di pasar aktif ditentukan dengan
menggunakan teknik penilaian. Dengan
teknik ini, nilai wajar merupakan suatu
estimasi yang dihasilkan dari data yang
dapat diobservasi dari instrumen keuangan
yang sejenis, menggunakan model-model
untuk mendapatkan estimasi nilai kini dari
arus kas masa depan yang diharapkan
atau teknik penilaian lainnya menggunakan
input (sebagai contoh LIBOR yield curve,
nilai tukar mata uang asing, volatilitas,
counterparty spreads) yang tersedia pada
tanggal
laporan
posisi
keuangan
konsolidasian.
Kelompok Usaha menggunakan beberapa
teknik penilaian yang digunakan secara
umum untuk menentukan nilai wajar dari
instrumen keuangan, seperti opsi suku
bunga dan swap mata uang asing. Input
yang digunakan dalam teknik penilaian
untuk instrumen keuangan di atas adalah
data pasar yang dapat diobservasi.
A financial instrument is regarded as

quoted in an active market if quoted
prices are readily and regularly available
from an exchange, dealer, broker,
industry group, pricing service or
regulatory agency and those prices
represent actual and regularly occurring
market transactions on an arms length
basis. If the above criteria are not met, the
market is regarded as being inactive.
Indications that a market is inactive are
when there is a wide bid-offer spread or
significant increase in the bid-offer spread
or there are few recent transactions.
Untuk instrumen yang lebih kompleks,

Kelompok Usaha menggunakan model
penilaian internal, yang pada umumnya
berdasarkan teknik dan metode penilaian
yang umumnya diakui sebagai standar
industri.
For more complex instruments, the Group

uses internally developed models, which
are usually based on valuation methods
and techniques generally recognized as
standard within the industry.
For all other financial instruments which

not provided quoted in an active market,
fair value is determined using valuation
techniques. In these techniques, fair
values are estimated from observable
data in respect of similar financial
instruments, using models to estimate the
present value of expected future cash
flows or other valuation techniques, using
inputs (for example, LIBOR yield curve,
foreign currency rates, volatilities and
counterparty spreads) existing at the
dates of the consolidated statements of
financial position.
The Group uses widely recognized
valuation models for determining fair
values of financial instruments, such as
options of interest rate and foreign
currency swaps. For these financial
instruments, inputs into models are
generally market-observable.
26
Annual Report 2012
330

DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR
KEBIJAKAN
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG

(iv)
(v)
ACCOUNTING
Penentuan Nilai Wajar (lanjutan)
(iv)
Determination of Fair Value (continued)
Beberapa input dari model ini tidak berasal

dari data yang dapat diobservasi di pasar
dan demikian merupakan hasil estimasi
berdasarkan asumsi tertentu.
Some of the inputs to these models may

not be market observable and are
therefore
estimated
based
on
assumptions.
Structured
interest
rate
derivatives
ditentukan menggunakan option pricing
models (sebagai contoh, the Black-Scholes
model) atau prosedur lainnya seperti Monte
Carlo Simulation.
Structured interest rate derivatives are

measured using appropriate option pricing
models (for example, the Black-Scholes
model) or other procedures such as
Monte Carlo Simulation.
Penghentian Pengakuan
(v)
Derecognition
Financial assets are derecognized when
the contractual rights to receive the cash
flows from these assets have ceased to
exist or the assets have been transferred
and substantially all the risks and rewards
of ownership of the assets are also
transferred (that is, if substantially all the
risks and rewards have not been
transferred, the Group tests control to
ensure that continuing involvement on the
basis of any retained powers of control
does not prevent derecognition). Financial
liabilities are derecognized when the
obligations under the contract is
discharged or cancelled or expired.
Penghentian pengakuan aset keuangan

dilakukan ketika hak kontraktual untuk
menerima arus kas yang berasal dari aset
keuangan tersebut berakhir, atau ketika
aset keuangan tersebut telah dialihkan dan
secara substansial seluruh risiko dan
manfaat atas kepemilikan aset telah
ditransfer (jika, secara substansial seluruh
risiko dan manfaat tidak ditransfer, maka
Kelompok Usaha melakukan evaluasi
untuk
memastikan
keterlibatan
berkelanjutan atas kontrol yang masih
dimiliki tidak mencegah penghentian
pengakuan). Liabilitas keuangan dihentikan
pengakuannya ketika liabilitas yang telah
ditetapkan dalam kontrak dihentikan atau
dibatalkan atau kadaluwarsa.
(vi) Penyesuaian Risiko Kredit
(vi) Credit Risk Adjustments

The Company adjusts the price in the
more advantageous market to reflect any
differences in counterparty credit risk
between instruments traded in that market
and the ones being valued for financial
asset positions. In determining the fair
value of financial liability positions, the
Company's own credit risk associated
with the instrument is taken into account.
Perusahaan menyesuaikan harga di pasar

yang
lebih
menguntungkan
untuk
mencerminkan adanya perbedaan risiko
kredit pihak lawan antara instrumen yang
diperdagangkan di pasar tersebut dengan
instrumen yang dinilai untuk posisi aset
keuangan. Dalam menentukan nilai wajar
posisi liabilitas keuangan, risiko kredit
Perusahaan terkait dengan instrumen
harus diperhitungkan
27
Annual Report 2012
331

DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR
KEBIJAKAN
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG
ACCOUNTING
(vii) Reklasifikasi Instrumen Keuangan
(vii) Reclassification of Financial Instruments
Kelompok Usaha tidak mereklasifikasi

instrumen keuangan dari atau ke kategori
instrumen keuangan yang diukur pada nilai
wajar melalui laporan laba rugi selama
instrumen keuangan tersebut dimiliki atau
diterbitkan.
The Group does not reclassify any financial

instruments out of or into the fair value
through profit or loss category while it is
held or issued.
Kelompok Usaha tidak mengklasifikasikan

aset keuangan sebagai investasi dimiliki
hingga jatuh tempo, jika dalam tahun
berjalan atau dalam kurun waktu dua tahun
sebelumnya,
telah
menjual
atau
mereklasifikasi investasi dimiliki hingga
jatuh tempo melebihi jumlah yang tidak
signifikan sebelum jatuh tempo (lebih dari
jumlah yang tidak signifikan dibandingkan
dengan jumlah nilai investasi dimiliki hingga
jatuh tempo), kecuali penjualan atau
reklasifikasi tersebut:
The Group does not classify any financial

assets as held-to-maturity if the entity has,
during the current financial year or during
the two preceding financial years, sold or
reclassified more than an insignificant
amount of held-to-maturity investments
before maturity (more than insignificant in
relation to the total amount of held-tomaturity investments) other than sales or
reclassifications that:
- dilakukan ketika aset keuangan sudah

mendekati jatuh tempo atau tanggal
pembelian kembali di mana perubahan
suku
bunga
pasar
tidak
akan
berpengaruh secara signifikan terhadap
nilai wajar aset keuangan tersebut;
- are so close to maturity or the financial

asset's call date that changes in the
market rate of interest would not have a
significant effect on the financial asset's
fair value;
- terjadi setelah Kelompok Usaha telah

memperoleh secara substansial seluruh
jumlah pokok awal
aset keuangan
tersebut sesuai jadwal pembayaran atau
pelunasan dipercepat; atau
- occur after the Group has collected

substantially all of the financial asset's
original principal through scheduled
payments or prepayments; or
- terkait dengan kejadian tertentu yang

berada di luar kendali Kelompok Usaha,
tidak
berulang
dan
tidak
dapat
diantisipasi secara wajar oleh Kelompok
Usaha.
- are attributable to an isolated event that is

beyond the Group's control, is nonrecurring and could not have been
reasonably anticipated by the Group.
Reklasifikasi aset keuangan dari kelompok

dimiliki hingga jatuh tempo ke kelompok
tersedia untuk dijual dicatat sebesar nilai
wajarnya. Keuntungan atau kerugian yang
belum direalisasi tetap diakui dalam
komponen ekuitas sampai aset keuangan
tersebut dihentikan pengakuannya, dimana
pada saat itu keuntungan atau kerugian
kumulatif yang sebelumnya diakui dalam
ekuitas harus diakui pada laporan laba rugi
Reclassification of financial assets from

held to maturity classification to available
for sale are recorded at fair value.
Unrealized gains or losses are recognized
in the equity section until the financial
assets is derecognized, at which time the
cumulative gain or loss previously
recognized in equity is recognized in the
income.
28
Annual Report 2012
332


DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR
KEBIJAKAN
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG
2.
(viii) Classes of Financial Instruments

The Group classifies the financial
instruments into classes that reflects the
nature of information and take into account
the characteristic of those financial
instruments. The classification can be seen
in the table below.
Kelompok
Usaha
mengklasifikasikan
instrumen keuangan ke dalam klasifikasi
tertentu yang mencerminkan sifat dari
informasi
dan
mempertimbangkan
karakteristik dari instrumen keuangan
tersebut. Klasifikasi ini dapat dilihat pada
tabel di bawah ini.
Aset keuangan/
Financial assets
Kategori yang
didefinisikan oleh
PSAK No. 55 (Revisi 2006)/
Category as defined by
PSAK No. 55 (Revised 2006)
Pinjaman yang diberikan dan piutang/

Loans and receivables
Aset keuangan tersedia dijual/

Available-for-sale financial assets
Liabilitas keuangan/
Financial liabilities
Liabilitas keuangan yang diukur

dengan biaya perolehan diamortisasi/
Financial liabilities at amortized cost
ACCOUNTING
(viii) Klasifikasi atas Instrumen Keuangan
Instrumen Keuangan/
Financial
Instruments
SUMMARY OF SIGNIFICANT
Golongan/
Class
Subgolongan/
Subclass
Kas dan setara kas/Cash and cash equivalents

Kas yang dibatasi penggunaannya/Restricted cash
Piutang usaha/Trade receivables
Piutang dari PT Kustodian Sentral Efek Indonesia/
Receivable from PT Kustodian Sentral Efek Indonesia
Piutang dari Pemerintah Republik Indonesia/
Piutang lain-lain/
Receivables from the Government of the Republic of Indonesia
Other receivables
Piutang bunga/Interest receivables
Piutang lain-lain - lainnya/Other receivables - others
Investasi jangka pendek/ Short-term investments
Utang usaha/Trade payables
Jaminan gas/Gas guarantee deposits
Liabilitas kepada kontraktor/Liabilities to contractors
Pembelian barang dan jasa/Purchase of goods and services
Utang kepada PT Riau Andalan Pulp and Paper/
Payable to PT Riau Andalan Pulp and Paper
Utang lain-lain/
Jaminan masa konstruksi proyek/Project performance bonds
Other payables
Utang kepada ConocoPhillips (Grissik) Ltd./
Payables to ConocoPhillips (Grissik) Ltd.
Dana program tanggung jawab sosial dan lingkungan/
Corporate Social and Environmental Responsibility (CSR) funds
Utang lain-lain - lainnya/Other payables - others
Liabilitas kepada kontraktor dan pemasok/
Liabilities to contractors and suppliers
Pembelian aset tetap/Purchase of fixed assets
Asuransi/Insurance
Bunga yang masih harus dibayar/Accrued interest
Beban pemeliharaan/Maintenance expenses
Liabilitas yang
Jasa konsultan/Consultant fees
masih harus
Iuran ke BPH Migas/BPH Migas levy
dibayar/
Proyek stasiun Jabung gas booster/
Accrued liabilities
Jabung gas booster station project
Proyek perbaikan pipa bawah laut/Offshore pipeline repair project
Liabilitas yang masih harus dibayar lain-lain/
Other accrued liabilities
Liabilitas yang masih harus dibayar lain-lain/
Other accrued liabilities
Liabilitas imbalan kerja jangka pendek/Short-term employees benefits liability
Pinjaman jangka panjang jatuh tempo dalam waktu satu tahun/Current maturities of long-term
loans
Pinjaman jangka panjang - setelah dikurangi bagian jatuh tempo dalam waktu satu tahun/Longterm loans - net of current maturities
Liabilitas keuangan yang diukur pada

nilai wajar melalui laba rugi/Financial
liabilities at fair value through profit or
loss
29
Annual Report 2012
333

DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR KEBIJAKAN
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG
2.
(ix) Offsetting financial instrument

Financial assets and liabilities are offset
and the net amount presented in the
consolidated
statements
of
financial
position when there is a legally enforceable
right to offset the recognized amounts and
there is an intention to settle on a net basis
or realize the asset and settle the liability
simultaneously.
Aset keuangan dan liabilitas keuangan

saling hapus buku dan nilai netonya
disajikan dalam laporan posisi keuangan
konsolidasian jika memiliki hak yang
berkekuatan hukum untuk melakukan
saling hapus buku atas jumlah yang telah
diakui tersebut dan berniat untuk
menyelesaikan secara neto atau untuk
merealisasikan aset dan menyelesaikan
liabilitasnya secara simultan.
f.
Setara Kas dan

Penggunaannya
Kas
yang
ACCOUNTING
(ix) Saling Hapus Instrumen Keuangan
e.
Dibatasi
e. Cash Equivalents and Restricted Cash
Deposito berjangka dengan jangka waktu tiga

bulan atau kurang sejak tanggal penempatan
diklasifikasikan sebagai Setara Kas.
Time deposits with maturity periods of three

months or less at the time of placement are
considered as Cash Equivalents.
Rekening bank yang dibatasi penggunaannya

sehubungan dengan persyaratan perjanjian
pinjaman disajikan sebagai Kas yang Dibatasi
Penggunaannya (Catatan 5).
Cash in banks which are restricted for use as

stipulated under the terms of the loan agreement
is presented as Restricted Cash (Note 5).
Transaksi Dengan Pihak Berelasi
f. Transactions with Related Parties
Kelompok Usaha mempunyai transaksi dengan

pihak berelasi sebagaimana didefinisikan pada
PSAK No. 7 (Revisi 2010).
The Group has transactions with related parties

as defined in PSAK No. 7 (Revised 2010).
Saldo dan transaksi yang material antara

Kelompok Usaha dengan Pemerintah Negara
Republik Indonesia dan entitas berelasi
dengan Pemerintah diungkapkan dalam
catatan atas laporan keuangan konsolidasian
yang relevan. Kelompok Usaha memilih untuk
mengungkapkan transaksi dengan entitas
berelasi
dengan
Pemerintah
dengan
menggunakan pengecualian dari persyaratan
pengungkapan pihak berelasi.
Significant transactions and balances of the

Group with the Government of the Republic of
Indonesia and Government-related entities are
disclosed in the relevant notes to the
consolidated financial statements. The Group
elected to disclose the transactions with
Government-related entities, using the exemption
from
general
related
party
disclosure
requirements.
Transaksi dengan pihak berelasi dilakukan

berdasarkan persyaratan yang disetujui oleh
kedua belah pihak, yang mungkin tidak sama
dengan transaksi lain yang dilakukan dengan
pihak-pihak yang tidak berelasi.
Transactions with related parties are made based

on terms agreed by the parties, which may not be
the same as those of the transaction between
unrelated parties.
30
Annual Report 2012
334

DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR KEBIJAKAN
g.
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG
2.
Persediaan
SUMMARY OF SIGNIFICANT ACCOUNTING

g.
Inventories are stated at the lower of cost or

net realizable value. Cost is determined using
the moving average method. Allowance for
inventories obsolescence is provided based on
the periodic review of the condition of the
inventories.
Persediaan dinyatakan sebesar nilai yang

lebih rendah antara biaya perolehan dan nilai
realisasi neto. Biaya perolehan ditentukan
dengan metode rata-rata bergerak (movingaverage method). Penyisihan persediaan
usang dilakukan atas dasar hasil penelaahan
secara periodik terhadap kondisi persediaan.
h.
Inventories
Penyertaan Saham
h.
Investment in Shares of Stock
Penyertaan saham pada entitas dimana

Kelompok Usaha tidak memiliki pengaruh yang
signifikan dicatat sesuai dengan PSAK No. 55
(Revisi 2011).
Investments in shares of stock of entities

wherein the Group does not have significant
influence are accounted for in accordance with
PSAK No. 55 (Revised 2011).
Investasi Kelompok Usaha pada entitas

asosiasi diukur dengan menggunakan metode
ekuitas. Entitas asosiasi adalah suatu entitas
di mana Kelompok Usaha mempunyai
pengaruh signifikan. Sesuai dengan metode
ekuitas, investasi pada entitas asosiasi diakui
sebesar biaya perolehan pada laporan posisi
keuangan konsolidasian dan yang selanjutnya
disesuaikan
dengan
perubahan
pasca
perolehan dalam bagian Kelompok Usaha atas
aset neto dari entitas asosiasi tersebut.
The Groups investment in its associated is

accounted for using the equity method. An
associated is an entity in which the Group has
significant influence. Under the equity method,
the investment in the associate is carried in the
consolidated statements of financial position at
cost and adjusted thereafter for the post
acquisition changes in the Groups share of
net assets of the associate.
Laporan laba rugi komprehensif konsolidasian

mencerminkan bagian atas hasil operasi dari
entitas asosiasi. Bila terdapat perubahan yang
diakui langsung pada ekuitas dari entitas
asosiasi,
Kelompok
Usaha
mengakui
bagiannya atas perubahan tersebut dan
mengungkapkan hal ini, jika dapat dipakai,
dalam
laporan
perubahan
ekuitas
konsolidasian. Laba atau rugi yang belum
direalisasi sebagai hasil dari transaksitransaksi antara Kelompok Usaha dengan
entitas asosiasi dieliminasi pada jumlah sesuai
dengan kepentingan Kelompok Usaha dalam
entitas asosiasi.
The
consolidated
statements
of
comprehensive income reflect the share of the
results of operations of the associate. Where
there has been a change recognized directly in
the equity of the associate, the Group
recognizes its share of any such changes and
discloses this, when applicable, in the
consolidated statements of changes in equity.
Unrealized gains and losses resulting from
transactions between the Group and the
associate are eliminated to the extent of the
Groups interest in the associate.
31
Annual Report 2012
335

DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR KEBIJAKAN
h.
i.
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG
2.
Penyertaan Saham (lanjutan)

h.
Investment in Shares of Stock (continued)
Laporan keuangan entitas asosiasi disusun

atas tahun pelaporan yang sama dengan
Kelompok Usaha.
The financial statements of the associate are

prepared for the same reporting year of the
Group.
Kelompok
Usaha
menentukan
apakah
diperlukan untuk mengakui tambahan rugi
penurunan nilai atas investasi Kelompok
Usaha dalam entitas asosiasi. Kelompok
Usaha menentukan pada setiap tanggal
pelaporan apakah terdapat bukti yang obyektif
yang mengindikasikan bahwa investasi dalam
entitas asosiasi mengalami penurunan nilai.
Dalam hal ini, Kelompok Usaha menghitung
jumlah penurunan nilai berdasarkan selisih
antara jumlah terpulihkan atas investasi dalam
entitas asosiasi dan nilai tercatatnya dan
mengakuinya dalam laporan laba rugi
The Group determines whether it is necessary

to recognize an additional impairment loss on
the Groups investment in its associate. The
Group determines at each reporting date
whether there is any objective evidence that
the investment in the associate is impaired. If
this is the case, the Group calculates the
amount of impairment as the difference
between the recoverable amount of the
investment in associate and its carrying value,
and recognizes the amount in the consolidated
statements of comprehensive income.
Aset Tetap
i.
Fixed Assets
Efektif tanggal 1 Januari 2012, Grup

menerapkan PSAK No. 16 (Revisi 2011), Aset
Tetap. Revisi PSAK No. 16 ini mengatur
akuntansi tanah dan mencabut PSAK No. 47,
Akuntansi Tanah. Penerapan SAK revisi ini
tidak berdampak signifikan terhadap laporan
Effective on January 1, 2012, the Group

adopted PSAK No. 16 (Revised 2011), Fixed
Assets. The revised PSAK No. 16 prescribes
accounting for land and therefore, revoked
PSAK No. 47, Accounting the Land. The
adoption of the revised SAK has no significant
impact
on
the
consolidated
financial
statements.
Aset tetap, kecuali tanah, dinyatakan sebesar

biaya
perolehan
dikurangi
akumulasi
penyusutan dan rugi penurunan nilai. Biaya
perolehan termasuk biaya penggantian bagian
aset tetap saat biaya tersebut terjadi, jika
memenuhi kriteria pengakuan. Selanjutnya,
pada saat inspeksi yang signifikan dilakukan,
biaya inspeksi itu diakui ke dalam jumlah nilai
tercatat (carrying amount) aset tetap sebagai
suatu penggantian jika memenuhi kriteria
pengakuan. Semua biaya pemeliharaan dan
perbaikan yang tidak memenuhi kriteria
pengakuan diakui dalam laporan laba rugi
komprehensif
konsolidasian
pada
saat
terjadinya.
Fixed assets, except land, are stated at cost

less accumulated depreciation and impairment
losses. If the recognition criteria are met, the
acquisition cost will include the cost of
replacing part of the fixed assets when that
cost is incurred. Likewise, when a major
inspection is performed, its cost is recognized
in the carrying amount of the fixed assets as a
replacement if the recognition criteria are
satisfied. All other repairs and maintenance
costs that do not meet the recognition criteria
are recognized in the consolidated statements
of comprehensive income as incurred.
32
Annual Report 2012
336

DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR KEBIJAKAN
i.
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG
2.
Aset Tetap (lanjutan)
i.
Fixed Assets (continued)

Depreciation of fixed assets, except for land, is
computed using the straight-line method for
buildings and improvements, and the doubledeclining balance method for other fixed
assets over the estimated useful lives of the
assets, as follows:
Aset tetap, kecuali tanah, disusutkan dengan

menggunakan metode garis lurus untuk
bangunan dan prasarana dan metode saldo
menurun ganda untuk seluruh aset tetap
lainnya selama umur manfaat aset tetap yang
diestimasi sebagai berikut:
Tahun/Years
Bangunan dan prasarana
Mesin dan peralatan
Kendaraan bermotor
Peralatan kantor
Peralatan dan perabot
Aset belum terpasang

Tarif/Rates
20
16 - 20
4-8
4-8
4-8
16
5.00%
10.00% - 12.50%
25.00% - 50.00%
25.00% - 50.00%
25.00% - 50.00%
12.50%
Buildings and improvements

Machineries and equipment
Vehicles
Office equipment
Furnitures and fixtures
Uninstalled assets
Tanah dinyatakan sebesar harga perolehan

dan tidak diamortisasi karena manajemen
berpendapat bahwa besar kemungkinan hak
atas
tanah
tersebut
dapat
diperbaharui/diperpanjang pada saat jatuh
tempo.
Land are stated at cost and not amortized as

the management is of the opinion that it is
probable the titles of land rights can be
renewed/extended upon expiration.
Efektif 1 Januari 2012, Kelompok Usaha

menerapkan ISAK No. 25, Hak atas Tanah.
ISAK No. 25 menetapkan bahwa biaya
pengurusan legal hak atas tanah dalam bentuk
Hak
Guna
Bangunan
(HGB)
yang
dikeluarkan ketika tanah diperoleh pertama
kali diakui sebagai bagian dari biaya perolehan
tanah pada akun Aset Tetap dan tidak
diamortisasi. Biaya pengurusan perpanjangan
atau pembaruan legal hak atas tanah diakui
sebagai aset tak berwujud dan diamortisasi
sepanjang umur hukum hak atau umur
ekonomik tanah, mana yang lebih pendek.
Pada tanggal 1 Januari 2012, biaya legal hak
atas tanah yang tercatat merupakan biaya
perpanjangan hak atas tanah, sehingga
dengan
demikian,
Kelompok
Usaha
menyajikan biaya tersebut sebagai Aset Tak
Berwujud dalam laporan posisi keuangan
konsolidasian tanggal 31 Desember 2012
(Catatan 2.k)
Effective on January 1, 2012, the Company

adopted ISAK No. 25, Land Rights. ISAK
No. 25 prescribes that the legal cost of land
rights in the form of Building Usage Rights
(HGB) incurred when the land was acquired
initially are recognized as part of the cost of
the land under Fixed Assets account and not
amortized. The legal cost incurred to extend or
renew the land rights are recorded as
intangible assets and amortized over the
shorter of the rights legal life or lands
economic life. As of January 1, 2012, legal
cost recorded represents renewal or extention
of legal land rights, therefore, the Group
continues to present such costs as part of
Intangible Assets in the consolidated
statement of financial position as of
December 31, 2012 (Note 2.k).
33
Annual Report 2012
337

DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR KEBIJAKAN
i.
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG
2.

i.
Jumlah tercatat aset tetap dihentikan

pengakuannya pada saat dilepaskan atau saat
tidak ada manfaat ekonomis masa depan yang
diharapkan
dari
penggunaan
atau
pelepasannya. Laba atau rugi yang timbul dari
penghentian pengakuan aset (dihitung sebagai
perbedaan antara jumlah neto hasil pelepasan
dan jumlah tercatat dari aset) dimasukkan
dalam laporan laba rugi komprehensif
konsolidasian pada tahun
aset tersebut
dihentikan pengakuannya.
An item of fixed assets is derecognized upon

disposal or when no future economic benefits
are expected from its use or disposal. Any gain
or loss arising on derecognition of the asset
(calculated as the difference between the net
disposal proceeds and the carrying amount of
the asset) is included in the consolidated
statements of comprehensive income in the
year the asset is derecognized.
Pada setiap akhir tahun buku, nilai residu,

umur manfaat dan metode penyusutan
ditelaah, dan jika sesuai dengan keadaan,
disesuaikan secara prospektif.
The assets residual values, useful lives and

methods of depreciation are reviewed and
adjusted prospectively if appropriate, at each
financial year end.
Aset dinyatakan pada nilai dapat diperoleh

kembali
pada
saat
kejadian-kejadian
atau
perubahan-perubahan
keadaan
mengindikasikan bahwa nilai tercatatnya
mungkin tidak dapat diperoleh kembali.
Penurunan nilai aset, jika ada, diakui sebagai
rugi pada laporan laba rugi komprehensif
konsolidasian.
Assets are stated at estimated recoverable

amount whenever events or changes in
circumstances indicate that the carrying
amount may not be fully recoverable.
Impairment in asset values, if any, is
recognized as a loss in the consolidated
statements of comprehensive income.
Aset dalam penyelesaian disajikan dalam

Aset Tetap dan dinyatakan sebesar biaya
perolehan. Akumulasi biaya perolehan untuk
aset dalam penyelesaian akan dipindahkan ke
masing-masing aset tetap yang bersangkutan
pada saat aset tersebut selesai dikerjakan dan
siap digunakan sesuai dengan tujuannya
(Catatan 2.m).
Construction in progress is presented as part

of Fixed Assets and is stated at cost. The
accumulated cost of the asset constructed is
transferred to the appropriate fixed assets
account when the construction is completed
and the asset is ready for its intended use
(Note 2.m).
Aset kerjasama operasi adalah tanah

Perusahaan
yang
digunakan
untuk
menyelenggarakan
kegiatan
kerjasama
operasi. Bangunan kantor yang diperoleh
sebagai kompensasi dalam kerjasama operasi
dan pendapatan diterima di muka terkait diakui
pada saat aset tersebut selesai dibangun dan
siap digunakan sesuai dengan tujuannya.
Pendapatan diterima di muka diakui selama
tahun kerjasama operasi.
Joint venture assets are the Companys land

titles used to carry out the joint venture
activities. Office building obtained as
compensation in the joint operation and the
respective unearned income are recognized
when the construction is completed and the
asset is ready for its intended use. Unearned
income is recognized over the year of the joint
operation.
34
Annual Report 2012
338

DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR KEBIJAKAN
i.
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG
2.

i.
Joint venture assets are stated at the

estimated recoverable amount whenever
events or changes in circumstances indicate
that the carrying amount may not be fully
recoverable. Impairment in asset values, if
any, is recognized as a loss in the
income.
Aset kerjasama operasi dinyatakan pada nilai

dapat diperoleh kembali pada saat kejadiankejadian atau perubahan-perubahan keadaan
mengindikasikan bahwa nilai tercatatnya
mungkin tidak dapat diperoleh kembali.
Penurunan nilai aset, jika ada, diakui sebagai
rugi pada laporan laba rugi komprehensif
konsolidasian.
j.
Penurunan Nilai Aset Non-keuangan
j.
Impairment of Non-financial Assets
Pada setiap akhir tahun pelaporan, Kelompok

Usaha menilai apakah terdapat indikasi suatu
aset mengalami penurunan nilai. Jika terdapat
indikasi tersebut atau pada saat pengujian
secara tahunan penurunan nilai aset (yaitu
aset tidak berwujud dengan umur manfaat
tidak terbatas, aset tidak berwujud yang belum
dapat digunakan, atau goodwill yang diperoleh
dalam suatu kombinasi bisnis) diperlukan,
maka Kelompok Usaha membuat estimasi
jumlah terpulihkan aset tersebut.
The Group assesses at each annual reporting

year whether there is an indication that an
asset may be impaired. If any such indication
exists, or when annual impairment testing for
an asset (i.e. an intangible asset with an
indefinite useful life, an intangible asset not yet
available for use, or goodwill acquired in a
business combination) is required, the Group
makes an estimate of the assets recoverable
amount.
Kerugian penurunan nilai, jika ada, diakui

sebagai laba rugi sesuai dengan kategori
biaya yang konsisten dengan fungsi dari aset
yang diturunkan nilainya.
Impairment losses, if any, are recognized as

profit or loss under expense categories that
are consistent with the functions of the
impaired assets.
Kerugian penurunan nilai yang telah diakui

dalam tahun sebelumnya untuk aset selain
goodwill dibalik hanya jika terdapat perubahan
asumsi-asumsi
yang
digunakan
untuk
menentukan jumlah terpulihkan aset tersebut
sejak rugi penurunan nilai terakhir diakui.
Dalam hal ini, jumlah tercatat aset dinaikkan ke
jumlah terpulihkannya. Pembalikan tersebut
dibatasi sehingga jumlah tercatat aset tidak
melebihi jumlah terpulihkannya maupun jumlah
tercatat, neto setelah penyusutan, seandainya
tidak ada rugi penurunan nilai yang telah
diakui untuk aset tersebut pada tahun
sebelumnya. Pembalikan rugi penurunan nilai
diakui sebagai laba rugi.
A previously recognized impairment loss for an

asset other than goodwill is reversed only if
there has been a change in the assumptions
used to determine the assets recoverable
amount since the last impairment loss was
recognized. If that is the case, the carrying
amount of the asset is increased to its
recoverable amount. The reversal is limited so
that the carrying amount of the assets does
not exceed its recoverable amount, nor exceed
the carrying amount that would have been
determined, net of depreciation, had no
impairment loss been recognized for the asset
in prior years. Reversal of an impairment loss
is recognized as profit or loss.
35
Annual Report 2012
339

DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR KEBIJAKAN
k.
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG
2.
Aset tak Berwujud

k.
As explained in point i above, effective

January 1, 2012, the Group adopted ISAK
No. 25, Land Rights. The legal cost incurred
to extend or renewed the land rights are
recorded as intangible assets and amortized
over the shorter of the rights legal life or lands
economic life.
Sebagaimana dijelaskan pada butir i di atas,

efektif tanggal 1 Januari 2012, Kelompok
Usaha menerapkan ISAK No. 25, Hak atas
Tanah. Biaya pengurusan perpanjangan atau
pembaruan legal hak atas tanah diakui
sebagai aset tak berwujud dan diamortisasi
sepanjang umur hak hukum atau umur
ekonomik tanah, mana yang lebih pendek.
l.
Intangible Assets
Pinjaman yang Diperoleh Pemerintah dari

Pemberi Pinjaman (Penerusan Pinjaman)
l.
Loans Obtained by the Government from

Lenders (Two-step Loans)
The recognition of two-step loans is based on
the withdrawal authorization or other similar
documents issued by the lenders. The loans
are payable in their original currencies or
Rupiah equivalent if drawn in Rupiah.
Pengakuan penerusan pinjaman dilakukan

berdasarkan otorisasi penarikan atau dokumen
lainnya yang sejenis, yang diterbitkan oleh
pemberi pinjaman. Pinjaman terutang dalam
mata uang pinjaman yang diberikan atau nilai
setara Rupiah apabila dana ditarik dalam mata
uang Rupiah.
m. Kapitalisasi Biaya Pinjaman
m. Capitalization of Borrowing Costs
Efektif tanggal 1 Januari 2012, Grup

menerapkan PSAK No. 26 (Revisi 2011),
Biaya Pinjaman. Revisi SAK ini tidak
berdampak
bagi
laporan
keuangan
konsolidasian.

implemented PSAK No. 26 (Revised 2011),
Borrowing Costs. The revised SAK has no
impact
on
the
consolidated
financial
statements.
Biaya pinjaman yang dapat diatribusikan

langsung dengan perolehan, pembangunan
atau
pembuatan
aset
kualifikasian
dikapitalisasi sebagai bagian biaya perolehan
aset tersebut. Biaya pinjaman lainnya diakui
sebagai beban pada saat terjadi. Biaya
pinjaman terdiri dari biaya bunga dan biaya
lain yang ditanggung oleh Kelompok Usaha
sehubungan dengan peminjaman dana.
Borrowing costs that are directly attributable to

the acquisition, construction and production of
a qualifying asset are capitalized as part of the
cost of the related assets. Otherwise,
borrowing costs are recognized as expenses
when incurred. Borrowing costs consist of
interests and other financing charges that the
Group incurs in connection with the borrowing
of funds.
Kapitalisasi biaya pinjaman dimulai pada saat

aktivitas
yang
diperlukan
untuk
mempersiapkan aset agar dapat digunakan
sesuai dengan maksudnya, dan pengeluaran
untuk
aset
kualifikasian
dan
biaya
pinjamannya telah terjadi. Kapitalisasi biaya
pinjaman dihentikan pada saat selesainya
secara substansi seluruh aktivitas yang
diperlukan
untuk
mempersiapkan
aset
kualifikasian agar dapat digunakan sesuai
dengan maksudnya (Catatan 2.i).
Capitalization of borrowing costs commences

when the activities to prepare the qualifying
asset for its intended use are in progress and
the expenditures for the qualifying asset and
the borrowing costs have been incurred.
Capitalization of borrowing costs ceases when
substantially all the activities necessary to
prepare the qualifying assets are completed
for their intended use (Note 2.i).
36
Annual Report 2012
340

DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR KEBIJAKAN
n.
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG
2.
Biaya Penerbitan Emisi Efek Ekuitas

n.
Stock issuance costs are presented as

deduction from Other Paid-in Capital in the
equity section in the consolidated statements
of financial position.
Biaya emisi efek ekuitas disajikan sebagai

pengurang Modal Disetor Lainnya sebagai
bagian dari ekuitas pada laporan posisi
o.
p.
Stock Issuance Costs
Pengakuan Pendapatan dan Beban
o.
Revenue and Expense Recognition
Pendapatan dari distribusi gas bumi dan jasa

transmisi gas bumi diakui pada saat gas telah
didistribusikan atau dikirim kepada pelanggan
berdasarkan pencatatan pada alat meter gas.
Pendapatan jasa transmisi gas bumi diterima
di muka disajikan sebagai bagian dari Utang
Lain-lain pada laporan posisi keuangan
konsolidasian dan diakui sebagai pendapatan
pada saat gas telah dikirim kepada pelanggan.
Pendapatan dari jasa lainnya diakui pada saat
jasa diserahkan atau secara signifikan
diberikan dan manfaat jasa tersebut telah
dinikmati oleh pelanggan.
Revenues from gas distribution and toll fees

from gas transmission are recognized when
the gas is distributed or transmitted to the
customers based on the gas meter readings.
Toll fees from gas transmission received in
advance are presented as part of Other
Payables in the consolidated statements of
financial position and recognized as revenue
when the gas is transmitted to the customers.
Revenues from other services are recognized
when the services are rendered or significantly
provided and the benefits have been received
by the customers.
Pendapatan/Beban Keuangan
Finance Income/Cost
Untuk semua instrumen keuangan yang diukur

pada biaya perolehan diamortisasi dan aset
keuangan kategori tersedia dijual yang
memperoleh bunga, pendapatan atau biaya
bunga dicatat dengan menggunakan metode
Suku Bunga Efektif (SBE), yaitu suku bunga
yang secara tepat mendiskontokan estimasi
pembayaran atau penerimaan kas di masa
yang akan datang selama perkiraan umur dari
instrumen keuangan, atau jika lebih tepat,
selama tahun yang lebih singkat, untuk nilai
tercatat neto dari aset keuangan atau liabilitas
keuangan.
For all financial instruments measured at

amortized cost and interest bearing financial
assets classified as available-for-sale, interest
income or expense is recorded using the
Effective Interest Rate (EIR), which is the
rate that exactly discounts the estimated future
cash payments or receipts over the expected
life of the financial instrument or a shorter
year, where appropriate, to the net carrying
amount of the financial asset or liability.
Pengakuan Beban
Expense Recognition
Beban diakui pada saat terjadinya.
Expenses are recognized when incurred.
Provisi
p.
Provisions
Provisions are recognized when the Group has
a present obligation (legal and constructive) as
a result of a past event, it is probable that an
outflow of resources embodying economic
benefits will be required to settle the obligation
and a reliable estimate can be made of the
amount of the obligation.
Provisi diakui jika Kelompok Usaha memiliki

kewajiban kini (baik bersifat hukum maupun
bersifat konstruktif) yang akibat peristiwa masa
lalu, besar kemungkinannya penyelesaian
kewajiban tersebut mengakibatkan arus keluar
sumber daya yang mengandung manfaat
ekonomi dan estimasi yang andal mengenai
jumlah kewajiban tersebut dapat dibuat.
37
Annual Report 2012
341

DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR KEBIJAKAN
p.
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG
2.
Provisi (lanjutan)

p.
Provisions are reviewed at each reporting date

and adjusted to reflect the current best
estimate. If it is no longer probable that an
outflow of resources embodying economic
benefits will be required to settle the obligation,
the provision is reversed.
Provisi ditelaah pada setiap tanggal pelaporan

dan disesuaikan untuk mencerminkan estimasi
terbaik yang paling kini. Jika arus keluar
sumber daya untuk menyelesaikan kewajiban
kemungkinan besar tidak terjadi, maka provisi
dibatalkan.
q.
Provisions (continued)
Imbalan Kerja
q.
Employee Benefits
Efektif 1 Januari 2012, Kelompok Usaha

Imbalan Kerja. Revisi SAK ini antara lain
memperbolehkan entitas untuk menerapkan
metode sistematis atas pengakuan yang lebih
cepat dari keuntungan/kerugian aktuaria yang
timbul dari imbalan pasti, antara lain
pengakuan langsung keuntungan/kerugian
yang terjadi pada tahun berjalan ke dalam
pendapatan komprehensif lain. Kelompok
Usaha memilih metode ini dalam pengakuan
keuntungan/kerugian
aktuaria,
karenanya
penerapan awal PSAK No. 24 (Revisi 2010) ini
berdampak signifikan terhadap laporan
keuangan Kelompok Usaha.

adopted PSAK No. 24 (Revised 2010),
Employee Benefits. The revised SAK permit
an entity to adopt any systematic method that
results in faster recognition of actuarial gains
and losses, which among others is immediate
recognition of actuarial gains and losses in the
year in which they occur recognized in other
comprehensive income. The Group decided to
apply this method in recognizing the actuarial
gains and losses and therefore, the initial
adoption of PSAK No. 24 (Revised 2010) has
significant impact on the Groups consolidated
Pada saat penerapan awal, sesuai dengan

ketentuan transisi PSAK No. 24 (Revisi 2010),
saldo keuntungan/kerugian aktuaria yang
belum diakui pada tanggal 1 Januari 2012
sebesar
US$47.197.934
diakui
dalam
pendapatan komprehensif lain dalam laporan
posisi
keuangan
konsolidasian
tanggal
1 Januari 2012.
On initial adoption, in accordance with

transitional provision of PSAK No. 24
(Revised 2010), the balance of unrecognized
actuarial
gains/losses
amounting
to
US$47,197,934 was recognized in other
components of equity in the consolidated
statement of financial position as of January 1,
2012.
Untuk program iuran pasti, kontribusi yang

terutang diakui sebagai beban pada tahun
berjalan.
For defined contribution pension plan,

contribution payables are charged to current
year operations.
Sejak tanggal 1 Januari 2012
Since January 1, 2012
Berdasarkan PSAK No. 24 (Revisi 2010),

beban imbalan pasca kerja manfaat pasti
ditentukan dengan metode penilaian aktuaris
Projected Unit Credit dan keuntungan dan
kerugian aktuaria diakui pada tahun dimana
keuntungan dan kerugian terjadi dalam
pendapatan komprehensif lain.
Under PSAK No. 24 (Revised 2010), the cost

of providing defined benefit post-retirement
employee benefits is determined using the
Projected Unit Credit actuarial valuation
method and the actuarial gains and losses is
recognized in the year in which they occur in
other comprehensive income.
Biaya jasa lalu atas pengenalan program

manfaat pasti atau perubahan utang imbalan
dari program yang ada diamortisasi sepanjang
tahun sampai imbalan tersebut menjadi hak
atau vested.
Past service costs arising from the introduction

of a defined benefit plan or changes in the
benefits payable of an existing plan are
required to be amortized over the year until the
benefits concerned become rights or vested.
38
Annual Report 2012
342


DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR KEBIJAKAN
q.
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG
2.
Imbalan Kerja (lanjutan)
q.
ACCOUNTING
Employee Benefits (continued)
Sejak tanggal 1 Januari 2012 (lanjutan)
Since January 1, 2012 (continued)
Beban imbalan jangka panjang lainnya

ditentukan dengan metode penilaian aktuaris
Projected Unit Credit di mana keuntungan dan
kerugian aktuaria dan biaya jasa lalu langsung
diakui dalam tahun berjalan.
The cost of providing other long-term

employee benefits is determined using the
Projected Unit Credit actuarial valuation
method wherein actuarial gains and losses
and past service costs are recognized
immediately in the current year.
Sebelum tanggal 1 Januari 2012
Prior to January 1, 2012.
Keuntungan dan kerugian aktuarial diakui

sebagai penghasilan atau beban apabila
akumulasi keuntungan dan kerugian aktuarial
neto yang belum diakui pada akhir tahun
pelaporan sebelumnya melebihi jumlah yang
lebih besar di antara 10% dari nilai kini
kewajiban imbalan pasti pada tanggal tersebut
dan 10% dari nilai wajar aset program pada
tanggal tersebut. Keuntungan atau kerugian ini
diakui dengan metode garis lurus sepanjang
rata-rata sisa masa kerja dari karyawan.
The actuarial gains and losses are recognized

as income or expense when the net
cumulative unrecognized actuarial gains and
losses for each individual plan at the end of
the previous reporting year exceed the greater
of 10% of the present value of the defined
benefit obligation at that date and 10% of the
fair value of any plan assets at that date.
These gains or losses are recognized on a
straight-line method over the expected
average remaining service years of the
employees.
Perusahaan
The Company
Perusahaan mempunyai program asuransi

pensiun untuk seluruh karyawan tetap yang
memenuhi syarat, dengan PT Asuransi
Jiwasraya (Persero) (AJ). Pembayaran premi
awal sekaligus dan premi periodik ditentukan
berdasarkan perhitungan secara periodik yang
disetujui oleh Perusahaan dan AJ. Iuran dari
karyawan adalah sebesar 2% dari gaji
pokoknya ditambah sejumlah tunjangan
tertentu. Selisih antara premi pertanggungan
dengan kontribusi karyawan ditanggung oleh
Perusahaan.
The Company has a retirement insurance plan

covering all of its qualified permanent
employees, with PT Asuransi Jiwasraya
(Persero) (AJ). One-time initial retirement
premium and periodic premium payments are
based on periodic calculations agreed
between the Company and AJ. The employees
contribute 2% of their basic salaries plus
certain allowances. The remaining balance of
the premium is borne by the Company.
Perusahaan juga menyediakan tambahan

tunjangan kesehatan bagi para pensiunan
karyawan berdasarkan perhitungan tertentu
yang disetujui oleh Perusahaan dan Yayasan
Kesejahteraan Pegawai dan Pensiunan Gas
Negara sebagai pengelola dana.
The Company provides additional postretirement health care benefits to its retired
employees based on certain computations
agreed between the Company and Yayasan
Kesejahteraan Pegawai dan Pensiunan Gas
Negara as the fund manager.
Sejak
Februari
2009,
Perusahaan
menyelenggarakan program iuran pasti untuk
semua karyawan tetap yang memenuhi syarat.
Since February 2009, the Company has a

defined contribution plan for all of its eligible
permanent employees.
39
Annual Report 2012
343

DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR KEBIJAKAN
q.
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG
2.
Imbalan Kerja (lanjutan)
q.
ACCOUNTING
Employee Benefits (continued)
Perusahaan (lanjutan)
The Company (continued)
Perusahaan memberikan imbalan pasca kerja

sesuai dengan Perjanjian Kerja Bersama yang
dibandingkan dengan imbalan berdasarkan
dan
Undang-Undang
Ketenagakerjaan
No. 13/2003 (UU No. 13/2003), mana yang
lebih tinggi. Perusahaan juga memberikan
imbalan jangka panjang lainnya.
The Company provides post-employment

benefits
in
accordance
with
the
Collective Labor Agreement which was
compared with benefits under Labor Law
No. 13/2003 (Law No. 13/2003), whichever is
higher. The Company also provides other
long-term employees benefits.
Entitas Anak
Subsidiaries
Transgasindo
Transgasindo
Transgasindo memberikan imbalan pasca

kerja sesuai dengan Perjanjian Kerja
Bersama
yang
dibandingkan
dengan
imbalan
berdasarkan
Undang-Undang
Ketenagakerjaan No. 13 Tahun 2003 (UU
No.13/2003), mana yang lebih tinggi.
Transgasindo
provides
post-retirement
benefits under Collective Labor Agreement
Regulation which was compared with benefits
under Labor Law No. 13 Year 2003
(Law No.13/2003), whichever is higher.
Mulai
tahun
2009,
Transgasindo
menyelenggarakan program pensiun iuran
pasti untuk semua karyawan tetap yang
memenuhi syarat, yang didanai melalui iuran
tetap bulanan kepada Dana Pensiun Lembaga
Keuangan Bank Rakyat Indonesia dan Bank
Negara Indonesia, yang didirikan berdasarkan
persetujuan dari Menteri Keuangan Republik
Indonesia
masing-masing
dalam
Surat
Keputusannya No. KEP.197/KM.6/2004 dan
No. KEP.1100/KM.17/1998.
Starting 2009, Transgasindo has defined

contribution pension plan for all of its eligible
permanent employees, which is funded
through monthly fixed contributions to Dana
Pensiun Lembaga Keuangan (DPLK) Bank
Rakyat Indonesia and Bank Negara Indonesia,
the establishment of which were approved
by the Ministry of Finance of the Republic of
Indonesia
in
its
Decision
Letter
No.
KEP.197/KM.6/2004
and
No. KEP.1100/ KM.17/1998, respectively.
Sumber dana program pensiun berasal dari

kontribusi
karyawan
dan
Transgasindo
masing-masing sebesar 2% dan 6% dari gaji
bulanan karyawan.
This fund is contributed by both employees

and Transgasindo with contribution of 2% and
6% of the employees monthly salaries,
respectively.
Mulai Maret 2011, Transgasindo memberikan

imbalan jangka panjang lainnya.
Starting March 2011, the Transgasindo also

provides for other long-term employees
benefits.
PGASKOM, PGASSOL DAN GEI
PGASKOM, PGASSOL AND GEI
PGASKOM, PGASSOL dan GEI memberikan

imbalan kerja paska kerja yang tidak didanai
kepada karyawannya sesuai dengan Undangundang Ketenagakerjaan No. 13 Tahun 2003
tanggal 25 Maret 2003 (UU No. 13/2003).
PGASKOM, PGASSOL and GEI provide an

unfunded employee benefits to its employees
in accordance with Labor Law No. 13 Year
2003 dated March 25, 2003 (LL No. 13/2003).
40
Annual Report 2012
344

DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR KEBIJAKAN
r.
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG
2.
Transaksi dan Saldo dalam Mata Uang

Asing
r.
Foreign
Currency
Balances
ACCOUNTING
Transactions
and

applied PSAK No. 10 (Revised 2010), The
Effects of Changes in Foreign Exchange
Rates, which describes how to include foreign
operations in the financial statements of an
entity and translate financial statements into a
presentation currency. Each entity considers
the primary indicators and other indicators in
determining its functional currency. The
Company determined that its and the Groups
functional
currency
is
the
US Dollar and decided that the presentation
currency for the consolidated financial
statements is the US Dollar. In relation to such
change in the presentation currency, the
consolidated
statements
of
financial
position as of December 31, 2011 and
January 1, 2011/December 31, 2010 and the
income, changes in equity and cash flows for
the year ended December 31, 2011 were
restated and presented using the US Dollar as
the presentation currency.

2010), Pengaruh Perubahan Nilai Tukar Mata
Uang
Asing,
yang
menggambarkan
bagaimana memasukkan transaksi mata uang
asing dan kegiatan usaha luar negeri dalam
laporan keuangan entitas dan menjabarkan
laporan keuangan ke dalam mata uang
penyajian.
Masing-masing
Entitas
mempertimbangkan indikator utama dan
indikator lainnya dalam menentukan mata
uang fungsionalnya. Perusahaan menentukan
mata uang fungsionalnya dan mata uang
Kelompok Usaha adalah Dolar AS dan
memutuskan mata uang penyajian laporan
keuangan konsolidasian menggunakan Dolar
AS. Sehubungan dengan perubahan mata
uang
penyajian
tersebut,
laporan
posisi
keuangan
konsolidasian
tanggal
31 Desember 2010 dan laporan laba rugi
komprehensif
konsolidasian,
laporan
perubahan ekuitas konsolidasian dan laporan
arus kas konsolidasian untuk tahun yang
berakhir pada tanggal 31 Desember 2011
disajikan kembali dengan menggunakan mata
uang penyajian Dolar AS.
The impact of the initial adoption of PSAK

No. 10 (Revised 2010) including the
reclassification as disclosed in Note 42 is as
follows:
Dampak dari penerapan awal PSAK No. 10

(Revisi
2010)
termasuk
reklasifikasi
sebagaimana diungkapkan pada Catatan 42
31 Desember 2011/December 31, 2011

Dilaporkan
Sebelumnya/
As Previously
Reported
(Dalam Rupiah/
In Rupiah)
Disajikan Kembali/
As Restated
(Dalam Dolar AS/
In US Dollar)
ASET
ASET LANCAR
Kas dan setara kas
Persediaan - neto
waktu satu tahun
Total Aset Lancar
ASSETS
10,349,869,383,888
32,864,706,295
247,339,377,520
1,141,361,864
3,624,251
27,276,060
1,990,088,296,402
53,465,009,139
11,836,043,989
219,462,759
5,896,009
1,974,322
922,551,328,434
1,418,981,452
46,862,336,837
101,737,023
156,482
5,267,466
CURRENT ASSETS
Restricted cash
Trade receivables - net of allowance
for impairment losses
Inventories - net
advances
Prepaid taxes
Prepaid expenses
13,656,295,463,956
1,506,756,236
41
Annual Report 2012
345


DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR KEBIJAKAN
r.
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG
2.

Asing (lanjutan)
r.
Foreign
Currency
Balances (continued)
ACCOUNTING
Transactions
and

Dilaporkan
Sebelumnya/
As Previously
Reported
(Dalam Rupiah/
In Rupiah)
Disajikan Kembali/
As Restated
(Dalam Dolar AS/
In US Dollar)
ASET TIDAK LANCAR

waktu satu tahun
Penyertaan saham
akumulasi penyusutan
Lain-lain
734,732,100,038
188,512,050,099
411,771,929,371
81,075,539
20,788,713
45,000,454
15,866,649,691,328
88,885,050,809
11,418,121,080
18,181,405,544
1,733,532,415
9,802,057
1,229,796
1,991,795
Advances - net of
current maturities
depreciation
Intangible assets- net
Others
17,320,150,348,269
1,893,420,769
TOTAL ASET
30,976,445,812,225
3,400,177,005
TOTAL ASSETS
NON-CURRENT ASSETS

Utang usaha
Utang lain-lain
Utang pajak
890,995,485,514
98,257,111
CURRENT LIABILITIES
Trade payables
Accrued liabilities
Short-term employees benefits liabilities
Other payables
Taxes payable
long-term loans
2,483,316,997,394
273,846,324
23,448,724,509
1,616,967,611,921
2,585,876
178,315,793
Derivative payable
9,013,375,035,835
993,976,073
621,929,890,350
32,695,573,701
68,585,122
3,510,548

current maturities
employees benefits
Unearned income
11,308,416,836,316
1,246,973,412
TOTAL LIABILITAS
13,791,733,833,710
1,520,819,736
TOTAL LIABILITIES

Utang derivatif
Liabilitas imbalan kerja
jangka panjang
554,504,673,797
346,666,565,243
308,662,176,592
188,557,478,965
193,930,617,283
42
61,149,611
38,229,660
34,038,617
20,785,064
21,386,261
Annual Report 2012
346

DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR KEBIJAKAN
r.
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG
2.

Asing (lanjutan)
r.
Foreign
Currency
ACCOUNTING
Transactions
and

Dilaporkan
Sebelumnya/
As Previously
Reported
(Dalam Rupiah/
In Rupiah)
Disajikan Kembali/
As Restated
(Dalam Dolar AS/
In US Dollar)
EKUITAS
EQUITY

US$0,014 per saham
Saham seri B

the parent entity
(35,301,648)
1,804,930

Series B share
share and 24,241,508,195
Series B shares
Treasury stock
Retained earnings
Appropriated
Unappropriated
Difference arising from restructuring transaction
15,839,754,981,351
1,732,030,891

1,344,956,997,164
147,326,378
TOTAL EKUITAS
17,184,711,978,515
1,879,357,269
TOTAL EQUITY
30,976,445,812,225
3,400,177,005
24.241.508.195 saham Seri B
Saldo laba
Dicadangkan
Tidak dicadangkan
2,424,150,819,600
(2,501,246,250)
1,709,790,833,464
344,018,831
(251,054)
192,555,960
7,009,383,145,502
5,247,815,783,512
789,957,094
439,246,778
(314,889,945,926)
(233,994,408,551)
1 Januari 2011/31 Desember 2010/

Dilaporkan
Sebelumnya/
As Previously
Reported
(Dalam Rupiah/
In Rupiah)
Disajikan Kembali/
As Restated
(Dalam Dolar AS/
In US Dollar)
ASET
ASET LANCAR
Kas dan setara kas
Persediaan - neto
waktu satu tahun
Total Aset Lancar
ASSETS
11,065,594,698,455
6,358,338,764
1,230,741,263
707,189
1,891,593,890,275
55,300,191,303
14,046,340,060
210,387,486
6,150,616
2,564,799
755,633,771,641
16,451,818,392
53,700,320,469
84,043,351
1,829,809
5,859,398
CURRENT ASSETS
Restricted cash
Inventories - net
advances
Prepaid taxes
Prepaid expenses
13,858,679,369,359
1,542,283,911
43
Annual Report 2012
347


DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR KEBIJAKAN
r.
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG
2.

Asing (lanjutan)
r.
Foreign
Currency
ACCOUNTING
Transactions
and

Dilaporkan
Sebelumnya/
As Previously
Reported
(Dalam Rupiah/
In Rupiah)
Disajikan Kembali/
As Restated
(Dalam Dolar AS/
In US Dollar)
ASET TIDAK LANCAR

waktu satu tahun
Penyertaan saham
Lain-lain
1,075,094,305,889
141,023,733,291
197,851,510,000
119,573,324
15,684,989
21,490,854
16,781,896,739,636
1,461,312,985
10,489,661,143
20,934,361,770
1,837,398,444
162,531
1,129,660
2,433,686
Advances - net of
current maturities
depreciation
Intangible assets- net
Others
18,228,751,624,714
1,997,873,488
TOTAL ASET
32,087,430,994,073
3,540,157,399
TOTAL ASSETS
NON-CURRENT ASSETS

Utang usaha
Utang lain-lain
Utang pajak
643,990,887,988
441,745,374,870
260,643,583,041
224,889,254,013
419,319,414,673
71,626,169
49,131,949
28,989,388
25,011,543
46,637,684
2,045,188,653,101
227,470,654
CURRENT LIABILITIES
Trade payables
Accrued liabilities
Other payables
Taxes payable
long-term loans
4,035,777,167,686
448,867,387
48,371,809,750
1,695,882,571,498
5,380,026
188,620,017
Derivative payable
10,742,889,051,604
1,194,849,188
429,377,437,671
34,178,508,908
47,756,361
3,668,992
Long term loans - net of

current maturities
employees benefits
Unearned income
12,950,699,379,431
1,440,274,584
TOTAL LIABILITAS
16,986,476,547,117
1,889,141,971
TOTAL LIABILITIES

Utang derivatif
jangka panjang
44
Annual Report 2012
348

DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR KEBIJAKAN
r.
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG
2.

Asing (lanjutan)
r.
Foreign
Currency
ACCOUNTING
Transactions
and

Dilaporkan
Sebelumnya/
As Previously
Reported
(Dalam Rupiah/
In Rupiah)
Disajikan Kembali/
As Restated
(Dalam Dolar AS/
In US Dollar)
EKUITAS
EQUITY

US$0,014 per saham
saham seri B
24.241.508.195 saham Seri B
Saldo laba
Dicadangkan
Tidak dicadangkan

the parent entity
2,424,150,819,600
(2,501,246,250)
1,709,790,833,464
344,018,831
(251,054 )
192,555,960
4,763,213,088,130
5,554,113,820,326
528,622,591
484,371,222
(314,889,945,926)
(265,304,352,580)
(35,301,648)
1,252,468

Series B share
share and 24,241,508,195
Series B shares
Treasury stock
Retained earnings
Appropriated
Unappropriated
13,868,573,016,764
1,515,268,370

1,232,381,430,192
135,747,058
TOTAL EKUITAS
15,100,954,446,956
1,651,015,428
TOTAL EQUITY
32,087,430,994,073
3,540,157,399
Tahun yang berakhir pada tanggal/Year ended

Dilaporkan
Sebelumnya/
As Previously
Reported
(Dalam Rupiah/
In Rupiah)
Disajikan Kembali/
As Restated
(Dalam Dolar AS/
In US Dollar)
PENDAPATAN NETO
19,567,407,240,330
(7,793,750,922,430)
LABA BRUTO
11,773,656,317,900
Beban lain-lain
170,359,499,293
(2,496,077,905,748)
(1,555,200,315,071)
(54,119,983,509)
20,878,662
(280,226,926 )
(178,257,491)
(6,166,815)
7,838,617,612,865
898,156,663
LABA OPERASI
45
2,230,397,076
(888,467,843)
1,341,929,233
Annual Report 2012
NET REVENUES
COST OF REVENUES
GROSS PROFIT
Other income
Other expenses
OPERATING PROFIT
349


DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR KEBIJAKAN
r.
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG
2.

Asing (lanjutan)
r.
Foreign
Currency
ACCOUNTING
Transactions
and

Dilaporkan
Sebelumnya/
As Previously
Reported
(Dalam Rupiah/
In Rupiah)
Pendapatan keuangan
Rugi perubahan nilai wajar
derivatif - neto
Bagian rugi dari entitas asosiasi
Rugi kurs - neto
Beban keuangan
Disajikan Kembali/
As Restated
(Dalam Dolar AS/
In US Dollar)
307,175,118,588
35,107,116
(2,100,455,818)
(6,080,189,200)
(239,492,818,832)
(243,930,325,301)
(1,308,732)
(6,022,062)
(26,249,402)
(27,709,566)
Finance income
Loss on change in fair value of
derivative - net
Share in loss of the associate
Loss on foreign exchange - net
Finance cost
7,654,188,942,302
871,974,017
PROFIT BEFORE TAX BENEFIT

Kini
Tangguhan
(1,607,989,055,989)
72,009,774,710
(177,981,985)
7,908,487

Current
Deferred
Beban Pajak - Neto
(1,535,979,281,279)
(170,073,498)
Tax Expense - Net
6,118,209,661,023
701,900,519
PROFIT FOR THE YEAR
LABA SEBELUM MANFAAT PAJAK
LABA TAHUN BERJALAN

Aset keuangan
laporan keuangan
Entitas Anak - neto
10,150,870,520
1,119,417
35,102,493,695
(562,756)

Available-for-sale
financial assets

LAIN SETELAH PAJAK
45,253,364,215
556,661

INCOME AFTER TAX

TAHUN BERJALAN
6,163,463,025,238
702,457,180
TOTAL COMPREHENSIVE
INCOME FOR THE YEAR
LABA TAHUN BERJALAN

5,933,063,233,665
185,146,427,358
680,804,733
21,095,786
PROFIT FOR THE YEAR

ATTRIBUTABLE TO:
TOTAL
6,118,209,661,023
701,900,519
TOTAL

TAHUN BERJALAN
5,964,373,177,694
199,089,847,544
681,357,195
21,099,985

FOR THE YEAR
ATTRIBUTABLE TO:
TOTAL
6,163,463,025,238
702,457,180
TOTAL
0.03
PROFIT FOR THE YEAR

ATTRIBUTABLE TO EQUITY
HOLDERS OF THE PARENT ENTITY
PER SHARE, BASIC

DAPAT DIATRIBUSIKAN KEPADA
PEMILIK ENTITAS INDUK
PER SAHAM, DASAR
245
46
Annual Report 2012
350

DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR KEBIJAKAN
r.
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG
2.

Asing (lanjutan)
r.
Foreign
Currency
ACCOUNTING
Transactions
and

Dilaporkan
Sebelumnya/
As Previously
Reported
(Dalam Rupiah/
In Rupiah)
OPERASI
dari tagihan pajak
Pembayaran bunga
aktivitas operasi
INVESTASI
Penambahan kas yang
aktivitas investasi
PENDANAAN
Pembayaran dividen
Pembayaran pinjaman
dan bina lingkungan
Penerimaan atas penyertaan saham
oleh kepentingan nonpengendali
Entitas Anak
aktivitas pendanaan
PENURUNAN NETO
KAS DAN SETARA KAS
Disajikan Kembali/
As Restated
(Dalam Dolar AS/
In US Dollar)
19,497,510,272,100
371,297,600,103
(7,712,824,282,102)
2,221,685,309
42,308,295
(878,854,180)
(2,135,628,313,001)
(243,348,714)
(990,216,227,811)
(521,392,787,204)
(194,375,843,689)
(112,832,296)
(59,538,369)
(22,148,569)

ACTIVITIES
8,314,370,418,396
947,271,476

(8,114,560)
(925)

ACTIVITIES
(19,983,862,301)
(686,185,070,520)
(233,006,256,250)
(220,000,000,000)
(2,917,061)
(78,188,818)
(5,993,750)
(24,202,420)
Additions to restricted cash

(1,159,183,303,631)
(111,302,974)
Net cash used in

(3,839,267,239,917)
(3,655,310,307,715)
(102,788,262,253)
(450,058,318)
(416,512,113)
(2,257,653)
(249,574,450,820)
1,938,317,540
(29,172,934)
220,866
710,000,000

ACTIVITIES
Payments of loans
development program
Receipts from the issuance
of shares to non-controlling
interest of the Subsidiary
(7,844,291,943,165)
(897,780,152)
Net cash used in

(20,120,486,167)
(27,567,749)

on cash and cash equivalents
(709,225,314,567)
(89,379,399)
NET DECREASE IN
KAS DAN SETARA KAS

AWAL TAHUN
11,065,594,698,455
1,230,741,263

KAS DAN SETARA KAS

AKHIR TAHUN
10,356,369,383,888
1,141,361,864

AT END OF YEAR
47
Annual Report 2012
351

DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR KEBIJAKAN
r.
AKUNTANSI
YANG
2.

Asing (lanjutan)
r.
Foreign
Currency
ACCOUNTING
Transactions
and
Transaksi dalam mata uang asing dicatat

dalam mata uang fungsional berdasarkan nilai
tukar yang berlaku pada saat transaksi
dilakukan. Pada tanggal pelaporan aset dan
liabilitas moneter dalam mata uang asing
dijabarkan sesuai dengan rata-rata kurs jual
dan beli yang diterbitkan oleh Bank Indonesia
pada tanggal transaksi perbankan terakhir
untuk tahun yang bersangkutan dan laba atau
rugi kurs yang timbul dikreditkan atau
dibebankan pada operasi tahun yang
bersangkutan, kecuali untuk selisih kurs yang
dapat
diatribusikan
ke
aset
tertentu
dikapitalisasi ke aset dalam pembangunan dan
pemasangan.
Transactions involving foreign currencies are

recorded in the functional currency at the rates
of exchange prevailing at the time the
transactions are made. At the reporting date,
monetary assets and liabilities denominated in
foreign currencies are adjusted to reflect the
average of the selling and buying rates of
exchange prevailing of the last banking
transcation date of the year, as published by
Bank Indonesia and any resulting gains or
losses are credited or charged to current year
operations, except for foreign exchange
differentials that can be attributed to qualifying
assets which are capitalized to properties
under construction and installation.
Nilai tukar yang digunakan adalah sebagai

berikut:
The rates of exchange used were as follows:
31 Des. 2012/
Dec. 31, 2012
1 Dolar Amerika (US$)/Rupiah
1 Dolar Amerika (US$)/SG$
1 Dolar Amerika (US$)/JPY
s.

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
31 Des. 2011/
Dec. 31, 2011
9,670.00
1.22
86.36
31 Des. 2010/
Dec. 31, 2010
9,068.00
1.30
77.63
Pajak Penghasilan
s.
8,991.00
1.29
81.52
US Dollar 1 (US$)/Rupiah
US Dollar 1 (US$))/SG$
US Dollar 1 (US$)/JPY
Income Tax
Effective January 1, 2012, the Group applied
PSAK No. 46 (Revised 2010), Income Taxes
which prescribes the accounting treatment for
income taxes to account for the current and
future tax consequences of the future recovery
(settlement) of the carrying amount of assets
(liabilities) that are recognized in the statements
of financial position; and transactions and other
events of the current year that are recognized in
the consolidated financial statements. The
revised SAK also prescribes an entity to present
the underpayment/overpayment of income tax,
as part of Tax Expense - Current in the
consolidated statement of comprehensive
income.
The
Group
also
presented
interest/penalty, if any, as part of Tax Expenses
- Current. The initial adoption of the revised
SAK did not give any impact to the Groups
consolidated financial statements.

2010),
Pajak
Penghasilan
yang
menetapkan perlakuan akuntansi untuk pajak
penghasilan
dalam
memperhitungkan
konsekuensi pajak kini dan mendatang dari
pemulihan (penyelesaian) jumlah tercatat aset
(liabilitas) masa depan yang diakui dalam
laporan posisi keuangan dan transaksi dan
kejadian lain dari tahun kini yang diakui dalam
laporan keuangan konsolidasian. SAK revisi
ini juga mensyaratkan entitas untuk mencatat
kekurangan/kelebihan pembayaran pajak
penghasilan sebagai bagian dari Beban
Pajak Kini dalam laporan laba rugi
komprehensif
konsolidasian.
Kelompok
Usaha juga menyajikan bunga/denda, jika
ada, sebagai bagian dari Beban Pajak Kini
Penerapan awal SAK revisi ini tidak
berdampak terhadap laporan keuangan
konsolidasian Kelompok Usaha.
48
Annual Report 2012
352

DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR KEBIJAKAN
s.
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG
2.
Pajak Penghasilan (lanjutan)

s.
Income Tax (continued)
Sehubungan dengan penerapan PSAK

No.
10
(Revisi
2010),
Perusahaan
mengajukan
perubahan
mata
uang
pembukuan untuk perpajakan menjadi Dolar
AS. Perubahan ini disetujui oleh Kementerian
Keuangan Republik Indonesia - Direktorat
Jenderal Pajak dalam Surat Keputusan
No. KEP-278/WPJ.19/2012 tanggal 20 Maret
2012. Transgasindo juga memperoleh
persetujuan Kementerian Keuangan Republik
Indonesia - Direktorat Jenderal Pajak untuk
menyelenggarakan pembukuan dalam Dolar
AS untuk tujuan perpajakan berdasarkan
Surat Keputusan No. KEP-401/PJ.42/2002
tanggal 16 September 2002.
In relation to the adoption of PSAK No. 10

(Revised 2010), the Company applied for
change in bookkeeping currency to US Dollar.
The change was approved by the Ministry of
Finance of the Republic of Indonesia Directorate General of Taxation in its Decision
Letter
No.
KEP-278/WPJ.19/2012
dated
March 20, 2012. Transgasindo also obtained
approval from the Ministry of Finance of the
Republic of Indonesia - Directorate General of
Taxation to use US Dollar as its bookkeeping for
tax purposes based on Decision Letter
No. KEP-401/PJ.42/2002 dated September 16,
2002.
Pajak kini
Current tax
Beban pajak penghasilan merupakan jumlah

dari pajak penghasilan badan yang terutang
saat ini dan pajak tangguhan.
Income tax expense represents the sum of the

corporate income tax currently payable and
deferred tax.
Aset dan liabilitas pajak kini untuk tahun

berjalan dan lalu diukur sebesar jumlah yang
diharapkan dapat direstitusi dari atau
dibayarkan kepada otoritas perpajakan. Tarif
pajak dan peraturan pajak yang digunakan
untuk menghitung jumlah tersebut adalah
yang telah berlaku atau secara substantif
telah berlaku pada tanggal pelaporan.
Current income tax assets and liabilities for the

current and prior year are measured at the
amount expected to be recovered from or paid
to the tax authority. The tax rates and tax laws
used to compute the amount are those that
have been enacted or substantively enacted as
the reporting dates.
Penghasilan kena pajak berbeda dengan laba

yang dilaporkan dalam laba atau rugi karena
penghasilan kena pajak tidak termasuk bagian
dari pendapatan atau beban yang dikenakan
pajak atau dikurangkan di tahun-tahun yang
berbeda, dan juga tidak termasuk bagianbagian yang tidak dikenakan pajak atau tidak
dapat dikurangkan.
Taxable profit differs from profit as reported in

the profit or loss because it excludes items of
income or expense that are taxable or
deductible in other years and it further excludes
items that are never taxable or deductibe.
Koreksi terhadap liabilitas perpajakan dicatat

saat surat ketetapan pajak diterima atau
apabila dilakukan banding, ketika hasil
banding sudah diputuskan.
Amendments to taxation obligations are

recorded when an assessment is received or if
appealed against, when the results of the
appeal are determined.
Pajak tangguhan
Deferred tax
Pajak tangguhan diakui dengan menggunakan

metode liabilitas atas perbedaan temporer
pada tanggal pelaporan antara dasar
pengenaan pajak aset dan liabilitas dan
jumlah tercatatnya untuk tujuan pelaporan
keuangan pada tanggal pelaporan.
Deferred tax is provided using the liability

method on temporary differences at the
reporting date between the tax bases of assets
and liabilities and their carrying amounts for
financial reporting purposes at the reporting
date.
49
Annual Report 2012
353

DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR KEBIJAKAN
s.
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG
2.
s.
ACCOUNTING
Pajak tangguhan (lanjutan)
Deferred tax (continued)
Liabilitas pajak tangguhan diakui untuk semua

perbedaan temporer yang kena pajak dan
aset pajak tangguhan diakui untuk perbedaan
temporer yang boleh dikurangkan dan rugi
fiskal yang belum terpakai, sepanjang besar
kemungkinan besar laba kena pajak akan
tersedia sehingga perbedaan temporer yang
boleh dikurangkan dan rugi fiskal yang belum
terpakai tersebut dapat dimanfaatkan.
Deferred tax liabilities are recognized for all

taxable temporary differences and deferred tax
assets are recognized for deductible temporary
differences and unused tax losses to the extent
that it is probable that taxable income will be
available in future years against which the
deductible temporary differences and unused
tax losses can be utilized.
Aset pajak tangguhan diakui untuk seluruh

perbedaan temporer yang boleh dikurangkan
dan akumulasi rugi pajak yang belum
dikompensasikan, bila kemungkinan besar
laba kena pajak akan tersedia sehingga
perbedaan temporer dapat dikurangkan
tersebut
dan
rugi
pajak
belum
tersebut
dapat
dikompensasikan
dimanfaatkan.
Deferred tax assets are recognized for all

deductible temporary differences and carry
forward of unused tax losses to the extent that
it is probable that taxable profits will be
available against which the deductible
temporary differences and carry forward of
unused tax losses can be utilized.
Liabilitas pajak tangguhan dan aset pajak

tangguhan (jika memenuhi kriteria) diakui atas
perbedaan temporer kena pajak terkait dengan
investasi pada entitas anak dan asosiasi,
kecuali yang waktu pembalikannya dapat
dikendalikan
dan
kemungkinan
besar
perbedaan temporer tersebut tidak akan
dibalik di masa depan yang dapat
diperkirakan.
Deferred tax liabilities and assets (provided

fulfilling recognition criteria) are recognized in
respect of taxable temporary differences
associated with investments in subsidiaries and
associates, except where the timing of the
reversal of the temporary differences can be
controlled and it is probable that the temporary
differences will not reverse in the foreseeable
future.
Jumlah tercatat aset pajak tangguhan ditelaah

pada setiap tanggal pelaporan dan nilai
tercatat aset pajak tangguhan tersebut
diturunkan apabila laba fiskal mungkin tidak
memadai untuk mengkompensasi sebagian
atau semua manfaat aset pajak tangguhan.
Aset pajak tangguhan yang belum diakui
sebelumnya ditelaah pada setiap tanggal
pelaporan dan diakui sepanjang laba kena
pajak yang akan datang kemungkinan besar
akan tersedia untuk dipulihkan.
The carrying amount of deferred tax assets is

reviewed at each reporting date and reduced to
the extent that it is no longer probable that
sufficient taxable profit will be available to
allow all or part of the benefit of the deferred
tax assets to be utilized. Unrecognized
deferred tax assets are reassessed at each
reporting date and are recognized to the extent
that it has become probable that future taxable
income will allow the deferred tax assets to be
recovered.
50
Annual Report 2012
354

DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR KEBIJAKAN
s.
t.
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG
2.

s.
Pajak tangguhan (lanjutan)
Deferred tax (continued)
Aset dan liabilitas pajak tangguhan diukur

berdasarkan tarif pajak yang diharapkan akan
dipakai pada tahun saat aset direalisasikan
atau liabilitas diselesaikan berdasarkan tariff
pajak dan peraturan perpajakan yang berlaku
atau yang telah secara substantif berlaku pada
tanggal pelaporan.
Deferred tax assets and liabilities are

measured at the tax rates that are expected to
apply to the year when the asset is realized or
the liability is settled based on the tax rates and
tax laws that have been enacted or
substantively enacted as at the reporting date.
Perubahan nilai tercatat aset dan liabilitas

pajak tangguhan yang disebabkan perubahan
tarif pajak dibebankan pada tahun berjalan,
kecuali
untuk
transaksi-transaksi
yang
sebelumnya telah langsung dibebankan atau
dikreditkan ke ekuitas.
Changes in the carrying amount of deferred tax

assets and liabilities due to a change in tax
rates are charged to current year operations,
except to the extent that they relate to items
previously charged or credited to equity.
Pajak tangguhan sehubungan dengan bagian

yang diakui di luar laba atau rugi diakui di luar
laba atau rugi. Pajak tangguhan tersebut
diakui berkaitan dengan transaksi baik yang
ada di pendapatan komprehensif lainnya atau
langsung dibebankan ke ekuitas.
Deferred tax relating to items recognized

outside of profit or loss is recognized outside
profit or loss. Deferred tax items are
recognized in correlation to the underlying
transaction either in other comprehensive
income or directly in equity.
Aset pajak tangguhan dan liabilitas pajak

tangguhan disaling-hapuskan jika terdapat hak
secara hukum untuk melakukan saling hapus
atas aset pajak kini terhadap liabilitas pajak
kini atau aset dan liabilitas pajak tangguhan
pada entitas yang sama, atau kelompok usaha
yang bermaksud untuk menyelesaikan aset
dan liabilitas lancar berdasarkan jumlah neto.
Deferred tax assets and deferred tax liabilities

are offset when a legally enforceable right
exists to offset current tax assets against
current tax liabilities, or the deferred tax assets
and deferred tax liabilities relate to the same
taxable entity, or the group intends to settle its
current assets and liabilities on a net basis.
Informasi Segmen
t.
Segment Information
For management purposes, the Group is
organized into three operating segments based
on their products and services which are
independently managed by the respective
segment managers responsible for the
performance of the respective segments under
their charge. The segment managers report
directly to the management who regularly
review the segment results in order to allocate
resources to the segments and to assess the
segment performance. Additional disclosures
on each of these segments are shown in
Note 40, including the factors used to identify
the reportable segments and the measurement
basis of segment information.
Untuk tujuan manajemen, Kelompok Usaha

dibagi
menjadi
tiga
segmen
operasi
berdasarkan produk dan jasa yang dikelola
secara independen oleh masing-masing
pengelola segmen yang bertanggung jawab
atas kinerja dari masing-masing segmen. Para
pengelola
segmen
melaporkan
secara
langsung kepada manajemen yang secara
teratur mengkaji hasil operasi sebagai dasar
untuk mengalokasikan sumber daya ke
masing-masing segmen dan untuk menilai
kinerja segmen. Pengungkapan tambahan
pada masing-masing segmen terdapat dalam
Catatan 40, termasuk faktor yang digunakan
untuk
mengidentifikasi
segmen
yang
dilaporkan dan dasar pengukuran informasi
segmen.
51
Annual Report 2012
355

DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR KEBIJAKAN
u.
v.
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG
2.
Laba per Saham Dasar

u. Basic Earnings per Share

2011), yang menetapkan prinsip penentuan
dan penyajian laba per saham. Penerapan
PSAK revisi ini tidak berdampak pada laporan
keuangan konsolidasian Kelompok Usaha.
Effective on January 1, 2012, the Group applied

PSAK No. 56 (Revised 2011), which prescribe
principles for the determination and presentation
of earnings per share. The adoption of the
revised PSAK has no impact on the Groups
consolidated financial statements.
Laba per saham dasar dihitung dengan

membagi total laba tahun berjalan yang dapat
diatribusikan kepada pemilik entitas induk
dengan jumlah rata-rata tertimbang saham
biasa yang beredar pada tahun yang
bersangkutan.
Basic earnings per share amounts are computed

by dividing the total profit for the year attributable
to owners of the parent entity by the weighted
average number of ordinary shares outstanding
during the year.
Perusahaan tidak mempunyai efek berpotensi

saham biasa yang bersifat dilutif pada
tanggal-tanggal 31 Desember 2012 dan 2011,
dan oleh karenanya, laba per saham dilusian
tidak dihitung dan disajikan pada laporan laba
rugi komprehensif konsolidasian.
The Company has no outstanding dilutive

potential ordinary shares as of December 31,
2012 and 2011, and accordingly, no diluted
earnings per share is calculated and presented in
the consolidated statements of comprehensive
income.
Instrumen Keuangan Derivatif
v. Derivative Financial Instruments
Perusahaan melakukan transaksi swap valuta

asing untuk tujuan mengelola risiko perubahan
nilai tukar mata uang asing yang berasal dari
pinjaman jangka panjang Perusahaan dalam
mata uang asing.
The Company enters into and engages in cross

currency swap for the purpose of managing its
foreign exchange exposures emanating from the
Companys long-term loans in foreign currencies.
Efektif tanggal 1 Januari 2012, Perusahaan

Instrumen
Keuangan:
Pengakuan dan
Pengukuran.
Effective on January 1, 2012, the Company

applied PSAK No. 55 (Revised 2011), Financial
Instruments: Recognition and Measurement.
PSAK No. 55 (Revisi 2011) mengatur standar

akuntansi dan pelaporan untuk transaksi
derivatif dan aktivitas lindung nilai, yang
mengharuskan setiap instrumen derivatif
(termasuk instrumen derivatif melekat) diakui
sebagai aset atau liabilitas berdasarkan nilai
wajar setiap kontrak. Nilai wajar merupakan
perhitungan nilai kini (present value) dengan
menggunakan data dan asumsi yang berlaku
umum.
PSAK No. 55 (Revised 2011) sets forth the

accounting and reporting standards for derivative
transactions and hedging activities, which require
that every derivative instrument (including
embedded derivatives) be recognized as either
asset or liability based on the fair value of each
contract. Fair value is a computation of present
value by using data and assumption which are
commonly used.
52
Annual Report 2012
356


DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR KEBIJAKAN
v.
w.
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG
2.
Instrumen Keuangan Derivatif (lanjutan)

v. Derivative Financial Instruments (continued)
Berdasarkan kriteria khusus untuk akuntansi

lindung nilai pada PSAK No. 55 (Revisi 2011),
semua instrumen derivatif yang ada pada
Perusahaan tidak memenuhi persyaratan
tersebut dan oleh karena
itu
tidak
dikategorikan sebagai lindung nilai yang efektif
untuk tujuan akuntansi. Perubahan atas nilai
wajar instrumen derivatif dibebankan atau
dikreditkan pada usaha tahun berjalan.
Based on the specific requirements for hedge

accounting under PSAK No. 55 (Revised 2011),
the Companys derivative instrument does not
qualify and are not designated as hedge activity
for accounting purposes. The changes in fair
value of such derivative instrument is charged or
credited to current year operations.
Perubahan neto nilai wajar instrumen derivatif

dan laba (rugi) dari penyelesaian kontrak
derivatif dibebankan atau dikreditkan pada
akun Laba (Rugi) Perubahan Nilai Wajar
Derivatif - Neto, dalam laporan laba rugi
The net changes in fair value of derivative

instrument and gain (loss) from the settlement of
derivative contract is charged or credited to Gain
(Loss) on Change in Fair Value of Derivative Net account in the consolidated statements of
Penerapan
Lainnya
Standar
Akuntansi
Revisi
w. Adoption of
Standards
iii)
iv)
v)
vi)
vii)
Revised
Accounting
Other than the revised accounting standards

previously mentioned above, the Group also
adopted the following revised accounting
standards starting from January 1, 2012, which
are considered relevant to the consolidated
financial statements but do not have significant
impact except for the related disclosures:
Selain standar akuntansi revisi yang telah

disebutkan sebelumnya di atas, Kelompok
Usaha juga telah menerapkan standar
akuntansi berikut mulai dari tanggal 1 Januari
2012 yang dianggap relevan terhadap laporan
keuangan
konsolidasian
namun
tidak
menimbulkan dampak yang signifikan kecuali
bagi pengungkapan terkait:
i)
ii)
Other
PSAK No. 30 (Revisi 2011), Sewa,

PSAK No. 61, Akuntansi Hibah
Pemerintah dan Pengungkapan Bantuan
Pemerintah,
PSAK No. 62 (Revisi 2011), Kontrak
Asuransi,
i)
ii)
ISAK No. 15, PSAK No. 24 - Batas Aset

Imbalan Pasti, Persyaratan Pendanaan
Minimum dan Interaksinya,
iv)
iii)
ISAK No. 18, Bantuan Pemerintah-Tidak

Ada Relasi Spesifik dengan Aktivitas
Operasi,
v)
ISAK No. 20, Pajak penghasilan Perubahan Dalam Status Pajak Entitas
atau Para Pemegang Saham,
ISAK No. 26 (Revisi 2011), Penilaian
Ulang Derivatif Melekat.
vi)
vii)
53
PSAK No. 30 (Revised 2011), Leases,

PSAK
No.
61,
Accounting
for
Government Grants and Disclosures of
Government Assistance,
PSAK No. 62 (Revised 2011), "Insurance
Contracts",
ISAK No. 15, PSAK No. 24 - The Limit on
a Defined Benefit Asset, Minimum
Funding
Requirements
and
their
Interaction,
ISAK No. 18, Government Assistance-No
Specific Relation to Operating Activities,
ISAK No. 20, Income Taxes - Changes in
the Tax Status of an Entity or its
Shareholders,
ISAK
No.
26
(Revised
2011),
Reassessment
of
Embedded
Derivatives.
Annual Report 2012
357

DAN ENTITAS ANAK
KONSOLIDASIAN
2.
IKHTISAR KEBIJAKAN
x.
3.
AKUNTANSI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
YANG
2.

Standar Akuntansi Revisi yang Telah

Diterbitkan namun Belum Efektif Berlaku
x. Amended Accounting Standards that Have

Been Published but Not Yet Effective
Berikut ini adalah standar akuntansi yang

direvisi dan diterbitkan namun belum berlaku
efektif pada tanggal 1 Januari 2012 yang
dipandang
relevan
terhadap
pelaporan
keuangan Kelompok Usaha:
The amended and published accounting

standard that are considered relevant to the
financial reporting of the Group but not yet
effective as at January 1, 2012 are as follows:
i)
i)
PSAK No. 38 (Revisi 2012), Kombinasi

Bisnis Entitas Sepengendali
PSAK No. 38, Business Combination

under Common Control
PSAK revisi ini mengatur perlakuan

akuntansi bagi transaksi kombinasi bisnis
antar entitas sepengendali.
The revised PSAK prescribes accounting

treatment for business combination
among entities under common control.
Kelompok Usaha sedang mengevaluasi

dampak dari standar akuntansi yang direvisi
tersebut dan belum menentukan dampaknya
terhadap laporan keuangan konsolidasian.
The Group is presently evaluating and has not

yet determined the effects of the amended
accounting standard on the consolidated
SUMBER ESTIMASI KETIDAKPASTIAN DAN

PERTIMBANGAN
3.
SOURCE OF ESTIMATION UNCERTAINTY AND

JUDGMENT
Pertimbangan
Judgments
Penyusunan laporan keuangan konsolidasian

Kelompok Usaha mengharuskan manajemen
untuk membuat pertimbangan, estimasi dan
asumsi yang mempengaruhi jumlah yang
dilaporkan dari pendapatan, beban, aset dan
liabilitas, dan pengungkapan atas liabilitas
kontijensi,
pada
akhir
tahun
pelaporan.
Ketidakpastian mengenai asumsi dan estimasi
tersebut dapat mengakibatkan penyesuaian
material terhadap nilai tercatat pada aset dan
liabilitas dalam tahun pelaporan berikutnya.
The preparation of the Groups consolidated financial

requires
management
to
make
statements
judgments, estimates and assumptions that affect the
reported amounts of revenues, expenses, assets and
liabilities, and the disclosure of contingent liabilities,
at the end of the reporting year. Uncertainty about
these assumptions and estimates could result in
outcomes that require a material adjustment to the
carrying amount of the asset and liability affected in
future years.
Pertimbangan berikut ini dibuat oleh manajemen

dalam rangka penerapan kebijakan akuntansi
Kelompok Usaha yang memiliki pengaruh paling
signifikan atas jumlah yang diakui dalam laporan
keuangan konsolidasian:
The following judgments are made by management in

the process of applying the Groups accounting
policies that have the most significant effects on the
amounts recognized in the consolidated financial
statements:
54
Annual Report 2012
358

DAN ENTITAS ANAK
KONSOLIDASIAN
3.

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

PERTIMBANGAN (lanjutan)
3.

JUDGMENT (continued)
Pertimbangan (lanjutan)
Judgments (continued)
Penentuan Mata Uang Fungsional
Determination of Functional Currency
Mata uang fungsional adalah mata uang dari

lingkungan ekonomi primer dimana Kelompok
Usaha
beroperasi.
Manajemen
mempertimbangkan mata uang yang paling
mempengaruhi pendapatan dan beban dari jasa
yang diberikan serta mempertimbangkan indikator
lainnya dalam menentukan mata uang yang paling
tepat menggambarkan pengaruh ekonomi dari
transaksi, kejadian dan kondisi yang mendasari.
The functional currency is the currency of the primary

economic environment in which the Group operates.
The management considered the currency that
mainly influences the revenue and cost of rendering
services and other indicators in determining the
currency that most faithfully represents the economic
effects of the underlying transactions, events, and
conditions.
Klasifikasi Aset dan Liabilitas Keuangan
Classification of Financial Assets and Liabilities
Kelompok Usaha menetapkan klasifikasi atas aset

dan liabilitas tertentu sebagai aset keuangan dan
liabilitas keuangan dengan mempertimbangkan
bila definisi yang ditetapkan PSAK No. 55 (Revisi
2011) dipenuhi. Dengan demikian, aset keuangan
dan liabilitas keuangan diakui sesuai dengan
kebijakan akuntansi Kelompok Usaha seperti
diungkapkan pada Catatan 2.d.
The Group determines the classifications of certain

assets and liabilities as financial assets and financial
liabilities by judging if they meet the definition set
forth in PSAK No. 55 (Revised 2011). Accordingly,
the financial assets and financial liabilities are
accounted for in accordance with the Groups
accounting policies disclosed in Note 2.d.
Cadangan atas Kerugian Penurunan Nilai Piutang

Usaha
Allowance for
Receivables
Kelompok Usaha mengevaluasi akun tertentu jika

terdapat informasi bahwa pelanggan yang
bersangkutan tidak dapat memenuhi kewajiban
keuangannya. Dalam hal tersebut, Kelompok
Usaha mempertimbangkan, berdasarkan fakta dan
situasi yang tersedia, termasuk namun tidak
terbatas pada, jangka waktu hubungan dengan
pelanggan dan status kredit dari pelanggan, untuk
mencatat provisi yang spesifik atas jumlah piutang
pelanggan guna mengurangi jumlah piutang yang
diharapkan dapat diterima oleh Kelompok Usaha.
The Group evaluates specific accounts where it has

information that certain customers are unable to meet
their financial obligations. In these cases, the Group
uses judgment, based on the best available facts and
circumstances, including but not limited to, the length
of its relationship with the customer and the
customers current credit status, to record specific
provisions for customers against amounts due to
reduce its receivable amounts that the Group expects
to collect.
Provisi yang spesifik ini dievaluasi kembali dan

disesuaikan jika tambahan informasi yang diterima
mempengaruhi
jumlah
cadangan
kerugian
penurunan nilai atas piutang usaha. Nilai tercatat
dari piutang usaha Kelompok Usaha sebelum
penyisihan kerugian penurunan nilai pada tanggal
31
Desember
2012
adalah
sebesar
US$272.334.558
(31
Desember
2011:
US$231.842.487; 1 Januari 2011/31 Desember
2010: US$221.354.340). Penjelasan lebih lanjut
diungkapkan dalam Catatan 7.
These specific provisions are re-evaluated and

adjusted as additional information received affects
the amounts of allowance for impairment losses on
trade receivables. The carrying amount of the
Groups trade receivables before allowance for
impairment losses as of December 31, 2012 was
US$272,334,558
(December
31,
2011:
US$231,842,487; January 1, 2011/December 31,
2010: US$221,354,340). Further details are disclosed
in Note 7.
55
Annual Report 2012
Impairment
Losses
on
Trade
359

DAN ENTITAS ANAK
KONSOLIDASIAN
3.

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

3.

JUDGEMENT (continued)
Estimasi dan Asumsi
Estimates and Assumptions
Asumsi utama masa depan dan sumber utama

estimasi ketidakpastian lain pada tanggal
pelaporan yang memiliki risiko signifikan bagi
penyesuaian yang material terhadap nilai tercatat
aset dan liabilitas untuk tahun berikutnya
diungkapkan di bawah ini. Kelompok Usaha
mendasarkan asumsi dan estimasi pada
parameter yang tersedia pada saat laporan
keuangan konsolidasian disusun. Asumsi dan
situasi mengenai perkembangan masa depan
mungkin berubah akibat perubahan pasar atau
situasi di luar kendali Kelompok Usaha.
Perubahan tersebut dicerminkan dalam asumsi
terkait pada saat terjadinya.
The key assumptions concerning the future and other

key sources of estimation uncertainty at the reporting
date that have a significant risk of causing a material
adjustment to the carrying amounts of assets and
liabilities within the next financial year are disclosed
below. The Group based its assumptions and
estimates on parameters available when the
consolidated financial statements were prepared.
Existing circumstances and assumptions about future
developments may change due to market changes
or circumstances arising beyond the controls of the
Group. Such changes are reflected in the
assumptions when they occur.
Estimasi Masa Manfaat Aset Tetap
Estimating Useful Lives of Fixed Assets
Kelompok Usaha mengestimasi masa manfaat

ekonomis aset tetap berdasarkan utilisasi dari aset
yang diharapkan dan didukung dengan rencana
dan strategi usaha dan perilaku pasar. Estimasi dari
masa manfaat aset tetap adalah berdasarkan
penelaahan Kelompok Usaha terhadap praktek
industri, evaluasi teknis internal dan pengalaman
untuk aset yang setara. Estimasi masa manfaat
ditelaah minimal setiap akhir tahun pelaporan dan
diperbarui jika ekspektasi berbeda dari estimasi
dan
sebelumnya
dikarenakan
pemakaian
kerusakan fisik, keusangan secara teknis atau
komersial dan hukum atau pembatasan lain atas
penggunaan dari aset. Tetapi, adalah mungkin,
hasil di masa depan dari operasi dapat dipengaruhi
secara material oleh perubahan-perubahan dalam
estimasi yang diakibatkan oleh perubahan faktorfaktor yang disebutkan di atas.
The Group estimates the useful lives of its fixed

assets based on expected asset utilization as
anchored on business plans and strategies that also
consider expected market behavior. The estimation
of the useful lives of fixed assets is based on the
Groups assessment of industry practice, internal
technical evaluation and experience with similar
assets. The estimated useful lives are reviewed at
least each financial year-end and are updated if
expectations differ from previous estimates due to
physical wear and tear, technical or commercial
obsolescence and legal or other limitations on the
use of the assets. It is possible, however, that future
results of operations could be materially affected by
changes in the estimates brought about by changes
in the factors mentioned above.
Kelompok Usaha mengestimasi masa manfaat

ekonomis aset tetap antara 4 sampai dengan 20
tahun. Ini adalah umur yang secara umum
diharapkan dalam industri dimana Kelompok Usaha
menjalankan
bisnisnya.
Perubahan
tingkat
pemakaian
dan
perkembangan
teknologi
dapat mempengaruhi masa manfaat ekonomis
dan nilai sisa aset, dan karenanya biaya
penyusutan masa depan mungkin direvisi.
Nilai tercatat neto atas aset tetap Kelompok
Usaha pada tanggal 31 Desember 2012 adalah
sebesar US$1.693.759.814 (31 Desember 2011:
US$1.733.532.415; 1 Januari 2011/31 Desember
2010: US$1.837.398.444). Penjelasan lebih rinci
diungkapkan dalam Catatan 13.
The Group estimates the useful lives of these fixed

assets to be within 4 to 20 years. These are common
life expectacies applied in the industries where the
Group conducts its businesses. Changes in the
expected level of usage and technological
development could impact the economic useful lives
and the residual values of these assets, and
therefore future depreciation charges could be
revised. The net carrying amount of the Groups
fixed assets as of December 31, 2012 was
US$1,693,759,814
(December
31,
2011:
US$1,733,532,415; January 1, 2011/December 31,
2010: US$1,837,398,444). Further details are
disclosed in Note 13.
56
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360

DAN ENTITAS ANAK
KONSOLIDASIAN
3.

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

3.

Estimasi dan Asumsi (lanjutan)
Estimates and Assumptions (continued)
Pensiun dan Imbalan Kerja
Pension and Employees Benefits
Biaya program pensiun manfaat pasti dan imbalan

jangka panjang lainnya serta nilai kini kewajiban
imbalan kerja ditentukan dengan menggunakan
penilaian aktuaria. Penilaian aktuaria melibatkan
penentuan berbagai asumsi, termasuk penentuan
tingkat diskonto, tingkat kenaikan gaji masa depan,
tingkat mortalitas, tingkat pengunduran diri
karyawan, tingkat kecacatan dan tingkat hasil yang
diharapkan dari aset program. Karena kerumitan
penilaian, asumsi yang mendasari dan sifat jangka
panjangnya, kewajiban manfaat pasti sangat
sensitif
terhadap perubahan
asumsi-asumsi
tersebut. Seluruh asumsi ditelaah setiap akhir
tahun pelaporan.
The cost of defined benefit pension plans and other

long-term employees benefits and the present value
of the defined benefit obligation are determined
using actuarial valuations. An actuarial valuation
involves making various assumptions, which
includes the determination of the discount rate,
future salary increases, mortality rates, employee
turn-over rate, disability rate, and the expected rate
of return on plan assets. Due to the complexity of the
valuation, the underlying assumptions and its long
term nature, a defined benefit obligation is highly
sensitive to changes in these assumptions. All
assumptions are reviewed at financial year-end.
Dalam menentukan tingkat diskonto yang sesuai,

manajemen memperhitungkan tingkat bunga (pada
akhir tahun pelaporan) dari obligasi Pemerintah
dalam Rupiah. Kelompok Usaha menggunakan
tingkat diskonto tunggal untuk masing-masing
entitas
dalam
Kelompok
Usaha
yang
mencerminkan
rata-rata
perkiraan
jadwal
pembayaran imbalan dan mata uang yang
digunakan dalam membayar imbalan. Tingkat
mortalitas adalah berdasarkan tabel mortalita yang
tersedia pada publikasi. Tingkat kenaikan gaji masa
depan didasarkan pada rencana kerja jangka
panjang Kelompok Usaha yang juga dipengaruhi
oleh tingkat inflasi masa depan yang diharapkan
dalam suatu negara.
In determining the appropriate discount rate,

management considers the market yields (at year
end) on Indonesian Rupiah Government bonds. The
Group uses a single discount rate for each entity
within the Group that reflects the estimated average
timing of benefit payments and the currency in which
the benefits are to be paid. The mortality rate is
based on publicly available mortality tables. Future
salary increases is based on the Group long-term
business plan which is also influenced by expected
future inflation rates for the country.
Walaupun Kelompok Usaha berkeyakinan bahwa

asumsi tersebut adalah wajar dan sesuai,
perbedaan signifikan pada hasil aktual atau
perubahan signifikan dalam asumsi yang ditetapkan
Kelompok Usaha dapat mempengaruhi secara
material liabilitas diestimasi atas pensiun dan
imbalan kerja dan beban imbalan kerja neto. Nilai
tercatat atas liabilitas diestimasi atas imbalan kerja
Kelompok Usaha pada tanggal 31 Desember 2012
adalah sebesar US$149.495.805 (31 Desember
2011:
US$68.585.122;
1
Januari
2011/
31 Desember 2010: US$47.756.361). Penjelasan
lebih rinci mengenai asumsi-asumsi yang
digunakan diungkapkan pada Catatan 30.e.
While the Group believes that its assumptions are

reasonable and appropriate, significant differences in
the Groups actual experiences or significant
changes in the Groups assumptions may materially
affect its estimated liabilities for pension and
employees benefits and net employees benefits
expense. The carrying amount of the Groups
estimated liabilities for employees benefits as of
December
31,
2012
was
US$149,495,805
(December 31, 2011: US$68,585,122; January 1,
2011/December 31, 2010: US$47,756,361). Further
details about the assumptions used are disclosed in
Note 30.e.
57
Annual Report 2012
361

DAN ENTITAS ANAK
KONSOLIDASIAN
3.

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

3.

Instrumen Keuangan
Financial Instruments
Ketika nilai wajar dari aset keuangan dan liabilitas

keuangan dicatat dalam laporan posisi keuangan
konsolidasian tidak dapat diambil dari pasar yang
aktif, maka nilai wajarnya ditentukan dengan
menggunakan teknik penilaian termasuk option
pricing model. Masukan untuk model tersebut
dapat diambil dari pasar yang dapat diobservasi,
tetapi apabila hal ini tidak dimungkinkan, sebuah
tingkat
pertimbangan
disyaratkan
dalam
menetapkan nilai wajar. Pertimbangan tersebut
mencakup penggunaan masukan seperti risiko
likuiditas, risiko kredit dan volatilitas. Perubahan
dalam asumsi mengenai faktor-faktor tersebut
dapat mempengaruhi nilai wajar dari instrumen
keuangan yang dilaporkan.
When the fair value of financial assets and financial

liabilities recorded in the consolidated statements of
financial position cannot be derived from active
markets, their fair value is determined using
valuation techniques including the option pricing
model. The inputs to these models are taken from
observable markets where possible, but where this is
not feasible, a degree of judgment is required in
establishing fair values. The judgments include
considerations of inputs such as liquidity risk, credit
risk and volatility. Changes in assumptions about
these factors could affect the reported fair value of
financial instruments.
Nilai tercatat dari aset keuangan yang diukur pada

nilai wajar dalam laporan posisi keuangan
konsolidasian pada tanggal 31 Desember 2012
adalah sebesar US$108.286.034 (31 Desember
1
Januari
2011/
2011:
US$27.276.060;
31 Desember 2010: nihil), sedangkan nilai tercatat
liabilitas keuangan yang diukur pada nilai wajar
dalam laporan posisi keuangan konsolidasian
pada tanggal 31 Desember 2012 adalah sebesar
US$87.115.630
(31
Desember
2011:
US$178.315.793; 1 Januari 2011/31 Desember
2010: US$188.620.017) (Catatan 6 dan 28).
The carrying amount of financial asset carried at fair

value in the consolidated statements of financial
position as of December 31, 2012 was
US$108,286,034
(December
31,
2011:
2010: nil), while the carrying amount of financial
liability carried at fair value in the consolidated
statements of financial position as of December 31,
2012 was US$87,115,630 (December 31, 2011:
2010: US$188,620,017) (Notes 6 and 28).
Ketidakpastian Kewajiban Perpajakan
Uncertain Tax Exposure
Pertimbangan
signifikan
dilakukan
dalam
menentukan provisi atas pajak penghasilan badan
maupun pajak lainnya atas transaksi tertentu.
Ketidakpastian timbul terkait dengan interpretasi
dari peraturan perpajakan yang kompleks dan
jumlah dan waktu dari penghasilan kena pajak di
masa depan. Dalam menentukan jumlah yang
harus diakui terkait dengan liabilitas pajak yang
tidak pasti, Kelompok Usaha menerapkan
pertimbangan yang sama yang akan mereka
gunakan dalam menentukan jumlah cadangan
yang harus diakui sesuai dengan PSAK No. 57,
Provisi,
Liabilitas
Kontinjensi
dan
Aset
Kontinjensi. Kelompok Usaha membuat analisa
untuk semua posisi pajak terkait dengan pajak
penghasilan untuk menentukan jika liabilitas pajak
untuk manfaat pajak yang belum diakui harus
diakui.
Significant judgment is involved in determining the

provision for corporate income tax and other taxes
on certain transactions. Uncertainties exist with
respect to the interpretation of complex tax
regulations and the amount and timing of future
taxable income. In determining the amount to be
recognized in respect of an uncertain tax liability, the
Group applies similar considerations as it would use
in determining the amount of a provision to be
recognized in accordance with PSAK No. 57,
Provisions, Contingent Liabilities and Contingent
Asset. The Group makes an analysis of all tax
positions related to income taxes to determine if a
tax liability for unrecognized tax benefit should be
recognized.
58
Annual Report 2012
362

DAN ENTITAS ANAK
KONSOLIDASIAN
3.

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

3.

JUDGMENT (continued)
Ketidakpastian Kewajiban Perpajakan (lanjutan)
Uncertain Tax Exposure (continued)
Kelompok Usaha mengakui liabilitas atas pajak

penghasilan badan berdasarkan estimasi apakah
akan terdapat tambahan pajak penghasilan badan.
Nilai tercatat neto utang pajak penghasilan badan
pada tanggal 31 Desember 2012 adalah sebesar
US$66.127.570 (31 Desember 2011: US$618.294;
1
Januari
2011/31
Desember
2010:
US$36.700.231).
Penjelasan
lebih
rinci
diungkapkan dalam Catatan 19.c.
The Group recognizes liabilities for expected

corporate income tax issues based on estimates of
whether additional corporate income tax will be due.
The net carrying amount of corporate income tax
payable as of December 31, 2012 was
US$66,127,570 (December 31, 2011: US$618,294;
January
1,
2011/December
31,
2010:
US$36,700,231). Further details are disclosed in
Note 19.c.
Realisasi dari Aset Pajak Tangguhan
Realizability of Deferred Income Tax Assets
Aset pajak tangguhan diakui atas seluruh rugi

fiskal yang belum digunakan sepanjang besar
kemungkinannya bahwa penghasilan kena pajak
akan tersedia sehingga rugi fiskal tersebut dapat
digunakan. Estimasi signifikan oleh manajemen
disyaratkan dalam menentukan jumlah aset pajak
tangguhan yang dapat diakui, berdasarkan saat
penggunaan dan tingkat penghasilan kena pajak
dan strategi perencanaan pajak masa depan.
Deferred tax assets are recognized for all unused tax

losses to the extent that it is probable that taxable
profit will be available against which the losses can
be utilized. Significant management estimates are
required to determine the amount of deferred tax
assets that can be recognized, based upon the likely
timing and the level of future taxable profits together
with future tax planning strategies.
Pada tanggal 31 Desember 2012, Kelompok

Usaha memiliki rugi fiskal yang dapat
dikompensasi
sebesar
US$2.101.638
(31 Desember 2011: US$1.441.594 dan
1 Januari 2011/31 Desember 2010 sebesar
US$225.100). Rugi fiskal tersebut terkait kepada
Entitas Anak yang masih mengalami kerugian,
belum daluwarsa dan tidak dapat digunakan untuk
disalinghapuskan dengan penghasilan kena pajak
entitas lain dalam Kelompok Usaha.
As of December 31, 2012, the Group has tax loss

carry forwards amounting to US$2,101,638
(December 31, 2011: US$1,441,594; January 1,
2011/December 31, 2010: US$ 225,100). These tax
losses relate to Subsidiaries which still incurred loss,
have not yet expired and may not be used to offset
taxable profits elsewhere in the Group.
59
Annual Report 2012
363

DAN ENTITAS ANAK
KONSOLIDASIAN
4.

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
KAS DAN SETARA KAS
4.

This account consists of:
Akun ini terdiri dari:
31 Des. 2012/
Dec. 31, 2012
Kas
(Rp767.051.410 pada tahun 2012,
Rp592.931.454 pada tahun 2011 dan
Rp608.762.106 pada tahun 2010)
Bank
Rekening Dolar Amerika Serikat
Entitas berelasi dengan Pemerintah
PT Bank Mandiri (Persero) Tbk
PT Bank Rakyat Indonesia
(Persero) Tbk
PT Bank Negara Indonesia
(Persero) Tbk
Pihak ketiga
Bank of America, N.A., Singapura
Citibank N.A., Jakarta
The Hongkong and Shanghai
Banking Corporation Ltd.,
Jakarta
ABN AMRO Bank N.V., Jakarta
Rekening Rupiah
(Rp288.825.581.158 pada tahun
2012, Rp56.237.710.702 pada
tahun 2011 dan
Rp160.287.896.209 pada tahun
2010)
(Persero) Tbk
(Rp122.432.053.373 pada tahun
2012, Rp47.670.808.809 pada
tahun 2011 dan
Rp8.743.800.331 pada tahun
2010)
(Persero) Tbk
(Rp158.008.159.045 pada tahun
2012, Rp47.006.072.986 pada
tahun 2011 dan
2010)
PT Bank Tabungan Negara
(Persero) Tbk
(Rp74.296.392)
Pihak ketiga
PT Bank Central AsiaTbk
(Rp3.450.042.035 pada tahun
2012, Rp1.084.037.934 pada
tahun 2011 dan
Rp13.860.744 pada tahun 2010)
Bank of America N.A., Jakarta
(Rp9.503.745.590 pada tahun 2012,
Rp16.449.716.619 pada tahun 2011 dan
Rp5.695.868.546 pada tahun 2010)
PT Bank CIMB Niaga Tbk
(Rp761.748.501 pada tahun 2012,
Rp1.750.852.627 pada tahun 2011
dan Rp321.214.007 pada tahun
2010)
PT Bank QNB Kesawan Tbk
(Rp542.164.044)
31 Des. 2011/
Dec. 31, 2011
79,323
65,387
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
67,708
112,813,133
47,094,550
59,320,447
74,914,920
3,980,066
4,032,223
43,065,729
5,423,004
1,272,815
58,173,712
136,891
72,476,481
9,993
82,574,196
9,993
113,996
49,321
114,055
49,362
114,117
49,394
29,868,209
6,201,777
12,661,019
5,257,037
17,827,594
972,506
16,340,037
5,183,731
1,521,207
7,683
Cash on hand
(Rp767,051,410 in 2012,
Rp592,931,454 in 2011 and
Rp608,762,106 in 2010)
Cash in banks
United States Dollar (US$) accounts
Government-related entities
(Persero) Tbk
(Persero) Tbk
Third parties
Bank of America N.A., Singapore
Banking Corporation Ltd.,
Jakarta,
Rupiah accounts
(Rp288,825,581,158 in
2012, Rp56,237,710,702 in
2011 and
Rp160,287,896,209 in
2010)
PT Bank Rakyat Inonesia
(Persero) Tbk
(Rp122,432,053,373 in 2012
Rp47,670,808,809 in 2011
and Rp8,743,800,331 in
2010)
PT Bank Negara Inonesia
(Persero) Tbk
(Rp158,008,159,045 in 2012,
Rp47,006,072,986 in 2011
dan Rp13,677,170,203 in
2010)
(Persero) Tbk
(Rp74,296,392)
Third parties
356,778
119,545
1,542
982,807
1,814,040
633,508
78,774
193,080
35,726
56,067
60
Annual Report 2012
PT Bank Central Asia Tbk

(Rp3,450,042,035 in 2012,
Rp1,084,037,934 in 2011
and Rp13,860,744 in 2010)
Bank of America N.A., Jakarta
(Rp9,503,745,590 in 2012,
Rp16,449,716,619 in 2011
and Rp5,695,868,546 in 2010)
(Rp761,748,501 in 2012,
Rp1,750,852,627 in 2011
and Rp321,214,007 in 2010)
PT Bank QNB Kesawan Tbk
(Rp542,164,044)
364

DAN ENTITAS ANAK
KONSOLIDASIAN
4.

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
KAS DAN SETARA KAS (lanjutan)
4.
31 Des. 2012/
Dec. 31, 2012
Rekening Yen Jepang (JPY)
(JPY966.717.657 pada tahun
2012, JPY468.123.964 pada
tahun 2011 dan JPY823.270
pada tahun 2010)
Pihak ketiga
(JPY293.299.812 pada tahun
2012, JPY293.327.112 pada tahun
2011 dan JPY220.196.770 pada
tahun 2010)
Rekening Dolar Singapura (SG$)
Pihak ketiga
(SG$212.728 pada tahun 2012,
SG$31.206 pada tahun 2011 dan
SG$16.250 pada tahun 2010)
Sub-total
CASH AND CASH EQUIVALENTS (continued)
31 Des. 2011/
Dec. 31, 2011
11,193,730
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
6,030,168
3,396,151
3,778,511
10,099
2,701,090

(JPY293,299,812 in 2012,
JPY293,327,112 in 2011 and
JPY220,196,770 in 2010)
173,945
24,000
12,616
Singapore Dollar (SG$) accounts

Third party
(SG$212,728 in 2012,
SG$31,206 in 2011 and,
SG$16,250 in 2010)
364,382,902
157,749,400
171,089,073
Sub-total
____________
Setara kas - Deposito berjangka yang tidak

PT Bank Negara Indonesia (Persero) Tbk
433,017,062
347,800,000
309,100,000
PT Bank Rakyat Indonesia (Persero) Tbk

378,500,000
-
314,000,000
-
307,500,000
19,000,000
Rekening Rupiah
(Persero) Tbk
(Rp1.666.500.000.000 pada tahun
2012, Rp768.000.000.000 pada
tahun 2011 dan
Rp417.000.000.000 pada tahun
2010)
(Rp1.138.102.480.000 pada tahun
2012,Rp1.278.602.493.602
pada tahun 2011 dan
Rp2.289.969.480.000 pada tahun
2010)
(Persero) Tbk
(Rp675.000.000.000 pada tahun
2012,Rp507.000.000.000
pada tahun 2011 dan
Rp746.800.000.000 pada tahun
2010)
(Persero) Tbk
(Rp302.000.000.000 pada tahun
2012,Rp364.000.000.000
pada tahun 2011 dan
Rp356.000.000.000 pada tahun
2010)
PT Bank Mandiri Syariah
(Rp2.000.000.000)
Japanese Yen (JPY) accounts

Government-related entity
(JPY966,717,657 in 2012,
JPY468,123,964 in
2011 and JPY823,270
in 2010)
Third party
Cash equivalents - Unrestricted

time deposits
(Persero) Tbk
(Persero) Tbk
Rupiah accounts
172,337,125
117,694,155
69,803,516
84,693,427
141,001,599
55,910,895
46,379,713

(Persero) Tbk
(Rp1,666,500,000,000 in 2012,
Rp768,000,000,000 in 2011
and Rp417,000,000,000 in
2010)
254,695,749

(Rp1,138,102,480,000 in 2012
Rp1,278,602,493,602 in 2011
and Rp2,289,969,480,000 in
2010)
83,060,839

(Persero) Tbk
(Rp675,000,000,000 in 2012,
Rp 507,000,000,000 in 2011
and Rp746,800,000,000 in
2010)
31,230,610
40,141,156
39,595,150
206,825
61
Annual Report 2012

(Persero) Tbk
(Rp302,000,000,000 in 2012,
Rp364,000,000,000 in 2011
and Rp356,000,000,000 in
2010)
(Rp2,000,000,000)
365

DAN ENTITAS ANAK
KONSOLIDASIAN
4.

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
KAS DAN SETARA KAS (lanjutan)
4.
31 Des. 2011/
Dec. 31, 2011
31 Des. 2012/
Dec. 31, 2012
Pihak ketiga
PT Bank Tabungan Pensiunan
Nasional Tbk
(Rp2.000.000.000)
(Rp 2.275.000.000)
Sub-total
Total kas dan setara kas
253,031
1,202,996,121
983,547,077
1,059,584,482
1,567,458,346
1,141,361,864
1,230,741,263
31 Des. 2012/
Dec. 31, 2012
5.
31 Des. 2011/
Dec. 31, 2011
4.00% - 7.25%
0.12% - 2.15%
5.
6.05% - 7.00%
0.12% - 4.00%
Rupiah account
US Dollar account
RESTRICTED CASH
31 Des. 2011/
Dec. 31, 2011
31 Des. 2012/
Dec. 31, 2012
Total kas yang dibatasi

penggunaannya
Sub-total
Total cash and cash equivalents
31 Des. 2010/
Dec. 31, 2010
6.00% - 7.25%
0.50% - 2.15%
Rekening Rupiah
(Rp61.457.400.623 pada tahun
2012, Rp9.707.597.638 pada
tahun 2011 dan
2010)
(Persero) Tbk
(Rp17.400.000.000)
Third parties
PT Bank Tabungan Pensiunan
Nasional Tbk
(Rp2,000,000,000)
(Rp2,275,000,000)
The annual interest rates of time deposits on the

following dates are as follows:
KAS YANG DIBATASI PENGGUNAANNYA

Pihak ketiga
Bank of America N.A., Singapura
The Hongkong and Shanghai Banking
Corporation Ltd
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
206,828
Tingkat bunga tahunan deposito berjangka pada

tanggal berikut adalah sebagai berikut:
Rekening Rupiah
CASH AND CASH EQUIVALENTS (continued)
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
2,212,655
322,467
339,541
349,461
1,282
1,522
724

Third parties
Bank of America N.A., Singapore
Banking Corporation Ltd.
Rupiah accounts
6,355,470
1,070,533
357,004
1,799,380
8,478,599
3,624,251
707,189
62
Annual Report 2012

(Rp61,457,400,623 in 2012,
Rp9,707,597,638 in 2011
and Rp3,209,827,137 in
2010)
(Persero) Tbk
(Rp17,400,000,000)
Total restricted cash
366

DAN ENTITAS ANAK
KONSOLIDASIAN
5.
KAS YANG
(lanjutan)
DIBATASI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
PENGGUNAANNYA
5.
RESTRICTED CASH (continued)
Pada tanggal 31 Desember 2012, 31 Desember

2011, dan 1 Januari 2011/31 Desember 2010, kas
yang dibatasi penggunaannya di PT Bank Mandiri
(Persero) Tbk, pihak berelasi, masing-masing
sebesar
US$331.505
(setara
dengan
Rp3.205.654.888), US$353.727 (setara dengan
Rp3.207.597.638) dan US$357.004 (setara
dengan Rp3.209.827.137), merupakan rekening
penampungan (escrow account) sehubungan
dengan perjanjian ganti rugi tanah dengan
PT Perkebunan Nusantara VII (Persero) terkait
dengan proyek transmisi Sumatera Selatan Jawa Barat (SSWJ) (Catatan 34.7).
As of December 31, 2012, December 31, 2011,

restricted cash in PT Bank Mandiri (Persero) Tbk,
a related party, amounting to US$331,505
(equivalent to Rp3,205,654,888), US$353,727
(equivalent to Rp3,207,597,638) and US$357,004
(equivalent to Rp3,209,827,137), respectively,
represents escrow account in accordance with the
land
compensation
agreement
with
PT Perkebunan Nusantara VII (Persero) in
relation to transmission network project of South
Sumatera - West Java (SSWJ) (Note 34.7).
Pada tanggal 19 Desember 2011, kas yang

dibatasi penggunaannya di PT Bank Mandiri
(Persero) Tbk sebesar US$2.212.655 merupakan
rekening
penampungan
(escrow
account)
sehubungan dengan perjanjian jual beli gas
antara Perusahaan dengan PT Nugas Trans
Energy (NTE).
As of December 19, 2011, the restricted cash in

PT Bank Mandiri (Persero) Tbk amounting to
US$2,212,655, represents escrow account in
accordance with the gas purchase agreement
between the Company and PT Nugas Trans
Energy (NTE).
Pada tanggal 31 Desember 2012, kas yang

dibatasi penggunaannya di PT Bank Mandiri
(Persero) Tbk sebesar US$6.023.965 (setara
dengan Rp58.251.745.735) dan PT Bank Negara
Indonesia (Persero) Tbk sebesar US$1.799.380
(setara dengan Rp17.400.000.000) merupakan
rekening
penampungan
(escrow
account)
PT Gagas Energi Indonesia (GEI) sehubungan
jaminan sebagai syarat penerbitan Standby Letter
of Credit (SBLC) dengan jangka waktu 1 tahun
kepada PT Sarana Indo Energi, PT Gresik Migas,
NTE dan PT Taruko Energy. Pada tanggal
31 Desember 2011, kas yang dibatasi
penggunaannya di PT Bank Mandiri (Persero) Tbk
sebesar
US$716.806
(setara
dengan
Rp6.500.000.000)
merupakan
rekening
penampungan (escrow account) sehubungan
jaminan sebagai syarat penerbitan SBLC dengan
jangka waktu 1 tahun kepada NTE.
As of December 31, 2012, the restricted cash in

PT Bank Mandiri (Persero) Tbk amounting to
US$6,023,965 (equivalent to Rp58,251,745,735)
and PT Bank Negara Indonesia (Persero) Tbk
amounted to US$1,799,380 (equivalent to
Rp17,400,000,000) represents escrow account in
PT Gagas Energi Indonesia (GEI) in accordance
with covered gas purchases by a Standby Letter
of Credit (SBLC) in 1 year from PT Sarana Indo
Energi,
PT
Gresik
Migas,
NTE
and
PT Taruko Energy. As of December 31, 2011, the
restricted cash in PT Bank Mandiri (Persero) Tbk
amounting to US$716,806 (equivalent to
Rp6,500,000,000),
respectively,
represents
escrow account in accordance with covered gas
purchases by a SBLC in 1 year from NTE.
Kas yang dibatasi penggunaannya di Bank of

America, N.A. sebesar US$322.467, US$339.541
dan US$349.461 masing-masing pada tanggal
31 Desember 2012, 31 Desember 2011 dan
1 Januari 2011/31 Desember 2010, ditujukan
untuk pembayaran wesel bayar Transgasindo.
The restricted cash in Bank of America, N.A.

amounting to US$322,467, US$339,541 and
US$349,461 as of December 31, 2012,
December
31,
2011
and
January
1,
2011/December 31, 2010, respectively, were
established for the repayment of Transgasindos
promissory notes.
63
Annual Report 2012
367

DAN ENTITAS ANAK
KONSOLIDASIAN
5.
KAS YANG
(lanjutan)
DIBATASI

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
PENGGUNAANNYA
5.
The restricted cash in The Hongkong and

Shanghai Banking Corporation Ltd. (HSBC)
amounting to US$1,282, US$1,522 and US$724
as of December 31, 2012, December 31, 2011
and January 1, 2011/December 31, 2010,
respectively, were established for the repayment
of Transgasindos long-term loan obtained from
HSBC on August 30, 2010 (Note18).
Kas
yang
dibatasi
penggunaannya
di
The
Hongkong
and
Shanghai
Banking
Corporation Ltd. (HSBC) sebesar US$1.282,
US$1.522
dan
US$724
masing-masing
pada tanggal 31 Desember 2012, 31 Desember
2011 dan 1 Januari 2011/31 Desember 2010,
yang ditujukan untuk pembayaran pinjaman
jangka panjang Transgasindo yang diperoleh dari
HSBC pada tanggal 30 Agustus 2010 (Catatan
18).
6.
INVESTASI JANGKA PENDEK
6.
Entitas bereleasi dengan

Pemerintah (Catatan 32)
PT Pertamina (Persero) Tbk
Obligasi Pemerintah - Indon 22
Lembaga Pembiayaan Ekspor
Indonesia (LPEI)
(Rp100.000.000.000 pada tahun
2012 dan Rp50.000.000.000
pada tahun 2011)
Surat Berharga Syariah Negara (SBSN)
PT Aneka Tambang (Persero) Tbk
(ANTAM)
(Rp25.000.000.000 pada
tahun 2012 dan 2011)
Perum Pegadaian
(Rp20.000.000.000 pada
tahun 2012 dan 2011)
Ditambah:
Kenaikan belum direalisasi
atas perubahan nilai wajar asset
keuangan tersedia untuk dijual
Diskon
Total
65,493,310
14,814,679
SHORT-TERM INVESTMENTS
Short-term investments represent investment in
debt instrument which is categorized as availablefor sale financial assets and which fair value is
determined by reference to published price
quotations in an active market, issued by the
following parties:
Investasi jangka pendek merupakan investasi

pada instrumen utang, yang dikategorikan
sebagai aset keuangan tersedia untuk dijual dan
nilai wajarnya ditentukan berdasarkan harga
kuotasian yang dipublikasikan dalam pasar aktif,
yang diterbitkan oleh pihak-pihak berikut:
31 Des. 2012/
Dec. 31, 2012
RESTRICTED CASH (continued)
31 Des. 2011/
Dec. 31, 2011
15,680,250
-
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
(Note 32)
PT Pertamina (Persero) Tbk
The Government Bond - Indon 22
10,341,262
4,000,000
5,513,895
-
2,585,315
2,756,948
2,068,252
2,205,550
8,914,204
69,012
1,119,417
-
Indonesia Eximbank
(Rp100,000,000,000 in 2012 and
Rp50,000,000,000 in 2011)
Surat Berharga Syariah Negara (SBSN)
PT Aneka Tambang (Persero)
Tbk (ANTAM)
(Rp25,000,000,000 in 2012
and 2011)
Perum Pegadaian
(Rp20,000,000,000 in 2012
and 2011)
Add:
Unrealized gain on increase in fair
value of available-for-sale
financial assets
Discount
108,286,034
27,276,060
Total
64
Annual Report 2012
368

DAN ENTITAS ANAK
KONSOLIDASIAN
6.

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
INVESTASI JANGKA PENDEK (lanjutan)
6.
SHORT-TERM INVESTMENTS (continued)
Perusahaan melakukan pembelian obligasi

PT Pertamina (Persero) (Pertamina) sebagai
berikut: (1) pada tanggal 22 Juni 2011 dengan
biaya perolehan sebesar US$1.000.000, dengan
nilai nominal US$100/lembar dan harga beli
sebesar US$100/lembar; (2) pada tanggal 27 Juni
2011
dengan
biaya
perolehan
sebesar
US$4.993.750 dengan nilai nominal sebesar
US$100/lembar
dan
harga
beli
sebesar
US$99/lembar; dan (3) pada tanggal 6 Oktober
2011
dengan
biaya
perolehan
sebesar
US$100/lembar
dan
harga
beli
sebesar
US$97/lembar. Tingkat bunga tahunan obligasi
tersebut adalah sebesar 5,25% dan berdasarkan
PT Pemeringkat Efek Indonesia (PT Pefindo),
peringkat dari obligasi tersebut adalah AAA.
The Company purchased PT Pertamina (Persero)

(Pertamina)s bonds as follows: (1) on June 22,
2011 with acquisition cost of US$1,000,000, with
nominal of US$100/bonds and purchase price of
US$100/bonds; (2) on June 27, 2011, with
acquisition cost of US$4,993,750, with nominal of
US$100/bonds
and
purchase
price
of
US$99/bonds; and (3) on October 6, 2011, with
acquisition cost of US$9,686,500, with nominal of
US$100/bonds
and purchase price of
US$97/bonds. The bonds earn annual interest rate
at 5.25% and based on PT Pemeringkat Efek
Indonesia (PT Pefindo), the bonds are rated at
AAA.
Pada bulan April 2012, Perusahaan melakukan

pembelian obligasi PT Pertamina (Persero)
(Pertamina) dengan biaya perolehan sebesar
US$100/lembar dan harga beli berkisar antara
US$99,414-US$99,675/lembar. Tingkat bunga
tahunan obligasi adalah sebesar 4,875% dan
berdasarkan PT Pefindo, peringkat dari obligasi
tersebut adalah AAA.
In April 2012, the Company purchased

PT Pertamina (Persero) (Pertamina)s bonds with
acquisition cost of US$49,813,060 with nominal of
US$100/bonds and purchase price is ranging from
US$99.414-US$99.675/bonds. The bonds earn
annual interest rate at 4.875% and based on
PT Pefindo, the bonds are rated at AAA.
Pada bulan April 2012, Perusahaan melakukan

pembelian obligasi INDON 22 dengan biaya
perolehan sebesar US$16.800.000 dengan nilai
nominal sebesar US$100/lembar dan harga beli
berkisar
antara
US$98,50-US$99,00/lembar.
Tingkat bunga tahunan obligasi adalah sebesar
3,75% dan berdasarkan PT Pefindo, peringkat
dari obligasi tersebut adalah AAA. Pada tanggal
14 September 2012, Perusahaan melakukan
penjualan obligasi INDON 22 dengan nominal
sebesar US$2.000.000 dengan total harga jual
sebesar US$2.130.000.
In April 2012, the Company purchased several

INDON 22 bonds with acquisition cost of
US$16,800,000 with nominal of US$100/bonds and
purchase price is ranging from US$98.50US$99.00/bonds. The bonds earn annual interest
rate is 3.75% and based on PT Pefindo, the bonds
are rated at AAA. On September 14, 2012, the
Company sold INDON 22 bonds with nominal
amount of US$2,000,000, with total proceeds of
US$2,130,000.

melakukan
pembelian
obligasi
Lembaga
Pembiayaan Ekspor Indonesia (LPEI) Seri C
dengan
biaya
perolehan
sebesar
Rp50.000.000.000 yang dibeli pada nilai nominal.
dari obligasi tersebut adalah AAA.
On December 7, 2011, the Company purchased

Indonesia Eximbanks Series C bonds, with
acquisition cost of Rp50,000,000,000 which is
purchased at nominal. The bonds earn annual
interest rate at 8.50% and based on PT Pefindo,
the bonds are rated at AAA.
65
Annual Report 2012
369

DAN ENTITAS ANAK
KONSOLIDASIAN
6.

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
INVESTASI JANGKA PENDEK (lanjutan)
6.
SHORT-TERM INVESTMENTS (continued)
Pada tanggal 20 November 2012, Perusahaan

melakukan
pembelian
obligasi
Lembaga
Pembiayaan Ekspor Indonesia (LPEI) Seri A
dengan
biaya
perolehan
sebesar
Rp50.000.000.000 yang dibeli pada nilai nominal.
dari obligasi tersebut adalah AAA.
On November 20, 2012, the Company purchased

Indonesia Eximbanks Series A bonds, with
acquisition cost of Rp50,000,000,000 which is
the bonds are rated at AAA.

melakukan pembelian obligasi Surat Berharga
Syariah Negara (SBSN) dengan biaya perolehan
sebesar US$4.000.000 dengan nilai nominal
sebesar US$100/lembar dan harga beli sebesar
US$100/lembar. Tingkat bunga tahunan obligasi
adalah sebesar 3,3% dan berdasarkan Moodys
Investors Service, peringkat dari obligasi tersebut
adalah Baa3/Stable.

Surat Berharga Syariah Negara (SBSN)s bonds
with acquisition cost of US$4,000,000 with
nominal amount of US$100/bonds and purchase
price of US$100/bonds. The bonds earn annual
interest rate at 3.3% and based on Moodys
Investors Services, the bonds are rated at
Baa3/Stable.

melakukan pembelian obligasi PT Aneka
Tambang (Persero) Tbk Seri B dengan biaya
perolehan sebesar Rp25.000.000.000 yang dibeli
pada nilai nominal. Tingkat bunga tahunan
obligasi adalah sebesar 9,05% dan berdasarkan
PT Pefindo, peringkat dari obligasi tersebut
adalah AA.

PT Aneka Tambang (Persero) Tbks Series B
bonds with acquisition cost of Rp25,000,000,000
which is purchased at nominal. The bonds earn
annual interest rate at 9.05% and based on
PT Pefindo, the bonds are rated at AA.
Pada tanggal 10 Oktober 2011, Perusahaan

melakukan pembelian obligasi Perusahaan Umum
Pegadaian Seri C dengan biaya perolehan
sebesar Rp20.000.000.000 yang dibeli pada nilai
nominal. Tingkat bunga tahunan obligasi adalah
sebesar 9,00% dan berdasarkan PT Pefindo,
peringkat dari obligasi tersebut adalah AA+.
On October 10, 2011, the Company purchased

Perusahaan Umum Pegadaians Series C bonds
with acquisition cost of Rp20,000,000,000 which is
the bonds are rated at AA+.
66
Annual Report 2012
370

DAN ENTITAS ANAK
KONSOLIDASIAN
7.

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
PIUTANG USAHA
7.
TRADE RECEIVABLES
This account consists of receivables from:
Akun ini terdiri dari piutang dari:
31 Des. 2012/
Dec. 31, 2012
31 Des. 2011/
Dec. 31, 2011
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010

(Catatan 32)
Distribusi gas
Transmisi gas
66,457,473
3,033,731
53,189,305
2,198,120
64,447,556
591,403
(Note 32)
Gas distribution
Gas transmission
Sub-total
69,491,204
55,387,425
65,038,959
Sub-total
Pihak ketiga
Distribusi gas
Transmisi gas
Sewa fiber optik
174,720,787
24,335,473
3,787,094
144,462,006
30,889,866
1,103,190
130,888,150
24,213,832
1,213,399
Third parties
Gas distribution
Gas transmission
Fiber optic rental
Sub-total
202,843,354
176,455,062
156,315,381
Total
Cadangan kerugian
penurunan nilai
272,334,558
231,842,487
221,354,340
(12,834,252)
(848,209)
(11,526,750)
(852,978)
(7,575,471)
(3,391,383)
Sub-total
(13,682,461)
(12,379,728)
(10,966,854)
Neto
258,652,097
Penurunan individual
Penurunan kolektif
219,462,759
210,387,486
Sub-total
Total
Allowance for
impairment losses
Individual impairment
Collective impairment
Sub-total
Net
A substantial portion of the receivables from

Government
related
entities
represents
receivables from PT Perusahaan Listrik Negara
(Persero) (PLN) and PT PLN Batam amounting
to
US$41,188,136
and
US$1,841,627
as of December 31, 2012, US$29,511,683 and
US$3,159,768 as of December 31, 2011 and
US$41,650,718 and US$3,005,329 as of
January
1,
2011/December
31,
2010,
respectively.
Piutang usaha dari entitas berelasi dengan

pemerintah
mayoritas
berasal
dari
piutang
PT Perusahaan Listrik Negara (Persero) (PLN) dan
PT
PLN
Batam
masing-masing
sebesar
US$41.188.136 dan US$1.841.627 pada tanggal
31
Desember
2012,
US$29.511.683
dan
US$3.159.768 pada tanggal 31 Desember 2011 dan
US$41.650.718 dan US$3.005.329 pada tanggal
1 Januari 2011/31 Desember 2010.
67
Annual Report 2012
371

DAN ENTITAS ANAK
KONSOLIDASIAN
7.

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
PIUTANG USAHA (lanjutan)
7. TRADE RECEIVABLES (continued)

The details of trade receivables based on
currencies are as follows:
Rincian piutang usaha berdasarkan mata uang

31 Des. 2012/
Dec. 31, 2012
Dolar Amerika Serikat
Rupiah
(Rp585.564.239.100 pada tahun
2012, Rp592.231.225.088 pada
tahun 2011 dan Rp629.925.373.101
pada tahun 2010)
Dolar Singapura (SG$2.500)
211,779,828
60,554,730
-
Total
272,334,558
Perubahan cadangan
kerugian
penurunan
31 Des. 2012/
Dec. 31, 2012
Saldo awal
Penyisihan untuk tahun
berjalan (Catatan 25)
Perubahan kurs
Pemulihan penyisihan
12,379,728
Saldo akhir
13,682,461
31 Des. 2011/
Dec. 31, 2011
166,532,472
151,290,629
United States Dollar
65,310,015
-
70,061,770
1,941
Rupiah
(Rp585,564,239,100 in 2012,
Rp592,231,225,088 in 2011
and Rp629,925,373,101 in 2010)
Singapore Dollar (SG$2,500)
231,842,487
221,354,340
Total
The changes in the allowance for impairment

losses are as follows:
nilai
31 Des. 2011/
Dec. 31, 2011
10,966,854
1,906,639
(603,906)
-
2,889,522
(1,476,648)
12,379,728
Lancar dan tidak mengalami

penurunan nilai
Telah jatuh tempo
> 1 bulan - 3 bulan
> 3 bulan - 6 bulan
> 6 bulan - 1 tahun
> 1 tahun
Total
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
8,772,643
1,725,031
469,180
-
Beginning balance
Provisions during the year
(Note 25)
Foreign exchange rate changes
Recovery of allowance
10,966,854
Ending balance
The aging analysis of trade receivables based on

invoice dates are as follows:
Analisa umur piutang usaha dihitung sejak tanggal

faktur adalah sebagai berikut:
31 Des. 2012/
Dec. 31, 2012
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
31 Des. 2011/
Dec. 31, 2011
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
245,978,448
202,423,710
196,472,770
7,429,612
1,894,126
2,083,446
14,948,926
11,345,713
894,308
1,872,699
15,306,057
7,230,000
4,151,023
5,150,017
8,350,530
Neither past due nor

impaired
Past due
> 1 month - 3 months
> 3 months - 6 months
> 6 months - 1 year
> 1 year
272,334,558
231,842,487
221,354,340
Total
68
Annual Report 2012
372


DAN ENTITAS ANAK
KONSOLIDASIAN
7.
8.

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
PIUTANG USAHA (lanjutan)
7.
TRADE RECEIVABLES (continued)
Piutang usaha tidak dijaminkan, tidak dikenakan

bunga
dan
umumnya
dikenakan
syarat
pembayaran selambat-lambatnya tanggal 20
bulan penagihan.
Trade receivables are unsecured, non-interest

bearing and are generally subject to the terms of
th
payment at no later than the 20 of the billing
month.
Manajemen Kelompok Usaha berpendapat bahwa

cadangan kerugian penurunan nilai adalah cukup
untuk menutupi kemungkinan atas tidak
tertagihnya piutang usaha.
The management of the Group believes that the

allowance for impairment losses is adequate to
cover any loss from uncollectible accounts.
PIUTANG LAIN-LAIN
8.
Akun ini terdiri:
31 Des. 2011/
Dec. 31, 2011
31 Des. 2012/
Dec. 31, 2012
Bunga
(US$1.422.283 dan Rp5.873.818.207
pada tahun 2012, US$372.294 dan
Rp6.447.644.744 pada tahun 2011
dan US$265.505 dan Rp5.625.038.904
pada tahun 2010)
Panjar dinas
(Rp12.728.026.141 pada tahun 2012,
Rp27.118.732.175 pada tahun 2011 dan
Rp16.583.498.896 pada tahun 2010)
OTHER RECEIVABLES
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
2,029,710
1,083,327
891,135
1,316,238
2,990,597
1,844,455
Pemerintah Republik Indonesia

Uang muka proyek
(Rp3.232.586.877 pada tahun 2012,
Rp1.156.766.920 pada tahun 2011 dan
Rp1.024.230.053 pada tahun 2010)
Piutang dari PT Kustodian Sentral
Efek Indonesia (KSEI)
(Rp13.945.008.251 pada tahun 2011 dan
Rp18.398.566.909 pada tahun 2010)
Lain-lain
(US$2.086, SG$5.527, dan
Rp13.373.045.970 pada tahun 2012,
US$2.086, SG$23.027 dan
US$928.001 dan
Rp2.913.656.746 pada tahun 2010)
1,301,663
1,301,663
1,301,663
334,290
127,566
113,917
1,537,826
2,046,332
1,389,558
158,258
1,256,356
Total
Cadangan kerugian penurunan nilai
(Rp14.197.800 dan US$1.301.663
pada tahun 2012, 2011 dan 2010)
6,371,459
7,199,237
7,453,858
(1,303,131)
(1,303,228)
(1,303,242)
5,068,328
5,896,009
6,150,616
Neto
69
Annual Report 2012
Interests
(US$1,422,283 and Rp5,873,818,207
in 2012, US$372,294 and
Rp6,447,644,744 in 2011 and
US$265,505 and Rp5,625,038,904
in 2010)
Advances to employees
(Rp12,728,026,141 in 2012,
Rp27,118,732,175 in 2011 and
Rp16,583,498,896 in 2010)
The Government of
the Republic of Indonesia
Advances for project
(Rp3,232,586,877 in 2012,
Rp1,156,766,920 in 2011 and
Rp1,024,230,053 in 2010)
Receivable from PT Kustodian Sentral
Efek Indonesia (KSEI)
(Rp13,945,008,251 in 2011 and
Rp18,398,566,909 in 2010)
Others
(US$2,086, SG$5,527 and
Rp13,373,045,970 in 2012, US$2,086,
SG$23,027 and Rp1,255,584,759
in 2011 and US$928,001,
SG$5,527 and Rp2,913,656,746
in 2010)
Total
Allowance for impairment losses
(Rp14,197,800 and US$1,301,663 in
2012, 2011 and 2010)
Net
373

DAN ENTITAS ANAK
KONSOLIDASIAN
8.

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
PIUTANG LAIN-LAIN (lanjutan)
8. OTHER RECEIVABLES (continued)

The changes in the allowance for impairment
losses are as follows:
Perubahan cadangan kerugian penurunan nilai

31 Des. 2012/
Dec. 31, 2012
31 Des. 2011/
Dec. 31, 2011
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
Saldo awal
Penyisihan untuk tahun
berjalan (Catatan 25)
Perubahan kurs
1,303,228
1,303,242
1,301,663
(97)
(14)
1,579
Beginning balance
(Note 25)
Foreign exchange rate changes
Saldo akhir
1,303,131
1,303,228
1,303,242
Ending balance
Piutang lain-lain dari Pemerintah Republik

Indonesia merupakan piutang sehubungan
dengan penerusan pinjaman yang dananya telah
tersedia di Bank Indonesia pada tahun 2003 untuk
ditarik oleh Perusahaan menunggu kelengkapan
administratif.
Other receivables from the Government of

the Republic of Indonesia represent receivables in
relation to the two-step loans which funds are
available for the Company in Bank Indonesia in
2003 to withdraw pending the completion of
certain administrative matters.
Berdasarkan
Surat
Menteri
Keuangan
No. S/219/PB.3/2009, tanggal 6 Maret 2009
bahwa saldo pada rekening khusus telah
ditransfer ke rekening Kas Negara dalam mata
uang Dolar Amerika Serikat pada tanggal
12 Februari 2009 dan rekening tersebut telah
ditutup pada tanggal 13 Februari 2009
sebagaimana dinyatakan dalam Surat Kepala
Bagian Jasa Perbankan Bank Indonesia tanggal
19 Februari 2009 No. 11/49/DASP/LIP, mengenai
pemindahan saldo rekening khusus dan
penutupan rekening khusus yang tidak aktif, maka
manajemen memutuskan untuk membentuk
penyisihan atas seluruh piutang dari Pemerintah
Republik Indonesia.
Based on the Ministry of Finance Letter

No. S/219/PB.3/2009, dated March 6, 2009 which
stated that the amount in the special account had
been transferred to State Office Funds account in
US Dollar currency on February 12, 2009 and
such
account
had
been
closed
on
February 13, 2009, as stated in Letter of Head of
Banking Services of Bank Indonesia dated
February 19, 2009 No. 11/49/DASP/LIP,
regarding the transfer of special account amount
and closing of inactive special account, the
management decided to provide full allowance for
these receivables from the Government of the
Republic of Indonesia.
Uang muka proyek merupakan pembayaran uang

muka atas perolehan tanah sehubungan dengan
proyek jaringan pipa transmisi Sumatera Selatan Jawa Barat (SSWJ).
Advances for project represent advances for land

acquisition related to transmission pipeline project
of South Sumatera - West Java (SSWJ).
Piutang lain-lain dari PT Kustodian Sentral Efek

Indonesia (KSEI) merupakan piutang Pajak
Penghasilan Pasal 23 atas dividen interim untuk
31 Desember 2011 dan 2010 yang dibayarkan
oleh Perusahaan ke KSEI masing-masing pada
tanggal 13 Desember 2011 dan 30 Desember
2010 (Catatan 10). Pada tanggal 3 Januari 2012
dan 6-10 Januari 2011, Perusahaan telah
menerima seluruh piutang tersebut.
Receivable from PT Kustodian Sentral Efek

Indonesia (KSEI) represents tax receivable of
Income Tax Article 23 of interim dividends which
has already paid by the Company to KSEI on
December 13, 2011 and December 30, 2010,
respectively (Note 10). January 3, 2012 and on
January 6-10, 2011, the Company has already
received such receivables.
70
Annual Report 2012
374

DAN ENTITAS ANAK
KONSOLIDASIAN
8.

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
PIUTANG LAIN-LAIN (lanjutan)
8. OTHER RECEIVABLES (continued)

allowance for impairment losses is adequate to
cover any loss from uncollectible accounts.

cadangan kerugian penurunan nilai adalah cukup
untuk menutupi kemungkinan kerugian atas tidak
tertagihnya piutang lain-lain.
9.
PERSEDIAAN
9. INVENTORIES
Akun ini terdiri:
31 Des. 2012/
Dec. 31, 2012
Suku cadang teknik
Penyisihan persediaan usang
Neto
31 Des. 2011/
Dec. 31, 2011
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
3,748,744
(1,303,679)
3,309,984
(1,335,662)
3,722,679
(1,157,880)
2,445,065
1,974,322
2,564,799
Saldo awal
Penyisihan untuk
tahun berjalan
Pemulihan penyisihan
1,335,662
Saldo akhir
1,303,679
Net
The changes in the allowance for inventory

obsolescence are as follows:
Perubahan penyisihan persediaan usang adalah

sebagai berikut:
31 Des. 2012/
Dec. 31, 2012
Technical spare parts

Allowance for inventory obsolescence
31 Des. 2011/
Dec. 31, 2011
1,157,880
24,326
(56,309)
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
1,148,619
231,078
(53,296)
1,335,662
9,745
(484)
1,157,880
Beginning balance
Recovery of allowance
Ending balance
Suku cadang teknik terdiri dari persediaan yang

berhubungan dengan distribusi dan transmisi gas
seperti pipa, meter gas dan suku cadang lainnya.
The technical spare parts represent inventories

that are related to gas distribution and
transmission such as pipes, gas meters and
other spare parts.
Persediaan
tidak
dijadikan
jaminan
dan
diasuransikan terhadap risiko kebakaran dan risiko
lainnya berdasarkan suatu paket polis tertentu
dengan
jumlah
pertanggungan
sebesar
Rp134.643.775.900.
Manajemen
Perusahaan
berpendapat
bahwa
jumlah
pertanggungan
tersebut cukup untuk menutupi kemungkinan
kerugian atas persediaan yang dipertanggungkan
tersebut.
Inventories are not pledged and are insured

against losses from fire and other risks under
blanket policies for Rp134,643,775,900. The
management of the Company believes that the
insurance coverage is adequate to cover
possible losses from such risks.
71
Annual Report 2012
375

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
10. UANG MUKA
10. ADVANCES
This account consists of advances for:
Akun ini terdiri dari uang muka untuk:
31 Des. 2011/
Dec. 31, 2011
31 Des. 2012/
Dec. 31, 2012
Pembelian gas bumi (Take-or-Pay)
(Catatan 32)
PT Pertamina EP
PT Pertamina Hulu Energi
Pihak ketiga
ConcocoPhilips (Grissik) Ltd.
Pembelian barang dan jasa
Dikurangi bagian jangka panjang:
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
76,696,271
102,598
76,696,271
-
76,696,271
-
54,109,588
7,447,902
73,567,693
2,655,058
97,746,068
1,390,473
Purchase of natural gas (Take-or-Pay)

(Note 32)
PT Pertamina EP
Third party
ConocoPhillips (Grissik) Ltd.
Purchase of goods and service
Less non-current portion:
Purchase of natural gas
(Take-or-Pay)
Purchase of goods and services

(103,751,065)
(7,171,077)
(78,805,132)
(2,270,407)
(119,338,479)
(234,845)
Sub-total
(110,922,142)
(81,075,539)
(119,573,324)
27,157,392
71,458,832
55,103,860
276,825
384,651
1,155,628
29,056,582
27,499,109
543,645
836,958
284,754
Current maturities of:

Purchase of natural gas (Take-or-Pay)
(Rp2,676,897,750 in 2012,
Rp3,487,997,200 in 2011 and
Rp10,390,251,761 in 2010)
Interim dividends
(Rp263,485,084,590
in 2011 and Rp247,244,488,099
in 2010)
Others
(Rp5,257,051,796 in 2012,
Rp7,589,559,423 in 2011 and
Rp2,560,228,809 in 2010)
27,977,862
101,737,023
84,043,351
Total
Bagian jangka pendek:

(Rp2.676.897.750 pada tahun 2012,
Rp10.390.251.761 pada tahun 2010)
Dividen interim
(Rp263.485.084.590 pada tahun
2011 dan Rp247.244.488.099
pada tahun 2010)
Lain-lain
(Rp5.257.051.796 pada tahun 2012,
Rp2.560.228.809 pada tahun 2010)
Total
Sub-total
Uang muka pembelian gas bumi berdasarkan

kesepakatan
Make-Up Gas
terdiri dari
pembayaran untuk selisih jumlah gas yang
dialirkan dengan jumlah kuantitas pembelian gas
bumi minimum seperti yang tertera dalam
Perjanjian Jual Beli Gas (Catatan 34). Uang muka
tersebut akan dikreditkan dengan kelebihan
kuantitas gas yang dialirkan dengan jumlah
kuantitas pembelian gas bumi minimum yang
terjadi setelahnya.
The advances for purchase of natural gas under

the Make-Up Gas arrangements pertain to the
payments for the difference between the delivered
quantity and the minimum purchase quantity of
natural gas as stated in the Gas Sale and
Purchase Agreements (Note 34). Such advances
will be applied against future deliveries of
quantities over the minimum specified purchase
quantities of natural gas.
Uang muka pembelian barang merupakan

pembayaran atas pengadaan Metering Regulating
System (MRS), pipa baja, pilot dan ball valve
kepada pihak ketiga.
Advance for purchase of goods represents

payment for Metering Regulating System (MRS)
procurement, steel pipe, pilot and ball valve to the
third parties.
72
Annual Report 2012
376

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
10. UANG MUKA (lanjutan)
10. ADVANCES (continued)
Berdasarkan Surat Keputusan Direksi tanggal

8 November 2011, Perusahaan memutuskan
untuk membagikan dividen interim sebesar
Rp10,87 per saham atau seluruhnya sebesar
Rp263.485.084.590. Dividen interim ini akan
diperhitungkan dalam penetapan dividen final
dalam Rapat Umum Pemegang Saham Tahunan
Perseroan
tahun
2011.
Pada
tanggal
13 Desember 2011, dividen interim ini telah
didistribusikan ke dalam rekening Perusahaan
Efek dan/atau Bank Kustodian.
Based on Directors Decision Letter dated

November 8, 2011, the Company decided to
distribute interim dividends amounting to Rp10.87
per share or totaling Rp263,485,084,590. These
interim dividends will be considered in the
determination of final dividends in the Companys
Annual General Shareholders Meeting for year
2011. On December 13, 2011, these interim
dividends had been distributed to Securities
Companys account and/or Custodian Bank.
Berdasarkan Surat Keputusan Direksi tanggal

6 Desember 2010, Perusahaan memutuskan
untuk membagikan dividen
interim sebesar
Rp10,20 per saham atau seluruhnya sebesar
Rp247.244.488.099. Dividen interim
ini akan
diperhitungkan dalam penetapan dividen final
dalam Rapat Umum Pemegang Saham Tahunan
Perseroan
tahun
2010.
Pada
tanggal
28 dan 30 Desember 2010, dividen interim ini
telah
didistribusikan
ke
dalam
rekening
Perusahaan Efek dan/atau Bank Kustodian.
Based on Directors Decision Letter dated

December 6, 2010, the Company decided to
distribute interim dividends amounting to Rp10.20
per share or totaling Rp247,244,488,099. These
interim dividends will be considered in the
determination of final dividends in the Companys
Annual General Shareholders Meeting for year
2010. On December 28 and 30, 2010, these
interim dividends had been distributed to
Securities Companys account and/or Custodian
Bank.
Manajemen berpendapat bahwa seluruh uang

muka tersebut dapat dipulihkan.
The management believes that all of such

advances can be recovered.
11. BEBAN DIBAYAR DI MUKA
11. PREPAID EXPENSES

31 Des. 2012/
Dec. 31, 2012
31 Des. 2011/
Dec. 31, 2011
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
Asuransi
Sewa
Komunikasi
Lain-lain
4,818,770
375,681
159,795
97,460
3,488,287
1,642,863
92,349
43,967
4,839,809
892,368
93,805
33,416
Total
5,451,706
5,267,466
5,859,398
73
Annual Report 2012
Insurance
Rent
Communication
Others
Total
377


DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
12. PENYERTAAN SAHAM
12. INVESTMENT IN SHARES OF STOCK

31 Des. 2012/Dec. 31, 2012

Persentase
kepemilikan/
Percentage
of ownership
Perusahaan/The Company
Metode ekuitas/Equity method
PT Nusantara Regas (Catatan 32/Note 32)
PT Gas Energy Jambi (Catatan 32/Note 32)
40.00%
40.00%
Metode biaya perolehan/Cost method

PT Banten Gas Synergi
Nilai tercatat
1 Des. 2012/
Carrying amount
Dec. 1, 2012
Penambahan/
Additions
44,997,736
-
12,228,398
-
0.14%
Sub-total/Sub-total
Entitas Anak-PGASSOL/The Subsidiary-PGASSOL
PT Promatcon Tepatguna
Nilai tercatat
31 Des. 2012/
Carrying amount
Dec. 31, 2012
8,328,948
-
65,555,082
2,718
2,718
45,000,454
12,228,398
8,328,948
65,557,800
40.00%
Total/Total
Bagian laba
(rugi)/
Share of
profit (loss)
5,023
389,648
394,671
45,000,454
12,233,421
8,718,596
65,952,471
31 Des. 2011/Dec. 31, 2011 (Disajikan Kembali - Catatan 2r/As Restated - Note 2r)
Persentase
kepemilikan/
Percentage
of ownership
40.00%

Nilai tercatat
1 Jan. 2011/
Carrying amount
Jan. 1, 2011
Penambahan/
Additions
21,488,136
24,202,420
1.00%
Total/Total
2,718
21,490,854
24,202,420
Bagian laba
(rugi)/
Share of
profit (loss)
Nilai tercatat
31 Des. 2011/
Carrying amount
Dec. 31, 2011
(692,820)
(692,820)
44,997,736
2,718
45,000,454
1 Jan. 2011/31 Des. 2010/Jan. 1, 2011/Dec. 31, 2010

(Disajikan Kembali - Catatan 2r/As Restated - Note 2r)
Persentase
kepemilikan/
Percentage
of ownership
Nilai tercatat
1 Jan. 2010/
Carrying amount
Jan. 1, 2010
Penambahan/
Additions
40.00%
21,727,322
1.00%
2,718
2,718
21,727,322
Total/Total
Bagian laba
(rugi)/
Share of
profit (loss)
Nilai tercatat
31 Des. 2010/
Carrying amount
Dec. 31, 2010
(239,186)
(239,186)
21,488,136
2,718
21,490,854
The following table illustrates summarized financial

information of the Groups investments in
associates:
Tabel berikut menyajikan informasi keuangan atas

investasi Kelompok Usaha pada entitas asosiasi:
31 Des. 2012/ Dec. 31, 2012

Bagian atas pendapatan neto dan
laba (rugi) Entitas Asosiasi/
Share of the Associates net revenues
and profit (loss)
Laporan posisi keuangan Entitas Asosiasi/

The Associates statement of financial position
Aset lancar/
Current
assets
Aset
tidak lancar/
Non-current
assets
Liabilitas
jangka pendek/
Current
liabilities
Liabilitas
jangka panjang/
Non-current
liabilities
Ekuitas/
Equity
Pendapatan
neto/
Net
revenues
Laba
(rugi)/
Profit (loss)
_________
PT Nusantara Regas
PT Gas Energi Jambi
PT Promatcon Tepatguna
194,393,120
2,866
2,086,530
81,236,608
48,325
9,806
98,431,715
733,554
1,138,703
11,548,919
-
165,649,094
(682,363)
957,633
616,054,812
1,633,244
8,328,948
(92,454)
389,648
Total/Total
196,482,516
81,294,739
100,303,972
11,548,919
165,924,364
617,688,056
8,626,142
74
Annual Report 2012
378

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
12. PENYERTAAN SAHAM (lanjutan)
12. INVESTMENT
(continued)
IN
SHARES
OF
STOCK
31 Des. 2011/ Dec. 31, 2011 (Disajikan Kembali - Catatan 2r/As Restated - Note 2r)
and profit (loss)

Aset lancar/
Current
assets
Aset
tidak lancar/
Non-current
assets
Liabilitas
jangka pendek/
Current
liabilities
Liabilitas
jangka panjang/
Non-current
liabilities
Ekuitas/
Equity
Pendapatan
neto/
Net
revenues
Laba
(rugi)/
Profit (loss)
PT Nusantara Regas
PT Gas Energi Jambi
75,221,581
1,222
55,372,650
20,613
16,324,976
274,630
13,527
-
114,255,728
(252,795)
(692,820)
(39,545)
Total/Total
75,222,803
55,393,263
16,599,606
13,527
114,002,933
(732,365)
1 Jan. 2011/31 Des. 2010/ Jan. 1, 2011/Dec. 31, 2010 (Disajikan Kembali - Catatan 2r/As Restated - Note 2r)
and profit (loss)

Aset lancar/
Current
assets
Aset
tidak lancar/
Non-current
assets
Liabilitas
jangka pendek/
Current
liabilities
Liabilitas
jangka panjang/
Non-current
liabilities
Ekuitas/
Equity
Pendapatan
neto/
Net
revenues
Laba
(rugi)/
Profit (loss)
PT Nusantara Regas
PT Gas Energi Jambi
51,176,953
1,234
4,852,206
20,790
1,052,054
238,384
54,977,105
(216,360)
(239,186)
(38,191)
Total/Total
51,178,187
4,872,996
1,290,438
54,760,745
(277,377)
Pada tanggal 14 April 2010, Perusahaan dan

PT Pertamina (Persero) telah menandatangani
Akta Pendirian PT Nusantara Regas, Joint Venture
Company Floating Storage and Regasification
Terminal (FSRT) gas alam cair (LNG) di Jawa
Barat. Penandatanganan ini merupakan kelanjutan
dari Perjanjian Pemegang Saham Pembentukan
Perusahaan Joint Venture LNG FSRT yang telah
ditandatangani pada tanggal 4 Februari 2010
(Catatan 34.8). Berdasarkan Akta Pendirian
Perseroan Terbatas PT Nusantara Regas, maka
pada tanggal 6 Mei 2010, Perusahaan melakukan
penyetoran investasi sebesar Rp200.000.000.000
(setara
dengan
US$21.727.322)
yang
mencerminkan persentase kepemilikan sebesar
40%. PT Nusantara Regas bergerak dalam bidang
pengelolaan dan pengembangan fasilitas FSRT
termasuk pembelian LNG dan pemasaran atas
hasil pengelolaan fasilitas FSRT.
On April 14, 2010, the Company and PT Pertamina

(Persero) signed the Deed of Establishment of
PT Nusantara Regas, a Joint Venture of Liquified
Natural Gas (LNG) Floating Storage and
Regasification Terminal (FSRT) in West Java. The
signing is a continuation of the Shareholders
Agreement Establishment for a Joint Venture of
LNG FSRT on February 4, 2010 (Note 34.8).
Based on the Deed of Establishment of
PT Nusantara Regas on May 6, 2010, the
Company paid the investment amounting to
Rp200,000,000,000 (equivalent to US$21,727,322)
which reflect the ownership interest of 40%.
PT Nusantara Regas is engaged in the
management and development of FSRT facilities
including purchase of LNG and marketing of
products arising from the operations of FSRT
facilities.
Perusahaan melakukan penyetoran investasi

tambahan pada tanggal 27 Desember 2011
dan 10 Mei 2012 masing-masing sebesar
Rp220.000.000.000
(setara
dengan
US$24.202.420) dan Rp113.076.000.000 (setara
dengan US$12.228.398), di mana setelah
penyetoran tersebut, persentase kepemilikan
Perusahaan tetap sebesar 40%.
The Company made additional investments on

December 27, 2011 and May 10, 2012 amounting
to
Rp220,000,000,000
(equivalent
to
US$24,202,420)
and
Rp113,076,000,000
(equivalent to US$12,228,398), respectively, after
such contribution, the Company maintains
ownership interest of 40%.
75
Annual Report 2012
379


DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
12. PENYERTAAN SAHAM (lanjutan)
12. INVESTMENT
(continued)
IN
SHARES
OF
STOCK
Pada tahun 2004, Perusahaan melakukan

penyertaan saham pada PT Gas Energi Jambi
yang bergerak dalam bidang transportasi dan
distribusi gas bumi, dengan investasi sebesar
Rp1.000.000.000 (setara dengan US$111.452)
yang merupakan persentase kepemilikan sebesar
40%. Pada tanggal 31 Desember 2012,
31
Desember
2011
dan
1
Januari
2011/31 Desember 2010, nilai tercatat dari
investasi adalah nihil sejalan dengan defisiensi
modal yang dialami PT Gas Energi Jambi.
In 2004, the Company has invested in shares of

stock of PT Gas Energi Jambi, which is engaged in
transportation and distribution of natural gas, with
investment
amounting
to
Rp1,000,000,000
(equivalent
to
US$111,452)
which
represents 40% ownership interest. As of
December 31, 2012, December 31, 2011 and
January 1, 2011/December 31, 2010, the carrying
value of the investment is nil in line with capital
deficiency incurred in PT Gas Energi Jambi.
Perusahaan melakukan penyertaan saham pada

PT Banten Gas Synergi yang bergerak dalam
bidang transportasi dan distribusi gas bumi,
dengan harga perolehan sebesar Rp25.000.000
(setara dengan US$2.718) yang merupakan
persentase kepemilikan sebesar 1%. Pada tanggal
14 November 2012, kepemilikan Perusahaan
berubah menjadi 0,14% dikarenakan adanya
penambahan setoran modal di PT Banten Gas
Synergi.
The Company has invested in shares of stock of

PT Banten Gas Synergi, which is engaged in
transportation and distribution of natural gas, with
acquisition cost amounting to Rp25,000,000
(equivalent to US$2,718) which represents 1%
ownership interest. On November 14, 2012, the
Companys ownership interest was changed to
0.14% due to there was an additional of shares
issuance in PT Banten Gas Synergi.
PGASSOL melakukan penyertaan saham pada

Kerja Sama Operasi (KSO) PT Promatcon
Tepatguna untuk pekerjaan EPC Upgrading
Stasiun Muara Bekasi, dengan harga perolehan
sebesar Rp47.578.400 yang mencerminkan
persentase kepemilikan sebesar 40%.
PGASSOL has invested in shares of stock in Joint

Operation (JO) of PT Promatcon Tepatguna, for
the engagement of EPC Upgrading Muara Bekasi
Station, with acquisition cost of Rp47,578,400
which represents 40% ownership interest.
13. ASET TETAP
13. FIXED ASSETS


31 Des. 2012/Dec. 31, 2012
Saldo Awal/
Beginning
Balances
Penambahan/
Reklasifikasi/
Additions /
Reclassifications
Penyesuaian/
Pengurangan/
Reklasifikasi/
Adjustments/
Deductions/
Reclassifications
Saldo Akhir/
Ending
Balances
Harga perolehan
Kepemilikan langsung
Tanah
Mesin dan peralatan
Kendaraan bermotor
Peralatan kantor
57,734,779
114,765,535
2,439,313,774
3,038,312
9,837,149
6,356,822
771,577
7,478,155
68,446,662
587,117
818,334
4,254,300
103,188
678,104
5,011,615
(1,076)
(106,393)
7,858
58,609,544
122,921,794
2,512,772,051
3,624,353
10,549,090
10,618,980
At cost
Direct ownership
Land
Vehicles
Office equipment
Aset dalam penyelesaian
183,324,631
58,479,372
(6,421,697)
235,382,306
Construction in progress
15,458,332
21,943,157
(14,449,249)
22,952,240
Uninstalled assets
1,745,636
Joint venture assets

Land
2,979,175,994
Total

Aset kerjasama operasi
Tanah
Total
1,745,636
2,831,574,970
162,778,674
(15,177,650)
____________
76
____________
Annual Report 2012
380

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
13. ASET TETAP (lanjutan)
13. FIXED ASSETS (continued)

31 Des. 2012/Dec. 31, 2012
Saldo Awal/
Beginning
Balances
Akumulasi penyusutan
Mesin dan peralatan
Kendaraan bermotor
Peralatan kantor
30,521,603
1,050,720,948
2,387,477
7,183,138
3,263,901
Penambahan/
Reklasifikasi/
Additions /
Reclassifications
Penyesuaian/
Pengurangan/
Reklasifikasi/
Adjustments/
Deductions/
Reclassifications
6,548,466
176,072,204
356,299
1,591,327
2,829,715
Saldo Akhir/
Ending
Balances
13,137
(291,714)
884
(129,805)
(188,774)
37,083,206
1,226,501,438
2,744,660
8,644,660
5,904,842
Accumulated depreciation
Direct ownership
Vehicles
Office equipment
3,965,488
2,006,744
(1,434,858)
4,537,374
Uninstalled assets
Total akumulasi penyusutan
1,098,042,555
189,404,755
(2,031,130)
1,285,416,180
Total accumulated depreciation
Total nilai tercatat
1,733,532,415
1,693,759,814
Total carrying amount
31 Des. 2011/Dec. 31, 2011 (Disajikan Kembali - Catatan 2r/As Restated - Note 2r)
Saldo Awal/
Beginning
Balances
Penambahan/
Reklasifikasi/
Additions/
Reclassifications
Penyesuaian/
Pengurangan/
Reklasifikasi/
Adjustments/
Deductions/
Reclassifications
Saldo Akhir/
Ending
Balances
Harga perolehan
Tanah
Mesin dan peralatan
Kendaraan bermotor
Peralatan kantor
61,516,462
113,519,720
2,404,226,564
3,249,115
9,759,000
4,537,271
3,723,821
4,077,227
37,949,588
110,260
1,660,481
2,375,979
(7,505,504)
(2,831,412)
(2,862,378)
(321,063)
(1,582,332)
(556,428)
57,734,779
114,765,535
2,439,313,774
3,038,312
9,837,149
6,356,822
At cost
Direct ownership
Land
Vehicles
Office equipment
132,666,407
52,639,181
(1,980,957)
183,324,631
15,849,822
9,222,479
(9,613,969)
15,458,332
Uninstalled assets

Tanah
Total
Mesin dan peralatan
Kendaraan bermotor
Peralatan kantor
1,745,636
1,745,636

Land
2,747,069,997
111,759,016
(27,254,043)
2,831,574,970
Total
24,089,196
869,339,664
2,435,833
7,306,600
2,866,358
6,411,327
181,610,534
259,021
1,669,550
1,168,518
21,080
(229,250)
(307,377)
(1,793,012)
(770,975)
30,521,603
1,050,720,948
2,387,477
7,183,138
3,263,901
Direct ownership
Vehicles
Office equipment
3,633,902
1,708,856
(1,377,270)
3,965,488
Uninstalled assets
909,671,553
192,827,806
(4,456,804)
1,098,042,555
1,733,532,415
1,837,398,444
77
Annual Report 2012
381


DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

1 Jan. 2011/31 Des. 2010/Jan. 1, 2011/Dec. 31, 2010
Saldo Awal/
Beginning
Balances
Penambahan/
Reklasifikasi/
Additions/
Reclassifications
Penyesuaian/
Pengurangan/
Reklasifikasi/
Adjustments/
Deductions/
Reclassifications
Saldo Akhir/
Ending
Balances
Harga perolehan
Tanah
Mesin dan peralatan
Kendaraan bermotor
Peralatan kantor
55,856,026
105,661,884
2,074,999,550
3,040,874
10,728,492
3,966,645
1,005,655
7,417,067
38,165,395
253,395
2,000,446
3,087,690
4,654,781
440,769
291,061,619
(45,154)
(2,969,938)
(2,517,064)
61,516,462
113,519,720
2,404,226,564
3,249,115
9,759,000
4,537,271
At cost
Direct ownership
Land
Vehicles
Office equipment
338,219,810
117,595,046
(323,148,449)
132,666,407
19,495,985
8,470,198
(12,116,361)
15,849,822
Uninstalled assets

Tanah
Total
Mesin dan peralatan
Kendaraan bermotor
Peralatan kantor
1,745,636
1,745,636

Land
2,613,714,902
177,994,892
(44,639,797)
2,747,069,997
Total
18,610,914
696,730,525
2,188,826
9,077,452
3,385,321
5,665,033
173,021,194
292,334
1,275,350
603,187
(186,751)
(412,055)
(45,327)
(3,046,202)
(1,122,150)
24,089,196
869,339,664
2,435,833
7,306,600
2,866,358
Direct ownership
Vehicles
Office equipment
3,123,950
1,598,835
(1,088,883)
3,633,902
Uninstalled assets
733,116,988
182,455,933
(5,901,368)
909,671,553
1,837,398,444
1,880,597,914
Penambahan aset dalam penyelesaian termasuk

kapitalisasi biaya pinjaman untuk tahun yang
berakhir pada tanggal 31 Desember 2012 sebesar
US$1.235.636 (31 Desember 2011: US$52.872;
1
Januari
2011/31
Desember
2010:
US$2.489.503).
The additions to construction in progress include

capitalized borrowing costs for the year ended
December 31, 2012 amounting to US$1,235,636
(December 31, 2011: US$52,872; January 1,
2011/December 31, 2010: US$2,489,503).
Penyusutan yang dibebankan pada usaha

masing-masing sebesar US$189.404.755 dan
US$192,827,806 untuk tahun yang berakhir pada
tanggal-tanggal 31 Desember 2012 dan 2011
(Catatan 24 dan 25).
Depreciation charged to operations amounted to

US$189,404,755 and US$192,827,806 for the
years ended December 31, 2012 and 2011,
respectively (Notes 24 and 25).
78
Annual Report 2012
382

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
Pada tahun 2010, berdasarkan hasil penelaahan

terhadap status penyelesaian, Transgasindo
menetapkan bahwa aset yang terkait proyek
stasiun Jabung gas booster dan proyek perbaikan
pipa bawah laut siap untuk digunakan, sehingga
Transgasindo
memindahkan
biaya
proyek
tersebut masing-masing sebesar US$47.770.573
(setara
dengan
Rp429.505.221.843)
dan
US$187.771.814
(setara
dengan
Rp1.688.256.379.674)
dari
aset
dalam
penyelesaian menjadi aset tetap. Jumlah ini
meliputi pipa transmisi, kompresor, prasarana
tanah, bangunan, mesin dan peralatan instalasi
dan peralatan kantor. Penyusutan aset dimulai
sejak aset tersebut menunjukan kinerja yang
konsisten, yaitu sejak November 2010 untuk pipa
dan Februari 2010 untuk kompresor.
In 2010, based on the review on the status of

completion, Transgasindo determined that the
assets related to the Jabung gas booster station
project and offshore pipeline repair project are
ready for its intended use, therefore, the
Company transferred the project cost of
such projects of US$47,770,573 (equivalent
to Rp429,505,221,843) and US$187,771,814
(equivalent to Rp1,688,256,379,674), respectively,
from construction in progress to fixed assets.
These amounts include transmission pipelines,
compressors, land improvement, buildings,
machineries and installation equipment and
furniture and fixtures. The depreciation of such
assets is determined to start upon the consistent
performance of such assets which is starting
November 2010 for pipelines and February 2010
for compressors.
Aset kerjasama operasi merupakan tanah milik

Perusahaan di Surabaya yang digunakan oleh
PT Citraagung Tirta Jatim untuk pembangunan
pusat perbelanjaan dan tanah milik Kantor Pusat
di Jakarta yang akan digunakan oleh PT Winatek
Sinergi Mitra Bersama untuk pembangunan pusat
perbelanjaan, fasilitas perparkiran dan fasilitas
pendukung lainnya (Catatan 34.6).
Joint venture assets represent the Companys

land in Surabaya which is used by PT Citraagung
Tirta Jatim for shopping centre development and
Head Offices land in Jakarta which is used by
PT Winatek
Sinergi
Mitra
Bersama
for
development of shopping center, parking facility
and other supporting facilities (Note 34.6).
Jangka waktu hak atas tanah (Hak Guna

Bangunan) yang dimiliki oleh Perusahaan akan
berakhir pada berbagai tanggal mulai tahun 2014
sampai tahun 2041 dan dapat diperpanjang.
The terms of the landrights (Hak Guna

Bangunan) owned by the Company will expire in
various dates from 2014 to 2041 and can be
extended.

perincian dari aset dalam penyelesaian terdiri dari:

details of construction in progress consist of:
31 Des. 2012/
Dec. 31, 2012
Perusahaan
Proyek jaringan pipa transmisi
Sumatera Selatan - Jawa Barat
(SSWJ)
Proyek Distribusi Jawa Barat (PDJB)
Proyek LNG Floating Storage and
Regasification Unit (FSRU)
Lain-lain
31 Des. 2011/
Dec. 31, 2011
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
111,178,001
50,882,512
77,348,050
70,751,911
53,572,109
59,404,149
43,611,740
25,155,737
9,799,928
15,756,106
4,250,915
10,811,934
The Company
Transmission pipelines
South Sumatera West Java (SSWJ) project
West Java Distribution Project (PDJB)
LNG Floating Storage and
Regasification Unit (FSRU) Project
Others
Entitas Anak
230,827,990
4,554,316
173,655,995
9,668,636
128,039,107
4,627,300
Subsidiaries
Total
235,382,306
183,324,631
132,666,407
Total
79
Annual Report 2012
383

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
Proyek Jaringan Pipa Transmisi Sumatera

Selatan - Jawa Barat (SSWJ)
Transmission Pipelines South Sumatera West Java (SSWJ) Project
Aset dalam penyelesaian dari Proyek SSWJ terdiri

dari:
Jalur Cilegon - Serpong sepanjang 75

km (CP3A dan CP3B);
Proyek Konsultan Manajemen (PMC)

terkait proyek jalur Cilegon - Serpong.
Construction in progress of SSWJ project consists

of:
Cilegon - Serpong Pipeline length 75

km (CP3A and CP3B);
Project
Management
Consultancy
(PMC) related to Cilegon - Serpong
Pipeline project.
Pada tanggal 31 Desember 2012, manajemen

Perusahaan
memperkirakan
persentase
penyelesaian proyek yang tersisa dalam aspek
keuangan adalah sebesar 75% (tidak diaudit)
(Catatan 41).
As of December 31, 2012, the Companys

management estimated the percentage of
completion in financial terms is 75% (unaudited)
(Note 41).
Proyek SSWJ Jalur Cilegon - Serpong tersebut

diatas diperkirakan akan diselesaikan pada tahun
2013.
The SSWJ Cilegon - Serpong pipeline project is

expected to be completed in 2013.
Proyek Distribusi Jawa Barat (PDJB)
Aset dalam penyelesaian dari PDJB terdiri dari

dua paket:
Construction in progress of PDJB consists of two

packages as follows:
a.
a.
Pembiayaan dari International Bank for

Reconstruction and Development (IBRD):
b.
Paket IFB 4 terkait dengan pembelian

mesin dan konstruksi untuk jaringan pipa
distribusi (EPC);
terkait paket IFB 4.
b.
Dibiayai oleh dana Perusahaan:
International Bank for Reconstruction and

Development (IBRD)s financing:
Package IFB 4 related to Engineering,

Procurement and Construction (EPC);
Project Management Consultancy (PMC)

related to package IFB 4.
The Companys own financing:
Paket 8B, 19, dan 23 terkait dengan

pekerjaan Konstruksi Jaringan Pipa
(PCC) Jakarta - Bogor ;
terkait paket 8B, 19 dan 23.
Package 8B, 19, and 23 related to

Pipeline Construction Contractor (PCC)
Jakarta - Bogor ;
Project Management Consultancy (PMC)
related to package 8B, 19 and 23.

Perusahaan
memperkirakan
persentase
penyelesaian PDJB untuk paket yang dibiayai oleh
IBRD dan dana Perusahaan dalam aspek
keuangan masing-masing sebesar 74% dan 76%
(tidak diaudit) (Catatan 41).

completion in financial terms of PDJB which is
financed by IBRD and funds of the Company
were 74% and 76% (unaudited), respectively
(Note 41).
Proyek tersebut di atas diperkirakan

diselesaikan dalam tahun 2013.
The above project is expected to be completed in

2013.
akan
80
Annual Report 2012
384

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
Proyek Pembangunan LNG Floating Storage

And Regasification Facilities (FSRF)
LNG Floating Storage And Regasification

Facilities Project (FSRF)
Proyek LNG FSRF Lampung terdiri dari:
LNG FSRF project consists of:
Pembangunan pipa offshore sepanjang

kurang lebih 21 km dari mooring system ke
landfall dan pipa onshore dengan panjang
kurang lebih 1 km dari landfall ke Fasilitas
Penerima Onshore (ORF) di Labuhan
Maringgai;
Construction of approximately offshore

pipeline length 21 km from mooring system to
landfall area and onshore pipeline with total
of length is 1 km from landfall area to
Onshore Receiving Facilities (ORF) in
Labuhan Maringgai;
Pembangunan Fasilitas Penerima Onshore

(ORF) di Labuhan Maringgai dengan
kapasitas 240 mmscfd;
Construction of Onshore Receiving Facilities

(ORF) in Labuhan Maringgai with capacity of
240 mmscfd;
Pembangunan Off-Take Station (OTS) di

Labuhan Maringgai dengan kapasitas 80
mmscfd.
Construction of Off-Take Station (OTS) in

Labuhan Maringgai with capacity of
80 mmscfd.
LNG FSRF ini merupakan fasilitas untuk

menunjang Floating Storage and Regasification
Unit (FSRU). FSRU adalah
sebuah vessel
dengan kapasitas penyimpanan 170.000 m3.
FSRU tersebut memiliki kapasitas send out rate
LNG sampai dengan 240 mmscfd dengan send
out pressure sebesar 1140 Psig. Proses transfer
LNG dari LNG carrier ke FSRU menggunakan
metode ship to ship transfer dengan kapasitas
tingkat muatan 5.000 m3 per jam. Pembangunan
FSRU ini dilengkapi dengan fasilitas penambat
FSRU (mooring system).
LNG FSRF is a facility to support Floating Storage

and Regasification Unit (FSRU). FSRU is a vessel
with storage capacity 170,000 m3. The FSRU will
have send out rate LNG up to 240 mmscfd with
send out pressure up to 1140 Psig. LNG transfer
system from LNG carrier to FSRU by ship to ship
transfer method with capacity of loading rate 5,000
m3 per hour. The construction of FSRU is
supported with mooring system facility.

Perusahaan
memperkirakan
persentase
penyelesaian proyek LNG dalam aspek keuangan
adalah sebesar 14,40% (tidak diaudit) (Catatan
41).

completion in financial terms of LNG project is
14.40% (unaudited) (Note 41).
Proyek tersebut di atas diperkirakan

diselesaikan dalam tahun 2014.
The above project is expected to be completed in

2014.
akan
As of December 31, 2012, fixed assets are covered

by insurance against losses from fire and other
risks under certain blanket policies for with sum
insured for onshore pipeline of US$50,000,000 for
any one accident or occurrence of sum insured
totaling US$886,614,062 and offshore pipeline of
US$336,463,804 for anyone accident or occurrence
and US$27,890,000 and Rp13,492,819,572,143 for
other assets.
Pada tanggal 31 Desember 2012, aset tetap

Perusahaan diasuransikan terhadap kerugian
akibat kebakaran dan risiko lain berdasarkan suatu
paket
polis
tertentu
dengan
total
nilai
pertanggungan untuk pipa onshore sebesar
US$50.000.000 untuk setiap kejadian kerugian
atas nilai pertanggungan sebesar US$886.614.062
dan pipa offshore sebesar US$336.463.804 untuk
setiap kejadian kerugian dan US$27.890.000 dan
Rp13.492.819.572.143 untuk aset lainnya.
81
Annual Report 2012
385

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
Aset tetap Entitas Anak diasuransikan terhadap

kerugian akibat kebakaran dan risiko lain
berdasarkan suatu paket polis tertentu dengan total
nilai pertanggungan untuk pipa onshore sebesar
US$10.000.000 dan pipa offshore sebesar
US$20.000.000 untuk setiap kejadian kerugian,
sebesar US$9.796.535 dan Rp12.831.337.502
untuk aset lainnya.
The Subsidiaries fixed assets are covered by

insurance against losses from fire and other risks
under certain blanket policies for with sum insured
for onshore pipeline of US$10,000,000 and offshore
pipeline of US$20,000,000 for any one accident or
occurrence, US$9,796,535 and Rp12,831,337,502
for other assets.
Manajemen
berpendapat
bahwa
nilai
pertanggungan tersebut cukup untuk menutupi
kemungkinan
kerugian
atas
aset
yang
dipertanggungkan.
The management believes that the sum insured are

adequate to cover possible losses from such risks.

jumlah harga perolehan aset tetap Kelompok
Usaha yang telah disusutkan penuh dan masih
digunakan dalam kegiatan operasional adalah
masing-masing
sebesar
US$89.423.517,
US$37.551.500 dan US$33.057.363.
As of December 31, 2012, December 31, 2011 and

January 1, 2011/December 31, 2010, the cost of
the Group's fixed assets which have been fully
depreciated and still used in the operational
activities
amounted
to
US$89,423,517,
US$37,551,500 and US$33,057,363, respectively.

2011 dan 1 Januari 2011/31 Desember 2010, nilai
wajar aset tetap Perusahaan masing-masing
adalah
sekitar
sebesar
US$7.263.449.002,
US$7.470.388.718 dan US$7.502.367.925.

January 1, 2011/December 31, 2010, the fair
values of
the Companys fixed assets
approximately amounted to US$7,263,449,002,
US$7,470,388,718
and
US$7,502,367,925,
respectively.
Berdasarkan penilaian manajemen Kelompok

Usaha,
tidak
ada
kejadian-kejadian
atau
perubahan-perubahan
keadaan
yang
mengindikasikan penurunan nilai aset tetap pada
tanggal 31 Desember 2012, 31 Desember 2011
dan 1 Januari 2011/31 Desember 2010.
Based on the assessment of the management of

the Group, there are no events or changes in
circumstances which may indicate impairment in
value of fixed assets as of December 31, 2012,
December
31,
2011
and
January
1,
2011/December 31, 2010.
14. ASET TAK BERWUJUD
14. INTANGIBLE ASSETS

31 Des. 2012/
Dec. 31, 2012
31 Des. 2011/
Dec. 31, 2011
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
Harga perolehan:
Biaya perpanjangan hak atas tanah
Piranti lunak komputer
1,612,407
1,592,007
1,454,863
-
1,255,884
-
Cost:
Land rights
Computer software
Sub-total
3,204,414
1,454,863
1,255,884
Sub-total
Akumulasi amortisasi:
Biaya perpanjangan hak atas tanah
Piranti lunak komputer
(250,293)
(66,333)
(225,067)
-
(126,224)
-
Accumulated amortization:
Land rights
Computer software
Sub-total
(316,626)
(225,067)
(126,224)
Sub-total
Total
2,887,788
1,229,796
1,129,660
Total
82
Annual Report 2012
386

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
15. UTANG USAHA
15. TRADE PAYABLES

31 Des. 2011/
Dec. 31, 2011
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
51,590,101
15,545,068
23,429,206
2,764,020
2,672,099
969,305
3,560,046
3,054,299
4,833,888
5,626,132
92,360,676
10,545,215
8,042,686
4,727,637
3,700,468
3,427,722
2,270,537
1,760,695
1,504,204
801,467
590,928
574,281
470,882
273,157
9,338,384
8,298,605
16,971,552
1,760,695
1,424,882
267,362
-
8,015,705
8,636,835
8,838,080
1,760,695
1,100,658
827,941
-
37,553
36,092
11,237
-
928,718
-
8,557,029
Third parties
PT Medco E&P Indonesia
PT Indogas Kriya Dwiguna
PT Bayu Buana Gemilang
Santos (Madura Offshore) Pty., Ltd.
PT Sadikun Niagamas Raya
PT Walinusa Energi
Kangean Energy Indonesia Ltd.
PT Taruko Energy
PT Sarana Indo Energi
PT Pertiwi Nusantara Resources
Lapindo Brantas, Inc.
PT Nugas Trans Energy
PT Granary Global Energy
(Rp64,704,101)
PT Niaga Gema Teknologi
PT Gresik Migas
Kodeco Energy Co., Ltd.
189,130,962
61,149,611
71,626,169
Total
31 Des. 2012/
Dec. 31, 2012
(Catatan 32)
PT Pertamina EP
West Java Madura Offshore
PT Nusantara Regas
PT Pertamina Gas
Pihak ketiga
PT Medco E&P Indonesia
PT Indogas Kriya Dwiguna
PT Bayu Buana Gemilang
Santos (Madura Offshore) Pty., Ltd.
PT Sadikun Niagamas Raya
PT Walinusa Energi
Kangean Energy Indonesia Ltd.
PT Taruko Energy
PT Sarana Indo Energi
PT Pertiwi Nusantara Resources
PT Nugas Trans Energy
PT Granary Global Energy
(Rp64.704.101)
PT Niaga Gema Teknologi
PT Gresik Migas
Kodeco Energy Co., Ltd.
Total
The aging analysis of trade payables based on

invoice dates are as follows:
Analisa umur utang usaha dihitung sejak tanggal

faktur adalah sebagai berikut:
31 Des. 2012/
Dec. 31, 2012
(Note 32)
PT Pertamina EP
PT Nusantara Regas
PT Pertamina Gas
31 Des. 2011/
Dec. 31, 2011
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
Sampai dengan 1 bulan

> 1 bulan - 3 bulan
> 3 bulan - 6 bulan
> 6 bulan - 1 tahun
> 1 tahun
80,065,821
107,301,449
1,763,692
59,385,963
2,953
1,760,695
54,317,324
15,548,150
1,760,695
Up to 1 month
> 1 month - 3 months
> 3 months - 6 months
> 6 months - 1 year
> 1 year
Total
189,130,962
61,149,611
71,626,169
Total
Utang usaha tidak dikenakan bunga dan umumnya

dibayar antara 10 sampai 30 hari sejak tanggal
faktur diterima.
Trade payables are non-interest bearing and are

normally settled within 10 to 30 days since invoice
were received.
Utang usaha atas pembelian gas bumi ke

Pertamina, telah dikurangi piutang usaha atas
penjualan gas ke Stasiun Pengisian Bahan Bakar
Gas (SPBG) milik Pertamina EP di Jakarta dan
piutang atas transportasi gas ke pelanggan tertentu
Pertamina masing-masing sebesar US$11.727,
US$17.741 dan US$815.197 pada tanggal
1 Januari 2011/31 Desember 2010 (Catatan 34.1).
The outstanding payable to Pertamina for the gas

purchases has been reduced by the trade
receivables totaling US$11,727, US$17,741 and
US$815,197 as of December 31, 2012,
December
31,
2011
and
January
1,
2011/December 31, 2010, respectively, relating to
the sale of gas to Pertamina EPs fuel gas filling
stations (SPBG) in Jakarta and gas transmission
to certain Pertaminas customers (Note 34.1).
83
Annual Report 2012
387

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
15. UTANG USAHA (lanjutan)
15. TRADE PAYABLES (continued)
Berdasarkan Agreement of Payment Settlement to

Gas Delivered from Kangean Energy Indonesia, Ltd.
(KEIL) to PT Perusahaan Gas Negara (Persero)
Tbk, tanggal 12 Februari 2009, Perusahaan setuju
untuk membayar gas yang telah dikirim oleh KEIL
untuk tahun pada tanggal 1 Januari 2008 sampai
dengan 31 Oktober 2008. Kondisi ini terjadi
disebabkan keterbatasan kapasitas pipa akibat
meledaknya East Java Gas Pipeline (EJGP) milik
Pertamina di Jawa Timur.
Based on Agreement of Payment Settlement to Gas

Delivered from Kangean Energy Indonesia, Ltd.
(KEIL) to PT Perusahaan Gas Negara (Persero)
Tbk, dated February 12, 2009, the Company agreed
to pay the gas delivered by KEIL for the year
January 1, 2008 until October 31, 2008. This
condition happened due to pipe capacity limitation
as a result of Pertaminas East Java Gas Pipeline
(EJGP) explosion in East Java.
16. UTANG LAIN-LAIN
16. OTHER PAYABLES

31 Des. 2012/
Dec. 32, 2012
Jaminan gas
(US$7.668.793 dan Rp37.044.950.263
pada tahun 2012, US$4.626.781 dan
dan Rp33.194.576.543 pada tahun 2011
dan US$3.873.001 dan Rp29.798.824.726
pada tahun 2010
Liabilitas kepada kontraktor
(US$2.128.386 dan Rp42.271.302.332
Pada tahun 2012, US$5.148.724 dan
US$3.195.012, JPY9.453.731 dan
Rp20.294.812.557 pada tahun 2010)
(Rp29.535.588.316
US$4.501.929 dan Rp10.989.983.865
pada tahun 2010)
PT Riau Andalan Pulp and Paper
Jaminan masa konstruksi proyek
Pendapatan diterima di muka serat optik
(Rp266.301.000 pada tahun 2012,
Rp974.991.360 pada tahun 2011
dan Rp9.581.028.740 pada tahun 2010)
Dana program tanggung jawab sosial
dan lingkungan (CSR)
(Rp 13.957.200 pada tahun 2012)
dan Rp279.852.611 pada tahun 2010)
Lain-lain
(Rp8.785.704.391 pada tahun 2012,
Rp10.188.453.983 pada tahun 2011 dan
Rp9.463.364.258 pada tahun 2010)
Total
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010x`
31 Des. 2011/
Dec. 31, 2011
949,614
1,114,902
1,051,372
Gas guarantee deposits

(US$7,668,793 and Rp37,044,950,263
in 2012, US$4,626,781 and
Rp33,194,576,543 in 2011
and US$3,873,001 and
Rp29,798,824,726 in 2010)
Liabilities to contractors
(US$2,128,386 and Rp42,271,302,332
in 2012, US$5,148,724 and
Rp9,740,548,894 in 2011 and
US$3,195,012, JPY9,453,731
and Rp20,294,812,557 in 2010)
(Rp29,535,588,316
in 2012, US$379,349 and
Rp8,415,809,128 in 2011 and
US$4,501,929 and
Rp10,989,983,865 in 2010)
PT Riau Andalan Pulp and Paper
Project performance bonds
Unearned revenues from fiber optic
(Rp266,301,000 in 2012,
Rp974,991,360 in 2011 and
Rp9,581,028,740 in 2010)
Corporate Social and Environmental
Responsibility (CSR) funds
(Rp13,957,200 in 2012 and
Rp279,852,611 in 2010)
Others
(Rp8,785,704,391 in 2012,
Rp10,188,453,983 in 2011 and
Rp9,463,364,258 in 2010)
24,800,904
20,785,064
25,011,543
Total
11,499,709
8,287,409
7,187,296
6,499,772
6,222,891
5,568,215
3,054,352
1,893,280
751,420
123,775
1,307,427
1,886,987
1,112,958
744,970
5,724,261
1,538,850
2,696,340
148,459
27,539
107,520
1,065,624
1,443
31,126
Gas guarantee deposits payable represents gas

deposits received by the Company from the
customers in relation to the gas sales
transactions.
Utang jaminan gas merupakan uang jaminan gas

yang diterima oleh Perusahaan dari pelanggan
dalam rangka transaksi penjualan gas.
84
Annual Report 2012
388

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
16. UTANG LAIN-LAIN (lanjutan)
16. OTHER PAYABLES (continued)
Liabilitas kepada kontraktor merupakan liabilitas

sehubungan dengan pembangunan gedung,
Proyek Transmisi Sumatera Selatan - Jawa Barat
(SSWJ) dan Proyek Distribusi Jawa Barat (PDJB)
(Catatan 13 dan 17).
Liabilities to contractors represent mainly liabilities

related to the construction of building,
Transmission Pipeline of South Sumatera - West
Java Project (SSWJ) and West Java Distribution
Project (PDJB) (Notes 13 and 17).
Utang lain-lain pembelian barang dan jasa terkait

utang kepada pemasok terkait dengan pembelian
barang dan jasa.
Other payables purchase of goods and services

related to payables to suppliers for purchase of
goods and services.
Utang lancar Iainnya kepada PT Riau Andalan

Pulp and Paper (RAPP) terkait dengan Perjanjian
Jual Beli Gas (PJBG). Berdasarkan perjanjian ini,
RAPP bersedia menyediakan fasilitas-fasilitas
seperti jaringan pipa gas, metering station dan
fasilitas
Iainnya
yang
kemudian
akan
dikompensasi dengan pemakaian gas RAPP.
Other payables to PT Riau Andalan Pulp and

Paper (RAPP) is related to Gas Sales and
Purchase Agreement (GSPA). Based on this
agreement, RAPP agreed to build facilities such
as gas pipelines, metering station and other
facilities and those will be compensated by
RAPPs usage of gas.
Liabilitas kepada ConocoPhillips (Grissik) Ltd.

merupakan utang atas pemakaian gas untuk
pengoperasian kompresor Transgasindo.
Liability to ConocoPhillips (Grissik) Ltd. represents

liability for the usage of gas in order to operate the
Transgasindos compressor.
Pendapatan diterima di muka serat optik

merupakan utang lain-lain atas jasa sewa serat
optik PGASKOM.
Unearned revenues from fiber optic represents

other payables for fiber optic rental services of
PGASKOM.
Utang dana program tanggung jawab sosial dan

lingkungan (CSR) adalah dana yang dicadangkan
untuk memenuhi kewajiban tanggung jawab sosial
sebagaimana diatur dalam Pasal 74 dari Undangundang No. 40 tahun 2007 tentang Perseroan
Terbatas (Catatan 33).
Corporate
Social
and
Environmental
Responsibility (CSR) payables represents funds
incurred to fulfill corporate social and
environmental responsibility as governed under
Article 74 of Law No. 40 year 2007 regarding
Limited Liability Corporation (Note 33).
17. LIABILITAS YANG MASIH HARUS DIBAYAR
17. ACCRUED LIABILITIES

31 Des. 2012/
Dec. 31, 2012
Liabilitas kepada kontraktor dan pemasok

(US$2.817.300, JPY447.153.935 dan
Rp98.520.381.827 pada tahun 2012,
US$7.023.264, JPY201.612.780 dan
Rp97.937.619.787 pada tahun 2011 dan
US$10.466.714, JPY746.133.791
dan Rp60.712.615.353 pada tahun 2010 )
Pembelian aset tetap
Asuransi
(Rp34.181.641.042 pada tahun 2012
dan Rp153.544.993 pada tahun 2011)
Bunga
(US$1.786.611 dan JPY139.479.962
pada tahun 2012, US$2.102.748 dan
JPY138.431.974 pada tahun 2011 dan
US$3.277.150 dan JPY133.504.197
pada tahun 2010)
Beban pemeliharaan
31 Des. 2011/
Dec. 31, 2011
18,183,340
7,585,900
20,420,718
5,207,518
3,534,813
16,933
3,401,710
2,338,376
3,885,968
1,496,313
85
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
Liabilities to contractors and suppliers

(US$2,817,300, JPY447,153,935 and
Rp98,520,381,827 pada tahun 2012,
US$7,023,264, JPY201,612,780
and Rp97,937,619,787 in 2011 and
US$10,466,714, JPY746,133,791
26,371,920
and Rp60,712,615,353 in 2010)
3,614,485
Purchase of fixed assets
Insurance
(Rp34,181,641,042 in 2012
and Rp153,544,993 in 2011)
Interests
(US$1,786,611 and JPY139,479,962
in 2012, US$2,102,748 and
JPY138,431,974 in 2011 and
US$3,277,150 and
4,914,807
JPY133,504,197 in 2010)
1,647,730
Maintenance expense
Annual Report 2012
389

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

(lanjutan)
31 Des. 2012/
Dec. 31, 2012
Jasa konsultan
(Rp22.387.848.921 pada tahun 2012,
Rp7.899.600.296 pada tahun 2010)
Iuran ke BPH Migas
(Rp1.664.973.618 pada tahun 2012,
Rp19.751.943.991 pada tahun 2011 dan
Rp22.960.679.720 pada tahun 2010)
Proyek stasiun Jabung gas booster
Proyek perbaikan pipa bawah laut
Lain-lain
(Rp45.571.370.533 pada tahun 2012,
Rp33.070.842.895 pada tahun 2011 dan
Rp35.653.234.286 pada tahun 2010)
Total
a.
b.
17. ACCRUED LIABILITIES (continued)

1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
31 Des. 2011/
Dec. 31, 2011
2,315,186
815,982
878,612
172,179
13,821
-
2,178,203
477,881
83,161
2,553,740
1,225,729
3,959,490
4,712,655
3,646,983
3,965,436
Consultant fees
(Rp22,387,848,921 in 2012,
Rp7,399,321,178 in 2011 and
Rp7,899,600,296 in 2010)
BPH Migas levy
(Rp1,664,973,618 in 2012,
Rp19,751,943,991 in 2011 and
Rp22,960,679,720 in 2010)
Jabung gas booster station project
Offshore pipeline repair project
Others
(Rp45,571,370,533 in 2012,
Rp33,070,842,895 in 2011 and
Rp35,653,234,286 in 2010)
42,257,980
38,229,660
49,131,949
Total
Bunga
a. Interests
Pada
tanggal
31
Desember
2012,
31 Desember 2010, biaya bunga yang masih
harus dibayar terdiri dari biaya bunga
pinjaman jangka panjang Perusahaan sebesar
US$3.161.234,
US$3.526.996
dan
US$4.454.507 (Catatan 18).

accrued interest consists of interest from the
Companys long-term loans amounting to
US$3,161,234,
US$3,526,996
and
US$4,454,507, respectively (Note 18).
Bunga yang masih harus dibayar juga

mencakup biaya bunga pinjaman bank yang
diperoleh
Transgasindo
masing-masing
sebesar US$240.476, US$358.972 dan
US$460.300 pada tanggal 31 Desember 2012,
31 Desember 2010.
The accrued interest also includes the

interest from Transgasindos bank loan
amounting
to
US$240,476,
US$358,972
and
US$460,300,
respectively
as
of
January 1, 2011/December 31, 2010.
Beban pemeliharaan
b. Maintenance expense
Liabilities for maintenance expense represent
liabilities
incurred
from
the
Companys
maintenance of fixed assets activities.
Liabilitas beban pemeliharaan merupakan

kewajiban yang muncul terkait dengan adanya
kegiatan
pemeliharaan
aset
tetap
Perusahaan.
c. Iuran ke BPH Migas
c. BPH Migas levy

On January 30, 2006, the Government issued
Government Regulation No. 1/2006 which
requires companies engaged in gas distribution
and transportation to pay contribution charges to
Regulatory Body (BPH Migas) at the amount of
0.3% from volume of natural gas sales distributed
times distribution tariff and 3% from volume of
gas transported times transportation tariff.
Pada tanggal 30 Januari 2006, Pemerintah

menetapkan
Peraturan
Pemerintah
No. 1/2006 di mana perusahaan yang
bergerak dalam bidang distribusi dan
pengangkutan gas bumi wajib membayar iuran
kepada Badan Pengatur (BPH Migas) sebesar
0,3% dari volume penjualan distribusi gas
bumi dikali tarif distribusi dan 3% dari volume
pengangkutan
gas
bumi
dikali
tarif
pengangkutan.
86
Annual Report 2012
390

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

(lanjutan)
c. Iuran ke BPH Migas (lanjutan)
d.
c. BPH Migas levy (continued)
Pada tanggal 1 Maret 2012, 11 April 2012 dan

8 Maret 2011, BPH Migas menetapkan
perkiraan besaran iuran Transgasindo tahun
2012, 2011 dan 2010 masing-masing sebesar
Rp35,3 miliar (setara dengan US$3,92 juta),
Rp39,9 miliar (setara dengan US$4,64 juta)
dan Rp42,6 miliar (setara dengan US$4,69
juta).
On March 1, 2012, April 11, 2012 and

March 8, 2011, BPH Migas issued the decree
which stated that the Transgasindos levy
estimation for years 2012, 2011 and 2010
amounted to Rp35.3 billion (equivalent to
US$3.92 million), Rp39.9 billion (equivalent to
US$4.64 million) and Rp42.6 billion (equivalent
to US$4.69 million).
Saldo iuran ke BPH Migas terdiri dari iuran

Perusahaan dan Entitas Anak (Transgasindo)
masing-masing sebesar nihil dan US$172.179
pada
tanggal
31
Desember
2012,
US$1.590.071 dan US$588.132 pada tanggal
31 Desember 2011 dan US$1.278.583
dan
US$1.275.157
pada
tanggal
1 Januari 2011/31 Desember 2010.
Balance of BPH Migas levy consists of the

Companys and the Subsidiarys (Transgasindo)
contributions amounting to nil and US$172,179
as of December 31, 2012, US$1,590,071 and
US$588,132 as of December 31, 2011 and
US$1,278,583 and US$1,275,157 as of
January
1,
2011/December
31,
2010,
respectively.
Proyek stasiun Jabung gas booster
d. Jabung gas booster station project
Proyek
stasiun
Jabung
gas
booster
merupakan pembangunan stasiun kompresor
untuk meningkatkan kapasitas jaringan pipa
Grissik-Singapura di Batam.
Jabung gas booster station project is compressor

station installation executed to expand the
Companys Grissik-Singapore pipeline capacity
in Batam.
e. Proyek perbaikan pipa bawah laut
e. Offshore pipeline repair project
Berdasarkan MFL (Magnetic Flux Leakage)

pigging, Transgasindo menemukan 18 potensi
anomali geometrik atau disebut potential
buckles yang berada di beberapa area (Kuala
Tungkal-Panaran) di jaringan pipa GrissikSingapura. Transgasindo telah melakukan
langkah-langkah untuk memastikan potential
buckles
tersebut
antara
lain
berupa
deformation pigging, assessment study fit for
purpose, penyelaman dalam rangka stabilisasi
jaringan pipa bawah laut melalui penunjukan
konsultan ahli Det Norske Veritas Indonesia
(DNV) dan Offshore Subsea Works Sdn. Bhd.
Based on MFL (Magnetic Flux Leakage) pigging,

Transgasindo found potential 18 geometric
anomalies or classified as potential buckles,
identified along certain area (Kuala TungkalPanaran) of the Grissik-Singapore pipeline.
Transgasindo has taken several actions in
ensuring such potential buckles among others
conducting deformation pigging, assessment
study fit for purpose, diving services for free span
stabilization and buckle inspection of submarine
pipeline through assignment consultants from
Det Norske Veritas Indonesia (DNV) and
Offshore Subsea Works Sdn. Bhd.
Berdasarkan laporan dari konsultan tersebut,

Dewan Direksi Transgasindo memutuskan
melakukan perbaikan sepanjang 23 km
jaringan pipa di KP 110 sampai KP 133 Kuala
Tungkal-Panaran dengan pemotongan dan
penggantian dengan menggunakan metode
zero downtime.
Based on consultants report, the Board of

Directors of Transgasindo has resolved to
perform the repair of 23 km pipeline at KP 110 to
KP 133 Kuala Tungkal-Panaran by cutting and
replacing by using zero downtime method.
87
Annual Report 2012
391

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

(lanjutan)
e. Proyek perbaikan
(lanjutan)
pipa
bawah
laut
e. Offshore pipeline repair project (continued)
Transgasindo menunjuk PT Bakrie Pipe

Industries untuk pengadaan dan pengiriman
coated pipes dengan nilai kontrak sebesar
US$16,85 juta termasuk PPN, PT Worley
Parsons Indonesia (WPI) sebagai Engineering
Consultant Services dan Project Management
Consultancy, dan PT Global Industries Asia
Pacific sebagai Engineering Procurement
Construction and Commissioning. Proses
pemotongan pipa telah selesai pada bulan
Juni 2009.
Transgasindo appointed PT Bakrie Pipe

Industries to supply and delivery of the coated
pipes with contract amount of US$16.85 million
including VAT, PT Worley Parsons Indonesia
(WPI) as the Engineering Consultant Services
and as Project Management Consultancy, and
PT Global Industries Asia Pacific as Engineering
Procurement Construction and Commissioning.
The pipeline cutting process was completed in
June 2009.
Keseluruhan proyek tersebut telah selesai

pada bulan Oktober 2010.
The overall project was completed in October

2010.
18. PINJAMAN JANGKA PANJANG
18. LONG-TERM LOANS

31 Des. 2012/
Dec. 31, 2012

(Catatan 32)
Pinjaman yang diperoleh Pemerintah
dari pemberi pinjaman (Penerusan
Pinjaman)
Pihak ketiga
Corporation Ltd, Jakarta
Standard Chartered Bank, Singapura
Total
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
31 Des. 2011/
Dec. 31, 2011
(Note 32)
701,228,635
93,750,000
784,330,907
112,500,000
143,655,120
195,402,277
246,910,545
Loans obtained by the Government from

the lenders (Two-step Loans)
Third parties
244,444,444
Standard Chartered Bank, Singapore
938,633,755
1,092,233,184
1,422,319,842
Total
799,714,853
131,250,000
Dikurangi pinjaman jangka panjang yang

jatuh tempo dalam waktu satu tahun:
Less current maturities of long-term loans:

(Catatan 32)
Pinjaman yang diperoleh Pemerintah dari
pemberi pinjaman (Penerusan Pinjaman)
Pihak ketiga
(Note 32)
Loans obtained by the Government from
the lenders (Two-step Loans)
Third parties

Total
Bagian jangka panjang - Neto
27,245,649
18,750,000
26,875,532
18,750,000
52,631,579
52,631,579
52,631,579
122,222,222
98,627,228
98,257,111
227,470,654
Total
840,006,527
993,976,073
1,194,849,188
Long-term portion - Net
88
33,866,853
18,750,000
Annual Report 2012
392

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
18. PINJAMAN JANGKA PANJANG (lanjutan)
18. LONG-TERM LOANS (continued)

Two-step loans represent long-term loans from the
Government of the Republic of Indonesia, which
are funded by:
Penerusan Pinjaman merupakan pinjaman jangka

panjang yang diperoleh dari Pemerintah Republik
Indonesia yang dibiayai oleh:
31 Des. 2012/
Dec. 31, 2012
Japan Bank for International Cooperation

(SLA-1156/DP3/2003)
(JPY48.538.362.136 pada tahun
2012, JPY48.319.782.127 pada
tahun 2011 dan JPY47.156.097.513
pada tahun 2010)
Development (SLA-1201/DP3/2006)
European Investment Bank
(SLA-877/DP3/1996 dan
SLA-1139/DP3/2000)
(SLA-879/DP3/1996)
Asian Development Bank
(SLA-832/DP3/1995)
Total
31 Des. 2011/
Dec. 31, 2011
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
19,035,862
26,650,207
34,264,551
17,679,148
24,750,806
70,152,748
834,544
1,213,225
1,585,468

(SLA-1156/DP3/2003)
(JPY48,538,362,136 in 2012,
JPY48,319,782,127 in 2011 and
JPY47,156,097,513 in 2010)
(SLA-877/DP3/1996 and
SLA-1139/DP3/2000)
(SLA-879/DP3/1996)
Asian Development Bank
(SLA-832/DP3/1995)
701,228,635
784,330,907
799,714,853
Total
562,031,066
622,434,245
578,450,218
57,526,796
56,164,947
53,148,135
44,121,219
53,117,477
62,113,733
Japan Bank for International Cooperation (JBIC)

(SLA-1156/DP3/2003) - JPY48.538.362.136

(SLA-1156/DP3/2003) - JPY48,538,362,136
Pada tanggal 27 Maret 2003, JBIC menyetujui

untuk memberikan pinjaman kepada Pemerintah
Republik Indonesia (Pemerintah) berdasarkan
Perjanjian Pinjaman No. IP-511 dengan jumlah
keseluruhan setara dengan JPY49.088.000.000
untuk membantu Pemerintah dalam membiayai
pembangunan jaringan pipa transmisi gas dari
Sumatera Selatan sampai Jawa Barat dan jaringan
pipa distribusi di Jawa Barat.
On March 27, 2003, JBIC agreed to provide a loan

to the Government of the Republic of Indonesia
(the Government) based on Loan Agreement
No. IP-511 for a total aggregate amount equivalent
to JPY49,088,000,000 to assist the Government in
financing the development of a gas transmission
pipeline from South Sumatera to West Java and a
distribution
pipeline
in
West
Java.
Pada tanggal 28 Mei 2003, Perusahaan dan

Pemerintah mengadakan Perjanjian Penerusan
Pinjaman No. SLA-1156/DP3/2003, di mana
Pemerintah meneruskan pinjaman dari JBIC ini
dengan jumlah tidak melebihi JPY49.088.000.000
kepada Perusahaan.
On May 28, 2003, the Company and the

Government entered into a Subsidiary Loan
Agreement No. SLA-1156/DP3/2003, which
provides for the Governments relending of the
JBIC
loan
proceeds
not
exceeding
JPY49,088,000,000 to the Company.
89
Annual Report 2012
393

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

(SLA-1156/DP3/2003)
JPY48.538.362.136
(lanjutan)

(SLA-1156/DP3/2003)
JPY48,538,362,136
(continued)
Pinjaman ini dikenakan tingkat bunga atas

pinjaman JBIC kepada Pemerintah ditambah
0,50% untuk jasa bunga bagian Pemerintah
(termasuk beban bank sebesar 0,15%) per tahun,
yang harus dibayar pada tanggal 20 April dan
20 Oktober sebelum seluruh pinjaman ditarik dan
pada tanggal 20 Maret dan 20 September
setelahnya. Tingkat bunga tahunan pinjaman JBIC
masing-masing adalah berkisar antara 0,75%
sampai dengan 0,95% untuk tahun yang berakhir
pada tanggal-tanggal31 Desember 2012 dan 2011.
This loan is subject to the interest rate of the JBIC

loan to the Government plus a Government fee of
0.50% (including a 0.15% banking fee) per annum,
payable on April 20 and October 20 prior to the
withdrawal of all facilities amount and on March 20
and September 20 afterwards. The JBICs annual
interest rate of the loan is ranging from 0.75% to
0.95% for the years ended December 31, 2012
and 2011, respectively.
Jumlah pokok pinjaman harus dibayar dalam 61

kali angsuran tengah tahunan pada tanggal
20 Maret dan 20 September setiap tahun, dengan
angsuran pertama yang jatuh tempo pada tanggal
20 Maret 2013 dan pembayaran terakhir akan jatuh
tempo pada tanggal 20 Maret 2043.
The principal amount of the loan is repayable in 61

equal semi-annual installments every March 20
and September 20 of each year, with the first
installment due on March 20, 2013 and the last
payment due on March 20, 2043.

Development (IBRD) (SLA-1201/DP3/2006) US$57.526.796

Development (IBRD) (SLA-1201/DP3/2006) US$57,526,796
Berdasarkan Perjanjian Pinjaman No. 7755-ID

(Ex 4810-IND) tanggal 7 Februari 2006, IBRD
menyetujui
memberikan
pinjaman
kepada
Pemerintah Republik Indonesia (Pemerintah)
dengan jumlah keseluruhan setara dengan
US$69.381.312 untuk membantu Pemerintah
dalam membiayai Proyek Pengembangan Pasar
Gas Domestik (Proyek) (Catatan 34.5).
Based on the Loan Agreement No. 7755-ID

(Ex 4810-IND) dated February 7, 2006, IBRD
agreed to lend to the Government of the Republic
of Indonesia (Government) an aggregate amount
equivalent to US$69,381,312 to assist the
Government in financing the Domestic Gas Market
Development Project (the Project) (Note 34.5).
Pada tanggal 3 April 2006, Perusahaan dan

Pinjaman No. SLA-1201/DP3/2006, dimana
Pemerintah meneruskan hasil pinjaman dari IBRD
sebesar US$69.381.312 kepada Perusahaan yang
akan melaksanakan Proyek. Pinjaman ini
dikenakan tingkat bunga atas pinjaman IBRD
kepada Pemerintah ditambah 1% untuk jasa bunga
bagian Pemerintah (termasuk beban bank sebesar
0,15%) per tahun, yang harus dibayar pada tanggal
15 Februari dan 15 Agustus setiap tahun. Tingkat
bunga tahunan pinjaman IBRD masing-masing
adalah berkisar antara 1,88% sampai dengan
5,48% untuk tahun yang berakhir pada tanggaltanggal 31 Desember 2012 dan 2011.
On April 3, 2006, the Company and the

Government entered into the related Subsidiary
Loan Agreement No. SLA-1201/DP3/2006, which
IBRD loan proceeds of US$69,381,312 to the
Company, which shall undertake the Project. The
loan is subject to the interest rate of the IBRD loan
to the Government plus a Government fee of 1%
(including 0.15% banking fee) per annum, payable
on February 15 and August 15 of each year. The
IBRD annual interest rate is ranging from 1.88% to
5.48% for the years ended December 31, 2012 and
2011, respectively.
90
Annual Report 2012
394

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

Development (IBRD) (SLA-1201/DP3/2006) US$57.526.796 (lanjutan)

Development (IBRD) (SLA-1201/DP3/2006) US$57,526,796 (continued)
Pada tanggal
mendapatkan
Juli 2011, Perusahaan

Surat
Persetujuan
No. S-686/PU.2/2011 dari Direktorat Jenderal
Pinjaman dan Hibah, Menteri Keuangan Republik
Indonesia, mengenai persetujuan pembatalan sisa
pinjaman IBRD SLA 1201 sebesar US$10.618.688,
terhitung mulai pada tanggal 21 Desember 2010.
On July 11, 2011, the Company obtained an

Approval Letter No. S-686/PU.2/2011 from
Directorate General of Loans and Grants, Ministry
of Finance of the Republic of Indonesia, regarding
the approval for the cancellation of the remaining
IBRD SLA 1201 loan amounting to US$10,618,688,
starting on December 21, 2010.

mendapatkan surat dari Kementrian Keuangan
Republik Indonesia No. S-12051/MK.5/2011,
mengenai
perubahan
terhadap
Perjanjian
Penerusan Pinjaman No. SLA-1201/DP3/2006,
tanggal 3 April 2006, antara Pemerintah dengan
Perusahaan, yang mengatur perubahan sebagai
berikut:
- Pokok
pinjaman,
yang
dari
semula
US$80.000.000
menjadi
US$69.381.312
terhitung mulai tanggal 21 Desember 2011;
- Tingkat bunga, yang dari semula LIBOR Base
Rate + LIBOR Total Spread + 1% menjadi
tingkat bunga IBRD + 1%;
- Tanggal terakhir penarikan pinjaman (closing
date) yang dari semula pada tanggal 31 Maret
2011 menjadi 31 Maret 2014.
On December 30, 2011, the Company obtained a

letter from Ministry of Finance of the Republic of
Indonesia No. S-12051/MK.5/2011, regarding the
changes of a Subsidiary Loan Agreement
No. SLA-1201/DP3/2006, dated April 3, 2006,
between the Government with the Company, with
the changes as follows:
Perusahaan wajib membayar kepada Pemerintah

biaya komitmen sebesar 0,75% per tahun dari
jumlah pinjaman yang belum ditarik oleh
Perusahaan. Jumlah pokok pinjaman akan dibayar
dalam 30 kali angsuran tengah tahunan pada
tanggal 15 Februari dan 15 Agustus setiap tahun,
dengan angsuran pertama yang jatuh tempo pada
tanggal 15 Agustus 2011 dan pembayaran terakhir
akan jatuh tempo pada tanggal 15 Februari 2026.
The Company has to pay commitment fee of 0.75%

per annum from the total subsidiary loan which not
yet drawndowned by the Company to the
Government. The principal amount of the loan is
repayable in 30 equal semi-annual installments
every February 15 and August 15 of each year,
with
the
first
installment
due
on
August 15, 2011 and the last payment due on
February 15, 2026.
European
Investment
Bank
(SLA-877/DP3/1996) - US$8.491.166
European
Investment
Bank
(SLA-877/DP3/1996) - US$8,491,166
11
- The principal amount, from US$80,000,000 to

become
US$69,381,312,
starting
on
December 21, 2011;
- The interest rate, from LIBOR Base Rate +
LIBOR Total Spread + 1% to become IBRD
interest rate + 1%;
- The date of the last drawdown (closing date),
from March 31, 2011 to March 31, 2014.
(EIB)
(EIB)
Based on the Loan Agreement No. FINO.1.8070

dated July 20, 1995 among EIB, the Government of
the Republic of Indonesia (the Government) and
the Company, EIB agreed to lend to the
Government an aggregate amount equivalent to
ECUS46,000,000 to assist the Government in
financing the Gas Transmission and Distribution
Project (The Project) in Central Sumatera and
Batam Island (Note 34.5).
Berdasarkan Perjanjian Pinjaman No. FINO.1.8070

tanggal 20 Juli 1995, antara EIB, Pemerintah
Republik Indonesia (Pemerintah) dan Perusahaan,
EIB menyetujui untuk memberikan pinjaman
kepada Pemerintah dengan jumlah keseluruhan
setara dengan ECUS46.000.000 untuk membantu
Pemerintah dalam membiayai Proyek Transmisi
dan Distribusi Gas (Proyek) di Sumatera Tengah
dan Pulau Batam (Catatan 34.5).
91
Annual Report 2012
395

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
European
Investment
Bank
(EIB)
(SLA-877/DP3/1996) - US$8.491.166 (lanjutan)
European
Investment
Bank
(EIB)
(SLA-877/DP3/1996) - US$8,491,166 (continued)
Pada tanggal 1 Maret 1996, Perusahaan dan

Pemerintah meneruskan hasil pinjaman dari EIB
sebesar ECUS46.000.000 kepada Perusahaan
yang akan melaksanakan Proyek. Pinjaman ini
dikenakan tingkat bunga sebesar pinjaman EIB
kepada Pemerintah ditambah 0,50% untuk jasa
bunga bagian Pemerintah (termasuk beban bank
sebesar 0,15%) per tahun, yang harus dibayar
pada tanggal 15 Januari dan 15 Juli setiap tahun.
Tingkat bunga tahunan pinjaman EIB masingmasing adalah berkisar antara 4,35% sampai
dengan 7,41% untuk tahun yang berakhir pada
tanggal-tanggal 31 Desember 2012 dan 2011.
15 Januari dan 15 Juli setiap tahun, dengan
15 Januari 1999 dan pembayaran terakhir akan
jatuh tempo pada tanggal 15 Juli 2014.
On March 1, 1996, the Company and the

provides for the Governments relending of the EIB
loan proceeds of ECUS46,000,000 or its
equivalent to the Company, which will undertake
the Project. The loan is subject to the interest rate
of the EIB loan to the Government plus a
Government fee of 0.50% (including 0.15%
banking
fee)
per
annum,
payable
on
January 15 and July 15 of each year. The EIBs
annual interest rates of the loan is ranging from
4.35% to 7.41% for the years ended
December 31, 2012 and 2011, respectively. The
principal amount of the loan is repayable in 32
equal semi-annual installments on January 15 and
July 15 of each year, with the first installment due
on January 15, 1999 and the last payment due on
July 15, 2014.
Di dalam Perjanjian Pinjaman, Perusahaan

diharuskan memelihara batasan keuangan tertentu
setiap tahun, dimulai pada tahun 1999 seperti rasio
kemampuan membayar utang (debt service ratio)
sebesar 1,3:1 atau lebih dan rasio utang terhadap
ekuitas (debt to equity ratio) sebesar maksimum
70:30.
Under the Loan Agreement, the Company

undertakes, among other things, that it shall
maintain certain financial covenants each year
commencing in 1999 such as a debt service ratio of
1.3:1 or more and a debt to equity ratio of
maximum 70:30.
Bilamana ada pembayaran angsuran, bunga dan

beban
komitmen
yang
terlambat,
maka
pembayaran tersebut akan dikenakan denda
sebesar 2% di atas tingkat suku bunga setiap
tahun.
Any overdue repayments of installments, interest

and commitment charges will bear a penalty at the
rate of 2% above the interest rate per annum.
92
Annual Report 2012
396

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
European
Investment
Bank
(EIB)
European
Investment
(SLA-1139/DP3/2000)
(continued)
Pada tanggal 15 September 2000, Perusahaan dan

Pemerintah meneruskan pinjaman dari EIB dengan
jumlah tidak melebihi EUROS70.000.000 kepada
Perusahaan sebagai bagian dari pembiayaan
Proyek Transmisi dan Distribusi Gas Tahap II.
Pinjaman ini dikenakan tingkat bunga sebesar
pinjaman EIB kepada Pemerintah ditambah 0,50%
untuk jasa bunga bagian Pemerintah (termasuk
beban bank sebesar 0,15%) per tahun, yang harus
dibayar pada tanggal 15 Juni dan 15 Desember
setiap tahun. Tingkat bunga pinjaman EIB adalah
berkisar antara 4,95% sampai dengan 5,30% per
tahun untuk tahun yang berakhir pada tanggaltanggal 31 Desember 2012 dan 2011.
On September 15, 2000, the Company and the

Government entered into a Subsidiary Loan
Agreement No. SLA-1139/DP3/2000, which
provides for the Governments relending of the EIB
loan proceeds not exceeding EUROS70,000,000 to
the Company as part of the financing of the Gas
Transmission and Distribution Project Phase II. The
loan is subject to the interest rate of the EIB loan to
the Government plus a Government fee of 0.50%
(including 0.15% banking fee) per annum, payable
on June 15 and December 15 of each year. The
EIBs annual interest rates of the loan is ranging
from 4.95% to 5.30% for the years ended
December 31, 2012 and 2011.

kali angsuran tengah tahunan pada tanggal 15 Juni
dan 15 Desember setiap tahun, dengan angsuran
pertama yang jatuh tempo pada tanggal
15 Desember 2004 dan pembayaran terakhir akan
jatuh tempo pada tanggal 15 Juni 2020.

equal semi-annual installments on June 15 and
December 15 of each year, with the first installment
due on December 15, 2004 and the last payment
due on June 15, 2020.
Di dalam Perjanjian Pinjaman, Perusahaan

diharuskan memelihara batasan keuangan setiap
tahun, yaitu rasio utang terhadap ekuitas (debt to
equity ratio) sebesar maksimum 2:1.
Under the Loan Agreement, the Company

undertakes among other things, that it shall
such as debt to equity ratio of maximum 2:1.

(SLA-879/DP3/1996) - US$19.035.862

(SLA-879/DP3/1996) - US$19,035,862
Berdasarkan
Perjanjian
Pinjaman
tanggal
23 Oktober 1995, JBIC menyetujui untuk
memberikan
pinjaman
kepada
Pemerintah
Republik Indonesia (Pemerintah) dengan jumlah
keseluruhan setara dengan US$195.000.000 untuk
membantu Pemerintah dalam membiayai Proyek
Transmisi dan Distribusi Gas (Proyek) di
Sumatera
Tengah
dan
Pulau
Batam
(Catatan 34.5).
Based
on
the
Loan
Agreement
dated
October 23, 1995, JBIC agreed to lend to the
Government of the Republic of Indonesia (the
Government) an aggregate amount equivalent to
US$195,000,000 to assist the Government in
Project (the Project) in Central Sumatera and
93
Annual Report 2012
Bank
(EIB)
US$35,630,053
397

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012


Pada tanggal 12 Maret 1996, Perusahaan dan

Pemerintah meneruskan hasil pinjaman dari JBIC
sebesar US$195.000.000 kepada Perusahaan
yang akan melaksanakan Proyek. Pinjaman ini
dikenakan tingkat bunga atas pinjaman JBIC
kepada Pemerintah ditambah 0,50% untuk jasa
sebesar 0,15%) per tahun, yang harus dibayar
pada tanggal 15 Mei dan 15 November setiap
tahun. Tingkat bunga tahunan pinjaman JBIC
masing-masing adalah sebesar 0,67% dan sebesar
0,67% sampai dengan 0,69% per tahun untuk
tahun yang berakhir pada tanggal-tanggal
31 Desember 2012 dan 2011. Pokok pinjaman
harus dibayar dalam 32 kali angsuran tengah
tahunan pada tanggal 15 Mei dan 15 November
setiap tahun, dengan angsuran pertama yang jatuh
tempo pada tanggal 15 November 1999 dan
pembayaran terakhir akan jatuh tempo pada
tanggal 15 Mei 2015.
On March 12, 1996, the Company and the

JBIC loan proceeds of US$195,000,000 to the
Company, which shall undertake the Project. The
loan is subject to the interest rate of the JBIC loan
to the Government plus a Government fee of
0.50% (including a 0.15% banking fee) per annum,
payable on May 15 and November 15 of each year.
The JBICs annual interest rate of the loan is 0.67%
and from 0.67% to 0.69% for the years ended on
December 31, 2012 and 2011, respectively. The
principal amount of the loan is repayable in 32
equal semi-annual installments on May 15 and
November 15 of each year, with the first installment
due on November 15, 1999 and the last payment
due on May 15, 2015.
Asian
Development
Bank
(SLA-832/DP3/1995) - US$17.679.148
Asian
Development
Bank
(SLA-832/DP3/1995) - US$17,679,148
(ADB)
(ADB)
Berdasarkan Perjanjian Pinjaman No. 1357-IND

tanggal 26 Juni 1995, ADB menyetujui untuk
memberikan
pinjaman
kepada
Pemerintah
Republik Indonesia (Pemerintah) dengan jumlah
keseluruhan setara dengan US$218.000.000 untuk
membantu Pemerintah dalam membiayai Proyek
Transmisi dan Distribusi Gas (Proyek) di
Sumatera
Tengah
dan
Pulau
Batam
(Catatan 34.5).
Based on the Loan Agreement No. 1357-IND dated

June 26, 1995, ADB agreed to lend the
Government of the Republic of Indonesia (the
Government) an aggregate amount equivalent to
US$218,000,000 to assist the Government in
Project (the Project) in Central Sumatera and
Pada tanggal 31 Oktober 1995, Perusahaan dan

Pemerintah meneruskan hasil pinjaman dari ADB
kepada Perusahaan sebesar US$218.000.000.
Perusahaan akan melaksanakan Proyek ini sesuai
dengan Perjanjian Proyek dengan ADB tanggal
26 Juni 1995.
On October 31, 1995, the Company and the

ADB loan proceeds of US$218,000,000 to the
Company. The Company will undertake the Project
in accordance with the Project Agreement with
ADB dated June 26, 1995.
94
Annual Report 2012
398

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
Asian
Development
Bank
(ADB)
Asian
Development
Bank
(ADB)
Pinjaman ini dikenakan tingkat bunga pinjaman

ADB ke Pemerintah ditambah 0,50% untuk jasa
sebesar 0,15%) per tahun dan jasa komitmen
sebesar 0,75% per tahun dihitung atas jumlah
pinjaman yang belum dipergunakan, yang harus
dibayar pada tanggal 15 Mei dan 15 November
setiap tahun. Tingkat bunga tahunan pinjaman
ADB masing-masing adalah sebesar 1,02% dan
sebesar 1,04% sampai dengan 4,34% untuk tahun
yang berakhir pada tanggal-tanggal 31 December
2012 dan 2011.
The loan is subject to the interest rate of the ADB

loan to the Government plus a Government fee of
0.50% (including a 0.15% banking fee) per annum
and a commitment fee at the rate of 0.75% per
annum calculated on the amount of loan not yet
drawn, payable on May 15 and November 15 of
each year. The ADBs annual interest rate of the
loan is 1.02% and from 1.04% to 4.34% for the
years ended December 31, 2012 and 2011,
respectively.

15 Mei dan 15 November setiap tahun, dengan
15 November 1999 dan pembayaran terakhir akan
jatuh tempo pada tanggal 15 Mei 2015.

equal semi-annual installments on May 15 and
November 15 of each year, with the first installment
due on November 15, 1999 and the last payment
due on May 15, 2015.
Di dalam Perjanjian Proyek tanggal 26 Juni 1995

antara Perusahaan dan ADB, Perusahaan
diharuskan meminta izin terlebih dahulu dari ADB
dalam hal pinjaman yang diperoleh setelah tanggal
perjanjian, selain yang dipergunakan untuk
membiayai proyek, yang akan mengakibatkan
perkiraan kemampuan membayar utang kurang
dari 1,3:1 dan rasio utang terhadap ekuitas (debt to
equity ratio) lebih dari 70:30.
As stipulated under the Project Agreement dated

June 26, 1995 between the Company and ADB,
the Company must obtain prior consent from ADB
for any loans obtained after the date of the
agreement, except for loans obtained to finance
the project, which will cause the Companys debt
service ratio to be 1.3:1 or less or the debt to
equity ratio to exceed 70:30.
Pada tanggal 13 September 2011, Perusahaan

telah melakukan pelunasan pokok sebesar
US$34.071.363.
On September 13, 2011, the Company has paid

the principal amounting to US$34,071,363.
International
Development
US$834.544
Bank for Reconstruction and

(IBRD) (SLA-1166/DP3/2004) -

Development (IBRD) (SLA-1166/DP3/2004) US$834,544
Berdasarkan Perjanjian Pinjaman No. 7758-ID

(Ex 4712-IND) tanggal 1 Oktober 2003, IBRD
setuju untuk memberikan pinjaman kepada
Pemerintah Republik Indonesia (Pemerintah)
sebesar US$141.000.000 untuk pembiayaan
proyek yang akan dilaksanakan oleh Perusahaan
dan PT Perusahaan Listrik Negara (Persero)
(PLN).
Based on the Loan Agreement No. 7758-ID

(Ex 4712-IND) dated October 1, 2003, the IBRD
agreed to lend to the Government of the Republic
of Indonesia (Government) the amount of
US$141,000,000 to finance a project to be carried
out by the Company and PT Perusahaan Listrik
Negara (Persero) (PLN).
95
Annual Report 2012
399

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

Development (IBRD) (SLA-1166/DP3/2004) US$834.544 (lanjutan)

Development (IBRD) (SLA-1166/DP3/2004) US$834,544 (continued)
Pemerintah akan meneruskan pinjaman tersebut

kepada Perusahaan dan PLN melalui perjanjian
penerusan
pinjaman.
Proyek
yang
akan
dilaksanakan oleh Perusahaan berhubungan
dengan persiapan kebijakan rasionalisasi harga
gas,
restrukturisasi
Perusahaan,
persiapan
penawaran umum perdana atas aktivitas distribusi
dan persiapan mitra strategis pada aktivitas
transmisi gas Perusahaan.
The Government will relend the loan proceeds to

the Company and PLN through two-step loan. The
project to be carried out by the Company relates to
preparation of a rationalized gas pricing policy,
corporate
restructuring
of
the
Company,
preparation for an initial public offering for the
Companys distribution activities and preparation
for the involvement of a strategic partner in the
Companys gas transmission operations.
Pada tanggal 13 Mei 2004, Perusahaan dan

Pemerintah meneruskan sebagian hasil pinjaman
dari IBRD sebesar US$2.487.672 kepada
Perusahaan, yang akan melaksanakan proyek.
Pinjaman ini dikenakan tingkat bunga atas
pinjaman IBRD kepada Pemerintah ditambah
0,50% untuk jasa bunga bagian Pemerintah
(termasuk beban bank sebesar 0,15%) per tahun,
yang harus dibayar pada tanggal 15 Juni dan
15 Desember setiap tahun.
On May 13, 2004, the Company and the

provides for the Governments relending of a
portion of the IBRD loan proceeds of
US$2,487,672 to the Company, which shall
undertake the project. The loan is subject to the
interest rate of the IBRD loan to the Government
plus a Government fee of 0.50% (including a
0.15% banking fee) per annum, payable on
June 15 and December 15 of each year.
Pada tanggal 20 Juli 2010, Perusahaan

mendapatkan
Surat
dari
Bank
Dunia
No. JA-356/JAVA-BALI/VII/2010, yang menyatakan
bahwa saldo sebesar US$3.572.934 tidak dapat
ditarik lagi oleh Perusahaan, sehingga total fasilitas
yang
diperoleh
Perusahaan
sebesar
US$2.487.672.
On July 20, 2010, the Company obtained a Letter

from World Bank No. JA-356/JAVA-BALI/VII/2010,
stating that the amount of US$3,572,934 could not
be drawndown anymore by the Company,
therefore, the total loan facility obtained by the
Company amounting to US$2,487,672.
Pada tanggal 7 Februari 2011, Perusahaan

menerima surat dari Menteri Keuangan Republik
Indonesia No. S-1076/MK-05/2011 terkait dengan
persetujuan perubahan atas SLA-1166/DP3/2004
tanggal 13 Mei 2004 dengan jumlah pinjaman
sebesar
US$2.487.672.
Perusahaan
wajib
membayar kepada Pemerintah biaya komitmen
sebesar 0,75% per tahun dari jumlah pinjaman
yang belum ditarik. Jumlah pokok pinjaman harus
dibayar dalam 30 kali angsuran tengah tahunan
pada tanggal 15 Juni dan 15 Desember setiap
tahun, dengan angsuran pertama yang jatuh tempo
pada tanggal 15 Desember 2008 dan pembayaran
terakhir akan jatuh tempo pada tanggal
15 Juni 2023.
On February 7, 2011, the Company obtained a

letter from the Ministry of Finance of the Republic
of Indonesia No. S-1076/MK-05/2011 related to the
approval of the changes of SLA-1166/DP3/2004
dated May 13, 2004 with the total loan amounting
to US$2,487,672. The Company has to pay
commitment fee of 0.75% per annum from the total
loan which not yet drawndowned by the Company
to the Government, the principal amount of the
loan is repayable in 30 equal semi-annual
installments every June 15 and December 15 of
each year, with the first installment due on
December 15, 2008 and the last payment due on
June 15, 2023.
96
Annual Report 2012
400

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

Development (IBRD) (SLA-1166/DP3/2004) US$834.544 (lanjutan)

Development (IBRD) (SLA-1166/DP3/2004) US$834,544 (continued)
Tingkat bunga tahunan adalah sebesar 5,04%

untuk tahun yang berakhir pada tanggal
31 Desember 2012 dan berkisar antara 1,64%
sampai dengan 1,93% untuk tahun yang berakhir
pada 31 Desember 2011.
Annual interest rates are 5.04% for the year ended

December 31, 2012 and from ranging 1.64% to
1.93% for the year ended December 31, 2011.
PT Bank Negara Indonesia (Persero) Tbk (BNI) US$93.750.000
PT Bank Negara Indonesia (Persero) Tbk (BNI) US$93,750,000
Berdasarkan
Perjanjian
Pinjaman
No. 058/KPI/PK/2007 tanggal 17 September 2007,
BNI, suatu entitas yang dimana Pemerintah
memiliki kepemilikan 60% dari total saham yang
beredar, menyetujui untuk memberikan pinjaman
kepada Perusahaan dengan jumlah keseluruhan
setara dengan US$150.000.000 untuk keperluan
pembiayaan penyelesaian Proyek Jaringan Pipa
Transmisi Gas Bumi Sumatera Selatan-Jawa Barat
(Proyek SSWJ) dan Jaringan Pipa Distribusi Gas
Jawa Barat.
Based
on
the
Loan
Agreement
No. 058/KPI/PK/2007 dated September 17, 2007,
BNI, an entity that the Government has an
ownership of 60% from total issued shares, agreed
to provide loan to the Company at an aggregate
amount equivalent to US$150,000,000 to finance
the South Sumatera-West Java Pipeline Gas
Transmission Project (SSWJ Project) and West
Java Pipeline Gas Distribution.
Berdasarkan perjanjian pinjaman ini, jangka waktu

fasilitas kredit adalah selama sepuluh tahun sejak
tanggal 17 September 2007 sampai tanggal
16 September 2017, termasuk tenggang waktu dua
tahun. Pinjaman ini akan dibayar dalam 16 kali
angsuran
tengah
tahunan
dimulai
dari
16 Maret 2010.
Based on this loan agreement, the term of the

credit facility is valid for ten years since
September 17, 2007 until September 16, 2017,
including two years grace year. The loan is payable
in 16 semi-annual installments starting from
March 16, 2010.
Pinjaman ini dikenakan tingkat bunga sebesar

SIBOR tiga bulan ditambah 1,75% per tahun, yang
harus dibayar paling lambat pada tanggal 25 setiap
bulannya.
This loan is subject to the three months SIBOR

interest rate plus 1.75% per annum, payable not
th
more than the 25 every month.
Perjanjian pinjaman ini mencakup pembatasanpembatasan antara lain tidak diperkenankan

menjaminkan aset Perusahaan kepada kreditur
lain, mengadakan merger, mengubah status
hukum, memberikan pinjaman kepada pihak lain,
melakukan investasi dengan jumlah lebih besar
daripada 15% dari ekuitas neto, menerima
pinjaman dan mengambil lease tanpa persetujuan
tertulis dari BNI.
The loan agreement includes negative covenants,

relating to, among others, create any liens on any
property to other debtors, conducting merger,
change the legal status, provide the loan to other
parties, conducting the investment more than 15%
from net shareholder equity, obtain the loan and
lease without obtaining the BNIs written approval.
97
Annual Report 2012
401

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
The Hongkong and Shanghai Banking Corporation

Ltd, Jakarta - US$143.655.120
The Hongkong and Shanghai Banking Corporation

Ltd, Jakarta - US$143,655,120
Pada tanggal 30 Agustus 2010, Transgasindo

menandatangani term loan facility agreement
dengan
sindikasi
dari The Hongkong dan
Shanghai Banking Corporation Limited, Jakarta
(HSBC) US$250.000.000. Fasilitas ini digunakan
oleh Transgasindo untuk membayar kembali
pinjaman pemegang saham dan untuk keperluan
umum. Fasilitas ini memiliki jangka waktu 5 tahun
dengan 19 kali cicilan triwulanan dimulai 6 bulan
setelah tanggal penarikan pertama (grace year).
Pinjaman ini dikenakan bunga pada tingkat bunga
tiga bulan BBA LIBOR + margin sebesar 1,99%
per tahun.
On August 30, 2010, Transgasindo signed a term

loan facility agreement with syndication of The
Hongkong and Shanghai Banking Corporation
Limited, Jakarta (HSBC) for US$250,000,000. This
facility was utilized by Transgasindo to refinance
existing shareholder loans and for general
corporate purposes. This facility is valid for 5 years
with 19 equal quarterly installments commencing 6
months after the first drawdown date (grace year).
The loan bears interest at the rate of three months
BBA LIBOR + margin of 1.99% per annum.
Pada tanggal 3 September 2010, fasilitas tersebut

telah ditarik seluruhnya dan dikenakan tingkat
bunga per tahun berkisar antara 2,24%-2,52%.
On September 3, 2010, the facility had been fully

drawn down and bears interest rate is ranging from
2.24%-2.52% per annum.
Selama tahun 2012, Transgasindo telah membayar

angsuran secara triwulan dengan jumlah sebesar
US$52.631.580
pada
tanggal
5
Maret,
5 Juni, 5 September dan 5 Desember 2012.
During 2012, Transgasindo has already paid in

quarterly installments amounting to US$52,631,580
on March 5, June 5, September 5 and
December 5, 2012.
Perjanjian pinjaman mencakup pembatasanpembatasan umum antara lain, Transgasindo tidak

diperkenankan untuk menjaminkan asset atau
pendapatan Transgasindo kepada pihak ketiga
dalam jumlah yang melebihi US$10.000.000,
merevisi atau mengubah
kegiatan usahanya,
memindahkan sebagian atau seluruh GTA ke pihak
ketiga, melakukan merger, investasi dan akuisisi,
mengubah Anggaran Dasar, mengubah susunan
Dewan Komisaris dan Direksi dan pemegang
saham tanpa pemberitahuan tertulis kepada HSBC,
dan menjual, menyewakan, mengalihkan atau
menghapuskan asetnya kecuali untuk kegiatan
usaha sehari-hari.
The loan agreement includes general covenants,

relating to among others, Transgasindo shall not
pledge any of Transgasindos assets or revenues
to third parties in an amount at any time exceeding
US$10,000,000, revise or change the nature of
business, assign any or all GTA to third party,
conduct merger, investment and acquisition,
amend the Articles of Association, change the
composition of the Boards of Commissioners and
Directors and the shareholders, without giving the
written notification to HSBC and sell, lease,
transfer or dispose its existing pipelines unless for
normal business transactions.
Selama pinjaman masih terutang, Transgasindo

diwajibkan mematuhi semua batasan, termasuk
sejumlah rasio keuangan sebagai berikut:
During the year of the outstanding loan,

Transgasindo is required to comply with all
covenants or restrictions including certain financial
ratios as follows:
(i) total shareholders equity to be not less than
US$250,000,000;
(ii) the net debt to shareholders equity ratio to be
not greater than 2.33x;
(iii) the net debt to EBITDA ratio to be not greater
than 3.5x.
(i) jumlah ekuitas tidak lebih kecil dari

US$250.000.000;
(ii) rasio utang neto terhadap ekuitas tidak lebih
besar dari 2,33x;
(iii) rasio utang neto terhadap EBITDA tidak lebih
besar dari 3,5x.
98
Annual Report 2012
402

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

Standard
Chartered
Singapura - US$ nihil
Bank

Standard
Chartered
Singapore - US$ nil
(SCB),
Bank
(SCB),

memperoleh fasilitas pinjaman sindikasi dari
Standard Chartered Bank, Singapura, untuk
membeli kembali Guaranteed Notes I sebesar
US$150.000.000 dan Guaranteed Notes II sebesar
US$125.000.000. Perjanjian pinjaman ini akan
jatuh tempo pada tanggal 10 Desember 2012
termasuk tenggang waktu satu tahun. Pinjaman ini
dikenakan tingkat bunga sebesar LIBOR ditambah
3,10% per tahun. Pinjaman ini akan dibayar dalam
angsuran tiga bulanan dimulai pada tanggal
9 Desember 2010.
On November 25, 2009, the Company obtained

syndication loan facility from Standard Chartered
Bank, Singapore to redeem the Guaranteed Notes
I amounting to US$150,000,000 and Guaranteed
Notes II amounting to US$125,000,000. The loan
agreement will expire on December 10, 2012,
including one year grace year. This loan is subject
to the LIBOR interest rate plus 3.10% per annum.
This loan is payable in quarterly installment starting
from December 9, 2010.
Di dalam perjanjian pinjaman, Perusahaan

diharuskan memelihara batasan keuangan tertentu
setiap tahun seperti rasio utang terhadap ekuitas
(the ratio of maximum gross debt to equity) sebesar
maksimum 70:30 dan rasio utang terhadap
EBITDA (the ratio of maximum gross debt to
EBITDA) sebesar maksimum 75:25.
Under the loan agreement, the Company

undertakes, among other things, that it shall
such as the ratio of maximum gross debt to equity
of maximum 70:30 and the ratio of maximum gross
debt to EBITDA of maximum 75:25.
Perjanjian pinjaman ini mencakup pembatasanpembatasan antara lain tidak diperkenankan

menjaminkan aset Perusahaan kepada kreditur
lain, mengubah status hukum, menjual atau
mentransfer aset dan piutang Perusahaan,
memberikan atau menerima pinjaman, melakukan
investasi dengan jumlah lebih dari 10% dari ekuitas
neto konsolidasian, mengeluarkan obligasi atau
Letter of Credit kepada pihak lain, mengadakan
merger
dan
mengadakan
sewa
tanpa
mendapatkan persetujuan tertulis dari SCB.
This loan agreement includes negative covenants,

relating to among others, creating any liens on any
properties to other creditors, changing the legal
status, selling or transferring the Companys
properties and receivables, making or accepting
any loans, conducting the investment more than
10% from consolidated tangible net worth, issuing
bond or Letter of Credit to other parties, conducting
merger and conducting a lease without obtaining
the SCBs written approval.
Pada tanggal 7 Maret 2011, Perusahaan telah

melakukan pelunasan pinjaman jangka panjang
dari SCB sebesar US$244.444.444.
On March 7, 2011, the Company has fully paid the

long-term loan from SCB, amounting to
US$244,444,444.
Pada tanggal 31 Desember 2012, Kelompok Usaha

telah memenuhi semua rasio keuangan yang
dipersyaratkan dalam perjanjian pinjaman.
As of December 31, 2012, the Group has complied

with all financial ratios required to be maintained
under the loan agreements.
99
Annual Report 2012
403

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
19. PERPAJAKAN
a.
19. TAXATION
a. Estimated Claims for Tax Refund
Estimasi Tagihan Pajak
31 Des. 2011/
Dec. 31, 2011
31 Des. 2012/
Dec. 31, 2012
Pajak Penghasilan:
Pasal 21
Pasal 23
Pasal 29
- Tahun 2010
- Tahun 2011
- Tahun 2012
Pajak Pertambahan Nilai
Total
b.
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
1,987
142,065
69,736
-
9,014,899
139,603
1,043,541
118,947
9,613,374
-
162,531
-
Income Taxes:
Article 21
Article 23
Article 29
Year 2010 Year 2011 Year 2012 Value-Added Tax
10,342,095
9,802,057
162,531
Total
b. Prepaid Taxes
Pajak Dibayar Di Muka
31 Des. 2012/
Dec. 31, 2012
(Rp1.418.981.452 pada
tahun 2011 dan Rp15.725.631.695
pada tahun 2010)
Pajak Penghasilan:
Pasal 23 (Rp726.186.697)
Total
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
31 Des. 2011/
Dec. 31, 2011
156,482
-
156,482
100
1,749,041
80,768
1,829,809
Annual Report 2012
Value-Added Taxes
(Rp1,418,981,452 in 2011 and
Rp15,725,631,695 in 2010)
Income Taxes:
Article 23 (Rp726,186,697)
Total
404

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
19. PERPAJAKAN (lanjutan)

c.
19. TAXATION (continued)

c. Taxes Payable
Utang Pajak
31 Des. 2011/
Dec. 31, 2011
31 Des. 2012/
Dec. 31, 2012
Pajak Penghasilan:
Pasal 21
(Rp11.122.478.276 pada tahun
2012, Rp18.197.147.548 pada
tahun 2011 dan Rp11.243.138.059
pada tahun 2010)
Pasal 23
(Rp5.757.439.716 pada tahun
2012, Rp25.720.173.483 pada
tahun 2011 dan Rp23.440.775.356
pada tahun 2010)
Pasal 25
(Rp91.212.570.902 pada tahun
2012, Rp139.859.092.672 pada
tahun 2011 dan Rp54.015.026.635
pada tahun 2010)
Pasal 29
(US$65.544.115 dan Rp5.642.010.475
Rp1.099.496.902 pada tahun 2011
dan US$11.813.686 dan
Rp223.754.925.518 pada tahun 2010)
(Rp32.140.133.076 pada tahun
2012, Rp4.547.511.686 pada
tahun 2011 dan Rp648.698.885
pada tahun 2010)
Total
d.
1,150,205
2,006,743
595,392
2,836,367
1,250,488
Income Taxes:
Article 21
(Rp11,122,478,276 in 2012,
Rp18,197,147,548 in 2011 and
Rp11,243,138,059 in 2010)
2,607,138
Article 23
(Rp5,757,439,716 in 2012,
Rp25,720,173,483 in 2011 and
Rp23,440,775,356 in 2010)
9,432,531
15,423,367
6,007,677
66,127,570
618,294
36,700,231
Article 25
(Rp91,212,570,902 in 2012,
Rp139,859,092,672 in 2011 and
Rp54,015,026,635 in 2010)
Article 29
(US$65,544,115 and Rp5,642,010,475
in 2012, US$497,044 and
Rp1,099,496,902 in 2011
and US$11,813,686 and
Rp223,754,925,518 in 2010)
3,323,695
501,490
72,150
Value-Added Taxes
(Rp32,140,133,076 in 2012,
Rp4,547,511,686 in 2011 and
Rp648,698,885 in 2010)
80,629,393
21,386,261
46,637,684
Total
d. Tax Expense
Beban Pajak
Beban (manfaat) pajak
Entitas Anak terdiri dari:
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
Perusahaan
Tax expense (benefit) of the Company and

Subsidiaries are as follows:
dan
31 Des. 2011/
Dec. 31, 2011
31 Des. 2012/
Dec. 31, 2012
Kini
Perusahaan
Entitas Anak
215,494,000
22,873,358
157,599,868
20,382,117
Current
The Company
Subsidiaries
Sub-total
238,367,358
177,981,985
Sub-total
Tangguhan
Perusahaan
Entitas Anak
(2,703,067)
(2,612,514)
(4,799,601)
(3,108,886)
Deferred
The Company
Subsidiaries
Sub-total
(5,315,581)
(7,908,487)
Sub-total
233,051,777
170,073,498
Tax expense - net
Beban pajak - neto
101
Annual Report 2012
405


DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

e.

e. Current Tax
Pajak Kini
The reconciliation between profit before tax

benefit (expense), as shown in the
income and estimated taxable income is as
follows:
Rekonsiliasi antara laba sebelum manfaat

(beban) pajak, seperti yang tercantum dalam
laporan laba rugi komprehensif konsolidasian
dan estimasi laba kena pajak adalah sebagai
berikut:
31 Des. 2011/
Dec. 31, 2011
31 Des. 2012/
Dec. 31, 2012
Laba sebelum manfaat (beban) pajak
menurut laporan laba rugi komprehensif
konsolidasian
Laba sebelum manfaat
(beban) pajak Entitas Anak
Penyesuaian konsolidasian
Laba sebelum pajak - Perusahaan
Beda temporer
Kesejahteraan karyawan - neto
Gaji dan bonus
Penyisihan kerugian
penurunan nilai piutang
Penyisihan persediaan usang setelah dikurangi pemulihan
Beda temporer - neto
Beda tetap
Gaji dan kesejahteraan karyawan
Representasi dan jamuan
Beban lain-lain yang tidak dapat
dikurangkan
Pajak dan perizinan - neto
Penghasilan sewa yang telah
dikenakan pajak final
Penghasilan bunga yang telah
dikenakan pajak penghasilan final
Pendapatan dividen yang tidak dikenakan pajak
Selisih kurs
Beda tetap - neto
(65,343,245)
9,050,898
Profit before tax benefit (expense)

per consolidated statements of
Profit before tax benefit
(expense) of the Subsidiaries
Consolidation adjustments
1,083,982,269
815,681,670
Profit before tax expense of the Company
7,741,077
3,071,193
14,590,215
5,139,025
1,302,636
(1,068,962)
1,148,308,027
871,974,017
(74,904,394)
10,578,636
37,672
Temporary differences
Employees benefits - net
Salaries and bonus
Provision for receivables
impairment losses
Provision for inventory obsolescence
- net of reversal
13,045,050
18,697,950
Temporary differences - net
16,582,824
4,748,602
19,407,206
4,547,949
Permanent differences
Salaries and other employees benefits
Representation and entertainment
2,759,375
141,139
2,684,900
7,944
930,144
(19,984)
(22,814,612)
(20,954,500)
-
__
(182,001)
(33,058,294)
(14,203,892)
(25,584,092)
Other non-deductible expenses

Taxes and licenses - net
Rental income already subject
to final income tax
Interest income already subject
to final income tax
Non-taxable dividend income
Foreign exchange difference
(19,557,156)
(46,380,280)
Permanent differences - net
Estimasi laba kena pajak
1,077,470,163
787,999,340
Estimated taxable income
Estimasi laba kena pajak Perusahaan (dibulatkan)
1,077,470,000
787,999,000
Estimated taxable income - the

Company (rounded-off)
Beban pajak kini - Perusahaan
215,494,000
157,599,868
Current tax expense - the Company

di muka
Pajak Penghasilan Pasal 23
Pajak Penghasilan Pasal 25
784,053
151,918,758
931,293
166,281,949
Prepayments of income taxes

Income Tax Article 23
Income Tax Article 25
Sub-total
152,702,811
167,213,242
Sub-total
Estimasi Utang Pajak Penghasilan Badan

Perusahaan
Entitas Anak
62,791,189
3,336,381
618,294
Estimated Corporate Income Tax Payables

The Company
Subsidiaries
Total
66,127,570
618,294
Total
102
Annual Report 2012
406

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

e.

e. Current Tax (continued)
Pajak Kini (lanjutan)
31 Des. 2011/
Dec. 31, 2011
As Restated
Note 2r)
31 Des. 2012/
Dec. 31, 2012
EstimasiTagihan Pajak
Penghasilan Pasal 29
Tahun berjalan
Perusahaan
Entitas Anak
Tahun sebelumnya
Perusahaan
Entitas Anak
Total
(9,613,374)
-
(9,014,899)
(9,014,899)
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
As Restated
Note 2r)
(162,531)
(118,947)
(9,732,321)
(162,531)
Estimated Claims for IncomeTax

Refund Article 29
Current year
The Company
Subsidiary
Prior year
The Company
Subsidiary
Total
Based on Government Regulation No. 81/2007

(Gov. Reg. 81/2007), dated December 28,
2007,
regarding
Reduction
of
the
Rate of Income Tax on Resident Corporate Tax
Payers in the Form of Publicly-listed
Companies which became effective on
January 1, 2008 and Ministry of Finance Rule
No. 238/PMK.03/2008 dated December 30,
2008 regarding the Guidelines on the
Implementation and Supervision on the Tariff
Reduction for Domestic Tax Payers in the Form
of Publicly-listed Companies, that resident
publicly-listed companies in Indonesia can
obtain the reduced income tax rate of 5% lower
than the highest income tax rate under Article
17 paragraph 1b of the Income Tax Law,
provided if they meet the prescribed criterias,
which are companies whose shares or other
equity instruments are listed in the Indonesia
Stock Exchange, whose shares owned by the
public is 40% or more of the total paid shares
and such shares are owned by at least 300
parties, each party owning less than 5% of the
total paid up shares.
Berdasarkan Peraturan Pemerintah No. 81

tahun
2007
(PP
81/2007),
tanggal
28 Desember 2007, tentang Penurunan Tarif
Pajak Penghasilan bagi Wajib Pajak Badan
Dalam Negeri yang Berbentuk Perseroan
Terbuka yang berlaku efektif tanggal
1 Januari 2008 dan Peraturan Menteri
Keuangan No. 238/PMK.03/2008 tanggal
30 Desember 2008 tentang Tata Cara
Pelaksanaan dan Pengawasan Pemberian
Penurunan Tarif Bagi Wajib Pajak Badan
Dalam Negeri yang berbentuk Perseroan
Terbuka, perseroan terbuka dalam negeri di
Indonesia dapat memperoleh penurunan tarif
Pajak Penghasilan sebesar 5% lebih rendah
dari tarif tertinggi
Pajak
Penghasilan
sebagaimana diatur dalam Pasal 17 ayat 1b
Undang-undang Pajak Penghasilan, dengan
memenuhi kriteria-kriteria yang ditentukan,
yaitu perseroan yang saham atau efek bersifat
ekuitas lainnya tercatat di Bursa Efek
Indonesia yang jumlah kepemilikan saham
publiknya 40% atau lebih dari keseluruhan
saham yang disetor dan saham tersebut
dimiliki paling sedikit oleh 300 pihak, masingmasing pihak hanya boleh memiliki saham
kurang dari 5% dari keseluruhan saham yang
disetor.
103
Annual Report 2012
407

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

e.

e. Current Tax (continued)
Pajak Kini (lanjutan)

Ketentuan sebagaimana dimaksud harus
dipenuhi oleh perseroan terbuka dalam waktu
paling singkat 6 bulan dalam jangka waktu 1
tahun pajak. Wajib Pajak harus melampirkan
Surat Keterangan dari Biro Administrasi Efek
pada Surat Pemberitahuan Tahunan PPh Wajib
Pajak Badan dengan melampirkan formulir
X.H.1-6 sebagaimana diatur dalam Peraturan
Badan Pengawas Pasar Modal dan Lembaga
Keuangan (Bapepam-LK) No. X.H.1 untuk
setiap tahun pajak terkait.
These requirements should be fulfilled by the

public companies for a year of 6 months in 1
tax year. The Tax Payer should attach the
Notification Letter from the Securities
Administration Agency (Biro Administrasi Efek)
on the Annual Income Tax Return of the Tax
Payer with the form X.H.1-6 as provided in
Bapepam-LK Regulation No. X.H.1 for each
concerned fiscal year.
Pada tanggal 4 Januari 2013, 5 Januari 2012

dan 10 Januari 2011, Perusahaan telah
mendapatkan surat keterangan dari Biro
Administrasi Efek atas pemenuhan kriteriakriteria di atas untuk tahun 2012, 2011 dan
2010. Dampak dari penurunan tarif pajak
tersebut
masing-masing
sebesar
US$53.332.894, Rp348.333.661.917 (setara
dengan
US$38.413.505)
dan
Rp360.482.270.256
(setara
dengan
US$40.093.679) untuk tahun 2012, 2011 dan
2010.
As of January 4, 2013, January 5, 2012 and

January 10, 2011, the Company has obtained
the
notification
letter
from
Securities
Administration Agency (Biro Administrasi Efek)
regarding the fulfillment of such criterias for
2012, 2011 and 2010. The impact of the
changes in such tax rate reduction amounted to
US$53,332,894,
Rp348,333,661,917
(equivalent
to
US$38,413,505)
and
Rp360,482,270,256
(equivalent
to
US$40,093,679) for the years of 2012, 2011
and 2010, respectively.
Pada
tanggal
31
Desember
2012,
31 Desember 2010, akumulasi Selisih
Transaksi
Restrukturisasi
Entitas
Sepengendali, yang merupakan bagian dari
ekuitas pada laporan posisi keuangan
konsolidasian sebesar Rp314.889.945.926
(setara dengan US$35.301.648), terdiri dari
pajak atas laba penjualan aset tetap tahun 2004
sebesar Rp325.519.727.021 (setara dengan
US$36.493.243) dan pajak atas rugi penjualan
aset
tetap
tahun
2006
sebesar
Rp10.629.781.095
(setara
dengan
US$1.191.679).

the accumulated Difference Arising from
Restructuring Transactions among Entities
under Common Control which is
a
component of the equity section in the
consolidated statements of financial position
amounted to Rp314,889,945,926 (equivalent
to US$35,301,648) and consists of tax
on the gain on sale of fixed assets in 2004
amounting to Rp325,519,727,021 (equivalent
to US$36,493,243) and tax on the loss
on
sale
of
fixed
assets
in
2006
amounting to Rp10,629,781,095 (equivalent to
US$1,191,679).
104
Annual Report 2012
408

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

f.

f.
Pajak Tangguhan
The tax effects of significant temporary

differences between commercial and tax
reporting are as follows:
Pengaruh pajak atas beda temporer yang

signifikan antara pelaporan komersial dan pajak
Saldo
Awal per
31 Des. 2011/
Beginning
Balance
Dec. 31, 2011
Deferred Tax
Dibebankan
ke Laporan
Laba Rugi
Komprehensif/
Charged to
Statements of
Comprehensive
Income
Saldo
Akhir per
31 Des. 2012/
Ending
Balance
Dec. 31, 2012
Penyesuaian/
Adjustment
Perusahaan
Aset pajak tangguhan

Kesejahteraan karyawan
Penyesuaian sehubungan
dengan penerapan PSAK
No. 24 (Revisi 2010)
Sub-total
Gaji dan bonus
Cadangan kerugian
penurunan nilai
Penyisihan aset pajak
tangguhan
The Company
13,104,309
17,304,205
11,704,574
11,704,574
13,104,309
4,199,896
11,704,574
29,008,779
Sub-total
8,091,804
Salaries and bonus

Allowance for inventory
obsolescence
7,324,006
767,798
2,774,236
325,659
3,099,895
93,384
232,536
325,920
(2,867,620)
20,428,315
Saldo
Awal per
31 Des. 2011/
Beginning
Balance
Dec. 31, 2011
Entitas Anak
PGASKOM
Aset tetap
Rugi fiskal
4,199,896
(558,195)
4,967,694
Dibebankan
ke Laporan
Laba Rugi
Komprehensif/
Charged to
Statements of
Comprehensive
Income
(3,425,815) Allowance for deferred tax assets
11,704,574
Selisih
Kurs karena
Penjabaran
(Catatan 2c)/
Difference
in Foreign
Currency
Translation
(Note 2c)
37,100,583
324,014
(82,189)
(9,584)
(13,311)
314,430
157,370
252,870
241,825
(22,895)
471,800
91,921
238,873
150,442
(7,065)
(10,172)
231,808
232,191
91,921
389,315
(17,237)
463,999
GAGAS
Rugi fiskal
Bonus
15,607
-
(16,127)
225
91,890
520
-
225
91,890
15,607
75,988
520
92,115
PGASSOL
Aset tetap
Rugi fiskal
PLI

Rugi fiskal
139,989
(4,140 )
135,849
139,989
(4,140)
135,849
105
Saldo
Akhir per
31 Des. 2012/
Ending
Balance
Dec. 31, 2012
252,870
Deferred tax assets

Employees benefits
Adjustment arising from
adoption of PSAK No. 24
(Revised 2010)
Annual Report 2012
The Subsidiaries
PGASKOM
Deferred tax assets
Fixed assets
Fiscal loss
PGASSOL
Deferred tax assets
Fixed assets
Fiscal loss
GAGAS
Deferred tax assets
Fiscal loss
Employees benefits
Bonus
PLI
Deferred tax asset
Fiscal loss
Deferred tax asset - net
409

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

f.

f.
Pajak Tangguhan (lanjutan)

Saldo
Awal per
31 Des. 2011/
Beginning
Balance
Dec. 31, 2011
Transgasindo
Sub-total
1,007,838
Dibebankan
ke Laporan
Laba Rugi
Komprehensif/
Charged to
Statements of
Comprehensive
Income
Deferred Tax (continued)
Selisih
Kurs karena
Penjabaran
(Catatan 2c)/
Difference
in Foreign
Currency
Translation
(Note 2c)
(105,816)
Saldo
Akhir per
31 Des. 2012/
Ending
Balance
Dec. 31, 2012
902,022
527,858
527,858
1,007,838
422,042
1,429,880
1,001,368
549,070
(21,030)
1,001,368
528,040
Transgasindo
Deferred tax assets
Employees benefits
adoption of PSAK No. 24
(Revised 2010)
Sub-total
Cadangan kerugian
penurunan nilai
Bonus
Liabilitas pajak tangguhan
Aset tetap
(5,144,152)
1,534,009
(3,610,143)
Allowance for impairment loses

Bonus
Deferred tax liability
Fixed assets
Liabilitas pajak
tangguhan - neto
(2,585,876)
1,935,021
(650,855)

konsolidasian - neto
20,788,713

(2,585,876 )
Saldo
Awal per
31 Des. 2010/
Beginning
Balance
Dec. 31, 2010
Perusahaan
Gaji dan bonus
Cadangan kerugian
penurunan nilai
tangguhan
Entitas Anak
PGASKOM
Rugi fiskal
PGASSOL
Rugi fiskal
9,537,744
6,090,970
3,067,524
84,685
(3,152,209)
15,628,714
__
38,264,346
(650,855)
Dibebankan
ke Laporan
Laba Rugi
Komprehensif/
Charged to
Statements of
Comprehensive
Income
3,566,565
1,233,036
(293,288)
Consolidated deferred
tax liability - net
Saldo
Akhir per
31 Des. 2011/
Ending
Balance
Dec. 31, 2011
Selisih
Kurs karena
Penjabaran
(Catatan 2c)/
Difference
in Foreign
Currency
Translation
(Note 2c)
13,104,309
7,324,006
2,774,236
8,699
93,384
284,589
4,799,601
The Company
Deferred tax assets
Employees benefits
Salaries and bonus
obsolescence
(2,867,620) Allowance for deferred tax assets

20,428,315
39,274
221,047
(7,451)
252,870
39,274
221,047
(7,451)
252,870
17,001
77,562
(2,642)
91,921
17,001
77,562
(2,642)
91,921
106
tax assets - net
Annual Report 2012

The Subsidiaries
PGASKOM
Deferred tax asset
Fiscal loss
PGASSOL
Deferred tax asset
Fiscal loss
410

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

f.

f.

Saldo
Awal per
31 Des. 2010/
Beginning
Balance
Dec. 31, 2010
GAGAS
Rugi fiskal
Transgasindo
Cadangan kerugian
penurunan nilai
Bonus
Aset tetap
Liabilitas pajak
tangguhan - neto

Saldo
Akhir per
31 Des. 2011/
Ending
Balance
Dec. 31, 2011
Selisih
Kurs karena
Penjabaran
(Catatan 2c)/
Difference
in Foreign
Currency
Translation
(Note 2c)
Dibebankan
ke Laporan
Laba Rugi
Komprehensif/
Charged to
Statements of
Comprehensive
Income
16,127
(520)
15,607
16,127
(520)
15,607
523,593
484,245
1,007,838
619,783
1,001,368
(70,713)
1,001,368
549,070
(6,523,402)
1,379,250
(5,144,152)
(5,380,026)
2,794,150
(2,585,876)
__
GAGAS
Deferred tax asset
Fiscal loss
Transgasindo
Deferred tax assets
Employees benefits
Bonus
Fixed assets

15,684,989
20,788,713
tax assets - net

(5,380,026)
(2,585,876)
tax liability - net
Saldo
Awal per
31 Des. 2009/
Beginning
Balance
Dec. 31, 2009
(Disajikan KembaliCatatan 2r/
Perusahaan
Cadangan kerugian
penurunan nilai
Sub-total
tangguhan
Penyesuaian penyisihan
aset pajak tangguhan
sehubungan dengan penerapan
PSAK No. 55 (Revisi 2006)
Sub-total
Gaji dan bonus
Saldo
Akhir per
31 Des. 2010/
Ending
Balance
Dec. 31, 2010
Selisih
Kurs karena
Penjabaran
(Catatan 2c)/
Difference
in Foreign
Currency
Translation
(Note 2c)
Dibebankan
ke Laporan
Laba Rugi
Komprehensif/
Charged to
Statements of
Comprehensive
Income
The Company
Deferred tax assets
1,137,967

adoption PSAK No. 55
(Revised 2006)
1,380,609
2,518,576
548,948
3,067,524
79,672
5,013
84,685
Sub-total
obsolescence
Allowance for deferred
tax assets
Adjustment of allowance
for deferred tax assets
arising from adoption
PSAK No. 55 (Revised 2006)
(1,217,639)
(1,380,609)
(2,598,248)
6,289,456
5,598,347
(553,961)
3,248,288
492,623
(3,152,209)
9,537,744
6,090,970
11,887,803
3,740,911
15,628,714
107
Annual Report 2012
Sub-total
Employees benefits
Salaries and bonus
411


DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

f.

f.

Saldo
Awal per
31 Des. 2009/
Beginning
Balance
Dec. 31, 2009
Entitas Anak
PGASKOM
Rugi fiskal
PGASSOL
Rugi fiskal
Transgasindo
Bonus
Provisi untuk gaji
Aset tetap
Liabilitas pajak
tangguhan - neto
Dibebankan
ke Laporan
Laba Rugi
Komprehensif/
Charged to
Statements of
Comprehensive
Income

Saldo
Akhir per
31 Des. 2010/
Ending
Balance
Dec. 31, 2010
Selisih
Kurs karena
Penjabaran
(Catatan 2c)/
Difference
in Foreign
Currency
Translation
(Note 2c)
31,435
(4,663)
12,502
39,274
31,435
(4,663)
12,502
39,274
13,273
3,090
638
17,001
13,273
3,090
638
17,001
330,367
336,224
18,060
289,416
187,369
(18,060)
619,783
523,593
-
(6,651,839)
128,437
(6,523,402)
(5,967,188)
587,162
(5,380,026)
__
The Subsidiaries
PGASKOM
Deferred tax asset
Fiscal loss
PGASSOL
Deferred tax asset
Fiscal loss
Transgasindo
Deferred tax assets
Bonus
Employees benefits
Provision for salaries
Fixed assets

11,932,511
15,684,989
tax assets - net

(5,967,188)
(5,380,026)
tax liability - net
The details of deferred tax benefit (expense)

are as follows:
Rincian manfaat (beban) pajak tangguhan

31 Des. 2011/
Dec. 31, 2011
31 Des. 2012/
Dec. 31, 2012
Perusahaan
Pengaruh pajak atas beda temporer
pada tarif pajak maksimum:
Gaji dan bonus
Penyisihan aset pajak tangguhan
1,935,269
325,659
232,536
767,798
(558,195)
3,566,565
(293,288)
8,699
1,233,036
284,589
The Company
The effects of temporary differences at
maximum tax rate:
Employees benefits
Provision for impairment losses
Provision for inventory obsolescence
Salaries and bonus
Valuation allowance
Entitas Anak
Penyusutan
Rugi fiskal
Bonus
2,096,896
252,643
192,115
70,860
-
1,379,250
484,245
314,736
(70,713)
1,001,368
Subsidiaries
Depreciation
Employees benefits
Fiscal loss
Bonus
Provision for impairment losses
Manfaat pajak
tangguhan, neto
5,315,581
7,908,487
108
Annual Report 2012
Deferred tax benefit, net
412

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

f.

f.

The details of deferred tax benefit for
employees benefits presented in the Other
Comprehensive Income are as follows:
Rincian manfaat pajak tangguhan atas

kesejahteraan karyawan yang disajikan dalam
Pendapatan Komprehensif Lainnya sebagai
berikut:
31 Des. 2012/
Dec. 31, 2012
Perusahaan
Manfaat pajak tangguhan atas
kesejahteraan karyawan:
Kerugian aktuaria
Awal tahun
Tahun berjalan
Entitas Anak
Manfaat (beban) pajak tangguhan atas
kesejahteraan karyawan:
Kerugian aktuaria
Awal tahun
Tahun berjalan
Manfaat pajak tangguhan, neto
The Company
Deferred tax benefit for
employees benefits:
Actuarial loss
Beginning of year
Current year
Subsidiary
Deferred tax benefit (expense) for
employees benefits:
Actuarial loss
Beginning of year
Current year
11,704,574
2,264,627
527,858
(358,234)
14,138,825
Deferred tax benefit, net
Aset dan liabilitas pajak tangguhan, selain

akumulasi rugi fiskal, berasal dari perbedaan
metode atau dasar yang digunakan untuk
tujuan
pencatatan
menurut
pelaporan
akuntansi dan pajak, terutama terdiri dari
penyusutan aset tetap, cadangan kerugian
penurunan nilai, penyisihan persediaan usang,
provisi untuk gaji dan bonus karyawan dan
provisi untuk kesejahteraan karyawan.
Deferred tax assets and liabilities, other than

accumulated tax losses, arose from the
difference in the methods or basis used for
accounting and tax reporting purposes, mainly
comprising depreciation on fixed assets,
allowance for impairment losses, allowance for
inventory
obsolescence,
provision
for
employees salaries and bonus and provision
for employees benefits.
Perbedaan dasar pencatatan aset tetap adalah

karena perbedaan estimasi masa manfaat aset
untuk tujuan pelaporan akuntansi dan pajak.
The difference in the basis of recording of fixed

assets is due to the differences in the
estimated useful lives of the assets for
accounting and tax reporting purposes.
Perbedaan
dasar
cadangan
kerugian
penurunan nilai, penyisihan persediaan usang,
provisi untuk gaji dan bonus karyawan dan
penyisihan
manfaat
karyawan
karena
perbedaan waktu pengakuan beban untuk
tujuan pelaporan akuntansi dan pajak.
The differences in the basis of allowance for

impairment losses, allowance for inventory
obsolescence, provision for employees
salaries and bonus and allowance for
employees benefits are due to the difference in
timing of recognition of expenses for
accounting and tax reporting purposes.
Manajemen berpendapat bahwa penyisihan

aset pajak tangguhan adalah cukup untuk
menutup manfaat yang mungkin tidak dapat
direalisasi.
The management believes that the valuation

allowance for deferred tax assets is adequate
to cover the possible that such tax benefits will
not be realized.
Tidak terdapat konsekuensi pajak penghasilan

atas pembayaran dividen oleh Entitas-entitas
Anak domestik dan Entitas Asosiasi kepada
Perusahaan dan Perusahaan bermaksud
memegang investasi tersebut dalam jangka
panjang.
There are no income tax consequences

attached to the payment of dividends by the
local Subsidiaries and Associates to the
Company and the Company intends to hold the
investment for a long-term.
109
Annual Report 2012
413


DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

f.

f.
The reconciliation between tax expense

computed using the prevailing tax rate in 2012
and 2011 on the accounting income before tax
benefit (expense) reported in the consolidated
statements of comprehensive income for the
years ended as of December 31, 2012 and
2011 is as follows:
Rekonsiliasi antara estimasi pajak penghasilan

yang dihitung dengan menggunakan tarif pajak
yang berlaku pada tahun 2012 dan 2011 dari
laba akuntansi sebelum manfaat (beban) pajak
penghasilan seperti yang tercantum dalam
laporan laba rugi komprehensif konsolidasian
31 Desember 2012 dan 2011 adalah sebagai
berikut:
31 Des. 2011/
Dec. 31, 2011
31 Des. 2012/
Dec. 31, 2012
Laba sebelum manfaat
(beban) pajak konsolidasian
Eliminasi laba rugi
1,148,308,027
10,578,636
871,974,017
4,510,371
Consolidated profit before

tax benefit (expense)
Elimination of revenues and expenses
Laba sebelum manfaat (beban)

pajak konsolidasian sebelum eliminasi
1,158,886,663
876,484,388
Consolidated profit before tax benefit (expense)

before elimination
289,721,666
219,121,097
(3,149,012)
(8,278,087)
772,327
1,074,582
Beban pajak dengan tarif pajak 25%

Pengaruh pajak atas beda tetap
Perusahaan dan Entitas Anak
Taksiran rugi fiskal yang tidak diakui pada
Entitas Anak
Pengaruh perbedaan penggunaan tarif dalam
perhitungan pajak tangguhan
Pengaruh penurunan tarif pajak penghasilan
dalam perhitungan pajak kini Perusahaan
Taksiran beban pajak - neto menurut
laporan laba rugi komprehensif
konsolidasian
g.
(94,092)
(206,440)
(54,199,112)
(41,637,654)
233,051,777
Tax expense computed

using rate 25%
Tax effect of the Company and Subsidiaries
permanent differences
Unrecognized estimated tax loss
in Subsidiaries
Effect from different rate used in
deferred tax calculation
Effect of income tax rate reduction used in current tax
computation in the Company
170,073,498
Estimated tax expense - net per

consolidated statements
of comprehensive income
g. Administration
Administrasi
Under the taxation laws of Indonesia, the

Company and Subsidiaries submits tax returns
on the basis of self-assessment. The tax
authorities may assess or amend taxes within
10 years after the date when the tax became
payable. Based on the third amendment of the
general taxation provisions and procedures, the
time limit for assessment is 5 years since the
tax becomes liable and for prior years to 2008,
the time limit will end at the latest on fiscal year
2013.
Berdasarkan peraturan perpajakan Indonesia,

Perusahaan dan Entitas Anak menghitung,
menetapkan dan membayar sendiri jumlah
pajak yang terutang. Direktorat Jenderal Pajak
dapat menetapkan dan mengubah kewajiban
pajak dalam batas waktu 10 tahun sejak
tanggal terutangnya pajak. Menurut perubahan
ketiga atas ketentuan umum dan tata cara
perpajakan, batas waktu tersebut berkurang
menjadi 5 tahun sejak tanggal terutangnya
pajak dan untuk tahun pajak 2008 dan
sebelumnya, batas waktu tersebut berakhir
paling lama pada akhir tahun pajak 2013.
110
Annual Report 2012
414

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

h.

h. Tax Assessment Letters
Surat Ketetapan Pajak

Pada tanggal 11 Maret 2010, Perusahaan

menerima
Surat
Ketetapan
Pajak
Lebih
Bayar
(SKPLB)
Pajak
Pertambahan Nilai No. 00070/407/08/051/10,
No. 00072/407/08/051/10 dan No. 00071/
407/08/051/10 untuk periode Januari, Maret
dan April 2008 sebesar Rp667.180.894.
Perusahaan
telah
menerima
kelebihan
tersebut pada tanggal 5 April 2010.
On March 11, 2010, the Company

has received Tax Assessment Letters
for
Overpayment
(SKPLB)
of
Value-Added Tax No. 00070/407/08/051/10,
No. 00072/407/08/051/10 and No. 00071/407/
08/051/10 for the periods January, March and
April 2008 amounting to Rp667,180,894. The
Company has received such amount on
April 5, 2010.
Pada tanggal 27 April 2010, Perusahaan

menerima SKPLB No. 0032/406/08/051/10
untuk Pajak Penghasilan Badan tahun 2008
sebesar Rp445.027.047.840, Surat Ketetapan
Pajak
Kurang
Bayar
(SKPKB)
No.
00022/201/08/051/10
untuk
Pajak
Penghasilan Pasal 21 tahun 2008 sebesar
Rp26.546.754, SKPKB No. 00007/277/08/
051/10 dan No. 00141/207/08/051/10 untuk
Pajak Pertambahan Nilai periode Februari dan
Mei sampai dengan Desember 2008 dengan
total sebesar Rp463.046.360 dan pada tanggal
yang sama, Perusahaan juga menerima Surat
Tagihan Pajak (STP) atas denda Pajak
Pertambahan Nilai No. 00054/107/08/051/10
sebesar Rp66.160.885.
On April 27, 2010, the Company has received

SKPLB No. 0032/406/08/051/10 of Corporate
Income Tax for the year 2008 amounting to
Rp445,027,047,840, Tax Assessment Letter for
Underpayment
(SKPKB)
No.
00022/
201/08/051/10 of Income Tax Article 21 for the
year 2008 amounting to Rp26,546,754, SKPKB
No. 00007/277/08/051/10 and No. 00141/207/
08/051/10 of Value-Added Tax for the periods
of February and May until December 2008
totaling Rp463,046,360 and at the same date,
the Company also received Tax Claim Letter
(STP) for the Value-Added Tax penalty
No. 00054/107/08/051/10
amounting
to
Rp66,160,885.
Pada tanggal 25 Mei 2010, Perusahaan telah

menerima
kelebihan
tersebut
sebesar
Rp444.471.293.841 setelah dikurangi dengan
pajak kurang bayar dan denda pajak yang
telah disebutkan diatas.
On May 25, 2010, the Company has received

the refund of tax overpayment amounting to
Rp444,471,293,841, net of the abovementioned tax underpayments and tax penalty.
111
Annual Report 2012
415

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

h.

h. Tax Assessment Letters (continued)
Surat Ketetapan Pajak (lanjutan)

Pada tanggal 24 Juni 2010, Perusahaan

menerima SKPLB No. 00118/406/07/051/10
untuk Pajak Penghasilan Badan tahun
2007 sebesar Rp173.722.424.400, Surat
Ketetapan Pajak Kurang Bayar (SKPKB)
No. 00075/203/07/051/10
untuk
Pajak
Penghasilan
Pasal
23
tahun
2007
sebesar
Rp48.437.927,
SKPKB
No. 00005/204/07/051/10
untuk
Pajak
Penghasilan
Pasal
26
tahun
2007
sebesar
Rp14.374.906,
SKPKB
No.
00154/207/07/051/10
dan
No.
00013/277/07/051/10
untuk
Pajak
Pertambahan Nilai Barang dan Jasa tahun
2007 dengan total sebesar Rp335.686.485 dan
pada tanggal yang sama, Perusahaan juga
menerima Surat Tagihan Pajak (STP) atas
denda
Pajak
Pertambahan
Nilai
No.
00016/107/07/051/10
sebesar
Rp43.855.754.
On June 24, 2010, the Company has received

SKPLB No. 00118/406/07/051/10 of Corporate
Income Tax for the year 2007 amounting to
Rp173,722,424,400, Tax Assessment Letter for
Underpayment (SKPKB) No. 00075/203/
07/051/10 of Income Tax Article 23 for the year
2007 amounting to Rp48,437,927, SKPKB
No. 00005/204/07/051/10 of Income Tax
Article 26 for the year 2007 amounting
to
Rp14,374,906,
SKPKB
No.
00154/207/07/051/10
and
No. 00013/277/07/051/10 of Value-Added Tax
for the year 2007 totaling Rp335,686,485 and
at the same date, the Company also received
Tax Claim Letter (STP) for the Value-Added
Tax
penalty
No.
00016/107/07/051/10
amounting to Rp43,855,754.
Pada tanggal 21 Juli 2010, Perusahaan telah

menerima
kelebihan
tersebut
sebesar
Rp173.280.069.328 setelah dikurangi dengan
pajak kurang bayar dan denda pajak yang
telah disebutkan diatas.
On July 21, 2010, the Company has received

the refund of tax overpayment amounting to
Rp173,280,069,328, net of the abovementioned tax underpayments and tax penalty.

menerima surat dari Menteri Keuangan
Republik Indonesia Direktorat Jenderal Pajak
No.
S-00065/RKAP/WPJ.19/KP.0303/2012
mengenai besarnya angsuran PPh Pasal 25
untuk tahun pajak 2012 dengan angsuran per
bulan sebesar Rp138.750.147.272.
On February 16, 2012, the Company

received a letter from the Ministry of
Finance of Republic Indonesia, Directorate
General of Taxation No. S-00065/RKAP/
WPJ.19/KP.0303/2012
regarding
the
installment amount of Income Tax Article 25 for
fiscal year 2012 with monthly installment of
Rp138,750,147,272.

menerima surat dari Menteri Keuangan
Republik Indonesia Direktorat Jenderal Pajak
No. 5-11604/WPJ.19/KP.03/2012 mengenai
penurunan bersama angsuran PPh Pasal 25
untuk masa pajak September sampai dengan
Desember 2012 dari angsuran per bulan
sebesar Rp138.750.147.272 menjadi sebesar
Rp76.392.454.658.
On October 2, 2012, the Company received a

letter from the Ministry of Finance of Republic
Indonesia, Directorate of Taxation No. 5-11604/
WPJ.19/KP.03/2012 regarding the reduction of
the installment amount of Income Tax Article
25 for the tax months of September until
December 2012 from the monthly installment
amounting to Rp138,750,147,272 became
Rp76,392,454,658.
112
Annual Report 2012
416

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

h.

h. Tax Assessment Letters (continued)
Surat Ketetapan Pajak (lanjutan)

PT
Transportasi
Gas
(Transgasindo), Entitas Anak
PT
Transportasi
Gas
(Transgasindo), the Subsidiary
Indonesia
Indonesia
Sehubungan dengan proses restitusi Pajak

Pertambahan Nilai (PPN):
In relation to Value-added Tax (VAT) refund

process:
Selama tahun 2012 dan 2011, Transgasindo

menerima beberapa Surat Ketetapan Pajak
Lebih Bayar (SKPLB) PPN dengan jumlah
keseluruhan sebesar Rp22.331.476.867 dan
Rp53.141.031.089.
Transgasindo
telah
menyetujui seluruh ketetapan pajak tersebut
kecuali untuk Surat Ketetapan Pajak masa
Februari sampai dengan September 2011,
dengan jumlah keberatan pajak sebesar
Rp566.591.836 yang mencerminkan selisih
antara jumlah yang ditetapkan Kantor Pajak
dengan yang ditagih oleh Transgasindo.
During the years of 2012 and 2011,

Transgasindo received several Overpayment
Tax Assessment Letters (SKPLB) with VAT
refund totaling to Rp22,331,476,867 and
Rp53,141,031,089. Transgasindo has agreed to
the above tax assessments, except for Tax
Assessment Letters for the months of February
to September 2011, with tax objection
amounting to Rp566,591,836, which represents
the difference between the amount determined
by the Tax Office with the amount claimed
Transgasindo.
Sampai dengan tanggal 18 Februari 2013,

Transgasindo masih menunggu keputusan dari
Kantor Pajak atas keberatan yang diajukan.
Up to February 18, 2013, Transgasindo is still

waiting for the decision of the remaining tax
objection from Tax Office.
Pada tahun 2012 dan 2011, Transgasindo

menerima hasil restitusi PPN masing-masing
sejumlah Rp19.545.225.779 (setara dengan
US$2.119.333) dan Rp53.291.731.032 (setara
dengan US$6.138.192). Untuk setiap SKPLB
yang telah disetujui Transgasindo, selisih
antara jumlah yang ditagihkan Transgasindo
dengan jumlah yang ditentukan oleh Kantor
Pajak disajikan pada akun Beban Lain-lain
pada laporan laba rugi komprehensif
konsolidasian.
During the years of 2012 and 2011,

Transgasindo received VAT refund totaling
Rp19,545,225,779
(equivalent
to
US$2,119,333)
and
Rp53,291,731,032
(equivalent to US$6,138,192), respectively. For
each SKPLB which has been agreed by
Transgasindo, the difference between the
amount claimed by Transgasindo with the
amount determined by the Tax Office were
presented under Other Expenses account in
income.
Pada tanggal 23 Januari 2013, Transgasindo

juga telah menerima hasil restitusi PPN
sejumlah Rp2.828.692.137 (setara dengan
US$293.250) untuk masa Oktober sampai
dengan Desember 2011.
On January 23, 2013, Transgasindo has also

received VAT refund totaling Rp2,828,692,137
(equivalent to US$293,250) for the months of
October until December 2011.
113
Annual Report 2012
417

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
20. MODAL SAHAM
20. CAPITAL STOCK

The details of the shareholders as of
January 1, 2011/December 31, 2010 based on the
report prepared by PT Datindo Entrycom, the
Securities Administration Agency (Biro Administrasi
Efek), are as follows:
Susunan pemilikan saham Perusahaan pada

tanggal 31 Desember 2012, 31 Desember 2011
berdasarkan catatan yang dibuat oleh PT Datindo
Entrycom, Biro Administrasi Efek, adalah sebagai
berikut:
31 Des. 2012/
Dec. 31, 2012
US$
Lembar Saham/
Number of Shares
Saham Seri A Dwiwarna
0.00
13,809,038,755
195,968,391
56.97
10,430,448,940
148,021,765
43.03
30,000
140,500
426
1,994
0.00
0.00
Series A Dwiwarna Share

1. The Government of
Series B Shares
2. Public and employees
(each below 5%)
3. Management
Djoko Saputro (Director) Hendi Kusnadi (Director) -
24,239,658,196
343,992,576
100.00
Issued and fully paid
1,850,000
26,255
Treasury stock*)
24,241,508,196
344,018,831
Outstanding shares
1. Pemerintah Republik Indonesia

Saham Seri B
2. Masyarakat umum dan karyawan
(masing-masing dibawah 5%)
3. Manajemen
- Djoko Saputro (Direksi)
- Hendi Kusnadi (Direksi)
Ditempatkan dan disetor penuh
Modal saham diperoleh kembali*)
Saham beredar
31 Des. 2011/
Dec. 31, 2011
US$
(Disajikan Kembali Catatan 2r /
Lembar Saham/
Number of Shares

Saham Seri B
3. Manajemen
- Pudja Sunasa (Komisaris)
- Ir. Michael Baskoro P Nugroho, M.M.
(Direktur)
Modal saham diperoleh
kembali*)
Saham beredar
1,000,000
14,191
0.00

Series B Shares
(each below 5%)
3. Management
Pudja Sunasa (Commissioner) Ir. Michael Baskoro P Nugroho, M.M. (Director)
24,239,658,196
343,992,576
100.00
1,850,000
26,255
Treasury stock*)
24,241,508,196
344,018,831
Outstanding shares
0.00
13,809,038,755
195,968,391
56.97
10,428,591,645
147,995,408
43.03
1,027,795
14,586
0.00
114
Annual Report 2012
418

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
20. MODAL SAHAM (lanjutan)
20. CAPITAL STOCK (continued)

31 Des. 2010/
Dec. 31, 2010
US$
(Disajikan Kembali Catatan 2r /
Lembar Saham/
Number of Shares

Saham Seri B
3. Manajemen
- Ir. Michael Baskoro P Nugroho, M.M.
(Direktur)
- Ir. Bambang Banyudoyo, M.Sc.
(Direktur)
Modal saham diperoleh
kembali*)
Saham beredar
*)
720,000
10,218
0.00

Series B Shares
(each below 5%)
3. Management
Ir. Michael Baskoro P Nugroho, M.M. (Director)
Ir. Bambang Banyudoyo, M.Sc. (Director)
24,239,658,196
343,992,576
100.00
1,850,000
26,255
Treasury stock*)
24,241,508,196
344,018,831
Outstanding shares
0.00
13,809,038,755
195,968,391
56.97
10,428,899,440
147,999,776
43.03
1,000,000
14,191
0.00
Nilai harga perolehan pembelian kembali saham adalah

sebesar US$251.054.
*)
The acquisition cost of the treasury stock amounted to

US$251,054.
Saham Seri A Dwiwarna merupakan saham yang

memberikan kepada pemegangnya hak-hak untuk
mencalonkan Direksi dan Komisaris, menghadiri
dan menyetujui pengangkatan dan pemberhentian
Komisaris dan Direksi, perubahan Anggaran Dasar
termasuk perubahan modal, pembubaran dan
likuidasi,
penggabungan,
peleburan
dan
pengambilalihan Perusahaan.
Series A Dwiwarna share represents share which

provides the holder rights to propose Directors
and Commissioners, attend and approve the
appointment and dismissal of Commissioners and
Directors, change in Articles of Association
including changes in capital, closure and
liquidation, merger and acquisition of the
Company.
Perusahaan telah mencatatkan sahamnya pada

Bursa Efek Indonesia sebanyak 24.241.508.196
lembar saham pada tanggal 31 Desember 2012.
The Company has listed its shares on the

Indonesia
Stock
Exchange
totaling
to
24,241,508,196 shares as of December 31, 2012.
115
Annual Report 2012
419

DAN ENTITAS ANAK
KONSOLIDASIAN
21. PENCADANGAN
SALDO
PEMBAGIAN LABA
LABA

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
DAN
21. APPROPRIATIONS OF RETAINED EARNINGS

AND DISTRIBUTIONS OF INCOME
Berdasarkan Risalah Rapat Umum Pemegang

Saham Tahunan yang diadakan pada tanggal
22 Mei 2012, para pemegang saham menyetujui
keputusan-keputusan, sebagai berikut:
Based on the Minutes of the Companys Annual

General
Shareholders
Meeting
held
on
May 22, 2012, the shareholders ratified the
following decisions, as follows:
1.
Pembagian
dividen
tunai
sebesar
Rp3.263.184.778.516 atau 55% dari laba neto
tahun
buku
2011
(setara
dengan
US$352.205.589) Atas dividen final tersebut
telah dibagikan dalam bentuk dividen interim
sebesar Rp263.485.084.590 pada tanggal
8 November 2011. Dengan demikian sisa
sebesar Rp2.999.699.693.926 atau Rp123,75
per saham akan dibagikan secara tunai.
1.
Distribution
of
cash
dividends
of
Rp3,263,184,778,516 or 55% of net income in
2011 (equivalent to US$352,205,589). Such
final dividends have been partially distributed
in the form of interim dividends for the amount
of Rp263,485,084,590 on November 8, 2011.
Therefore, the remaining cash dividends
amounting
to
Rp2,999,699,693,926
or
Rp123.75 per share will be distributed as cash
dividends.
2.
Sebesar Rp118.661.264.673 atau 2% dari laba

neto tahun buku 2011 dialokasikan unutk
Program
Kemitraan
(setara
dengan
US$12.807.476).
2.
Amount of Rp118,661,264,673 or 2% of 2011

net income to be allocated for Partnership
Program (equivalent to US$12,807,476).
3.

neto tahun buku 2011 dialokasikan untuk
Program Bina Lingkungan (setara dengan
US$12.807.476).
3.
Amount of Rp118,661,264,673 or 2% of 2011

net income to be allocated for Community
Development
Program
(equivalent
to
US$12,807,476).
4.
Sisanya akan dicatat sebagai saldo laba untuk

mendukung
kegiatan
operasional
dan
pengembangan Perusahaan.
4.
The remaining amount will be appropriated as

retained earnings to support the operational
activities and the Companys expansion.
5.
Kepada Direksi diberikan wewenang untuk

mengatur lebih lanjut tata cara pembagian
dividen tersebut dan mengumumkannya
dengan
memperhatikan
peraturan
dan
perundangan yang berlaku.
5.
To give authority to the Board of Directors to

prepare and publish the cash dividends
distribution procedures with consideration of
the prevailing laws and regulations.

27 Juni 2011, para pemegang saham menyetujui

General
Shareholders
Meeting
held
on
June 27, 2011, the shareholders ratified the
1.
1.
Pembagian
dividen
tunai
sebesar
Rp3.743.616.762.287 atau 60% dari laba
bersih tahun buku 2010 (setara dengan
US$435.557.506). Atas dividen final tersebut
telah dibagikan dalam bentuk dividen sebesar
Rp247.244.488.099
pada
tanggal
3 Desember 2010. Dengan demikian sisa
116
Distribution
of
cash
dividends
of
Rp3,743,616,762,287 or 60% of net income
in 2010 (equivalent to US$435,557,506).
Such final dividends have been partially
distributed in form of dividends for the amount
of Rp247,244,488,099 on December 3, 2010.
amounting to Rp3,496,372,274,188 or
Rp144.24 per share will be distributed as
cash dividends
Annual Report 2012
420

DAN ENTITAS ANAK
KONSOLIDASIAN
21. PENCADANGAN
SALDO
PEMBAGIAN LABA (lanjutan)
LABA

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
DAN

AND DISTRIBUTIONS OF INCOME (continued)
2.
Sebesar Rp124.787.225.410 atau 2% dari

laba bersih tahun buku 2010 dialokasikan
untuk Program Kemitraan (setara dengan
US$14.518.584).
2.
Amount of Rp124,787,225,410 or 2% of 2010

net income to be allocated for Partnership
Program (equivalent to US$14,518,584).
3.
Sebesar Rp124.787.225.410 atau 2% dari

untuk Program Bina Lingkungan (setara
dengan US$14.518.584).
3.
Amount of Rp124,787,225,410 or 2% of 2010

Program
(equivalent
to
Development
US$14,518,584).
4.

mendukung
kegiatan
operasional
dan
4.
The remaining amount will be appropriated as

retained earnings to support the Companys
operational activities and expansion.
5.
Memberikan kewenangan kepada direksi

Perusahaan
untuk
mengatur
dan
mengumumkan pembagian dividen sesuai
dengan peraturan perundangan yang berlaku.
5. To authorize the Companys directors to

distribution procedures in compliance with the
prevailing laws.

17 Juni 2010, para pemegang saham menyetujui

General
Shareholders
Meeting
held
on
June 17, 2010, the shareholders ratified the
1.
Pembagian
dividen
tunai
sebesar
Rp3.737.755.293.823 atau 60% dari laba
bersih tahun buku 2009 (setara dengan
US$407.740.296). Atas dividen final tersebut
telah dibagikan dalam bentuk dividen sebesar
Rp242.396.581.960
pada
tanggal
23 Desember 2009. Dengan demikian sisa
1.
2.
Sebesar Rp25.453.774.707 dari laba bersih

tahun buku 2009 ditetapkan sebagai
cadangan wajib untuk memenuhi ketentuan
Undang-undang Perseroan Terbatas No. 40
tahun 2007 (setara dengan US$2.776.674).
2. Amount of Rp25,453,774,707 from 2009 net

income was appropriated for mandatory reserve
to comply with the Company Law No. 40 year
2007 (equivalent to US$2,776,674).
3.

bersih tahun buku 2009 dialokasikan untuk
Program
Kemitraan
(setara
dengan
US$6.795.073).
3. Amount of Rp62,290,434,963 or 1% of 2009 net

income to be allocated for Partnership Program
(equivalent to US$6,795,073).
117
Distribution
of
cash
dividends
of
Rp3,737,755,293,823 or 60% of net income in
2009 (equivalent to US$407,740,296). Such
final dividends have been partially distributed in
form of
dividends for the amount of
Rp242,396,581,960 on December 23, 2009.
amounting to Rp3,495,358,711,863 or Rp144.2
per share will be distributed as cash dividends.
Annual Report 2012
421


DAN ENTITAS ANAK
KONSOLIDASIAN
21. PENCADANGAN
SALDO
PEMBAGIAN LABA (lanjutan)
LABA

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
DAN

AND DISTRIBUTIONS OF INCOME (continued)
4.
Sebesar Rp93.435.652.445 atau 1,5% dari

untuk Program Bina Lingkungan (setara
dengan US$10.192.610).
4. Amount of Rp93,435,652,445 or 1.5% of 2009

Development
Program
(equivalent
to
US$10,192,610).
5.

mendukung
kegiatan
operasional
dan
5. The remaining amount will be appropriated as

retained earnings to support the Companys
operational activities and expansion.
6.
Memberikan kewenangan kepada direksi

Perusahaan
untuk
mengatur
dan
mengumumkan pembagian dividen sesuai
dengan peraturan perundangan yang berlaku.
6.
22. PENDAPATAN NETO
To authorize the Companys directors to

distribution procedures in compliance with
prevailing laws.
22. NET REVENUES

31 Des. 2011/
Dec. 31, 2011
31 Des. 2012/
Dec. 31, 2012
Distribusi gas - setelah penyesuaian
pendapatan
Transmisi gas
Sewa fiber optik
Lain-lain
2,366,205,160
199,999,400
9,803,747
484,730
2,045,902,062
174,910,752
9,376,102
208,160
Gas distribution - net of sales adjustments

Gas transmission
Fiber optic rental
Others
Total, Neto
2,576,493,037
2,230,397,076
Total, Net
Penyesuaian pendapatan merupakan koreksi faktur

pelanggan melalui rekonsiliasi atas penggunaan
gas antara Perusahaan dan pelanggan.
The revenue adjustments pertain to corrections

made to customers invoices upon reconciliation of
the gas consumption between the Company and
the customers.
Sewa
fiber
optik
merupakan
pendapatan
PGASKOM atas penyediaan jaringan kepada para
pelanggan.
Fiber optic rental represents PGASKOMs

revenues of network services to the customers.
Pendapatan lain-lain merupakan pendapatan

PGASSOL atas penyediaan jasa konstruksi dan
perawatan kepada pelanggannya.
Other revenue represents PGASSOLs revenues

of construction and maintenance service to the
customers.
Pendapatan gas bumi terdiri dari distribusi gas

kepada:
Natural gas revenues consist of gas distribution to:

31 Des. 2011/
Dec. 31, 2011
31 Des. 2012/
Dec. 31, 2012
Industri
Komersial
Rumah tangga
Stasiun Pengisian Bahan Bakar Gas (SPBG)
2,310,217,752
50,496,129
5,491,279
-
2,000,128,859
38,499,221
6,016,512
1,257,470
Industrial
Commercial
Households
Fuel Gas Filling Stations (SPBG)
Total
2,366,205,160
2,045,902,062
Total
118
Annual Report 2012
422


DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
22. PENDAPATAN NETO (lanjutan)
22. NET REVENUES (continued)
Pendapatan neto dari pelanggan yang melebihi

10% dari total pendapatan neto konsolidasian
adalah pendapatan dari PT PLN (Persero), entitas
berelasi dengan Pemerintah, masing-masing
sebesar US$400.063.990 atau 15,53% dan
US$333.815.655
atau
14,97%
dari
total
pendapatan neto konsolidasian untuk tahun yang
berakhir pada tanggal-tanggal 31 Desember 2012
dan 2011.
Net revenues from customer in excess of 10% of

the total consolidated net revenues are revenue
from PT PLN (Persero), Government-related entity,
which amounted to US$400,063,990 or 15.53%
and US$333,815,655 or 14.97% of the total
consolidated net revenues for the years ended
December 31, 2012 and 2011.
Kelompok Usaha melakukan transaksi penjualan

dengan entitas berelasi dengan Pemerintah,
dengan total masing-masing sebesar 23,64% dan
23,49% dari total pendapatan neto konsolidasian di
atas untuk tahun yang berakhir pada tanggaltanggal 31 Desember 2012 dan 2011.
The Group enters into sales transactions with the

Government-related entities, totaling 23.64% and
23.49% of its consolidated net revenues above
for the years ended December 31, 2012 and 2011,
respectively.
23. BEBAN POKOK PENDAPATAN
23. COST OF REVENUES

This account consists of natural gas purchases
from:
Akun ini terdiri dari pembelian gas bumi dari:
31 Des. 2011/
Dec. 31, 2011
31 Des. 2012/
Dec. 31, 2012
Pihak ketiga
(Catatan 32)
Total
776,057,899
602,467,531
328,043,834
286,000,312
1,104,101,733
888,467,843
Third parties
(Note 32)
Total
Pembelian neto dari pemasok yang melebihi 10%

dari total pendapatan neto konsolidasian adalah
pembelian dari Pertamina, entitas berelasi dengan
Pemerintah, dan ConocoPhillips masing-masing
sebesar US$328.043.834 atau 12,73% dan
US$392.151.565
atau
15,22%
dari
total
pendapatan neto konsolidasian untuk tahun yang
berakhir pada tanggal 31 Desember 2012 dan
pembelian dari Pertamina dan ConocoPhillips
masing-masing sebesar US$286.000.312 atau
12,82% dan US$287.929.710 atau 12,91% dari
total pendapatan neto konsolidasian untuk tahun
yang berakhir pada tanggal 31 Desember 2011.
Net purchases from suppliers involving

purchases in excess of 10% of the total
consolidated net revenues are for purchases
from Pertamina, a Government-related entity,
and
ConocoPhillips
amounting
to
US$328,043,834
or
12.73%
and
US$392,151,565 or 15.22% of the total
consolidated net revenues for the year ended
December 31, 2012, respectively, and
purchases from Pertamina and ConocoPhillips
amounting to US$286,000,312 or 12.82% and
US$287,929,710
or
12.91%
of
total
consolidated net revenues for the year ended
December 31, 2011, respectively.
Kelompok Usaha melakukan transaksi pembelian

gas dengan entitas berelasi dengan Pemerintah,
dengan total masing-masing sebesar 29,71% dan
32,19% dari total beban pokok pendapatan
konsolidasian di atas untuk tahun yang berakhir
pada tanggal-tanggal 31 Desember 2012 dan
2011.
The Group enters into purchase transactions

with the Government-related entities, totalling
29.71% and 32.19% of its consolidated cost of
revenues above for the years ended
December 31, 2012 and 2011, respectively.
119
Annual Report 2012
423


DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
24. BEBAN DISTRIBUSI DAN TRANSMISI
24. DISTRIBUTION
EXPENSES
31 Des. 2011/
Dec. 31, 2011
31 Des. 2012/
Dec. 31, 2012
Penyusutan (Catatan 13)
Perbaikan dan pemeliharaan
luran BPH Migas
Honorarium profesional
Bahan bakar dan bahan kimia
Asuransi
Perjalanan dinas dan transportasi
Peralatan dan suku cadang
Sewa
Peralatan kantor
Pendidikan dan pelatihan
Amortisasi
Listrik dan air
Komunikasi
Material umum
Perayaan
Pajak dan perizinan
Lain-lain
174,819,070
41,392,899
16,523,793
11,309,710
5,946,072
5,441,520
2,936,311
2,761,331
2,452,463
1,148,946
747,943
738,196
547,333
340,398
308,022
300,937
272,800
225,981
48,552
1,632,492
181,125,055
45,314,282
13,378,339
9,298,003
8,273,409
4,564,279
3,136,858
3,349,977
3,344,020
2,337,841
875,027
699,808
305,864
773,692
295,009
276,119
241,280
467,709
101,712
2,068,643
Total
269,894,769
280,226,926
25. BEBAN UMUM DAN ADMINISTRASI
25. GENERAL
EXPENSES
Depreciation (Note 13)

Salaries and employees benefits
Repairs and maintenance
BPH Migas levy
Professional fees
Fuel and chemicals
Insurance
Traveling and transportation
Tools and spare parts
Rental
Office supplies
Education and trainning
Amortization
Electricity and water
Communications
General materials
Celebration
Taxes and licenses
Others
Total
AND
ADMINISTRATIVE
31 Des. 2011/
Dec. 31, 2011
31 Des. 2012/
Dec. 31, 2012
Total
TRANSMISSION

Honorarium profesional
Sewa
Penyusutan (Catatan 13)
Perjalanan dinas dan transportasi
Promosi
Pendidikan dan pelatihan
Pajak dan perizinan
Peralatan kantor
Komunikasi
Asuransi
Cadangan kerugian penurunan
nilai (Catatan 7 dan 8)
Biaya bank
Bahan bakar dan bahan kimia
Listrik dan air
Perayaan
Amortisasi
Tanggung jawab sosial
dan bina lingkungan (Catatan 33)
Peralatan dan suku cadang
Material umum
Pakaian dinas
Lain-lain
AND
83,087,327
42,105,810
16,428,589
14,585,685
6,321,129
5,858,535
4,842,334
4,760,486
3,724,313
3,166,702
2,576,929
2,392,427
2,045,332
82,926,763
24,806,610
13,984,857
11,702,751
6,211,959
4,862,411
4,558,303
4,308,623
3,615,372
3,286,579
1,769,306
1,844,244
2,204,729
1,906,639
1,838,152
1,742,881
1,538,993
1,298,297
859,508
2,889,522
956,963
1,173,912
1,623,254
1,272,572
1,249,101
736,970
678,087
634,710
274,505
985,594
852,641
863,479
502,734
195,825
594,981
Salaries and employees benefits

Professional fees
Rental
Depreciation (Note 13)
Traveling and transportation
Promotion
Education and trainning
Taxes and licenses
Office supplies
Communications
Insurance
Allowance for impairment
losses (Notes 7 and 8)
Bank charges
Fuels and chemicals
Electricity and water
Celebration
Amortization
Corporate Social Responsibility and
Community Development (CSR) (Note 33)
Tools and spare parts
General materials
Employees uniform
Others
204,389,934
178,257,491
Total
120
Annual Report 2012
424

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
26. BEBAN KEUANGAN
26. FINANCE COST

31 Des. 2011/
Dec. 31, 2011
31 Des. 2012/
Dec. 31, 2012
Penerusan pinjaman dari Pemerintah Republik
Indonesia yang didanai oleh:
- Japan Bank for International Cooperation
- International Bank for Reconstruction
and Development
- European Investment Bank
- Asian Development Bank
Corporation Ltd.
Total
7,802,255
8,985,286
3,158,398
2,741,723
340,605
2,910,221
3,192,759
2,012,398
5,219,765
2,313,926
-
6,421,029
2,532,772
1,655,101
Two-step loans from the Government of the

Republic of Indonesia funded by:
Japan Bank for International Cooperation International Bank for Reconstruction and Development
European Investment Bank Asian Development Bank The Hongkong and Shanghai Banking
Corporation Ltd.
21,576,672
27,709,566
Total
27. PENDAPATAN KEUANGAN
27. FINANCE INCOME

31 Des. 2011/
Dec. 31, 2011
31 Des. 2012/
Dec. 31, 2012
Bunga deposito
Bunga investasi obligasi
Bunga jasa giro
Bunga pinjaman dari pemegang saham
21,820,212
4,327,244
1,628,733
47,947
33,197,806
381,124
1,528,186
-
Interest of time deposits

Interest from investment in bond
Interest of current accounts
Interest from shareholder loan
Total
27,824,136
35,107,116
Total
28. INSTRUMEN KEUANGAN DERIVATIF
28. DERIVATIVE FINANCIAL INSTRUMENT

Nilai Wajar dalam Rupiah/Fair Value in Rupiah
Total
Nosional/
Notional
Amount
ABN Amro cross currency swap
JPY19,420,211,744
31 Des. 2012/
Dec. 31, 2012
Utang/
Payable
31 Des. 2011/
Dec. 31, 2011
Utang/
Payable
87,115,630
121
178,315,793
Annual Report 2012
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
Utang/
Payable
188,620,017
ABN Amro cross currency swap
425

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
28. INSTRUMEN KEUANGAN DERIVATIF (lanjutan)
28. DERIVATIVE
(continued)
FINANCIAL
INSTRUMENT

mengadakan kontrak cross currency swap dengan
ABN AMRO Bank N.V. (ABN) Cabang London,
dimana Perusahaan menyetujui untuk menerima
bunga Yen Jepang (JPY) dikalikan 35% dan
menyetujui untuk membayar bunga pada tingkat
0% untuk tahun tanggal 15 Oktober 2006 sampai
15 Oktober 2008 dan untuk tahun selanjutnya
sampai berakhir kontrak tersebut yaitu pada
15 Maret 2019, membayar bunga sebesar selisih
tingkat tertentu (strike) sebagaimana diatur dalam
perjanjian dengan rata-rata nilai tukar Dolar AS
dengan Yen Jepang (US$/JPY) dibagi seratus atau
0%, mana yang lebih tinggi.
On February 16, 2007, the Company entered into a

cross currency swap contract with ABN AMRO Bank
N.V. (ABN), London Branch, whereby the Company
agreed to receive Japanese Yen (JPY) interest
multiplied by 35% and agreed to pay interest at 0%
for the year from October 15, 2006 to
October 15, 2008, and for the year thereafter
through to the maturity date, March 15, 2019, to pay
interest at the difference between a certain rate
(strike) as stipulated in the agreement with the US
Dollar average exchange rate with the Japanese
Yen (US$/JPY) divided by one hundred or 0%,
whichever is higher.
Pada tanggal 19 Agustus 2008, Perusahaan

mengadakan perubahan atas kontrak cross
currency swap dengan ABN AMRO Bank N.V.
(ABN), Cabang London, dimana Perusahaan
menyetujui untuk menerima bunga sebesar bunga
Yen Jepang (JPY) dikalikan 42% dan menyetujui
untuk membayar bunga pada tingkat 0% untuk
tahun tanggal 15 Oktober 2006 sampai 15 Oktober
2008 dan untuk tahun selanjutnya sampai berakhir
kontrak tersebut yaitu pada 15 Maret 2019,
membayar bunga sebesar selisih tingkat tertentu
(strike)
sebagaimana diatur dalam perjanjian
dengan rata-rata nilai tukar Dolar AS dengan Yen
Jepang (US$/JPY) dibagi seratus atau pada tingkat
0%, mana yang lebih tinggi, dan tambahan bunga
5% dikalikan jumlah hari apabila tingkat CMS 10
tahun sama atau diluar kisaran tingkat tertentu
dibagi dengan jumlah hari pada tahun tersebut.
On August 19, 2008, the Company entered into an

amendment of the cross currency swap contract with
ABN AMRO Bank N.V. (ABN), London Branch,
whereby the Company agreed to receive Japanese
Yen (JPY) interest multiplied by 42% and to pay
interest at the rate of 0% for the year from
October 15, 2006 to October 15, 2008, and for the
year
thereafter
to
the
maturity
date,
March 15, 2019, to pay interest at the difference
between the strike rate as stipulated in the
agreement with the US Dollar average exchange
rate with the Japanese Yen (US$/JPY) divided by
one hundred or at 0%, whichever is higher plus
additional interest of 5% multiplied by number of
days if the CMS 10 years rate is at or outside a
certain range divided by the total number of days for
such year.
Sebagai tambahan, Perusahaan juga menyetujui

untuk menerima Yen Jepang dalam jumlah
sebagaimana diatur dalam perjanjian selama nilai
tukar US$/JPY berada pada atau di bawah 121,50
pada setiap akhir tahun yang disepakati dan
menyetujui untuk membayar sejumlah Dolar AS
dengan nilai tukar US$/JPY sebesar 121,50.
Apabila nilai tukar US$/JPY berada di atas 121,50,
tidak ada transaksi cross currency swap yang akan
dilakukan.
In addition, the Company also agreed to receive

Japanese Yen in the amount stipulated in the
agreement, as long as the US$/JPY exchange rate
is at or below 121.50 at the end of the agreed year
and to pay US dollar amount with exchange rate of
US$/JPY of 121.50. If US$/JPY is at or above
121.50, there will be no exchange of cross currency
swap.
Kontrak ini berlaku efektif sejak tanggal

15 Oktober 2006 dan akan berakhir pada tanggal
15 Maret 2019. Perusahaan melakukan lindung
nilai atas perubahan nilai wajar kewajiban dari
risiko fluktuasi nilai tukar US$/JPY, sehubungan
dengan pinjaman jangka panjang yang diperoleh
dari JBIC.
This
contract
became
effective
starting
October 15, 2006 and will expire on March 15, 2019.
The Company hedges the changes in the fair value
of its liabilities due to risk of the foreign exchange
rate fluctuation of US$/JPY, in relation to the longterm loan obtained from JBIC.
122
Annual Report 2012
426

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
28. INSTRUMEN KEUANGAN DERIVATIF (lanjutan)
28. DERIVATIVE
(continued)
FINANCIAL
INSTRUMENTT
Perusahaan
menggunakan
teknik
penilaian
penentuan harga opsi dan disesuaikan dengan
risiko
kredit
sebesar
US$4.518.734,
US$35.805.327 dan US$43.744.279
masingmasing pada tanggal 31 Desember 2012,
31 Desember 2011 dan 1 Januari 2011/31
Desember 2010.
The Company used option pricing valuation

technique
adjusted
with
credit
risk
of
US$4,518,734,
US$35,805,327
and
US$43,744,279
December 31, 2011 and
January 1,
2011/December 31, 2010, respectively.
Perubahan neto nilai wajar atas instrumeninstrumen derivatif di atas disajikan pada akun
Laba (Rugi) Perubahan Nilai Wajar Derivatif Neto pada laporan laba rugi komprehensif
konsolidasian.
The net changes in the fair values of the above

derivative instruments were presented in account
Gain (Loss) on Change in Fair Value of
Derivative-Net in the consolidated statements of
29. LABA (RUGI) KURS - NETO
29. GAIN (LOSS) ON FOREIGN EXCHANGE - NET
Laba (rugi) selisih kurs terutama berasal dari

penyesuaian aset dan kewajiban dalam mata uang
asing dan perbedaan nilai tukar transaksi dari
kegiatan usaha Perusahaan dalam mata uang
asing.
Gain (loss) on foreign exchange mainly results

from restatements of assets and liabilities in foreign
currencies and differences in exchange rates on
the
Companys
operational
transactions
denominated in foreign currencies.
Selama tahun 2012 dan 2011, Perusahaan

mengalami laba (rugi) selisih kurs - neto yang
disebabkan oleh menguatnya (melemahnya) nilai
tukar Dolar AS terhadap mata uang asing,
khususnya Yen Jepang yang mengakibatkan
penurunan (kenaikan) posisi liabilitas neto dalam
mata uang asing Perusahaan.
During 2012 and 2011, the Company incurred gain

(loss) on foreign exchange - net due to
strengthening (weakening) of US Dollar against
foreign currency, especially Japanese Yen which
decreased (increased) the net foreign currency
denominated liabilities of the Company.
30. IMBALAN KERJA
30.
EMPLOYEE BENEFITS
The Group provides short-term employee benefits,
retirement and other employees benefits to its
active and retired employees, as follows:
Kelompok Usaha menyediakan imbalan kerja

jangka pendek, pensiun dan kesejahteraan
karyawan Iainnya untuk seluruh karyawan tetap
yang masih aktif dan yang sudah pensiun sebagai
berikut:
a. Short-term employees benefits liabilities
a. Liabilitas Imbalan Kerja Jangka Pendek
Short-term employee benefit liabilities as of

January 1, 2011/ December 31, 2010 represent
bonus accruals for employees amounting to
Rp328,279,686,300
(equivalent
to
US$33,948,261),
Rp284,624,220,973
(equivalent
to
US$31,387,761)
and
Rp234,639,388,470,
(equivalent
to
US$26,097,140)
respectively
for
the
Company
and
Rp32,439,905,879
(equivalent
to
US$3,354,696),
Rp24,037,955,619
(equivalent
to
US$2,650,855)
and
Rp23,651,867,159
(equivalent to US$2,630,616) respectively, for
the Subsidiaries.
Liabilitas imbalan kerja jangka pendek pada

pada
tanggal
31
Desember
2012,
31 Desember 2010 merupakan akrual bonus
untuk karyawan masing-masing sebesar
Rp328.279.686.300
(setara
dengan
US$33.948.261), Rp284.624.220.973 (setara
dengan
US$31,387,761)
dan
Rp234.639.388.470
(setara
dengan
US$26,097,140) untuk Perusahaan dan
masing-masing sebesar Rp32.439.905.879
(setara
dengan
US$3.354.696),
Rp24.037.955.619
(setara
dengan
US$2.650.855) dan Rp23.651.867.159 (setara
dengan US$2.630.616) untuk Entitas Anak.
123
Annual Report 2012
427

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
30. IMBALAN KERJA (lanjutan)

a.
b.
30.
Liabilitas Imbalan Kerja Jangka Pendek

(lanjutan)
a. Short-term employees benefits liabilities

(continued)
Pada tanggal 31 Desember 2010, akun ini

juga mencakup akrual gaji yang merupakan
pembayaran gaji tambahan atas periode
Desember
2010
yang
dibayarkan
Perusahaan pada bulan Januari 2011 senilai
Rp2.352.327.412
(setara
dengan
US$261.631).Hal
tersebut
disebabkan
adanya perubahan komposisi gaji karyawan
sesuai sistem pengupahan baru berdasarkan
SK Direksi No. 022200.K/KP.05/UM/2010,
tanggal 28 Desember 2010 yang berlaku
efektif pada tanggal 1 Desember 2010.
As of December 31, 2010 this account also

includes of accrued salary which represents
additional employees salaries payments for the
period of December 2010, which were paid by
the Company in January, 2011 amounting to
Rp2,352,327,412 (equivalent to US$261,631).
This condition was due to the changes in
employees salaries composition according to
new payroll system based on Directors
Decision Letter No. 022200.K/KP.05/UM/2010,
dated December 28, 2010 which is effective on
December 1, 2010.
PT Asuransi Jiwasraya (Persero)
b. PT Asuransi Jiwasraya (Persero)

Since 1991, the Company has an old welfare
program age insurance plan for all its qualified
permanent employees, which is covered in a
cooperative agreement with PT Asuransi
Jiwasraya (Persero). The Company has paid all
of its liabilities in 2008.
Sejak tahun 1991, Perusahaan mempunyai

program asuransi kesejahteraan hari tua
kepada seluruh karyawan tetap yang
memenuhi persyaratan, yang ditetapkan
dalam suatu perjanjian bersama dengan
PT Asuransi
Jiwasraya
(Persero).
Perusahaan
telah
membayar
seluruh
kewajibannya pada tahun 2008.
c.
EMPLOYEE BENEFITS (continued)
Yayasan Kesejahteraan
Pensiunan Gas Negara
Pegawai
dan
c. Yayasan
Kesejahteraan
Pegawai
Pensiunan Umum Gas Negara
dan
Perusahaan
menyediakan
tambahan
tunjangan kesehatan bagi para pensiun, yang
ditetapkan oleh perjanjian bersama dengan
Yayasan
Kesejahteraan Pegawai
dan
Pensiunan Gas Negara (YKPP Gas Negara).
Pada tahun yang berakhir pada tanggaltanggal 31 Desember 2012 dan 2011, tidak
terdapat pembayaran kepada Yakaga.
The Company provides additional postretirement health care benefits for its retired
employees, as covered in a cooperative
agreement with Yayasan Kesejahteraan
Pegawai dan Pensiunan Gas Negara (YKPP
Gas Negara). For the years ended December
31, 2012 and 2011, there were no contributions
to Yakaga.
luran kepada Yakaga yang terakumulasi

mencakup sebesar Rp11,2 milyar untuk dana
sosial, pendidikan dan tunjangan pensiun
Iainnya bagi karyawan Perusahaan yang aktif
dan pensiun, yang dicadangkan dari
pendapatan Perusahaan untuk periode 1984
sampai dengan 1996, sebelum Perusahaan
menjadi
perusahaan
perseroan.
luran
tersebut disahkan dengan Surat Dewan
Komisaris pada tanggal 30 Juni 1999.
The accumulated contributions to Yakaga

include Rp11.2 billion for social, education and
additional retirement benefits for the Companys
active and retired employees which were
appropriated from the Companys eamings for
the period 1984 up to 1996, prior to the
Company becoming a state-owned limited
liability company. This contribution was
approved by the Board of Commissioners
in its letter dated June 30, 1999.
124
Annual Report 2012
428

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

c.
d.
Yayasan Kesejahteraan Pegawai

Pensiunan Gas Negara (lanjutan)
30.
dan

c. Yayasan
Kesejahteraan
Pegawai
Pensiunan Gas Negara (continued)
dan
Pada
tanggal
30
November
2012,
Perusahaan juga menyediakan tambahan
tunjangan kesehatan hari tua bagi seluruh
karyawan tetap, para pensiunan dan mantan
direksi yang ditetapkan oleh perjanjian
bersama dengan Yayasan Kesejahteraan
Pegawai dan Pensiunan Gas Negara (YKPP
Gas Negara). Sumber dana program pensiun
berasal dari kontribusi karyawan/anggota
direksi dan Perusahaan masing-masing
sebesar 3% dan 5% dari penghasilan dasar.
Pada tahun yang berakhir pada tanggaltanggal 31 Desember 2012 dan 2011, total
pembayaran kepada YKPP Gas Negara
masing-masing sebesar Rp24.000.000.000
(setara dengan US$2.478.058) dan nihil, dan
disajikan sebagai bagian dari akun Beban
Operasi dan Gaji dan Kesejahteraan
Karyawan
dalam
laporan
laba
rugi
On November 30, 2012, the Company also

provides additional post-retirement health care
benefits for its eligible permanent employees,
retired employees and ex member of directors,
as covered in a cooperative agreement with
dan
Yayasan
Kesejahteraan
Pegawai
Pensiunan Gas Negara (YKPP Gas Negara).
The
fund
is
contributed
by
both
employees/member of directors and the
Company with contribution of 3% and 5% from
the basic income. For the years ended
December 31, 2012 and 2011, the total
contributions to YKPP Gas Negara amounted to
Rp24,000,000,000
(equivalent
to
US$2,478,058) and nil, respectively and
presented as part of Operating Expenses Salaries and Employees Benefits account in
income.
Pada
tanggal
31
Desember
2012,
31 Desember 2010, aset neto YKPP Gas
Negara adalah masing-masing sebesar
Rp34.866.573.474
(setara
dengan
US$3.605.644), Rp18.977.924.682 (setara
dengan
US$2.092.846)
dan
Rp18.915.270.191
(setara
dengan
US$2.103.800).

net assets of YKPP Gas Negara amounted
to
Rp34,866,573,474
(equivalent
to
US$3,605,644), Rp18,977,924,682 (equivalent
to US$2,092,846) and Rp18,915,270,191
(equivalent to US$2,103,800), respectively.
Imbalan Pensiun Iuran Pasti
d.
Defined Contribution Pension Plan
Sejak
Februari
2009,
Perusahaan
pasti untuk seluruh karyawan tetapnya yang
memenuhi syarat yang dananya dikelola oleh
Dana
Pensiun
Lembaga
Keuangan
BNI,
Manulife
Indonesia
dan
Bringin Jiwa Sejahtera yang didirikan
berdasarkan
Surat
Keputusan
Direksi
No.
002000.K/KP.05/UM/2009
tanggal
6 Februari 2009.
Since
February
2009,
the
Company
established a defined contribution plan for all of
its eligible permanent employees which is
managed by Dana Pensiun Lembaga
Keuangan BNI, Manulife Indonesia and Bringin
Jiwa Sejahtera, the establishment of which was
approved based on Directors Decision Letter
No.
002000.K/KP.05/UM/2009,
dated
February 6, 2009.
Dana pensiun ini didirikan berdasarkan

persetujuan
dari
Menteri
Keuangan
masing-masing
dalam
Surat
Keputusannya No. KEP.1100/KM.17/1998,
No.
KEP.231/KM.17/1994
dan
No. KEP.184/KM.17/1995.
Both the Pension Plan was established based

on the approval from the Ministry of Finance in
its Decision Letter No. KEP.1100/KM.17/1998,
No.
KEP.231/KM.17/1994
and
No. KEP.184/ KM.17/1995, respectively.
125
Annual Report 2012
429

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

d.
e.
30.
Imbalan Pensiun Iuran Pasti (lanjutan)

d. Defined
Contribution
(continued)
Pension
Plan
Sumber dana program pensiun berasal dari

kontribusi karyawan dan Perusahaan masingmasing sebesar 5% dan 15% dari penghasilan
dasar
pensiun.
Beban
pensiun
yang
dibebankan pada operasi masing-masing
adalah
sebesar
US$2.896.505
dan
US$2.779.220 untuk tahun yang berakhir pada
tanggal-tanggal 31 Desember 2012 dan 2011.
The fund is contributed by both employees and

the Company with contribution of 5% and 15%,
respectively, of the basic pension income.
Pension expense charged to operations
amounted to US$2,896,505 and US$2,779,220
for the years ended December 31, 2012 and
2011, respectively.
Pada
tahun
2009,
Transgasindo
pasti untuk semua karyawan tetap yang
memenuhi syarat, yang didanai melalui iuran
tetap bulanan kepada Dana Pensiun Lembaga
Keuangan (DPLK) Bank Rakyat Indonesia dan
Bank Negara Indonesia, yang didirikan
berdasarkan
persetujuan
dari
Menteri
Keuangan Republik Indonesia masing-masing
dalam
Surat
Keputusannya
No.
KEP.197/KM.6/2004
dan
No. KEP.1100/KM.17/1998. Sumber dana
program pensiun berasal dari kontribusi
karyawan dan Transgasindo masing-masing
sebesar 2% dan 6% dari gaji bulanan
karyawan.
Kontribusi
yang
dibayarkan
Transgasindo pada tahun 2012 dan 2011
sebesar US$253.756 dan US$253.724 yang
diambil dari cadangan yang dibentuk pada
tahun-tahun sebelumnya.
In 2009, Transgasindo has defined contribution

pension plan for all of its eligible permanent
employees, which is funded through monthly
fixed contributions to Dana Pensiun Lembaga
Keuangan (DPLK) Bank Rakyat Indonesia and
Bank Negara Indonesia, the establishment of
which were approved by Ministry of Finance of
the Republic of Indonesia in its Decision Letter
No.
KEP.197/KM.6/2004
and
No. KEP.1100/KM.17/1998, respectively. This
fund is contributed by both employees and
Transgasindo with contribution of 2% and 6%
of
the
employees
monthly
salaries,
respectively. The contribution paid by
Transgasindo in 2012 and 2011 amounted to
US$253,756 and US$253,724 which was
taken from the prior years reserves.
Imbalan Kerja Jangka Panjang
e.
Long-term Employees Benefits

Long-term employees benefits liabilities as of
follows:
Liabilitas imbalan kerja jangka panjang pada

tanggal-tanggal
31
Desember
2012,
31 Desember 2010 adalah sebagai berikut:
126
Annual Report 2012
430


DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

e.
30.
Imbalan Kerja Jangka Panjang (lanjutan)
Sub-total
Imbalan kerja
jangka panjang lainnya
Perusahaan
Entitas Anak
Sub-total
Long-term
(continued)
Employees
Benefits
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
(Disajikan Kembali Catatan 2r
138,516,344
5,299,753
58,601,031
3,549,480
39,660,153
2,094,372
143,816,097
62,150,511
41,754,525
Post retirement benefits

The Company
Subsidiaries
Sub-total
Other long-term benefits
The Company
Subsidiaries
5,293,068
386,640
5,952,741
481,870
5,780,007
-
5,679,708
6,434,611
5,780,007
221,829
Other employees benefits
149,495,805
68,585,122
47,756,361
Total
Imbalan kesejahteraan
karyawan lainnya
Total
e.
31 Des. 2011/
Dec. 31, 2011
31 Des. 2012/
Dec. 31, 2012
Imbalan pasca kerja
Perusahaan
Entitas Anak
Sub-total
Perusahaan
The Company
Perusahaan memberikan imbalan kerja jangka

panjang kepada karyawan sesuai dengan
Perjanjian Kerja Bersama yang dibandingkan
dengan imbalan berdasarkan Undang-undang
Ketenagakerjaan No. 13/2003 (UU No. 13/
2003), mana yang lebih tinggi. Imbalan
tersebut
tidak
didanai.
Tabel
berikut
menyajikan komponen dari beban imbalan
neto yang diakui dalam laporan laba rugi
komprehensif konsolidasian dan jumlah yang
diakui dalam laporan posisi keuangan
konsolidasian untuk liabilitas diestimasi
imbalan
kerja
yang
dihitung
oleh
PT Sienco
Aktuarindo
Utama,
aktuaris
independen, untuk tahun yang berakhir pada
tanggal-tanggal
31
Desember
2012,
31 Desember 2011 dan 1 Januari
2011/31 Desember
2010,
berdasarkan
laporannya masing-masing tanggal 2 Januari
2013, 17 Januari 2012 dan 11 Februari 2011.
Perhitungan aktuaris menggunakan metode
Projected Unit Credit dengan asumsi-asumsi
sebagai berikut:
The Company provides long-term employees

benefits to its employee in accordance with the
Collective Labor Agreement as compared with
benefits under Labor Law No. 13/2003
(Law No. 13/2003), and provide whichever is
higher. The benefits are unfunded. The
following tables summarize the components of
net benefits expense recognized in the
income and the amounts recognized in the
consolidated statements of financial position for
the estimated liabilities for employees benefits
as calculated by an independent actuary,
PT Sienco Aktuarindo Utama for the years
ended December 31, 2012, December 31, 2011
and January 1, 2011/December 31, 2010, in its
reports dated January 2, 2013, January 17,
2012 and February 11, 2011. The actuarial
calculation used the Projected Unit Credit
method
which
utilized
the
following
assumptions:
31 Des. 2012/
Dec. 31, 2012
________________________________
Tingkat Bunga Aktuaria

Tingkat Kematian
Kenaikan Gaji dan Upah
Umur Pensiun
Tingkat Cacat
31 Des. 2011/
Dec. 31, 2011
______________________
6.00% per Tahun/per Annum

TMI 2011
10% per Tahun/per Annum
56 Tahun/Years
5% dari Tingkat
Kematian/from Mortality Rate
____________
6.80% per Tahun/ per Annum

CSO 1980
56 Tahun/Years
5 % dari Tingkat
127
1 Jan. 2011/Jan. 1, 2011/

31 Des. 2010/Dec. 31, 2010
______________________________________________

Actuarial Discount Rate
CSO 1980
Mortality Rate
10% per Tahun/per Annum Wages and Salaries Increase
56 Tahun/Years
Retirement Age
1% dari Tingkat
Disability Rate
Annual Report 2012
431


DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

e.
30.

e.
Long-term
(continued)
Employees
Benefits
Tabel berikut ini menyajikan komponen

beban dan liabilitas imbalan kerja karyawan
Perusahaan.
The
following
tables
summarize
the
components of employees benefits expense
and liabilities.
a.
a.
Beban kesejahteraan karyawan

Imbalan pasca kerja

31 Des. 2011/
Dec. 31, 2011
31 Des. 2012/
Dec. 31, 2012
Biaya jasa kini
Biaya bunga
Amortisasi biaya jasa
lalu - unvested
Amortisasi kerugian aktuaria
Total
10,227,623
8,589,016
8,724,952
9,478,853
768,969
-
2,578,966
2,728,464
Current service cost

Interest cost
Amortization of past service
cost - unvested
Amortization of actuarial loss
19,585,608
23,511,235
Total
Imbalan kerja jangka panjang lainnya

31 Des. 2011/
Dec. 31, 2011
31 Des. 2012/
Dec. 31, 2012
Biaya jasa kini
Biaya bunga
lalu - unvested
Total
b.
1,865,580
329,282
1,930,711
447,090
(352,346)

Interest cost
cost - unvested
2,194,862
2,025,455
Total
b.
Liabilitas kesejahteraan karyawan

Imbalan pasca kerja
Total
Employees benefits liability

31 Des. 2011/
Dec. 31, 2011
31 Des. 2012/
Dec. 31, 2012
Nilai kini kewajiban

imbalan pasti
Biaya jasa lalu yang
belum diakui - unvested
Kerugian aktuaria yang
belum diakui
Employees benefits expense
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
149,862,547
132,620,428
(11,346,203)
(12,895,213)
(8,722,965)
Present value of employee benefits

obligation
Unrecognized past service
cost - unvested
(61,124,184)
(53,668,927)
Unrecognized actuarial losses
138,516,344
58,601,031
39,660,153
Total
128
102,052,045
Annual Report 2012
432

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

e.
30.

e.
b.
Liabilitas
(lanjutan)
Long-term
(continued)
b.
karyawan
c.
Employees benefits liability (continued)

1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
31 Des. 2011/
Dec. 31, 2011
31 Des. 2012/
Dec. 31, 2012
Total
Benefits
kesejahteraan
Nilai kini kewajiban

imbalan pasti
Biaya jasa lalu yang belum
diakui
belum diakui
Employees
Present value of employees benefits

obligation
Unrecognized past service
cost
Unrecognized actuarial losses
5,293,068
5,952,741
5,780,007
Total
5,293,068
5,952,741
5,780,007
c.
Mutasi liabilitas diestimasi atas imbalan

kerja karyawan
The movements in the estimated liabilities

for employees benefits.
Perubahan dalam liabilitas kesejahteraan

karyawan
untuk
pada
tanggal
31 Desember 2012, 31 Desember 2011
sebagai berikut:
The movements in the employee benefits

liability as of December 31, 2012,
December
31,
2011
and
follows:
Imbalan pasca kerja
31 Des. 2012/
Dec. 31, 2012
Saldo awal
Kerugian aktuaria
pada pendapatan
komprehensif lain
Beban kesejahteraan
karyawan
Beban pesangon
pemutusan kontrak kerja
Efek kurtailmen
Pembayaran manfaat
Laba (rugi) selisih kurs
Saldo akhir
58,601,031
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
31 Des. 2011/
Dec. 31, 2011
39,660,153
25,698,145
Beginning balance
Actuarial loss in other
68,138,907
19,585,608
23,511,235
14,507,095
(3,690,929)
(4,118,273)
970,611
(709,704)
(3,853,078)
(978,186)
(1,849,246)
1,304,159
58,601,031
39,660,153
138,516,344
129
Annual Report 2012

Employment termination
severances expenses
Curtailment effect
Benefits payment
Foreign exchange gain (loss)
Ending balance
433


DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

e.
30.

e.
Long-term
(continued)
Employees
c.
c.

kerja karyawan (lanjutan)
Saldo akhir
Analisa sensitivitas
diskonto
untuk
The movements in the estimated liabilities

for employees benefits (continued)
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
31 Des. 2011/
Dec. 31, 2011
31 Des. 2012/
Dec. 31, 2012
Saldo awal
Beban kesejahteraan
tahun berjalan
Pembayaran manfaat
Kerugian aktuaria
pada pendapatan
komprehensif lain
Laba (rugi) selisih kurs
Benefits
5,952,741
5,780,007
3,530,129
2,194,862
(1,819,822)
2,025,455
(1,796,261)
2,067,220
-
Beginning balance
Current benefits
expense
Benefits payment
(653,036)
(381,677)
(56,460)
182,658
Loss on actuarial in other

Foreign exchange gain (loss)
5,293,068
5,952,741
5,780,007
Ending balance
risiko
Sensitivity analysis for discount rate risk
tingkat
As of December 31, 2012, if the discount rate is

higher one point with all other variables held
constant, the employee benefits liability would
have been US$14,748,896 lower, while, if the
discount rate is lower one point, the liability
would have been US$17,336,240 higher.
Pada tanggal 31 Desember 2012, jika tingkat

diskonto meningkat sebesar satu poin dengan
semua variabel konstan, maka liabilitas
kesejahteraan karyawan lebih rendah sebesar
US$14.748.896, sedangkan jika tingkat
diskonto menurun satu poin, maka liabilitas
lebih tinggi sebesar US$17.336.240.
Imbalan pasca kerja/Post retirement benefits

31 Desember 2011/
December 31,
2011
31 Desember 2012/
December 31, 2012
Nilai kini kewajiban imbalan pasti/
Projected benefit obligation
Biaya jasa lalu yang belum diakui/
Unrecognized past service costs
Kerugian aktuaria yang belum diakui/
Unrecognized actuarial loss
Neto/Net
149,862,547
132,620,428
31 Desember 2010/
December 31,
2010
31 Desember 2009/
December 31,
2009
31 Desember 2008/
December 31,
2008
102,052,045
48,198,497
33,324,655
(11,346,203)
(12,895,213)
(8,722,965)
(10,885,913)
(11,527,580)
(61,124,184)
(53,668,927)
(11,614,439)
(6,611,446)
138,516,344
58,601,031
39,660,153
25,698,145
15,185,629
130
Annual Report 2012
434

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

e.
30.

e.
Long-term
(continued)
Employees
Benefits

pemutusan kerja terhadap dua orang
karyawannya
sehubungan
dengan
pengangkatan mereka sebagai Direksi. Atas
pemutusan hubungan kerja ini Perusahaan
telah
melakukan
perhitungan
besaran
pembayaran
purna
bakti
sebesar
Rp3.958.918.631
yang
pembayarannya
dilakukan
setelah
yang
bersangkutan
mengakhiri
jabatan
sebagai
Direksi
Perusahaan. Selama tahun 2011, Perusahaan
telah melakukan pembayaran liabilitas tersebut
US$678.370).
In 2011, the Company terminated the work

agreement with its two employees in relation to
their appointment as Directors. For this
termination, the Company calculated the post
retirement
benefits
amounting
to
Rp3,958,918,631 which will be paid at the end
of their tenure year as the Companys
Directors. During 2011, the Company has paid
such liabilities amounting to Rp5,953,378,795
(equivalent to US$678,370).
Pada
tahun
2011,
Perusahaan
juga
memberikan imbalan pasca kerja kepada
karyawan berupa Masa Persiapan Pensiun
(MPP), dimana karyawan dapat memilih untuk
tidak aktif bekerja selama tahun sebelum
memasuki masa pensiun pada usia 56 tahun.
Selama MPP, karyawan masih akan menerima
imbalan berupa upah dasar.
In 2011, the Company also provides postemployment benefits in the form of Pension
Preparation Year (PPP), which the employees
can choose to be inactive during year before
reaching pension age of 56 years. During the
PPP, the employees still received benefits in
the form of basic salary.

pemutusan kerja terhadap dua orang karyawan
sehubungan dengan pengangkatan mereka
sebagai Direksi. Atas pemutusan hubungan
kerja ini, Perusahaan telah melakukan
perhitungan besaran pembayaran purna bakti
US$838.517).
Selama
tahun
2012,
Perusahaan telah melakukan pembayaran
seluruh liabilitas tersebut.
In 2012, the Company terminated the work

agreement with its two employees in relation to
their appointment as Directors. For this
termination, the Company calculated the post
retirement
benefits
amounting
to
Rp7,861,098,666 (equivalent to US$838,517).
During 2012, the Company has paid all the
liabilities.
Entitas Anak
The Subsidiaries
Transgasindo
Transgasindo
Transgasindo
mencadangkan
liabilitas
diestimasi yang tidak didanai berdasarkan
imbalan yang diatur dalam Perjanjian Kerja
Bersama yang dibandingkan dengan imbalan
berdasarkan
Undang-Undang
Ketenagakerjaan No. 13/2003 (UU No. 13/2003), mana
yang lebih tinggi.
Transgasindo provides an unfunded estimated

liability based on benefits under the Collective
Labor Agreement as compared with benefits
under
Labor
Law
No.
13/2003
(Law No. 13/2003), and provide whichever is
higher.
131
Annual Report 2012
435


DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

e.
30.

e. Long-term Employees Benefits (continued)
Entitas Anak (lanjutan)
The Subsidiaries (continued)
Transgasindo (lanjutan)
Transgasindo (continued)
Liabilitas imbalan pasca kerja yang tidak

didanai diatas adalah berdasarkan perhitungan
aktuaria yang dilakukan oleh independen
aktuaris, PT Sienco Aktuarindo Utama,
berdasarkan
laporannya
tanggal
4 Januari 2013, 4 Januari 2012 dan 7 Januari
2011, yang dihitung dengan menggunakan
metode Projected Unit Credit dengan asumsi
sebagai berikut:
The above unfunded employees benefits liability

is based on actuarial computation performed by
independent actuary, PT Sienco Aktuarindo
Utama, in its reports dated January 4, 2013,
January 4, 2012 and January 7, 2011, using the
Projected Unit Credit method, with the following
assumptions:
31 Des. 2012/
Dec. 31, 2012
________________________________
Tingkat Bunga Aktuaria

Tingkat Kematian
Kenaikan Gaji dan Upah
Umur Pensiun
Tingkat Cacat

TMI 2011
56 Tahun/Years
5% dari Tingkat
Tabel berikut ini menyajikan

liabilitas
kesejahteraan
Transgasindo.
a.
31 Des. 2011/
Dec. 31, 2011
______________________
a.
Imbalan pasca kerja
879,489
462,775
1,024,169
358,612
58,778
-
132,695
30,956

Interest cost
cost - non vested
1,401,042
1,546,432
Total

31 Des. 2011/
Dec. 31, 2011
31 Des. 2012/
Dec. 31, 2012
Total
Actuarial Discount Rate

Mortality Rate
Wages and Salaries Increase
Retirement Age
Disability Rate
31 Des. 2011/
Dec. 31, 2011
Biaya jasa kini

Biaya bunga
Lalu - non vested

CSO 1980
56 Tahun/Years
5% dari Tingkat
31 Des. 2012/
Dec. 31, 2012
Total
________________________________________
The following tables summarize the components

of the employee benefits liabilities of
Transgasindo.
komponen
karyawan
Beban kesejahteraan karyawan
Biaya jasa kini

Biaya bunga
lalu - non vested
____________

CSO 1980
56 Tahun/Years
5% dari Tingkat
1 Jan. 2011/
Jan, 31. 2011/
31 Des, 2010/
Dec. 31, 2010
148,945
24,439
322,891
11,652
231,376
32,430

Interest cost
cost - non vested
173,384
598,349
Total
132
Annual Report 2012
436


DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

e.
30.

e.
Long-term
(continued)
Employees
b.
b. Employees benefits liability
Liabilitas kesejahteraan karyawan

Imbalan pasca kerja
Total
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
31 Des. 2011/
Dec. 31, 2011
31 Des. 2012/
Dec. 31, 2012
Nilai kini kewajiban imbalan

pasti
Biaya jasa lalu yang belum
diakui
belum diakui, neto
6,205,065
6,883,779
(947,991)
(1,071,637)
(2,262,662)
5,257,074
3,549,480
c.
(880,217)
Unrecognized actuarial losses, net
2,094,372
Total
481,870
Present value of employees benefits

obligation
Unrecognized actuarial losses, net
386,640
481,870
Total
386,640
c.
Imbalan pasca kerja
The movements of estimated liabilities for

employees benefits
Post retirements benefits
31 Des. 2012/
Dec. 31, 2012
Saldo akhir
Unrecognized past service cost
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
31 Des. 2011/
Dec. 31, 2011

kerja
Saldo awal
Beban tahun
berjalan
Pembayaran manfaat
Pengakuan kerugian
aktuaria pada
pendapatan
komprehensif lain
Rugi (laba) selisih kurs
31 Des. 2012/
Dec. 31, 2012
Total
Present value of employee benefits

obligation
2,974,589
Imbalan kerja lainnya
Nilai kini kewajiban imbalan

pasti
belum diakui, neto
Benefits
31 Des. 2011/
Dec. 31, 2011
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
3,549,480
2,094,372
1,344,895
Beginning balance
1,401,042
(115,744)
1,546,432
(25,052)
683,858
(2,648)
Current cost
Benefits payment
681,280
(258,984)
(66,272)
68,267
Actuarial loss in other

Loss (gain) on foreign exchange
3,549,480
2,094,372
Ending balance
5,257,074
133
Annual Report 2012
437

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

e.
30.
c.
c.

kerja (lanjutan)
Imbalan kerja lainnya
Saldo awal
Beban kesejahteraan
tahun/tahun berjalan
Pengakuan kerugian
aktuaria pada
pendapatan
komprehensif lain
Pembayaran manfaat
Laba selisih kurs
481,870
Saldo akhir
untuk
598,349
345,604
(2,783)
(237,735)
(28,096)
(100,616)
(15,863)
(345,604)
-
386,640
481,870
risiko
Beginning balance
Current benefits
expense
Loss on actuarial in other
Benefits payment
Gain on foreign exchange
Ending balance
Sensitivity analysis for discount rate risk
tingkat
As of December 31, 2012, if the discount rate is

higher one point with all other variables held
constant, the employee benefits liability would
have been US$827,886, while if the discount rate
is lower one point, the liability would have been
US$995,397.
Imbalan pasca kerja/Post retirement benefits
31 Desember 2011/
December 31,
2011
31 Desember 2012/
December 31, 2012
Neto/Net
173,384

diskonto meningkat sebesar 1 poin dengan
semua variabel konstan, maka liabilitas
kesejahteraan karyawan lebih rendah sebesar
US$827.886, sedangkan jika tingkat diskonto
menurun 1 poin, maka liabilitas lebih tinggi
sebesar US$995.397.
Nilai kini kewajiban imbalan pasti/

Projected benefit obligation
Biaya jasa lalu yang belum diakui/
Unrecognized past service costs
Kerugian aktuaria yang belum diakui/
Unrecognized actuarial loss
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
31 Des. 2011/
Dec. 31, 2011
31 Des. 2012/
Dec. 31, 2012
Analisa sensitivitas
diskonto
The movements of estimated liabilities for

employees benefits (continued)
31 Desember 2010/
December 31,
2010
31 Desember 2009/
December 31,
2009
31 Desember 2008/
December 31,
2008
6,205,065
6,883,779
2,974,589
1,481,488
1,003,785
(947,991)
(1,071,637)
(2,262,662)
5,257,074
3,549,480
(880,217)
2,094,372
(136,593)
(33,074)
1,344,895
970,711
During 2011, Transgasindo also provides postemployment benefit in the form PPP, where the
employees no longer working actively during 12
months before reaching pension age of 56. During
PPP, the employees still receive benefits of an
active employees, including, but not limited to,
regular salary and other allowances.
Pada tahun 2011, Transgasindo juga

memberikan imbalan pasca kerja berupa MPP,
dimana karyawan tidak lagi aktif bekerja
selama 12 bulan sebelum memasuki masa
pensiun pada usia 56 tahun. Selama masa
MPP, karyawan masih akan menerima imbalan
yang diberikan kepada karyawan aktif,
termasuk, tetapi tidak terbatas pada gaji rutin
dan tunjangan lainnya.
134
Annual Report 2012
438

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

e.
30.


PGASKOM, PGASSOL dan GEI telah melakukan
pencadangan kewajiban imbalan pasca kerja
berdasarkan perhitungan internal pada tanggal
31 Desember 2012 masing-masing sebesar
US$11.954, US$29.824 dan US$901. Sedangkan
pada tanggal 31 Desember 2011 dan 1 Januari
2011/31 Desember 2010, entitas tertentu tidak
membentuk cadangan imbalan paska kerja
dikarenakan jumlahnya tidak material.
PLI dan SEI tidak membentuk cadangan imbalan
pasca kerja pada tanggal 31 Desember 2012,
31 Desember 2010 karena jumlahnya tidak
material.
Seluruh beban imbalan kerja karyawan jangka
panjang. Perusahaan dan Entitas Anak disajikan
sebagai akun Beban Operasi - Gaji dan
Kesejahteraan Karyawan pada laporan laba rugi
program
jaminan hari tua cukup untuk
menutupi semua imbalan yang diatur dalam
UU No. 13/2003.

PGASKOM, PGASSOL and GEI recorded the
employee benefits liability based on internal
computation as of December 31, 2012, amounting
to US$11,954, US$29,824, and US$901,
respectively. While as of December 31, 2011 and
January 1, 2011/December 31, 2010, such entities
did not accrue for employee benefits since the
amount is immaterial.
PLI and SEI did not accrue for employee benefit as
of December 31, 2012, December 31, 2011 and
January 1, 2011/December 31, 2010 since the
amount is immaterial.
All the employees benefits expenses of the
Company and Subsidiaries are presented as
Operating Expenses - Salaries and Employees
Benefits account in the consolidated statements of
retirements benefits program adequately cover the
benefits to be provided based on Law No. 13/2003.
31. KEPENTINGAN NONPENGENDALI
31. NON-CONTROLLING INTERESTS

31 Des. 2012/Dec. 31, 2012
Saldo/Balance
1 Januari 2012/
January 1, 2012
Bagian atas laba

(rugi) neto/
Share in net
profit (loss)
Perubahan
ekuitas lainnya/
Other equity
movement
Saldo/Balance
31 Desember 2012/
December 31, 2012
Transgasindo
PGASKOM
PGASSOL
147,331,796
(6,170 )
752
24,369,070
570
1,154
(14,250,491)
395
546
157,450,375
(5,205)
2,452
Transgasindo
PGASKOM
PGASSOL
Total
147,326,378
24,370,794
(14,249,550)
157,447,622
Total
31 Des. 2011/Dec. 31, 2011

Saldo/Balance
1 Januari 2011/
January 1, 2011
Bagian atas laba

(rugi) neto/
Share in net
profit (loss)
Perubahan
ekuitas lainnya/
Other equity
movement
Saldo/Balance
31 Desember 2011/
December 31, 2011
Transgasindo
PGASKOM
PGASSOL
135,753,876
(6,688)
(130)
21,094,505
455
826
(9,516,585)
63
56
147,331,796
(6,170)
752
Total
135,747,058
21,095,786
(9,516,466)
147,326,378
Transgasindo
PGASKOM
PGASSOL
Total
1 Jan. 2011/31 Des. 2010/ Jan. 1, 2011/Dec. 31, 2010

Saldo/Balance
1 Januari 2010/
January 1, 2010
Bagian atas laba

(rugi) neto/
Share in net
profit (loss)
Perubahan
ekuitas lainnya/
Other equity
movement
Saldo/Balance
31 Desember 2010/
December 31, 2010
Transgasindo
PGASKOM
PGASSOL
120,623,150
(7,315)
36
15,130,356
627
(166)
370
-
135,753,876
(6,688)
(130)
Transgasindo
PGASKOM
PGASSOL
Total
120,615,871
15,130,817
370
135,747,058
Total
135
Annual Report 2012
439

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
32. SALDO
DAN
TRANSAKSI
SIGNIFIKAN
DENGAN PIHAK-PIHAK BERELASI
32. SIGNIFICANT BALANCES AND TRANSACTIONS

WITH RELATED PARTIES
Dalam kegiatan usaha normal, Kelompok Usaha

melakukan transaksi usaha dan keuangan dengan
pihak-pihak berelasi. Entitas yang bersangkutan
diakui sebagai pihak berelasi dari Kelompok
Usaha berkaitan dengan persamaan kepemilikan
dan manajemen.
In the normal course of business, the Group

entered into trade and financial transactions with
related parties. The concerned entities are
considered related parties of the Group in view of
their common ownership and management.
Rincian sifat hubungan dan jenis transaksi yang

signifikan dengan pihak-pihak berelasi adalah
sebagai berikut:
The details of nature of relationship and types of

significant transactions with related parties are as
follows:
Pihak-pihak berelasi/
Related parties
Sifat hubungan/
Nature of relationship
Jenis transaksi/
Nature of transactions
Dikendalikan oleh Pemerintah

Pusat Republik Indonesia/
Controlled by the Central
Government of the Republic
of Indonesia
Penempatan giro, deposito

berjangka yang tidak dibatasi
penggunaannya, kas yang
dibatasi penggunannya, fasilitas Non Cash
Loan, fasilitas Bill Purchasing Line, fasilitas
Kredit Modal Kerja, fasilitas Supply Chain
Financing dan fasilitas Treasury Line/
Placement of current accounts, placement
of unrestricted time deposits, placement
of restricted cash, Non Cash Loan facility,
Bill Purchasing Line facility, Working
Capital Loans facility, Supply Chain
Financing facility and Treasury Line facility

of Indonesia

penggunaannya dan fasilitas kredit
investasi/ Placement of current accounts,
placement of unrestricted time deposits and
investment credit facility
PT Bank Rakyat Indonesia (Persero) Tbk

Government of the

penggunaannya, fasilitas Standby Letter
of Credit, fasilitas bank garansi dan fasilitas
penangguhan jaminan impor/Placement
of current accounts, placement of
unrestricted time deposits, Standby Letter
of Credit Facility, bank guarantee facility and
guarantee of suspension of import facility
PT Bank Tabungan Negara (Persero) Tbk

of Indonesia
Penempatan giro dan deposito

penggunaannya/Placement of
current accounts and unrestricted
time deposits
Dikendalikan oleh PT Bank Mandiri

(Persero) Tbk/
Controlled by the PT Bank Mandiri
(Persero) Tbk
Deposito berjangka yang tidak

dibatasi penggunaannya/
Placement of unrestricted time deposits
136
Annual Report 2012
440

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
32. SALDO
DAN
TRANSAKSI
SIGNIFIKAN
DENGAN PIHAK-PIHAK BERELASI (lanjutan)
Related parties

WITH RELATED PARTIES (continued)
Sifat hubungan/
Jenis transaksi/
PT Pertamina (Persero)

Government of the Republic of
Indonesia
Debitur obligasi/Bonds debtor

West Java Madura Offshore (WJMO)
Dikendalikan oleh PT Pertamina

(Persero)/Controlled by
Uang muka pembelian gas bumi

pemasok gas/Advance for purchase of
gas supplier
PT Pertamina EP

Uang muka pembelian gas bumi,

pemasok gas, pelanggan/Advance of
take or pay, gas supplier, customer
PT Pertamina Gas (Pertagas)

Pemasok gas/Gas supplier
PT Perusahaan Listrik
Negara (Persero) (PLN)

Indonesia
Pelanggan/Customer
PT Indonesia Power
Dikendalikan oleh PT Perusahaan

Listrik Negara (Persero)/Controlled
by PT Perusahaan Listrik Negara
(Persero)
Pelanggan/Customer
PT PLN Batam
Dikendalikan oleh PT Perusahaan

Listrik Negara (Persero)/Controlled
By PT Perusahaan Listrik Negara
(Persero)
Pelanggan/Customer
PT Barata Indonesia (Persero)

Indonesia
Pelanggan/Customer
PT Iglas (Persero)

Indonesia
Pelanggan/Customer
137
Annual Report 2012
441

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
32. SALDO
DAN
TRANSAKSI
SIGNIFIKAN
Related parties

Sifat hubungan/
Jenis transaksi/
PT Kertas Leces (Persero)

Indonesia
Pelanggan/Customer
PT Wijaya Karya Intrade

Indonesia
Pelanggan/Customer
PT Wijaya Karya Beton

Indonesia
Pelanggan/Customer
PT Krakatau Daya Listrik

Indonesia
Pelanggan/Customer
Lembaga Pembiayaan
Ekspor Indonesia (LPEI)

Indonesia
Debitur obligasi/Bond debtor
PT Aneka Tambang (Persero) Tbk

Indonesia
Perum Pegadaian

Indonesia
138
Annual Report 2012
442

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
32. SALDO
DAN
TRANSAKSI
SIGNIFIKAN
Related parties

Sifat hubungan/
Jenis transaksi/
Pemerintah Republik Indonesia
Pemegang saham mayoritas/

Majority Shareholder
Investasi jangka pendek/

Short-term investment
PT Nusantara Regas
Entitas asosiasi/
Associate
Pemasok gas, penyertaan saham/Gas

supplier, investment in shares
of stock
PT Gas Energy Jambi
Entitas asosiasi/
Associate
Penyertaan saham/Investment in shares

of stock
Significant transactions with related parties are as

follows:
Transaksi-transaksi signifikan dengan pihak-pihak

berelasi adalah sebagai berikut:
31 Des. 2012/
Dec. 31, 2012
31 Des. 2011/
Dec. 31, 2011
Pendapatan neto
Entitas berelasi dengan pemerintah
PT PLN (Persero)
PT Indonesia Power
PT PLN Batam
PT Iglas (Persero)
PT Pertamina EP
Lain-lain (masing-masing
di bawah Rp1.000.000.000)
400,063,990
92,755,189
83,766,748
20,145,964
5,705,032
5,454,934
412,962
445,899
191,898
333,815,655
63,477,465
96,645,309
19,054,818
4,850,473
5,091,277
498,090
204,927
201,121
123,961
85,916
Net revenues
PT PLN (Persero)
PT Indonesia Power
PT PLN Batam
PT Iglas (Persero)
PT Pertamina EP
Others (each below
Rp1,000,000,000)
Total
609,066,577
523,925,051
Total
23.64%
23.49%
Percentage from total consolidated

net revenues
Persentase dari total pendapatan

neto konsolidasian
Pembelian
PT Pertamina EP
PT Pertamina Hulu Energi (WJMO)
PT Nusantara Regas
PT Pertamina Gas
235,309,372
37,077,150
28,298,534
27,358,778
201,714,457
45,610,917
38,674,938
Purchases
PT Pertamina EP
PT Pertamina Hulu Energi (WJMO)
PT Nusantara Regas
PT Pertamina Gas
Total
328,043,834
286,000,312
Total
29.71%
32.19%

cost of revenues
Persentase dari total beban pokok

pendapatan konsolidasian
139
Annual Report 2012
443


DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
32. SALDO
DAN
TRANSAKSI
SIGNIFIKAN
32.
SIGNIFICANT BALANCES AND TRANSACTIONS

Saldo-saldo signifikan dengan pihak-pihak berelasi

adalah sebagai berikut (lanjutan):
Significant balances with related parties are as

follows (continued):
Kas dan setara kas dan kas yang dibatasi

penggunaannya (Catatan 4 dan 5)
Cash and cash equivalents and restricted cash

(Notes 4 and 5)

201, dan 1 Januari 2011/31 Desember 2010, saldo
kas dan setara kas dan kas yang dibatasi
penggunaannya yang ditempatkan pada entitas
berelasi dengan Pemerintah masing-masing
sebesar 38,68%, 31,35% dan 32,33% dari total
aset konsolidasian.

January 1, 2011/December 31, 2010, the balances
of cash and cash equivalents and restricted cash
placed in Government-related entities amounted to
38.68%, 31.35% and 32.33%, respectively, from
the total consolidated assets.
Investasi jangka pendek (Catatan 6)
Short-term investments (Note 6)

2011 dan 1 Januari 2011/31 Desember 2010, saldo
investasi jangka pendek yang ditempatkan pada
entitas berelasi dengan Pemerintah masing-masing
sebesar 2,77%, 0,80% dan nihil dari total aset
konsolidasian.

January 1, 2011/December 31, 2010, the balances
of short-term investments placed in Governmentrelated entities amounted to 2.77%, 0.80% and nil,
respectively, from the total consolidated assets.
Piutang usaha (Catatan 7)
Trade receivables (Note 7)

31 Des. 2011/
Dec. 31, 2011
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
41,188,136
9,278,005
6,505,338
5,591,215
4,482,568
1,841,627
508,763
29,511,683
4,390,646
10,787,359
2,386,376
4,568,504
3,159,768
465,562
41,650,718
5,130,810
8,217,480
1,911,406
4,580,325
3,005,329
454,984
95,552
117,527
87,907
69,491,204
55,387,425
65,038,959
Total
1.84%

assets
31 Des. 2012/
Dec. 31, 2012
PT PLN (Persero)
PT Indonesia Power
PT Iglas (Persero)
PT PLN Batam
PT Pertamina EP
Lain-lain (masing-masing
di bawah Rp1.000.000.000)
Total
Persentase dari total aset
konsolidasian
1.78%
1.63%
PT PLN (Persero)
PT Indonesia Power
PT Iglas (Persero)
PT PLN Batam
PT Pertamina EP
Others (each below
Rp1,000,000,000)
From the above total trade receivables, the Group

provides allowance for impairment losses on
receivables due to indications of impairment.
Dari total piutang usaha tersebut di atas, Kelompok

Usaha mencadangkan kerugian penurunan nilai
atas piutang disebabkan adanya indikasi
penurunan nilai.
140
Annual Report 2012
444

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
32. SALDO
DAN
TRANSAKSI
SIGNIFIKAN
32.
SIGNIFICANT BALANCES AND TRANSACTIONS

Saldo-saldo signifikan dengan pihak-pihak berelasi

adalah sebagai berikut (lanjutan):
Significant balances with related parties are as

follows (continued):
Uang muka (Catatan 10)
Advances (Note 10)

2011 dan 1 Januari 2011/31 Desember 2010, saldo
uang muka yang ditempatkan pada entitas berelasi
dengan Pemerintah masing-masing sebesar
1,97%, 2,26% dan 2,17% dari total aset
konsolidasian.

January 1, 2011/December 31, 2010, the balance
of advances placed in Government-related entity
amounted to 1.97%, 2.26% and 2.17%,
respectively, from the total consolidated assets.
Penyertaan saham (Catatan 12)
Investment in shares of stock (Note 12)

2011, dan 1 Januari 2011/31 Desember 2010,
saldo penyertaan saham yang ditempatkan pada
entitas berelasi dengan Pemerintah masing-masing
sebesar 1,68%, 1,32% dan 0,61% dari total aset
konsolidasian.

balances of investment in shares of stock placed in
government-related entities amounted to 1.68%,
1.32% and 0.61%, respectively, from the total
consolidated assets.
Utang usaha (Catatan 15)
Trade payables (Note 15)

31 Des. 2011/
Dec. 31, 2011
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
51,590,101
15,545,068
23,429,206
2,764,020
2,672,099
969,305
3,560,046
3,054,299
4,833,888
5,626,132
PT Pertamina EP
PT Pertamina Hulu energi
PT Nusantara Regas
PT Pertamina Gas
57,995,525
22,159,413
33,889,226
Total
3.73%
1.46%
1.79%
31 Des. 2012/
Dec. 31, 2012

PT Pertamina EP
PT Pertamina Hulu energi
PT Nusantara Regas
PT Pertamina Gas
Total
Persentase dari total liabilitas
konsolidasian

liabilities
Pinjaman jangka panjang (Catatan 18)
Long-term loans (Note 18)

2011, dan 1 Januari 2011/31 Desember 2010,
saldo pinjaman jangka panjang yang ditempatkan
pada entitas yang berelasi dengan Pemerintah
masing-masing sebesar 51,18%, 58,97% dan
49,28% dari total liabilitas konsolidasian.

balances of long-term loans placed in Governmentrelated entities amounted to 51.18%, 58.97% and
49.28%, respectively, from the total consolidated
liabilities.
141
Annual Report 2012
445


DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
32. SALDO
DAN
TRANSAKSI
SIGNIFIKAN

Kompensasi dan imbalan lain
Compensation and other benefits
Kelompok Usaha memberikan kompensasi dan

imbalan lain kepada Dewan Komisaris dan Direksi
sebesar US$11.511.086 dan US$12.926.278
untuk tahun yang berakhir pada tanggal-tanggal
31 Desember 2012 dan 2011, yang terdiri dari:
The Group provided compensation and other

benefits for the Boards of Commissioners and
Directors amounting to US$11,511,086 and
US$12,926,278
for
the
years
ended
December 31, 2012 and 2011, which consist of:
31 Des. 2011/
Dec. 31, 2011
As Restated - Note 2r)
31 Des. 2012/
Dec. 31, 2012
Komisaris
Imbalan jangka pendek
Imbalan pasca kerja
Imbalan jangka panjang lainnya
2,448,613
227,609
17,769
3,071,618
229,653
1,562
Sub-total
2,693,991
3,302,833
Sub-total
Commissioners
Short-term benefits
Direksi
Imbalan jangka pendek
Imbalan pasca kerja
Imbalan jangka panjang lainnya
8,179,636
593,295
44,164
8,852,918
759,253
11,274
Directors
Short-term benefits
Sub-total
8,817,095
9,623,445
Sub-total
11,511,086
12,926,278
Total
Total
33. PROGRAM
KEMITRAAN
LINGKUNGAN
DAN
33. PARTNERSHIP
AND
DEVELOPMENT PROGRAM
BINA
COMMUNITY
Dalam suatu program yang dibentuk oleh

Pemerintah Republik Indonesia, manajemen Badan
Usaha Milik Negara diharuskan mengambil
tindakan untuk membantu usaha kecil dan
koperasi. Perusahaan mengalokasikan 0,5% dari
laba tahun 2006 untuk membiayai Program
Kemitraan dan Bina Lingkungan (PKBL) yang telah
dipilih oleh Perusahaan atau ditentukan oleh
Pemerintah Republik Indonesia. Dana untuk
program ini dikelola secara terpisah oleh
Perusahaan sebelum dibayarkan dalam bentuk
hibah dan pinjaman kepada usaha kecil dan
koperasi yang sudah terpilih.
Under a program established by the Government of

the Republic of Indonesia, the management of StateOwned Enterprises undertakes measures to foster
the partnership and community development
program (Program Kemitraan dan Bina LingkunganPKBL). The Company allocates 0.5% of its 2006 net
income to fund the Partnership and Community
Development Program (PKBL) selected by the
Company or determined by the Government of the
Republic of Indonesia. The funds for this program
are maintained separately by the Company before
being paid out in the forms of grants and loans to
designated small enterprises and cooperatives.
Pada tahun yang berakhir pada tanggal-tanggal

31 Desember 2012 dan 2011 Perusahaan telah
mencatat beban atas Tanggung Jawab Sosial dan
Lingkungan pada operasi berjalan yang disajikan
pada akun Beban Umum dan Administrasi Tanggung Jawab Sosial dan Bina Lingkungan
pada laporan laba rugi komprehensif konsolidasian
(Catatan 25).
For the years ended December 31, 2012 and 2011

the Company has recorded the Corporate Social and
Environmental Responsibility expense in current
operations which is presented as part of General
and Administrative Expenses - Corporate Social and
Environmental Responsibility (CSR) account in the
consolidated statements of comprehensive income
(Note 25).
Pada tahun yang berakhir pada tanggal-tanggal

31 Desember 2012 dan 2011, Perusahaan telah
mencatat pencadangan atas program Bina
Lingkungan sebagai pengurang saldo laba tahun
2012 dan 2011 (Catatan 21).
For the years ended December 31, 2012 and 2011,

the Company has recorded appropriation for
Community Development Program as a deduction of
2012 and 2011 retained earnings (Note 21).
142
Annual Report 2012
446

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
34. PERJANJIAN-PERJANJIAN PENTING
34. SIGNIFICANT AGREEMENTS
Perusahaan mengadakan perjanjian-perjanjian

penting sebagai berikut:
The Company
agreements:
Perusahaan
The Company
1.
Perjanjian Jual Beli Gas (PJBG)
PT Pertamina EP
the
following
significant
1. Gas Sale and Purchase Agreements (GSPA)

The Company is required to buy and pay for the
minimum purchase quantity per year for each of
the GSPA below. The difference between the
purchased quantity and the minimum purchase
quantity is recorded as Make-Up Gas, which
can be realized anytime if the minimum quantity
has been taken or at a specified year after the
related agreement ends. The outstanding
balance of the Make-Up Gas is presented as
part of Advances in the consolidated
statements of financial position (Note 10).
Perusahaan harus membeli dan membayar

jumlah pembelian minimum per tahun untuk
setiap PJBG di bawah ini. Perbedaan antara
jumlah kuantitas pembelian dan kuantitas
pembelian minimum dicatat sebagai Make-Up
Gas, yang dapat direalisasikan setiap saat
jika kuantitas minimum telah diambil atau pada
tahun tertentu setelah perjanjian berakhir.
Saldo Make-Up Gas disajikan sebagai
bagian dari Uang Muka pada laporan posisi
keuangan konsolidasian (Catatan 10).
Pemasok/
Suppliers
has
Perjanjian/
Agreements
PJBG Palembang
Jangka waktu/
Term
Lapangan Gas/
Gas Field
Volume/
Volume
Awal/Start
Akhir/End
DOH Sumatera
Selatan
2,343 BSCF
17 Dec. 1999
7 Oct. 2012**)
PJBG Medan
Lapangan minyak
dan gas bumi
PT Pertamina EP
Region Sumatera,
Sumatera Bagian
Utara
PJBG Jakarta-Bogor
Lapangan minyak
dan gas bumi
PT Pertamina EP
Region Jawa, Jawa
Bagian Barat
359,66 BSCF
4 Apr. 2002
31 Mar. 2013*)
PT Pertamina EP
PJBG Cirebon
Lapangan minyak
dan gas bumi
PT Pertamina EP
Region Jawa,
Jawa Bagian Barat
16,428 BSCF
4 Apr. 2002
31 Mar. 2013*)
PT Pertamina EP
PJBG Sumatera
Selatan-Jawa Barat
DOH Sumatera
Selatan
PT Pertamina EP
PJBG EEJW
Jatirarangon
PJBG Batam I
PT Pertamina EP
PT Pertamina EP
48,927 BSCF
4 Apr. 2002
31 Mar. 2013*)
1,006 TSCF
26 Jun. 2003
31 Dec. 2025*)
40,150 BBTU
26 Jul. 2004
18 Oct. 2014*)
Corridor Block
225 TBTU
9 Jul. 2004
12 Oct. 2019*)
PJBG Corridor
Block-Jawa Barat
Corridor Block
2,310 TBTU
9 Aug. 2004
30 Sept. 2023
PJBG Batam II
Corridor Block
65,8 TBTU
12 Dec. 2004
11 Dec. 2019*)
Amendment and
Restatement to
Replace IGSPA to
GSPA
Corridor Block
12,5 BBTUD
31 May. 2010
31 May. 2015
29 Dec. 2003
31 Dec. 2015
PJBG Lapindo
Wunut
143
112,580 BSCF
(until 31 Dec. 2011)
As it is (since
Jan 1, 2012
Annual Report 2012
447


DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
34. PERJANJIAN-PERJANJIAN PENTING (lanjutan)
34. SIGNIFICANT AGREEMENTS (continued)
1.
1. Gas Sale and Purchase Agreements (GSPA)

(continued)
Perjanjian Jual Beli Gas (PJBG) (lanjutan)
Pemasok/
Suppliers
Perjanjian/
Agreements
Jangka waktu/
Term
Lapangan Gas/
Gas Field
Volume/
Volume
65,552 BBTU
19 Dec. 2006
30 Jun. 2013
351 BCF
14 Jul. 2007
13 Jul. 2019
30 Oct. 2027
Awal/Start
Akhir/End
PT Pertamina Hulu Energy

West Madura Offshore
PJBG PHE WMO
West Madura
Offshore
Santos (Madura Offshore) Pty. Ltd.
GSA Santos Maleo
Maleo field
Husky CNOOC Madura Ltd.
GSA Husky
Madura BD field
20 MMSCFD
30 Oct. 2007
PJBG Medco S&CS
South and Central

Sumatera
PSC Block
41.900 BBTU
4 Dec. 2009
15 Oct. 2014**)
53.265,60 BBTU
4 Dec. 2009
Kuantitas yang
diperjanjikan
tercapai/
Contracted
quantity
delivered
PT Medco E&P Indonesia (MEI)
PT Medco E&P Lematang (MEL)
PJBG Medco
Lematang
Singa field,
Blok Lematang
PT Pertiwi Nusantara Resources (PNR)
PJBG PNR
Glagah Kambuna
12.86 BSCF
14 Apr. 2010
16 Mar. 2014
PT Bayu Buana Gemilang (BBG)
PJBG BBG
Lapangan Terang
Sirasun Batur
6,636 TBTU
30 Nov. 2011
31 Dec. 2013
PT Walinusa Energi (WNE)
PJBG WNE
Lapangan Terang
Sirasun Batur
10,474 TBTU
12 Jan. 2012
31 Dec. 2013
PT Inti Daya Latu Prima (IDLP)
PJBG IDLP
Blok Jambi - Merang 2.5 BBTUD***)
7 Feb. 2012
9 Feb. 2019
PT Indogas Kriya Dwiguna (IKD)
PJBG IKD
Lapangan Terang
Sirasun Batur
20 BBTUD
17 Feb. 2012
27 May. 2014
PT Sadikun Niagamas Raya (SNR)
PJBG SNR
Lapangan Terang
Sirasun Batur
40,6 TBTU
11 Apr. 2012
31 Dec. 2020
Kodeco Energy Co.,Ltd. dan/and

PT Pertamina Hulu Energi West Madura
Offshore
PT Nusantara Regas
Kesepakatan Bersama
Penyaluran Gas/
Collective Agreement Block West Madura
for Supply Gas
Offshore
Kesepakatan Bersama
Jual Beli Gas Bumi/
Collective Agreement
for the Sales Purchase
Gas
18 BBTUD
*)
Kesepakatan
tertulis para
pihak/Written
agreement from
31 Jul. 2012 all parties
19 Oct. 2012
Atau berlaku sampai dengan kuantitas yang diperjanjikan telah tercapai, mana yang terjadi lebih dahulu/Or it is valid until the contracted quantity is delivered,
whichever comes first
**) Sampai dengan tanggal laporan ini, perjanjian masih dalam proses untuk dijadikan satu dengan PJBG PEP Sumatera Selatan - Jawa Barat/Up to the date of this
report, the agreement is in the process for combining to PJBG PEP South Sumatera - West Java
***) Jumlah penyerahan harian untuk tahun 2012/Daily contract quantity for 2012.
144
Annual Report 2012
448

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
1.
1.
Gas Sale and Purchase Agreements

(GSPA) (continued)
Up to February 18, 2013, those agreements
have not been expired and the contracted
quantity is not fully delivered yet.
2.
Transportation Gas Agreement through

East Java Gas Pipeline System (EJGP)
On June 10, 2005, the Company and
PT Pertamina (Persero) (Pertamina), entered
into a Gas Distribution Agreement through
East Java Gas Pipeline System (EJGP)
whereby Pertamina agreed to provide gas
transportation from the linking point between
Maleo fork pipe to the delivery point. This
agreement will be terminated in eight years
after the agreed starting date or until the
termination of the Gas Sales Agreement
between the Company and Madura Offshore
PSC Contractors, whichever comes first. On
January 11, 2010, PT Pertamina (Persero)
(Pertamina), PT Pertamina Gas (Pertagas)
and the Company entered into a Novation
Agreement of EJGP Agreement whereby the
rights and obligations of Pertamina will be
transferred to Pertagas.
Perjanjian Jual Beli Gas (PJBG) (lanjutan)

perjanjian-perjanjian tersebut belum jatuh
tempo dan belum mencapai jumlah yang
diperjanjikan.
2.
3.
Perjanjian Penyaluran Gas melalui East

Java Gas Pipeline System (EJGP)
Pada tanggal 10 Juni 2005, Perusahaan dan
PT
Pertamina
(Persero)
(Pertamina)
menandatangani Perjanjian Penyaluran Gas
melalui East Java Gas Pipeline System
(EJGP), dimana Pertamina setuju memberikan
jasa transportasi gas dari titik hubung antara
pipa percabangan Maleo sampai titik
penyerahan. Perjanjian ini akan berakhir
delapan tahun sejak tanggal mulai yang
disepakati
atau
berakhirnya
Perjanjian
Penjualan Gas antara Perusahaan dan
Madura Offshore PSC Contractors, mana yang
lebih dahulu. Pada tanggal 11 Januari 2010,
PT
Pertamina
(Persero)
(Pertamina),
PT Pertamina Gas (Pertagas) dan Perusahaan
menandatangani Perjanjian Novasi atas
Perjanjian EJGP dimana hak dan kewajiban
Pertamina beralih ke Pertagas.
Pada
tanggal
23
Desember
2010,
Pertagas dan Perusahaan menandatangani
Amandemen Perjanjian Penyaluran Gas
melalui East Java Gas Pipeline System
(EJPG). Dimana kedua belah pihak setuju
untuk mengubah beberapa istilah dan definisi,
mengubah seluruh lampiran pada perjanjian
sebelumnya, ketentuan alat ukur dan tarif gas
yang terukur di titik pengiriman.
On December 23, 2010, Pertagas and the

Company entered into an Amendment of Gas
Distribution Agreement through East Java Gas
Pipeline System (EJGP). Whereby both parties
agreed to change certain terms and definitions,
change all attachments of previous agreement,
the terms of measuring instrument and the gas
rate which are measured at the delivery point.
Perjanjian Pemanfaatan Pipa Transmisi

Pertagas Area Jawa Bagian Barat
3. Pertagas West Java Gas Transportation

Pipeline Agreement

dan PT Pertamina Gas (Pertagas) telah
menandatangani
Kesepakatan
Bersama
Pemanfaatan Jaringan Pipa Transmisi Area
Jawa Bagian Barat Ruas Tegal Gede-NagrakBitung (WJGP), di mana Pertagas setuju
memberikan jasa transportasi gas dari stasiun
kompresor di Tegal Gede sampai dengan di
Serpong. Kapasitas yang disediakan untuk
pengangkutan
gas
tersebut
sebesar
40 mmscfd. Perjanjian berlaku untuk 12 bulan
sejak tanggal penandatangan perjanjian.
On December 22, 2009, the Company and

PT Pertamina Gas (Pertagas), entered into a
Gas Distribution Agreement through West
Java Tegal Gede-Nagrak-Bitung Gas Pipeline
System (WJGP) whereby Pertagas agreed to
provide gas transportation from compressor
station in Tegal Gede to Gas Measurement
Station in Serpong. The capacity provided for
gas transportation amounting to 40 mmscfd.
This agreement is valid for 12 months since the
signing date of the agreement.
145
Annual Report 2012
449

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
3.
Perjanjian Pemanfaatan Pipa Transmisi

Pertagas Area Jawa Bagian Barat (lanjutan)
3. Pertagas West Java Gas Transportation

Pipeline Agreement (continued)

dan Pertagas menandatangani Amandemen
Kesepakatan Bersama yang memperpanjang
jangka waktu sampai dengan 31 Desember
2012. Sampai dengan tanggal 18 Februari
2013, perpanjangan perjanjian ini masih dalam
proses.
On December 29, 2011, the Company and

Pertagas entered into the Amendment of
Collective Agreement which extended the
maturity date of the agreement until
December 31, 2012. Up to February 18, 2013,
the extension of this agreement is in process.
4.
Perjanjian Pengangkutan Gas
4. Transportation Gas Agreement
a. Perjanjian Pengangkutan Gas melalui

Jaringan Pipa Transmisi Sumatera
Selatan - Jawa Bagian Barat
a.
Transportation
Gas
Agreement
through South Sumatera - West Java
Gas Transportation Pipeline
On August 15, 2011, the Company and
PT PLN (Persero), entered into the
amendment
and
restatement
of
Transportation Gas Agreement through
Gas
Transmision
Pipeline
South
Sumatera-West Java for power center in
Muara Tawar (source of gas from Jambi
Merang) from Grissik to Muara Bekasi
whereby the Company agreed to provide
gas transportation service from Pulau
Gading field and Sungai Kenawang field
in Grissik to Muara Bekasi. The capacity
provided for gas transportation amounting
to 287 mmscfd. This agreement is valid
for 9 years since the signing date of the
agreement.
Pada
tanggal
15
Agustus
2011,
Perusahaan dan PT PLN (Persero) telah
menandatangani
amandemen
dan
pernyataan
kembali
Perjanjian
Pengangkutan Gas melalui Jaringan Pipa
Transmisi Sumatera Selatan - Jawa Bagian
Barat untuk pusat listrik Muara Tawar
(sumber gas dari Jambi Merang) dari
Grissik ke Muara Bekasi, dimana
Perusahaan setuju memberikan jasa
transportasi gas dari lapangan Pulau
Gading dan Lapangan Sungai Kenawang di
Grissik sampai dengan Muara Bekasi.
Kapasitas
yang
disediakan
untuk
pengangkutan gas tersebut sebesar
287 mmscfd. Perjanjian berlaku untuk 9
tahun sejak tanggal penandatanganan
perjanjian.
b. Perjanjian Pengangkutan Gas melalui
Jaringan
Pipa
Transmisi
Wampu
Belawan
b.
Transportation
Gas
Agreement
through
Wampu
Belawan
Gas
Transportation Pipeline
On September 26, 2012, the Company
and PT PLN (Persero) entered into the
amendment of Transportation Gas
Agreement through gas transmission
pipeline Wampu Belawan, whereby the
Company agreed to transmit the gas from
the Wampu Belawan transportation
pipeline. This agreement is valid until
December 31, 2012. On February 4,
2013, this agreement has been extended
until December 31, 2013.
Pada tanggal 26 September 2012,

Perusahaan dan PT PLN (Persero) telah
menandatangani
amandemen
Kesepakatan
Bersama
mengenai
pemanfaatan jaringan pipa transmisi
Wampu Belawan, dimana Perusahaan
setuju memberikan jasa transportasi gas
dari pipa transmisi Wampu Belawan.
Perjanjian ini berlaku sampai dengan
31 Desember 2012. Pada tanggal
4 Februari 2013 perjanjian ini telah
diperpanjang sampai dengan 31 Desember
2013.
146
Annual Report 2012
450

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
5.
5.
Perjanjian Proyek
Project Agreement
a.
Perusahaan memiliki Perjanjian Proyek

dengan ADB pada tanggal 31 Oktober
1995
sehubungan
dengan
Proyek
Transmisi dan Distribusi Gas, yang
dibiayai oleh ADB, JBIC dan EIB melalui
Perjanjian Pinjaman dengan Pemerintah
(Catatan
18).
Perjanjian
Proyek
menetapkan
kewajiban
Perusahaan
sebagai agen pelaksana Proyek, yang
meliputi penyediaan dan konstruksi jalur
pipa transmisi antara Grissik dan Duri,
jalur pipa (spur pipeline) dari Sakernan
ke Batam; penyediaan dan konstruksi
tambahan serta peralatan dan fasilitas
yang terletak di lokasi lain; jasa konsultasi,
manajemen
dan
keuangan,
serta
penguatan institusi Perusahaan dan
pengembangan sumber daya manusia.
Perjanjian Proyek ini berlaku sejalan
dengan perjanjian pinjaman dengan ADB.
a. The Company entered into a Project

Agreement with ADB dated October 31,
1995 in connection with the Gas
Transmission and Distribution Project,
which is funded in part by the ADB, JBIC
and EIB, through Loan Agreements with
the Government (Note 18). The Project
Agreement sets out the Companys
obligations as the executing agent of the
Project, which covers the supply and
construction of the transmission pipeline
between Grissik and Duri, and a spur
pipeline from Sakernan to Batam; supply
and construction of ancillary and offsite
equipment and facilities; consulting,
management and financial services, as
well as institutional strengthening of the
Company
and
human
resources
development. The Project Agreements
terms are in line with the loan agreement
with the ADB.
b.
Pada
tanggal
1
Oktober
2003,
Perusahaan
mengadakan
Perjanjian
Proyek dengan IBRD sehubungan dengan
komitmen untuk menjalankan Proyek
Restrukturisasi dan Penguatan Sektor
Energi Jawa-Bali.
b.
On October 1, 2003, the Company

entered into a Project Agreement with
IBRD in connection with the commitment
to execute the Java-Bali Power Sector
Restructuring and Strengthening Project.
c.

dan
Pemerintah
mengadakan
Perjanjian
Penerusan
Pinjaman
No.
SLA-1201/DP3/2006,
di
mana
Pemerintah meneruskan hasil pinjaman
dari IBRD kepada Perusahaan untuk
membiayai Proyek Pengembangan Pasar
Gas Domestik.
c.
On April 3, 2006, the Company and the

Government entered into the related
Subsidiary
Loan
Agreement
No. SLA-1201/DP3/2006, where the
Government relend the IBRD loan to the
Company, which shall be use to finance
the Domestic Gas Market Development
Project.
147
Annual Report 2012
451

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
6.
6.
Perjanjian Kerja Sama Operasi

a.
Joint Operation Agreement

a.

dan PT Citraagung Tirta Jatim (CTJ)
mengadakan perjanjian kerja sama
operasi yang diaktakan dengan Akta
Notaris No. 1 dari Notaris T. Trisnawati,
S.H. Dalam Akta Notaris tersebut
dinyatakan bahwa Perusahaan akan
menyediakan
tanah
seluas
sekitar
39.020 meter persegi yang terletak di
Surabaya untuk di bangun pusat
perbelanjaan oleh CTJ dengan nilai
sekitar
Rp336.245.000.000.
CTJ
berkewajiban
untuk
memberikan
kompensasi kepada Perusahaan berupa
pendirian
bangunan
dengan
nilai
Rp20.750.000.000, yang terdiri dari
gedung kantor dan rumah dinas
Perusahaan, serta pembayaran royalti
sebesar Rp200.000.000 termasuk pajak
penghasilan setiap tahunnya dari tanggal
20
Maret
2010
sampai
dengan
20 Maret 2031.
On April 2, 2004, the Company entered

into a joint operation agreement with
PT Citraagung Tirta Jatim (CTJ) which
was notarized by Notarial Deed No. 1 of
T. Trisnawati, S.H. Based on the Notarial
Deed, the Company will provide its land
covering 39,020 square meters located at
Surabaya for CTJ to build a shopping
centre with total value of approximately
Rp336,245,000,000. CTJ is obliged to
give compensation to the Company, in the
form of building compensation with total
value of Rp20,750,000,000, consisting of
the Companys office building and the
employees house, and annual royalty
payment for Rp200,000,000 including
income tax, from March 20, 2010 until
March 20, 2031.
CTJ will have the rights to operate the

shopping centre from the completion date
of the construction of the building
compensation, or on April 2, 2007,
whichever is earlier, up to the end of the
operational year or the end of the joint
operation agreement. At the end of the
operational phase, the shopping centre
will be transferred to the Company. This
agreement is valid for 28 years and will
expire on April 2, 2032.
CTJ akan diberi hak pengelolaan atas

bangunan pusat perbelanjaan tersebut
sejak selesainya pembangunan bangunan
kompensasi atau pada tanggal 2 April
2007, mana yang tercapai lebih dulu,
sampai
dengan
berakhirnya
tahap
pengelolaan
atau
pada
tanggal
berakhirnya perjanjian kerja sama operasi.
Pada akhir masa pengelolaan, bangunan
pusat perbelanjaan akan menjadi milik
Perusahaan. Perjanjian ini berlaku selama
28 tahun dan akan berakhir pada tanggal
2 April 2032.
148
Annual Report 2012
452

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
6.
6.
Perjanjian Kerja Sama Operasi (lanjutan)
Joint Operation Agreement (continued)

Based on the Notarial Deed No. 2 dated
April 2, 2004 of T. Trisnawati, S.H.
regarding operational agreement between
the Company and CTJ, CTJ will have the
rights to utilize, operate, manage, and
earn the benefit from the shopping centre,
and to enter into rental agreements. The
Company will give priority to CTJ to obtain
the right to operate and manage the
second operational phase for 25 years at
the end of the first operational phase,
which is April 2, 2032.
Berdasarkan Akta Notaris No. 2 tanggal

2 April 2004 dari Notaris T. Trisnawati,
S.H. mengenai perjanjian pengelolaan
antara Perusahaan dengan CTJ, CTJ
memperoleh hak pengelolaan, yang
meliputi hak menguasai, memanfaatkan,
menggunakan,
mengelola
bangunan
pusat
perbelanjaan,
memiliki
dan
menikmati
seluruh
hasilnya,
serta
membuat
atau
melakukan
semua
perjanjian sewa menyewa. Apabila tahap
pengelolaan telah berakhir, yaitu pada
tanggal 2 April 2032, Perusahaan akan
memberikan hak prioritas kepada CTJ
untuk memperoleh hak pengelolaan tahap
kedua dengan jangka waktu 25 tahun.
b.
b.
Pada tanggal 10 Maret 2005, Perusahaan

dan PT Winatek Sinergi Mitra Bersama
(WSMB) mengadakan perjanjian kerja
sama operasi dimana Perusahaan akan
menyediakan lahan yang terletak di
Jl. Kyai Haji Zainul Arifin No. 20, Jakarta
kepada WSMB untuk di bangun pusat
perbelanjaan dan perkantoran, termasuk
fasilitas parkir dan fasilitas pendukungnya,
senilai sekitar Rp80.000.000.000 atau
sepadan bangunan minimal 20.000 meter
persegi. WSMB berkewajiban untuk
memberikan kompensasi awal sebesar
Rp18.935.005.000 kepada Perusahaan,
berupa bangunan kompensasi seluas
12.250 meter persegi. Perusahaan akan
memberikan hak pengelolaan atas
bangunan kompensasi akhir berikut
dengan fasilitas pendukungnya kepada
WSMB.
149
On March 10, 2005, the Company entered

into a joint operation agreement with
PT Winatek Sinergi Mitra Bersama
(WSMB), whereby the Company will
provide its land located at Jl. Kyai Haji
Zainul Arifin No. 20, Jakarta for WSMB to
build a shopping centre and office building
including parking area and other
facilities with approximately value of
Rp80,000,000,000 or equal to the value at
a minimum of a 20,000 square meters
building. WSMB is obliged to give initial
compensation
amounting
to
Rp18,935,005,000 to the Company, in the
form of building compensation with an
area of 12,250 square meters. The
Company will give rights to WSMB to
operate the final building compensation
including the supporting facilities.
Annual Report 2012
453

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
6.
6.
Perjanjian Kerja Sama Operasi (lanjutan)
Joint Operation Agreement (continued)
Bangunan
kompensasi
akhir
akan
diserahterimakan kepada Perusahaan
setelah berakhirnya
tanggal efektif
perjanjian kerja sama operasi. Perjanjian
ini berlaku selama 28 tahun dan 6 bulan
sejak tanggal efektif perjanjian kerja sama
operasi ini. Perjanjian ini akan efektif
berlaku efektif jika beberapa ketentuan
dalam perjanjian telah terpenuhi atau
paling lambat tanggal 1 Juli 2005, mana
yang terlebih dahulu.
The final building compensation will be

transferred to the Company at the end of
the effective date of the joint operation
agreement. This agreement is valid for
28 years and 6 months from the effective
date of the joint operation agreement.
This agreement will be effective after
certain conditions are satisfied or at the
latest, until July 1, 2005, whichever is
earlier.
Perusahaan akan memberikan hak

prioritas
kepada
WSMB
untuk
memperoleh hak pengelolaan tahap
kedua dengan jangka waktu 25 tahun.
Perjanjian ini telah diubah pada tanggal
28 Juli 2005 (amandemen 1).
The Company will give priority to WSMB

to obtain the right to operate and manage
the second operational phase for
25 years. This agreement has been
amended
on
July
28,
2005
(amendment 1).
Pada tanggal 29 November 2005,

Perusahaan dan WSMB melakukan
perubahan atas perjanjian kerja sama
operasi (amandemen 2) diantaranya
tentang
luas
minimal
bangunan
keseluruhan yang akan dibangun dari
20.000 meter persegi senilai minimal
Rp80.000.000.000 menjadi 21.000 meter
persegi senilai minimal Rp80.000.000.000
dan masa berlakunya perjanjian dari
28 tahun dan 6 bulan menjadi 29 tahun.
On November 29, 2005, the Company

and WSMB amended the joint operation
agreement (amendment 2), relating to,
among others, the minimum building area
from 20,000 square meters with minimum
total value of Rp80,000,000,000 to 21,000
square meters with minimum total value of
Rp80,000,000,000 and the validity year of
the agreement from 28 years and
6 months to 29 years.
Perusahaan dan WSMB mengukuhkan

secara hukum perubahan atas perjanjian
kerja sama operasi (amandemen 1 dan 2)
tersebut di atas dengan akta notaris Anne
Djoenardi S.H., MBA No. 12 tertanggal
29 Maret 2006.
The Company and WSMB legally

amended the joint operation agreement
above (amendment 1 and 2) with Notarial
Deed No. 12 of Anne Djoenardi S.H.,
MBA dated March 29, 2006.
150
Annual Report 2012
454

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
7.
7.

dan PT Perkebunan Nusantara VII (Persero)
(PT PN VII) dengan PT Bank Mandiri
(Persero) Tbk (Bank Mandiri) menandatangani
Perjanjian
Pengelolaan
Rekening
Penampungan terkait dengan perjanjian ganti
rugi tanah PT PN VII yang terkena jalur pipa
transmisi gas bumi Perusahaan dalam rangka
proyek pipa transmisi SSWJ. Dalam perjanjian
ini, Perusahaan dan PT PN VII setuju untuk
membuka rekening penampungan di Bank
Mandiri, dimana Perusahaan harus melakukan
penyetoran
dengan
jumlah
minimal
Rp4.111.399.590 pada rekening tersebut dan
memberi kuasa kepada Bank Mandiri untuk
melaksanakan pengelolaan dana rekening
tersebut. Dana tersebut akan dipindahbukukan
oleh Bank Mandiri kepada PT PN VII dalam
dua tahap, yaitu:
a. Tahap pertama sebesar Rp1.152.123.022;
b. Tahap kedua sebesar Rp2.959.276.568.
This agreement is valid up to 12 months since

the date of signing date of the agreement or
until the completion of payment, whichever
comes first (Note 5).
Perjanjian ini berlaku sampai dengan 12 bulan

sejak tanggal penandatanganan perjanjian
atau sampai dengan selesainya pelaksanaan
pembayaran mana yang terjadi lebih dahulu
(Catatan 5).
8.
On November 22, 2006, the Company and

PT Perkebunan Nusantara VII (Persero)
(PT PN VII) with PT Bank Mandiri (Persero)
Tbk (Bank Mandiri) entered into Reserve
Account Management Agreement related to
compensation agreement of PT PN VIIs land
passed through by the Companys natural gas
transmission pipeline in relation with SSWJ
transmission pipeline project. Under this
agreement, the Company and PT PN VII
agreed to open reserve accounts in Bank
Mandiri, which the Company has to transfer
with minimum amount of Rp4,111,399,590 to
such account and gave an authority to Bank
Mandiri to maintain the funds in such account.
The funds will be transferred by Bank Mandiri
to PT PN VII in two phases, as follows:
a. First phase amounting to Rp1,152,123,022;
b. Second
phase
amounting
to
Rp2,959,276,568.
8.

mengadakan
kesepakatan
dengan
PT Pertamina (Persero) (Pertamina) dan
PT Perusahaan Listrik Negara (Persero) (PLN)
atas ketentuan-ketentuan pokok perjanjian
tentang pembentukan Perusahaan LNG
Receiving Terminal dalam rangka pemenuhan
kebutuhan
LNG
domestik.
Besarnya
permodalan dan persentase masing-masing
pihak dalam perusahaan tersebut akan diatur
lebih lanjut dalam Perjanjian Pemegang
Saham.
On April 17, 2009, the Company entered into

an agreement with PT Pertamina (Persero)
(Pertamina) and PT Perusahaan Listrik
Negara (Persero) (PLN) on the basic term of
agreement for the establishment of LNG
Receiving Terminal Company in order to fulfill
the LNG domestic needs. Total capital and
percentage of ownership of each party in this
company will be agreed further in the
Shareholder Agreement.
On February 4, 2010, the Company signed a

Shareholder Agreement for the Establishment
of Joint Venture of LNG Floating Storage and
Regasification
Terminal
(FSRT)
with
Pertamina. Under this agreement, both parties
agreed that the Company and Pertamina have
investments in the Joint Venture with
percentage of ownership of 40% and 60%,
respectively (Note 12).

telah menandatangani Perjanjian Pemegang
Saham Pembentukan Perusahaan Joint
Venture Floating Storage and Regasification
Terminal (FSRT) gas alam cair (LNG) dengan
Pertamina. Dalam perjanjian ini, kedua belah
pihak sepakat bahwa Perusahaan dan
Pertamina memiliki penyertaan dalam Joint
Venture dengan persentase kepemilikan
masing-masing sebesar 40% dan 60%
(Catatan 12).
151
Annual Report 2012
455

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

9.
9. Pada tanggal 6 Desember 2011, Hoegh LNG

Limited dan PT Rekayasa Industri dalam hal ini
selanjutnya
disebut
Konsorsium
dan
Perusahaan menandatangani Heads of
Agreement (HoA) terkait dengan Proyek
fasilitas Penyimpanan dan Regasifikasi
Terapung LNG Medan.
On December 6, 2011, Hoegh LNG Limited

and PT Rekayasa Industri, together herein as
the Consortium and the Company entered
into Heads of Agreement related to Medan
LNG Floating Storage and Regasification
Facilities Project.
Perjanjian ini berlaku sampai dengan mana

yang terjadi terlebih dahulu antara;
a) tanggal perjanjian
b) tanggal eksekusi atas perjanjian; atau
c) tanggal dimana para pihak memberikan
persetujuan
secara
tertulis
untuk
mengakhiri HoA.
This agreement is valid until on which the

earlier of the following occurs:
a) the agreement date;
b) the date of execution of the agreement; or
c) the date of the parties mutually agreed in
writing to terminate these HoA.
10. Pada tanggal 25 Januari 2012, Perusahaan,

PT Rekayasa Industri (Rekind) dan Hoegh
LNG
Limited
(Hoegh)
menandatangani
Umbrella Agreement terkait dengan Proyek
Fasilitas Penyimpanan dan Regasifikasi
Terapung (FSRT) LNG Medan. Perjanjian ini
berlaku sampai dengan 1 September 2013.
Pada tanggal 17 Oktober 2012, Perusahaan,
Rekind
dan
Hoegh
menandatangani
Amendment and Restatement Umbrella
Agreement terkait relokasi FSRT Medan ke
Lampung.
10. On January 25, 2012, the Company,

PT Rekayasa Industri (Rekind) and Hoegh
LNG Limited (Hoegh) entered into Umbrella
Agreement related to Medan LNG Floating
Storage and Regasification Facilities (FSRT)
Project. This agreement is valid until
September 1, 2013. On October 17, 2012, the
Company, Rekind and Hoegh entered into to
an Amendment and Restatement Umbrella
Agreement related to relocation the FSRT
Medan to Lampung.
11. Pada tanggal 25 Januari 2012, Perusahaan

dan
PT
Rekayasa
Industri
(Rekind)
menandatangani
Perjanjian
Rekayasa,
Pengadaan,
Konstruksi,
Instalasi
dan
Komisioning (EPCIC) atas Sistem Pipa untuk
Proyek
Fasilitas
Penyimpanan
dan
Regasifikasi Terapung LNG Medan. Dalam
perjanjian
ini,
Rekind
setuju
untuk
melaksanakan
pembangunan
mooring
system, sistem pipa dan stasiun gas terkait
dengan proyek FSRT LNG Medan. Perjanjian
ini berlaku sampai dengan 10 Maret 2014.
dan Rekind menandatangani amandemen
perjanjian ini sehubungan dengan relokasi
FSRT Medan ke Lampung.
11. On January 25, 2012, the Company and

PT Rekayasa Industri (Rekind) entered into
Engineering,
Procurement,
Construction,
Installation and Commissioning (EPCIC) of the
Pipeline System for Medan LNG Floating
Storage and Regasification Facilities Project
Agreement. In this agreement, Rekind agreed
to build mooring system, pipeline system and
gas station related to Medan LNG FSRT. This
agreement is valid until March 10, 2014. On
October 17, 2013, the Company and Rekind
entered into an amendment of this agreement
related to relocation the FSRT Medan to
Lampung.
152
Annual Report 2012
456

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
Transgasindo, Entitas Anak
Transgasindo, the Subsidiary
12. Pada tanggal 25 Januari 2012, Perusahaan,

dan
Hoegh
LNG
Limited
(Hoegh)
menandatangani perjanjian sewa, operasi dan
pemeliharaan atas proyek FSRT LNG Medan.
Dalam perjanjian ini, Hoegh bersedia untuk
menyediakan kapal FSRT untuk jangka waktu
selama 20 tahun. Pada tanggal 17 Oktober
2013,
Perusahaan
dan
Hoegh
menandatangani amandemen perjanjian ini
sehubungan dengan relokasi FSRT Medan ke
Lampung.
12. On January 25, 2012, the Company and Hoegh

LNG Limited (Hoegh) entered into lease,
operation and maintenance agreement for
Medan LNG FSRT project. In this agreement,
Hoegh agreed to provide FSRT vessel for
20 years. On October 17, 2013, the Company
and Rekind entered into an amendment of this
agreement related to relocation the FSRT
Medan to Lampung.
13. Perjanjian Transportasi Gas
13. Gas Transportation Agreements

In relation to its course of business,
Transgasindo entered into firm or interruptible
gas transportation agreements with shippers.
As of December 31, 2012, the summary of
outstanding gas transportation agreements is
as follows:
Dalam hubungan dengan kegiatan usahanya,

Transgasindo
mengadakan
perjanjian
transportasi gas baik yang bersifat tetap/firm
maupun tidak tetap/interruptible dengan pihak
pengirim/shippers. Pada tanggal 31 Desember
2012, ringkasan perjanjian transportasi gas
yang masih berlaku adalah sebagai berikut:
Perjanjian/
Agreements
Pengirim/
Shippers
Pengguna/
End-users
Jangka Waktu/
Terms
Jenis jasa/
Type of
services
Kapasitas dicadangkan
(MSCF/hari)/
Reserved capacity
(MSCF/day)
Awal/Start
Akhir/End
Jaringan Pipa Grissik-Duri/Grissik-Duri Pipeline

GTA I
Caltex
ConocoPhillips
(Grissik), Ltd.
PT Chevron
Pacific
Indonesia (CPI)
1 Jan. 2003 1 Jan. 2021
Tetap/Firm
304,900
28,100
GTA II
Caltex
ConocoPhillips
(Grissik), Ltd.
CPI
1 Jan. 2003 1 Jan. 2021
Tetap/Firm
122,000
78,000
GTA
CPI-3*)
ConocoPhillips
(Grissik), Ltd.
CPI
31 May 2010 10 Aug. 2021
Tetap/Firm
10,286
133,333
GTA
PGN
Perusahaan/
The Company
RAPP dan/and IKPP
1 Jun. 2010 31 May 2015
Tetap/Firm
10,860
10,860
GTA
PGN
Perusahaan/
The Company
Pertamina Lirik
dan/and Ukui
25 Jun. 2010 31 May 2015
Tetap/Firm
2,424
2,424
PT Energasindo
Heksa Karya
PLN
8 Jan. 2009 31 Dec. 2018
Tetap/Firm
20,000
20,000
PT Pertamina Hulu
Energi Jambi Merang;
Talisman (Jambi Merang)
Ltd.; Pacific Oil & Gas
(Jambi Merang) Ltd.
CPI
1 Apr. 2011 30 Jun. 2013
Tetap/Firm
22,000
22,000
GTA
Energas
GTA
Jambi Merang
- Duri
*) Jasa transportasi gas diperkirakan mulai pada tanggal 28 Mei 2013/Gas transportation service will commence on May 28, 2013
153
Annual Report 2012
457


DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
Transgasindo, Entitas Anak (lanjutan)
Transgasindo, the Subsidiary (continued)
13. Perjanjian Transportasi Gas (lanjutan)
Perjanjian/
Agreements
Pengirim/
Shippers
13. Gas Transportation Agreements (continued)
Pengguna/
End-users
Jangka Waktu/
Terms
Jenis jasa/
Type of
services
Kapasitas dicadangkan
(MSCF/hari)/
Reserved capacity
(MSCF/day)
Awal/Start
Akhir/End
Jaringan Pipa Grissik-Singapura/Grissik-Singapore Pipeline

GTA
Payo Selincah
PLN
PLN
7 Feb. 2012 31 Dec. 2019
Tetap/Firm
25,000
25,000
GTA
Rengat
PLN
PLN
8 Feb. 2012 31 Dec. 2019
Tetap/Firm
3,200
4,000
PT Gagas Energi
Indonesia
IKPP
10 Nov. 2012 9 Feb. 2019
Tetap/Firm
7,140
7,140
ConocoPhillips
(South Jambi), Ltd.;
ConocoPhillips
(Grissik), Ltd.;
PetroChina
Jabung, Ltd.
Gas Supply
Pvt, Ltd. (GSPL)
12 Sept. 2003 12 Sept. 2023
Tetap/Firm
195,000
402,500
Perusahaan/
The Company
Batam Distribution
Network (BDN)
dan/and PLN
13 Oct. 2004 26 Nov. 2019
Tetap/Firm
22,000
63,900
Perusahaan Daerah
Pertambangan dan
Energi Sumatera
Selatan (PDPDE)
PT Lontar Papyrus
Pulp & Paper
Industry
4 Apr. 2011 9 Feb. 2019
Tetap/Firm
8,000
12,000
PLN, Dalle Energy

dan/and Industrial
1 Jan. 2012 9 Feb. 2019
Tidak tetap/
Interruptible
20,000
20,000
GTA
Gagas Perawang
GTA
Singapore
GTA
Panaran
GTA PDPDE
IGTA
IDLP
14. Perjanjian yang Berkaitan dengan Jaringan

Pipa Grissik - Duri - Transgasindo
a.
14. Agreements Related to Grissik - Duri

Pipeline - Transgasindo
Perjanjian
Pengalihan
Aset
(Asset
Transfer Agreement), yang disahkan
dengan Akta Notaris Fathiah Helmi, S.H.,
No. 11 pada tanggal 9 Maret 2002.
Berdasarkan perjanjian ini, Perusahaan
menjual aset netonya di Unit Transmisi
Sumatera Tengah kepada Transgasindo.
Transgasindo membayar aset neto
tersebut dengan menerbitkan beberapa
wesel bayar pada tingkat harga yang telah
disepakati sebesar US$227.179.230.
a.
154
Asset Transfer Agreement, which is

covered by Notarial Deed No. 11 of
Fathiah Helmi, S.H., dated March 9, 2002.
Based on this agreement, the Company
sold its net assets in the Central
Sumatera Transmission Unit to the
Transgasindo. Transgasindo paid the
price of the net assets by issuing several
promissory notes at the agreed price,
which amounting to US$227,179,230.
Annual Report 2012
458

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

Pipa Grissik - Duri - Transgasindo (lanjutan)

Pipeline - Transgasindo (continued)
b.
Perjanjian Pinjam Pakai Tanah (Borrow

and Use of Land Agreement) tanggal
9 Maret 2002, di mana Perusahaan
memberikan izin kepada Transgasindo
untuk menggunakan tanah yang terletak
di jalur Jaringan Pipa Transmisi Grissik Duri dan bidang tanah lainnya yang
digunakan sebagai fasilitas penunjang
Jaringan Pipa Transmisi Grissik - Duri
demi kelangsungan kegiatan usaha
penyaluran gas, tanpa pembayaran
apapun.
b.
Borrow and Use of Land Agreement dated

March 9, 2002, whereby the Company
granted permission to Transgasindo for
the use of the plots of land located at the
Grissik - Duri Transmission Pipeline route
and other land used as supporting facility
of the Grissik - Duri Transmission Pipeline
for the purpose of continued gas
transmission business activities, without
any compensation.
Tanah yang dipinjam dan digunakan,

kecuali Tanah Negara, masih berstatus
tanah yang dikuasai dan/atau dimiliki oleh
Perusahaan
sampai
pada
saat
kepemilikan dan/atau hak atas tanah
tersebut
diserahkan
kepada
Transgasindo, atau dalam hal Tanah
Negara, sampai perjanjian peminjaman
dan penggunaan tanah tersebut dialihkan
kepada Transgasindo. Perjanjian ini
berlaku selama tiga tahun atau sampai
pada saat pelaksanaan penyerahan hak
milik atau perjanjian pengalihan, mana
yang lebih dulu, yang dapat diperpanjang
sampai saat penyampaian permohonan
yang tidak melebihi waktu satu bulan
sebelum tanggal berakhirnya perjanjian
ini.
The borrowed and used land, except the

State Land, will still have the status of
land acquired and/or owned by the
Company until such time as the land title
and/or
rights
is
transferred
to
Transgasindo, or in respect of the State
Land, until the borrow and use
agreements are novated to Transgasindo.
This agreement is valid for a term of three
years or the execution of the deed of
transfer of title and the novation
agreement, whichever is earlier, which
can be extended by submission of the
application not later than one month prior
to the expiration of this agreement.
Pada tanggal 13 September 2002,

Perusahaan
membuat
Perubahan
Perjanjian terhadap Perjanjian Pinjam
Pakai Tanah (Amendment of the Borrow
and Use of Land Agreement) dengan
Transgasindo untuk memasukkan tanah,
yang sertifikat tanahnya akan atau sedang
diajukan oleh Perusahaan, dan Tanah
Negara dengan luas sekitar 135 hektar.
Setelah penyerahan semua hak atas
tanah dan/atau sertifikat hak milik atas
tanah
(kecuali
Tanah
Negara),
Transgasindo harus membayar harga
tanah tersebut sebesar US$5.200.000
kepada Perusahaan.
On September 13, 2002, the Company

entered into the Amendment of the
Borrow and Use of Land Agreement with
Transgasindo to include the land, where
land certificates will be or is being applied
by the Company, and State Land, with a
scale approximately 135 hectars. Upon
transfer of all titles and/or title certificates
of the land (except the State Land),
Transgasindo shall pay the Company the
price of the land amounting to
US$5,200,000.
155
Annual Report 2012
459

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012


Jumlah ini akan menjadi piutang dalam

bentuk dan dengan penyerahan wesel
bayar kepada Perusahaan sesuai dengan
Perjanjian Wesel Bayar Tanah Grissik Duri (Grissik - Duri Land Promissory Note
Agreement). Perjanjian ini akan berakhir
pada saat pelaksanaan penyerahan hak
atas tanah dan perjanjian novasi. Pada
tanggal 31 Desember 2006, Transgasindo
telah membukukan tanah yang sertifikat
tanahnya sudah atas nama Transgasindo
sejumlah US$3.485.040.
This will be receivable in the form of and

by delivering to the Company promissory
notes pursuant to the Grissik - Duri Land
Promissory
Note
Agreement.
This
agreement is valid up to the execution of
the deed of transfer of title and the
novation agreement. As of December 31,
2006, the Transgasindo has recorded the
land wherein the certificates are under the
Transgasindos
name
totaling
to
US$3,485,040.

membuat Perubahan Perjanjian terhadap
Perjanjian
Pinjam
Pakai
Tanah
(Amendment to Agreement on Borrow and
Use of Land) dengan Transgasindo di
antaranya
perubahan
terhadap
konsideran
dengan
menambah
konsideran C, perubahan definisi Tanah
Negara, perubahan pasal 8 mengenai
jangka waktu perjanjian, perubahan pasal
9 mengenai pengakhiran perjanjian dan
perubahan
Lampiran
A
mengenai
deskripsi tanah.
On June 2, 2004, the Company entered

into the Amendment to Agreement on
Borrow and Use of Land with
Transgasindo, covering among others,
amendment of the recital by inserting
recital C, amendment of State Land
definitions, amendment of article 8
regarding term of agreement, amendment
of article 9 regarding termination of the
agreement
and
amendment
of
Attachment A regarding description of lot
of lands.
c.
c.

Perusahaan,
Transgasindo,
dan
Transasia
mengadakan
Perjanjian
Pengalihan
Aset
(Asset
Transfer
Agreement) di mana Perusahaan akan
membangun, menjual, dan menyerahkan
tambahan Fasilitas Kompresor Duri untuk
Jaringan Pipa Transmisi Grissik - Duri dan
Jaringan Pipa Transmisi Grissik Singapura (secara bersama-sama disebut
sebagai "Aset") dengan harga pembelian
sebesar US$470.000.000 pada tanggal
penyerahan, sesuai dengan syarat dan
kondisi dan perjanjian lain antara
Perusahaan dan pihak ketiga yang terkait
dengan, dan yang diperlukan untuk,
kepemilikan, operasi, pemeliharaan dan
perbaikan aset.
156
On November 12, 2002, the Company,

Transgasindo and Transasia entered into
an Asset Transfer Agreement wherein the
Company wishes to construct, sell, and
deliver additional Duri Compression
Facilities for the Grissik - Duri Pipeline
and the Grissik - Singapore Pipeline
(collectively referred to Assets) at the
purchase
price
amounting
to
US$470,000,000 at the transfer date,
subject to the terms and conditions and
any arrangements entered into by and
between the Company and third parties
that relate to, and are necessary for, the
ownership, operation, maintenance and
repair of the assets.
Annual Report 2012
460

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012


d.
d.
Pada tanggal 1 Desember 2011,

PT Pertamina Hulu Energi Jambi Merang
(PHE), Talisman (Jambi Merang) Limited
(Talisman) dan Pasific Oil & Gas (Jambi
Merang) Ltd. (PO&G), yang selanjutnya
bersama-sama disebut sebagai JOB
PTJM,
Perusahaan,
Transgasindo,
ConocoPhillips (Grissik) Ltd. (CPGL) dan
PT PLN (Persero) (PLN) menandatangani
Perjanjian Swap Gas. Dalam perjanjian
ini, Perusahaan dan Transgasindo setuju
untuk menyalurkan gas sehubungan
dengan Perjanjian Jual Beli Gas (PJBG)
antara JOB PTJM dengan PLN dan
CPGL dengan PT Chevron Pasific
Indonesia (CPI) dari JOB PTJM ke CPI
dan dari CPGL ke PLN dengan kapasitas
pengaliran sesuai dengan pasokan
masing-masing pihak yang terkait.
On December 1, 2011, PT Pertamina

Hulu Energi Jambi Merang (PHE),
Talisman
(Jambi
Merang)
Limited
(Talisman) and Pasific Oil & Gas (Jambi
Merang) Ltd. (PO&G), herein after
collectively referred to as JOB PTJM, the
Company, Transgasindo, ConocoPhillips
(Grissik) Ltd. (CPGL) and PT PLN
(Persero) (PLN) entered into a Gas Swap
Agreement. In this agreement, the
Company and Transgasindo agreed to
transport gas related to Gas Sales
Agreement (GSA) between JOB PTJM
with PLN and CPGL with PT Chevron
Pasific Indonesia (CPI) from JOB PTJM to
CPI and from CPGL to PLN with capacity
to be delivered based on the gas
availability from related parties.
Perjanjian ini akan berlaku sampai

dengan tanggal yang lebih awal dari:
This agreement is valid until the earliest

date of:
a) pembangunan dan komisioning jalur

pipa lateral JOB PTJM dari fasilitas
JOB PTJM di fasilitas Sungai
Kenawang ke jalur pipa PGN
Sumatera Selatan sampai Jawa Barat
di Grissik;
b) pengakhiran CPGL-CPI ARGSEA
serta
CPGL-Transgasindo
Gas
Transportation Agreements (GTA)
tertanggal 21 Desember 2000 dan
31 Mei 2010;
a) the construction and commissioning of

the JOB PTJM lateral pipeline from
the JOB PTJM facilities at Sungai
Kenawang to the PGN South
Sumatera to West Java pipeline at
Grissik;
b) the
terminantion
of
the
CPGL-CPI
ARGSEA
and
the
CPGL-Transgasindo
Gas
Transportation Agreements (GTA)
dated on December 21, 2000 and
May 31, 2010;
c) the termination of the JOB PTJM-PLN
Gas Sales Agreements (GSA) and the
PGN-PLN ARG GTA; or
c) pengakhiran JOB PTJM-PLN Gas

Sales Agreements (GSA) dan PGNPLN ARG GTA; atau
d) a Partys excercise of its termination

rights under the term agreed by the
parties in the agreement.
d) pelaksanaan hak pengakhiran kontrak

oleh
suatu
Pihak
berdasarkan
ketentuan yang disepakati dalam
perjanjian ini.
157
Annual Report 2012
461

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

Pipa Grissik - Singapura - Transgasindo
15. Agreements Related to Grissik - Singapore

Pipeline - Transgasindo
a.
a.

mengadakan
Tambahan
Perjanjian
terhadap Perjanjian Pengalihan Aset,
pada tanggal 12 November 2002 dengan
Transgasindo
dan
Transasia
yang
mengatur di antaranya pengalihan fasilitas
kompresor di Duri dan pipa Grissik Singapura pada tanggal penutupan yang
sudah disepakati dan pola pembagian
pendapatan antara Perusahaan dan
Transgasindo sebelum tahun pengalihan
aset di mana semua pihak menyetujui
untuk mengubah beberapa kondisi yang
terdapat dalam Perjanjian Pengalihan
Aset. Kepemilikan dan semua hak atas
aset
telah
diserahterimakan
dari
Perusahaan ke Transgasindo pada
tanggal 2 Juni 2004.
The purchase price is paid in two phases.

The
first
phase
amounting
to
US$189,000,000 is paid in installments by
Milestone Payment. The second phase
amounting to US$281,000,000 is paid by
Transgasindo by executing and delivering
to the Company a promissory note
(Grissik - Singapore Promissory Note).
Harga pembelian dibayar dalam dua

tahapan.
Tahap
pertama
sebesar
US$189.000.000 telah dibayar secara
bertahap melalui Milestone Payment.
Tahap kedua sebesar US$281.000.000
dibayar oleh Transgasindo dengan
mengeluarkan dan menyerahkan wesel
bayar (Wesel Bayar Grissik - Singapura)
kepada Perusahaan.
b.
On June 2, 2004, the Company entered

into Supplemental Agreement to the
Asset
Transfer
Agreement
dated
November 12, 2002 with Transgasindo
and Transasia covering the transfer of the
Duri compression facilities and Grissik Singapore pipeline at the closing date and
the terms of revenue sharing between the
Company and Transgasindo prior to asset
transfer date. All parties agreed to amend
certain specific conditions in the Asset
Transfer Agreement. The title and all
rights to the assets were transferred from
the Company to Transgasindo on
June 2, 2004.
b.

Perusahaan
mengadakan
Perjanjian
Kemitraan Strategis (Strategic Partnership
Agreement
atau
SPA)
dengan
Transgasindo,
Transasia,
Petronas
International Corporation Ltd., Conoco
Indonesia Holding Ltd., SPC Indo-Pipeline
Co. Ltd., dan Talisman Transgasindo Ltd.
untuk menetapkan syarat dan kondisi
yang
mengatur
operasional
dan
manajemen Transgasindo dan hubungan
antara pemegang saham.
158
On November 12, 2002, the Company

entered into a Strategic Partnership
Agreement (SPA) with Transgasindo,
Transasia,
Petronas
International
Corporation Ltd., Conoco Indonesia
Holding Ltd., SPC Indo-Pipeline Co. Ltd.,
and Talisman Transgasindo Ltd. to set
forth the terms and conditions which will
govern the operation and management of
Transgasindo and the relationship of the
shareholders.
Annual Report 2012
462

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

(lanjutan)

Masing-masing pemegang saham setuju

untuk mengambil dan membayar saham,
dan memberikan pinjaman pemegang
saham secara proporsional (sesuai
dengan komposisi pemegang saham pada
saat itu) sampai jumlah maksimum
sebesar
US$144.000.000
sebagai
committed funding untuk Jaringan Pipa
Transmisi Grissik - Singapura dan
menyediakan contingent funding dengan
jumlah maksimum US$15.000.000, jika
dipandang perlu. Committed funding akan
tersedia
setelah
diterimanya
pemberitahuan
pendanaan
dari
Transgasindo. Pemberitahuan tersebut
harus menyatakan apakah pendanaan
berupa tambahan modal atau pinjaman
pemegang saham.
Each shareholder agreed to take up and

pay for the shares, and provide
shareholder loans on pro rata portion
(based on their current shareholding) of
up to a maximum aggregate amount of
US$144,000,000 as committed funding in
respect of the Grissik - Singapore Pipeline
and to provide up to a maximum
aggregate amount of US$15,000,000 of
contingent
funding,
if
determined
necessary. The committed funding will be
made available upon receipt of the
funding notice from Transgasindo. The
notice shall specify whether such funding
shall comprise an equity contribution or a
shareholder loan.
Selama SPA berlaku, semua penerimaan

kas Transgasindo harus dimasukkan ke
dalam suatu akun arus kas umum dan
akan digunakan sesuai urutan prioritas
seperti telah diatur dalam SPA. Apabila
Transgasindo tidak mampu memenuhi
seperti
kewajiban
pembayarannya
dinyatakan dalam SPA, setiap pemegang
saham akan menyediakan dana secara
proporsional (sesuai komposisi pemegang
saham pada saat itu) maksimum tidak
melebihi US$100.000.000 atau jumlah
pokok terutang menurut Wesel Bayar
Grissik - Duri dan Wesel Bayar Grissik Singapura.
During the course of the SPA, all cash

receipts of Transgasindo shall be paid
into a general cash flow account and shall
be applied in the order of priority as set
out in the SPA. In the event that
Transgasindo is unable to fulfill any of its
payment obligations as set out in the
SPA, each shareholder shall provide its
pro rata portion (based on its then current
shareholding) of up to a maximum
aggregate amount of the lesser of
US$100,000,000 or the total principal
amount for the time being outstanding
under the Grissik - Duri Promissory Notes
and the Grissik - Singapore Promissory
Notes.

wesel bayar tersebut belum diterbitkan.
Up to February 18, 2013, such promissory

notes have not yet been issued.
c.
c.
Pada tanggal 4 Desember 2002 dan

28
Januari
2003,
Transgasindo
mengadakan
Perjanjian
Pinjaman
Pemegang Saham (Shareholder Loan
Agreement) dengan Transasia.
159
On
December
4,
2002
and
January 28, 2003, Transgasindo entered
into the Shareholder Loan Agreement
with Transasia.
Annual Report 2012
463

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

(lanjutan)


telah menyerahterimakan Aset (jaringan
pipa Grissik - Singapura dan fasilitas
kompresor Duri). Sehubungan dengan itu,
telah dibuat beberapa perjanjian penting
sebagai berikut:
On June 2, 2004, the Company

transferred Assets (Grissik - Singapore
pipeline and Duri compression facilities).
In relation with the transfer, Transgasindo
has entered into several other significant
agreements as follows:
Perjanjian Pinjam Pakai Tanah (Borrow

and Use of Land Agreement) dengan
Transgasindo yang meliputi bidang tanah
yang berlokasi di jalur Jaringan Pipa
Transmisi Grissik-Singapura dan bidang
tanah lain yang digunakan sebagai
fasilitas
penunjang
Jaringan
Pipa
Transmisi Grissik-Singapura. Sampai
dengan tanggal 31 Desember 2012,
Transgasindo telah membukukan tanah
yang sertifikat tanahnya sudah atas
nama
Transgasindo
sejumlah
US$1.621.527.
Borrow and Use of Land Agreement with

Transgasindo covering the plots of land
located
at
the
Grissik-Singapore
Transmission Pipeline route and other
land used as supporting facility of the
Grissik-Singapore Transmission Pipeline.
Up to December 31, 2012, Transgasindo
has recorded the land wherein the
certificates are under Transgasindos
name totaling to US$1,621,527.
SEI, Entitas Anak
SEI, the Subsidiary
16. Pada tanggal 19 Juli 2011, berdasarkan surat

No. 20649/12/DJM.E/2011, Direktorat Jenderal
Minyak dan Gas Bumi Kementerian Energi dan
Sumber Daya Alam menyatakan Konsorsium
PT Medco CBM Lematang - PT Methanindo
Energy Resources - Perusahaan sebagai
Badan Usaha Tetap dalam pengusahaan
Wilayah Kerja Gas Metana Batubara (GMB)
Blok GMB Lematang.
16. On July 19, 2011, based on letter

No. 20649/12/DJM.E/2011, the Directorate
General of Oil and Gas, Ministry of Energy and
Natural Resources stated that the Consortium
of PT Medco CBM Lematang - PT Methanindo
Energy
Resources
are
Permanent
Establishment Companies in developing of
Methane Coal Gas (GMB) fieldwork in the GMB
Lematang Block.
160
Annual Report 2012
464

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
SEI, Entitas Anak (lanjutan)
SEI, the Subsidiary (continued)

Subsequently, the consortium has provided a
letter of intent for the operation of GMB
Lematang Block and submitted the bank
guarantee in providing funds for:
Kemudian konsorsium menyampaikan surat

kesanggupan melaksanakan komitmen Blok
GMB Lematang dan menyampaikan bank
garansi dalam menyediakan dana untuk:
Signature Bonus sebesar US$1.000.000
Jaminan Pelaksanaan (Performance Bond)

senilai US$1.500.000 untuk membiayai
komitmen pasti masa eksplorasi sebesar
US$4.600.000 yang terdiri dari: G&G
Study, 2 (dua) Core Hole dan 2 (dua)
Sumur eksplorasi+Production Test, pada 3
tahun pertama masa eksplorasi, yang
berlaku sampai dengan 3 tahun setelah
kontrak ditandatangani.
Signature
Bonus
amounting
to
US$1,000,000
Performance
Bond
amounting
to
US$1,500,000
to
finance
fixed
commitments
for
exploration
phase
amounting to US$4,600,000, which consists
of: G&G Study, 2 (two) Core Hole and 2
(two) exploration wells+Production Test, in
the first 3 years of exploration phase, which
is valid until 3 years after the contract has
been signed.
The contract prescribes:

Fixed Commitments in the form of G&G
Study, 2 (two) Core Hole, and 2 (two)
Exploration Wells+Production Test, in first
3 years of exploration phase,
Kontrak ini mengatur antara lain:

Komitmen pasti berupa G&G Study,
2 (dua) Core Hole, dan 2 (dua) Sumur
Eksplorasi+Production Test, pada 3 tahun
pertama masa eksplorasi,
Menyetujui bagi hasil produksi antara

Pemerintah dengan kontraktor sebesar
55%:45% (after tax),
Membayar
signature
bonus
kepada
Pemerintah Republik Indonesia sebesar
US$1.000.000 (satu juta Dolar Amerika
Serikat),
Tidak
mengalihkan,
menjual
dan
memindahkan bagian interest atau group
interest (konsorsium) di Blok GMB
Lematang kepada pihak lain secara
mayoritas (lebih besar dari 50%) selama
3 tahun pertama masa eksplorasi,
Dan ketentuan lain yang tercantum dalam
Kontrak Kerja Sama dan Peraturan
Perundang-undangan yang berlaku.
161
Approve the production sharing results

between Government and contractors at
55%:45% (after tax),
Pay the signature bonus to Government of
the Republic of Indonesia amounting to
US$1,000,000,
Shall not transfer, sell and replace part or

group of interest (consortium) in GMB
Lematang Block, South Sumatera to other
party at major portion (more than 50%) for
the first 3 years of exploration phase,
And other terms stated in Joint Agreement

Contract and Applicable Laws and
Regulations.
Annual Report 2012
465

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
17. Pada tanggal 22 Juli 2011, telah

ditandatangani Nota Kesepakatan antara
PT Medco E&P Indonesia (MEPI), PT Sugico
Pendragon
Energi
(SUGICO)
dan
Perusahaan
mengenai
kerjasama
pengembangan Coal Bed Methane (CBM).
Perusahaan sepakat untuk menjadi mitra
MEPI dan SUGICO pada pengembangan
CBM di Blok Lematang - Petar dengan
kepemilikan participating interest sebesar
MEPI:
55%,
SUGICO:
40%,
dan
Perusahaan: 5%.
17. On July 22, 2011, PT Medco E&P Indonesia

(MEPI), PT Sugico Pendragon Energi
(SUGICO) and the Company entered into
Minutes of Understanding regarding Coal Bed
Methane (CBM) development. The Company
agreed to become a partner of Mitra MEPI &
SUGICO to develop CBM on Lematang-Petar
Block with ownership participating interest of
MEPI: 55%, SUGICO: 40%, and Company:
5%.
Kerjasama tersebut dituangkan dalam suatu

perjanjian tersendiri yang mengatur seluruh
hak dan kewajiban para pihak.
The cooperation will be prepared in a separate

agreement which regulates the rights and
obligations of the parties.
Biaya-biaya yang terkait dengan pelaksanaan

PSC CBM termasuk tetapi tidak terbatas pada
signature bonus, bank garansi atas signature
bonus dan performance bond merupakan
beban dan tanggung jawab setiap pihak
berdasarkan bagian participating interest
masing-masing pihak.
The costs related to PSC CBM implementation

include but not limited to signature bonus, bank
guarantee
for
signature
bonus
and
performance
bond
representing
the
responsibility of each parties based on their
participating interest.
Sehubungan
dengan
penandatanganan
Production
Sharing
Contract
(PSC)
untuk pengusahaan Gas Metana Batubara
(GMB) Area Lematang - Petar Sumatera
Selatan,
Perusahaan
pada
tanggal
22
Juli
2011
dengan
surat
No. 021200.S/HK.02/UT/2011 telah menunjuk
SEI untuk menandatangani PSC dengan
Pemerintah dan untuk selanjutnya mewakili
Perusahaan
dalam
hal
kerjasama
pengembangan CBM di Blok Lematang Petar. Pada tanggal 1 Agustus 2011, BP
Migas,
PT
Medco
CBM
Lematang,
PT Methanindo Energy Resources dan SEI
telah mendandatangani PSC.
In relation with Production Sharing Contract

(PSC) signing for Methane Coal Gas
(GMB) production, Lematang - Petar Area,
South Sumatera, the Company delegated
SEI on July
22, 2011 with letter
No. 021200.S/HK.02/UT/2011 to sign PSC with
Government and act on be half of Company for
CBM development cooperation in Lematang Petar Block. On August 1, 2011, BP Migas,
PT Medco CBM Lematang, PT Methanindo
Energy Resources and SEI have signed the
PSC.
162
Annual Report 2012
466

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
18. Pada tanggal 30 November 2012, PT Saka

Ketapang Perdana (SKP), Entitas Anak SEI,
menandatangani Perjanjian Jual dan Beli
kepemilikan participating interest sebesar
20% di Blok Ketapang dengan Sierra Oil
Services Limited senilai US$71.000.000.
Perjanjian ini akan berlaku efektif apabila
perjanjian ini telah mendapatkan persetujuan
dari Dirjen Minyak dan Gas Republik
Indonesia, serta Sierra Oil Services Limited
telah menyerahkan pengalihan JOA (Joint
Operating Agreement) dan Gas Sales
Agreement kepada SKP.
18. On November 30, 2012, PT Saka Ketapang

Perdana (SKP), a subsidiary of SEI, signed
Sales and Purchase Agreement of ownership
participating interest of 20% on Ketapang Block
with Sierra Oil Services Limited amounted to
US$71,000,000. This agreement will be
effective when this agreement has been
approved by Directorate General of Oil and
Gas of the Republic of Indonesia, and also
Sierra Oil Services Limited has submitted the
JOA (Joint Operating Agreement) and Gas
Sales Agreement Novation to SKP.
GEI, Entitas Anak
GEI, the Subsidiary
19. Pada tanggal 28 Desember 2011, GEI dan

PT
Sarana
Indo
Energi
(SIE)
menandatangani Perjanjian Jual Beli Gas
Bumi (PJBG), dimana SIE setuju untuk
menjual gas yang berasal dari perjanjian jual
beli gas antara SIE dengan PT Pertiwi
Nusantara Resources sebesar 464.800
MSCFD kepada GEI yang berasal dari
Lapangan Kandang Haur Timur. Perjanjian
ini berlaku sejak tanggal ditandatangani
sampai dengan tanggal 25 Oktober 2013.
PJBG ini dapat diperpanjang secara otomatis
untuk jangka waktu 3 tahun berikutnya saat
GEI menyampaikan pemberitahuan tertulis
kepada SIE. Pembayaran pembelian gas
dijamin dengan SBLC.
19. On December 28, 2011, GEI and PT Sarana

Indo Energi (SIE) signed a Gas Sale and
Purchase Agreement, whereby SIE agreed to
sell gas of 464,800 MSCFD to GEI from the
gas sale and purchase agreement between SIE
and PT Pertiwi Nusantara Resources from
Kandang Haur Timur Field. The agreement is
valid from the signing date until the expiry date
on October 25, 2013 and the agreement will be
automatically being extended up to the next 3
years when GEI give the written notice to SIE.
The gas purchases are covered by SBLC.
20. Pada tanggal 20 Maret 2012, GEI dan

PT
Nugas
Trans
Energy
(NTE)
Bumi (PJBG), dimana NTE setuju untuk
beli gas antara NTE dengan PT Gresik Migas
(GM) sebesar 4,245 TBTU kepada GEI.
Perjanjian ini berlaku sampai dengan tanggal
31 Desember 2015.
20. On March 20, 2012, GEI and PT Nugas Trans

Energy (NTE) signed a gas sale and purchase
Agreement, whereby NTE agreed to sell gas
totaling 4.245 TBTU to GEI from the gas sale
and purchase agreement between NTE and
PT Gresik Migas (GM). The agreement is valid
until December 31, 2015.
163
Annual Report 2012
467

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
\\\
GEI, Entitas Anak (lanjutan)
GEI, the Subsidiary (continued)
21. Pada tanggal 28 Mei 2012, GEI dan

PT
Granary
Global
Energy
(GGE)
Bumi (PJBG), dimana GGE setuju untuk
menjual gas sebesar 200.000 M3 kepada
GEI. Perjanjian ini berlaku sampai dengan
tanggal 29 Mei 2017.
21. On May 28, 2012, GEI and PT Granary Global

Energy (GGE) signed a Gas Sale and
Purchase Agreement, whereby GGE agreed to
sell gas totaling 200,000 M3 to GEI. The
agreement is valid until May 29, 2017.
22. Pada tanggal 22 Juni 2012, GEI dan

PT Gresik Migas (GM) menandatangani
Perjanjian Jual Beli Gas Bumi (PJBG),
dimana GM setuju untuk menjual gas
sebesar 0,5 BBTUD kepada GEI. Perjanjian
ini
berlaku
sampai
dengan
tanggal
31 Desember 2015.
22. On June 22, 2012, GEI and PT Gresik Migas

(GM) signed a Gas Sale and Purchase
Agreement, whereby GM agreed to sell gas
totaling 0.5 BBTUD to GEI. The agreement is
valid until December 31, 2015.
23. Pada tanggal 15 Agustus 2012, GEI dan

PT
Niaga
Gema
Teknologi
(NGT)
Bumi (PJBG), dimana NGT setuju untuk
beli gas antara PT Niaga Gema Teknologi
dengan PT Gresik Migas sebesar 255,60
TBTU kepada GEI. Perjanjian ini berlaku
sampai dengan tanggal 31 Desember 2014.
23. On August 15, 2012, GEI and PT Niaga Gema

Teknologi (NGT) signed a Gas Sale and
Purchase Agreement, whereby NGT agreed to
sell gas totaling 255.60 TBTU to GEI from the
gas sale and purchase agreement between
PT Niaga Gema Teknologi and PT Gresik
Migas. The agreement is valid until
December 31, 2014.
24. Pada tanggal 11 Oktober 2012, GEI dan

PT Taruko Energi (TE) menandatangani
Perjanjian Jual Beli Gas Bumi (PJBG),
dimana TE setuju untuk menjual gas yang
berasal dari perjanjian jual beli gas antara
PT Taruko Energi dengan PT Pengembangan
Investasi Riau sebesar 7,00 BBTUD kepada
GEI. Perjanjian ini berlaku sampai dengan
tanggal 9 Februari 2019.
24. On October 11, 2012, GEI and PT Taruko

Energi (TE) signed a Gas Sale and Purchase
Agreement, whereby TE agreed to sell gas
totaling 7.00 BBTUD to GEI from the gas sale
and purchase agreement between PT Taruko
Energi and PT Pengembangan Investasi Riau.
The agreement is valid until February 9, 2019.
25. Pada tanggal 12 November 2012, GEI dan

PT Sarana Indo Energi (SIE) menandatangani
Perjanjian Jual dan Beli Gas Bumi (PJBG)
dimana SIE setuju untuk menjual gas sebesar
3.000 MMBTUD kepada GEI. Perjanjian ini
berlaku sampai dengan 31 Oktober 2014.
25. On November 12, 2012, GEI and PT Sarana

Indo Energi (SIE) signed a Gas Sale and
Purchase Agreement, whereby SIE agreed to
sell gas totaling 3,000 MMBTUD to GEI. The
agreement is valid until October 31, 2014.
164
Annual Report 2012
468

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
35. IKATAN DAN KONTINJENSI
35. COMMITMENTS AND CONTINGENCIES

dan Transgasindo memiliki kontinjensi sebagai
berikut:
As of December 31, 2012, the Company and

Transgasindo had contingencies as follows:
1.
1.
Tanah yang terletak sepanjang 536 km jalur

pipa transmisi gas dari Grissik ke Duri masih
dalam proses sertifikasi. Selama proses
sertifikasi tanah, terdapat suatu masalah
dengan beberapa warga sekitar Tanjung
Jabung, yang tanahnya dipakai untuk
jaringan pipa Grissik - Duri, di mana mereka
menuntut kompensasi tambahan.
The Company is also named as one of

the Defendants in Case No. 06/PDT.G/2001/
PN.KTL which was filed by some inhabitants in
Tanjung Jabung (Plaintiff) on November 15,
2001 at the Kuala Tungkal State Court. Based
on the decision of the State Court dated
April 22, 2002, the Plaintiffs claim was
rejected, and the Plaintiff appealed to the
Jambi High Court. Based on Decision
No. 31/PDT/2002/PT.JBI, dated August 14,
2002, the Jambi High Court affirmed the Kuala
Tungkal State Courts decision, and the
Plaintiff appealed to the Supreme Court. Up to
February 18, 2013 the examination is still in
progress by the Supreme Court.
Perusahaan juga merupakan salah satu

Tergugat pada Perkara No. 06/PDT.G/2001/
PN.KTL yang diajukan warga sekitar Tanjung
Jabung
(Penggugat)
pada
tanggal
15 November 2001 ke Pengadilan Negeri
Kuala Tungkal. Berdasarkan keputusan
Pengadilan Negeri tanggal 22 April 2002,
gugatan para Penggugat ditolak dan
Penggugat
mengajukan
banding
ke
Pengadilan Tinggi Jambi. Berdasarkan
Putusan No. 31/PDT/2002/PT.JBI, tanggal
14 Agustus 2002, Pengadilan Tinggi Jambi
menguatkan putusan Pengadilan Negeri Kuala
Tungkal dan para Pembanding kemudian
mengajukan kasasi ke Mahkamah Agung.
pemeriksaan masih dilakukan oleh Mahkamah
Agung.
2.
The land covering the area along the 536 km

natural gas transmission pipeline from Grissik
to Duri is still in the certification process. During
the land certification process, there have been
disputes with several inhabitants of the land in
Tanjung Jabung used for the Grissik - Duri
pipeline,
who
are
claiming
additional
compensation.
2.
Perusahaan mengalami perselisihan dengan

salah satu pelanggannya, PT KHI Pipe
Industries (KHI) mengenai permasalahan
keterlambatan KHI dalam melaksanakan
pengiriman
pipa
untuk
proyek
pipa
transmisi
gas
bumi
berdasarkan
kontrak No. 002800.PK/244/UT/2005 tanggal
16 Juni 2005 (Kontrak Pagardewa - Labuhan
Maringgai) dan kontrak No. 003800.PK/244/
UT/2005 tanggal 29 September 2005 (Kontrak
Muara Bekasi - Rawa Maju). Jumlah yang
sedang
diperkarakan
adalah
sebesar
US$5.000.000. Pada tahun 2011, KHI
memutuskan untuk tidak melanjutkan proses
klaim tersebut ke Badan Arbitrase Nasional
Indonesia (BANI).
165
The Company is in dispute with one of its

customers, PT KHI Pipe Industries (KHI)
relating to the delay of pipe supply by KHI for
pipe gas transmission project based on the
agreement
No.
002800.PK/244/UT/2005,
dated June 16, 2005 (Pagardewa - Labuhan
Maringgai Agreement) and Agreement
No. 003800.PK/244/UT/2005,
dated
September 29, 2005 (Muara Bekasi - Rawa
Maju Agreement). The amount involved in the
dispute amounting to US$5,000,000. In 2011,
KHI decided not to pursue the claim process
to Indonesian National Board of Arbitration
(BANI).
Annual Report 2012
469

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
35. IKATAN DAN KONTINJENSI (lanjutan)
35. COMMITMENTS
(continued)
3.
3. Perusahaan mengalami perselisihan dengan

salah satu kontraktornya, CRW
Joint
Operation, sebuah kerja sama operasi yang
terdiri dari PT Citra Panji Manunggal,
PT Remaja Bangun Kencana Kontraktor dan
PT Winatek Widita berkenaan dengan adanya
keputusan Dispute Adjudication Board (DAB)
tanggal
25 November 2008, yang
memutuskan bahwa CRW Joint Operation
berhak
menerima
pembayaran
dari
Perusahaan sejumlah US$17.298.835 yang
terkait
dengan
pekerjaan
pemasangan
pipa gas yang berlokasi di Grissik berdasarkan
kontrak
Pagardewa,
No.002500.PK/243/UT/2006,
tanggal
28 Februari 2006, sebagaimana terakhir
diubah dengan amandemen No. 002000.AMD/
HK.02/UT/2008, tanggal
24 Oktober 2008.
Berdasarkan
keputusan
DAB
tersebut,
Perusahaan telah mengajukan Notice of
Dissatisfaction sehingga CRW Joint Operation
telah mengajukan permohonan penyelesaian
melalui International Court of Arbitration International Chamber of Commerce (ICC),
Paris.
AND
CONTINGENCIES
The Company is in dispute with one of its

contractors, CRW Joint Operation, which
consists of PT Citra Panji Manunggal,
PT Remaja Bangun Kencana Kontraktor and
PT Winatek Widita, relating to Dispute
Adjudication Board (DAB)s decision, dated
November 25, 2008, which decided that CRW
Joint Operation has a right to receive
payment from the Company amounting to
US$17,298,835, in relation with gas pipeline
transmission project in Grissik - Pagardewa,
based
on
the
agreement
No.
002500.PK/243/UT/2006,
dated
February 28, 2006, which was amended with
No.
002000.AMD/HK.02/UT/2008,
dated
October 24, 2008. Based on the DABs
decision, the Company has issued the Notice
of Dissatisfaction, therefore, CRW Joint
Operation has filed this case to the
International
Court
of
Arbitration
International Chamber of Commerce (ICC),
Paris.
On November 24, 2009, ICC has rendered

Arbitration Verdict as follows:
Pada tanggal 24 November 2009, ICC telah

memberikan putusan atas perkara ini dengan
putusan sebagai berikut:
Meminta Perusahaan untuk

sebesar US$17.298.835;
membayar
Required the Company to pay the amount

of US$17,298,835;
Meminta Perusahaan untuk membayar

biaya jasa hukum dan biaya lain-lain CRW
selama
proses
arbitrase
sebesar
US$428.009.
Required the Company to pay CRWs law

service fees and other expenses during
arbitration
process
amounting
to
US$428,009.
On February 23, 2010, the Company has filed

submissions to the High Court of Singapore to
set aside the ICC Award and Order of Court
to enforce ICC Award, dated January 7, 2010
to the High Court of the Republic of
Singapore (High Court). On April 8, 2010,
the High Court has issued decision to set
aside the ICC Arbitration Award.

mengajukan permohonan untuk membatalkan
putusan ICC dan Perintah Pelaksanaan ICC,
tertanggal 7 Januari 2010 kepada Pengadilan
Tinggi Republik Singapura. Atas permohonan
tersebut, pada tanggal 8 April 2010,
Pengadilan Tinggi telah mengeluarkan putusan
yang membatalkan Putusan Arbitrase ICC.
166
Annual Report 2012
470

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
35. COMMITMENTS
(continued)
AND
CONTINGENCIES
Terhadap putusan Pengadilan Tinggi tersebut,

pada tanggal 15 April 2010, CRW Joint
Operation mengajukan banding kepada Court
of Appeal Republik Singapura.
Based on High Courts Decision, on

April 15, 2010, CRW Joint Operation
appealed to the Court of Appeal of the
Republic of Singapore.
Pada tanggal 1 Desember 2010, telah

dilaksanakan hearing terkait perkara banding
tersebut di Court of Appeal Republik Singapura
dan pada tanggal 13 Juli 2011, Court of Appeal
Republik Singapura telah mengeluarkan
putusan yaitu permohonan banding ditolak
dengan pembebanan biaya. Semua biaya dan
pengeluaran yang terjadi sehubungan dengan
arbitrase ditanggung CRW.
On December 1, 2010, an appeal hearing

related to the case was held in Court of
Appeal of the Republic of Singapore and on
July 13, 2011, the Court of Appeal of the
Republic of Singapore has rendered verdict
that the appeal is dismissed with cost. All cost
and disbursement incurred in the arbitration
are to be borne by CRW.

menerima
surat
dari
Sekretariat
ICC
International Court of Arbitration - Asia Office
tertanggal
1
November
2011
yang
menginformasikan adanya pengajuan kembali
Request for Arbitration dari CRW kepada
Perusahaan melalui kuasa hukum Drew &
tanggal
Napier
LLC
melalui
surat
28 Oktober 2011.
On November 3, 2011, the Company received

letter from Secretariat of ICC International
Court of Arbitration - Asia Office dated
November 1, 2011, which inform the
resubmission of Request for Arbitration from
CRW against the Company through legal
counsel Drew & Napier LLC through a letter
dated October 28, 2011.

melalui kuasa hukumnya telah mengajukan
jawaban dan tuntutan balik (counterclaim)
melalui ICC terhadap permohonan arbitrase
yang diajukan oleh CRW. Adapun dalam
tuntutan balik tersebut, Perusahaan menuntut
agar Majelis Arbitrase ICC melakukan evaluasi
dan merevisi kewajiban yang harus dibayar
oleh Perusahaan dalam perkara Arbitrase ICC
tersebut. Pada tanggal 8 Juni 2012,
Perusahaan
mengajukan
Statement
of
Defence kepada Arbitrase ICC.
On December 30, 2011, the Company

through its legal counsel filed answer and a
counterclaim to ICC in relation to Request for
Arbitration from CRW. On the counter - claim,
the Company requested the ICCs Arbitral
Tribunal to evaluate and revise the liability
that should be paid by the Company in this
ICC Arbitration case. On June 8, 2012, the
Company submitted the Statement of
Defence to ICC Arbitration.
Pada tanggal 12 Oktober 2012, CRW telah

mengajukan
Claimants
Application
for
Interim/Partial Award kepada ICC. Atas
Claimants Application for Interim/Partial Award
yang diajukan oleh CRW tersebut, Perusahaan
telah menyampaikan Submissions of the
Respondent Against Application for Interim
Award kepada Arbitrase ICC pada tanggal
26 November 2012.
On October 12, 2012, CRW submitted the

Claimants Application for Interim/Partial
Award to ICC Arbitration. Upon Claimants
Application for Interim/Partial Award which
submitted by CRW, the Company submitted
Submissions of the Respondent Against
Application for Interim Award to ICC
arbitration on November 26, 2012.
Sampai dengan 18 Februari 2013, kasus ini

masih dalam proses pemeriksaan di Arbitrase
Internasional di Singapura.
Up to February 18, 2013, this case is still

being examined by the International
Arbitration in Singapore.
167
Annual Report 2012
471

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
35. COMMITMENTS
(continued)
4.
4. Perusahaan dilibatkan sebagai Tergugat I

dalam Perkara No. 665/PDt.G/2010/PN.Jkt.Bar
tanggal 6 Oktober 2010 yang diajukan oleh
PT Indosat Tbk (Penggugat) ke Pengadilan
Negeri Jakarta Barat terkait dengan kerusakan
fiber optik di Ruas Balamaja yang dilakukan
oleh
Perusahaan
(Tergugat
I)
dan
kontraktornya PT Nindya Karya (Tergugat II),
PT Citra Panji Manunggal (Tergugat III) dan
PT Promatcon Tepatguna (Tergugat IV).
Penggugat
menuntut
Perusahaan
dan
kontraktornya untuk membayar ganti rugi
sebesar Rp4.065.814.002.
AND
CONTINGENCIES
The Company is named as one of

the
Defendant
I
in
Case
No. 665/PDt.G/2010/PN.Jkt.Bar,
dated
October 6, 2010 filed by PT Indosat Tbk
(Plaintiff) to the West Jakarta State Court
regarding the damage of fiber optic in Ruas
Balamaja which created by the Company
(Defendant I) and its contractors (PT Nindya
Karya (Defendant II), PT Citra Panji
Manunggal (Defendant III) and PT Promatcon
Tepatguna (Defendant IV)). The Plaintiff
claimed the Company and its contractors to
fulfill the payment of material losses in the
amount of Rp4,065,814,002.
Pada tanggal 26 Juli 2011, Pengadilan Negeri

Jakarta Barat telah memberikan putusan atas
perkara ini dengan putusan sebagai berikut:
Dalam eksepsi, menyatakan Eksepsi yang
diajukan oleh Tergugat I, II, III dan IV tidak
dapat diterima. Dalam pokok perkara:
Menerima gugatan Penggugat untuk
sebagian;
Menolak
gugatan
Penggugat
untuk
Tergugat I;
Menyatakan Tergugat II, III dan IV telah
melakukan perbuatan melawan hukum;
Meminta Tergugat II, III dan IV membayar
ganti rugi kepada Penggugat sebesar
Rp2.020.144.161;
Meminta Tergugat II, III, dan IV untuk
jasa
hukum
sebesar
membayar
Rp581.000.
On July 26, 2011, West Jakarta State Court

has rendered its verdict as follows:
In the exception, it was stated that the
proposed exception by Defendants I, II, III
and IV is not acceptable. In the principal case:
Pada tanggal 11 Januari 2012, PT Indosat Tbk

mengajukan
Memori
Banding
kepada
Pengadilan Tinggi Jakarta atas Putusan
Pengadilan
Negeri
Jakarta
Barat
No. 655/PDT.G/2010/PN.JKT.BAR.
On January 11, 2012, PT Indosat Tbk

submitted the Memory of Appeals to Jakarta
High Court on West Jakarta State Courts
Decision No. 655/PDT.G/2010/PN.JKT.BAR.

mengajukan
Kontra
Memori
Banding
No.
418/IV/Deplit-Law/GDP/HP-AWP/12
terhadap Memori Banding tersebut.
On April 26, 2012, the Company has already

submitted Contra Memory of Appeals
No. 418/IV/Deplit-Law/GDP/HP-AWP/12 to
counterclaim the Memory of Appeals.

kasus ini masih dalam proses pemeriksaan di
Pengadilan Tinggi Jakarta.
Up to February 18, 2013, this case is still

being examined by the Jakarta High Court.
Accept part of the Plaintiffs claim;
Reject the Plaintiffs claim to Defendant I;
State that the Defendants II, III and IV

have violated the law;
Require the Defendants II, III and IV to
pay the compensation to Plaintiff
amounting to Rp2,020,144,161;
Require the Defendants II, III and IV to
pay the law service fee amounting to
Rp581,000.
168
Annual Report 2012
472

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

5.
35. COMMITMENTS
(continued)
AND
CONTINGENCIES

menerima surat dari Komisi Pengawas
Persaingan
Usaha
RI
(KPPU)
No.
1167/AK/KTP-PL/X/2010
perihal
Pemberitahuan Perkara No. 38/KPPU-L/2010.
Berdasarkan surat tersebut Perusahaan
ditetapkan sebagai Terlapor II karena adanya
dugaan
persekongkolan
vertikal
antara
Perusahaan dengan PT Kelsri sebagai
Terlapor I pada lelang Contract Package
No. 3A Bojonegara - Cikande Distribution
Pipeline.
5. On October 8, 2010, the Company received a

letter from Commission for Supervision of
(KPPU)
Business
Competition
No. 1167/AK/KTP-PL/X/2010 on Case
Announcement No. 38/KPPU-L/2010. Based
on such letter, the Company is stipulated as
Indicted II for the presumption of vertical
collusion between the Company with
PT Kelsri as Indicted I for the Contract
Package No. 3A Bojonegara - Cikande
Distribution Pipeline tender.
Pada tanggal 7 Maret 2011, KPPU telah

memberikan putusan atas perkara ini dengan
putusan sebagai berikut:
Menyatakan bahwa Terlapor I
dan II
terbukti secara sah melanggar Pasal 22
Undang-Undang No. 5 Tahun 1999 tentang
Larangan
Praktek
Monopoli
dan
Persaingan Usaha Tidak Sehat;
Meminta Terlapor I untuk membayar denda
sebesar Rp4.000.000.000;
Meminta Terlapor II untuk membayar
denda sebesar Rp6.000.000.000.
On March 7, 2011, KPPU has rendered a

verdict as follows:
On April 18, 2011, the Company has filed an

appeal to the District Court of West Jakarta on
KPPU decision. On January 4, 2012,
the
Company
received
court
call
No. 001/Pdt.P/KPPU/2011/PN.JKT.BAR which
principally informed that court related to the
Companys Objection will be started on
January 11, 2012 in West Jakarta State Court.
On March 26, 2012, West Jakarta State Court
has
rendered
its
verdict
No. 01/Pdt.P/KPPU/2011/PN.JKT/BAR
as
follows:

mengajukan upaya hukum keberatan atas
putusan KPPU ke Pengadilan Negeri Jakarta
Barat. Pada tanggal 4 Januari 2012,
Perusahaan memperoleh panggilan sidang
No. 001/Pdt.P/KPPU/2011/PN.JKT.BAR yang
pada pokoknya memberitahukan bahwa sidang
terkait upaya hukum keberatan akan dimulai
kembali pada tanggal 11 Januari 2012 di
Pengadilan Negeri Jakarta Barat. Pada tanggal
26 Maret 2012, Pengadilan Negeri Jakarta
Barat telah memberikan putusan dengan
No. 01/Pdt.P/KPPU/2011/PN.JKT.BAR atas
perkara ini dengan putusan sebagai berikut:
-
Stated that Indicted I and II have violated

legitimately Article 22 of Law No. 5 Year
1999 concerning on Prohibition against
Monopolistic
Practices
and
Unfair
Business Competition;
Required Indicted I to pay penalty
amounting to Rp4,000,000,000;
Required Indicted II to pay penalty
amounting to Rp6,000,000,000.
Sampai Menolak permohonan keberatan

dari para pemohon keberatan untuk
seluruhnya;
Menguatkan Putusan termohon keberatan
No. 38/KPPU-L/2010 tertanggal 7 Maret
2011;
Menghukum para pemohon keberatan
untuk membayar biaya perkara secara
tanggung renteng sebesar Rp1.322.000.
169
Rejected the whole objection from the

objection applicant;
Affirmed the decision No.

L/2010, dated March 7, 2011;
Required the objection applicant to pay the

law service fee amounting to Rp1,322,000.
Annual Report 2012
38/KPPU-
473

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
6.
35. COMMITMENTS
(continued)
AND
CONTINGENCIES
Pada tanggal 19 Juni 2012, Perusahaan telah

mengajukan memori kasasi terhadap putusan
Pengadilan Negeri Jakarta Barat. Atas
memeori
kasasi
yang
diajukan
oleh
Perusahaan dan PT Kelsri tersebut, KPPU
telah mengajukan Kontra Memori Kasasi pada
tanggal 13 November 2012.
On June 19, 2012, the Company has filed a

statement of appeal against the West Jakarta
State Courts decision. Upon the submission
of statement of appeal against the West
Jakarta State Courts decision from the
Company and PT Kelsri, KPPU has submitted
Counter Memory of Appeal on November 13,
2012.
Pada tanggal 7 Desember 2012, Pengadilan

Negeri Jakarta Barat telah mengirimkan
berkas perkara kasasi kepada Mahkamah
Agung.
On December 7, 2012, the West Jakarta State

Court has submitted the appeal documents to
the Supreme Court.

kasus ini masih dalam proses pemeriksaan
oleh Mahkamah Agung.
Up to February 18, 2013, the case is still

being examined by the Supreme Court.

menerima Surat Himbauan No. 015/SRPSI/VI/12 dari firma hukum yang ditunjuk oleh
Bapak M. Rimba Aritonang mengenai tuntutan
atas pemakaian Hak Kekayaan Intelektual atas
desain industri berupa sambungan pelindung
pipa. Atas kasus tersebut, Perusahaan dituntut
sebesar Rp10.000.000.000. Pada tanggal
20 Juni 2012, Perusahaan mengirimkan surat
balasan atas himbauan tersebut kepada firma
hukum tersebut.
6. On June 7, 2012, the Company received

Warning Letter No. 015/SRP-SI/VI/12 from
law firm hired by Mr. M. Rimba Aritonang
regarding the claim of Intellectual Property
Rights of industrial design protection pipe
connections used. Because of this case, the
Company
is
sued
amounting
to
Rp10,000,000,000. On June 20, 2012, the
Company has sent a Response Warning
Letter to the law firm.
Pada tanggal 14 November 2012, Penggugat

telah mendaftarkan gugatannya kepada
Panitera Pengadilan Niaga Pengadilan Negeri
Jakarta Pusat dengan total nilai perkara
Rp132.394.438.000.
Pada
tanggal
13 Desember 2012, Perusahaan telah
menyampaikan jawaban terhadap gugatan
Penggugat.
On November 14, 2012, the Plaintiff already

registered the claim to Panitera Pengadilan
Niaga Central Jakarta State Court with total
claim amounting to Rp132,394,438,000. On
December 13, 2012, the Company has
submitted the answer of the claim from the
Plaintiffs claim.

kasus ini masih dalam prose pemeriksaan
oleh Pengadilan.
Up to February 18, 2013, the case is still

being examined by the Court.
170
Annual Report 2012
474

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

7.
35. COMMITMENTS
(continued)
7.
Transgasindo sedang dalam sengketa dengan

salah satu kontraktornya, PT Global Industries
Asia Pasifik
(GIAP) dalam kaitannya
dengan kontrak No. ISVC 008260 dengan
jumlah klaim sebesar US$18.772.656 untuk
EPCC Proyek Perbaikan Pipa Bawah Laut
(Offshore Pipeline Repair Project). Pada
tanggal 24 November 2011, GIAP telah
mengajukan Statement of Case ke Arbitrase
Internasional di Singapura sedangkan pada
tanggal 2 Maret 2012, Transgasindo telah
mengajukan Statement of Defense ke
Arbitrase Internasional di Singapura.
AND
CONTINGENCIES
Transgasindo is in dispute with one of its

contractor, PT Global Industries Asia Pasific
(GIAP) in relation to the contract No.ISVC
008260 with total claim amounting to
US$18,772,656 for EPCC of Offshore Pipeline
Repair Project. On November 24, 2011, GIAP
has already submitted Statement of Case to
International Arbitration in Singapore, while on
March 2, 2012, Transgasindo has already
submitted Statement of Defense to the
International Arbitration in Singapore.
Pada tanggal 4 Mei 2012, GIAP juga telah

mengajukan Statement of Defense to
Counterclaim the Statement of Defense dari
Transgasindo. Pada tanggal 26 September
2012,
Transgasindo
dan
GIAP
telah
menyetujui persetujuan final atas tuntutan
GIAP dengan pihak Transgasindo setuju untuk
membayar sebesar US$6,9 juta. Pada tanggal
18 Oktober 2012, Consent Award telah
ditandatangani oleh Transgasindo dan GIAP
dan telah disetujui oleh Tribunal tanggal
24 Oktober 2012.
On May 4, 2012, GIAP has already submitted

Statement of Defense to Counterclaim the
Statement of Defense from Transgasindo. On
September 26, 2012, Transgasindo and GIAP
agreed the final settlement of GIAPs claim
with Transgasindo agreed to pay amounting
to US$6.9 million. On October 18, 2012,
Consent Award has been signed by
Transgasindo and GIAP and agreed by
Tribunal on October 24, 2012.
Pada
tanggal
12
Desember
2012,
Transgasindo telah melakukan pembayaran
US$6,9 juta kepada pihak GIAP.
On December 12, 2012, Transgasindo has

paid US$6.9 million to GIAP.
Manajemen dan konsultan hukum Perusahaan

dan Transgasindo berkeyakinan bahwa kasuskasus tersebut di atas secara sendiri-sendiri atau
bersama-sama tidak akan mempunyai pengaruh
yang material terhadap kondisi keuangan dan hasil
operasinya. Manajemen berkeyakinan bahwa
Perusahaan
dan
Transgasindo
dapat
memenangkan perkara-perkara tersebut.
The management of the Company and

Transgasindo and their legal counsels believe that
the above mentioned cases individually or in the
aggregate will not have any material adverse
effects on the financial condition or results of
operations. The management believes that the
Company and Transgasindo can win these cases.

memiliki ikatan sebagai berikut:
As of December 31, 2012, the Company had

commitments as follows:
8.
8.

masih memiliki fasilitas pinjaman yang masih
belum digunakan sesuai dengan perjanjian
penerusan pinjaman yang dibiayai oleh JBIC
sebesar JPY549.637.864 dan IBRD sebesar
US$7.616.230.
171
As of December 31, 2012, the Company has

an available loan facilities not yet drawn under
the subsidiary loan agreements financed by
JBIC amounting to JPY549,637,864 and IBRD
amounting to US$7,616,230.
Annual Report 2012
475

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

9.
35. COMMITMENTS
(continued)
9.

mengubah perjanjian fasilitas bank yang
diperoleh dari The Hongkong and Shanghai
Banking Corporation Ltd., Jakarta, pada
tanggal 25 September 2007. Perjanjian ini
merupakan fasilitas umum bank yang terdiri
dari fasilitas impor, fasilitas pinjaman kredit
impor, performance bonds dan guarantee
facility dengan batas maksimum gabungan
baru sebesar US$40.000.000 dari nilai
sebelumnya US$70.000.000. Perusahaan juga
mendapatkan fasilitas foreign exchange
sebesar US$36.500.000. Fasilitas ini telah
jatuh tempo pada tanggal 30 Juni 2012. Di
samping
itu,
Perusahaan
juga
wajib
memelihara rasio kemampuan membayar
utang minimum 1,3 kali dan rasio utang
terhadap kekayaan neto maksimum sebesar
2,33 kali. Pada tanggal 31 Desember 2012,
fasilitas ini belum digunakan. Sampai dengan
tanggal 18 Februari 2013, perpanjangan
perjanjian fasilitas ini masih dalam proses.
AND
CONTINGENCIES
On December 2, 2011, the Company amended

the banking facilities agreement obtained from
Corporation Ltd., Jakarta, on September 25,
2007. This agreement represents general
banking facilities which consist of import facility,
credit import loan facility, performance bonds
and guarantee facility with new total combined
limit of US$40,000,000 from the old limit
US$70,000,000. The Company also obtained
foreign exchange facility amounting to
US$36,500,000. All the facilities have been
expired on June 30, 2012. Furthermore, the
Company shall also maintain debt service ratio
at a minimum of 1.3 times and debt to equity
ratio at a maximum of 2.33 times. As of
December 31, 2012, this facility has not been
used. Up to February 18, 2013, the extension
of this facilities agreement is still in process.
10. Pada
tanggal
28
September
2012,
Perusahaan
memperpanjang
perjanjian
fasilitas Non Cash Loan yang terdiri dari
Standby Letter of Credit (SBLC), Bank
Garansi, SKBDN dan L/C Impor yang
diperoleh dari PT Bank Mandiri (Persero) Tbk
dengan maksimum nilai plafon sebesar
US$150.000.000. Fasilitas ini akan jatuh
tempo pada tanggal 26 Agustus 2013. Di
samping
itu,
Perusahaan
juga
wajib
memelihara rasio kemampuan membayar
utang minimum 130% dan rasio utang
terhadap modal maksimum sebesar 300%.
Pada tanggal 31 Desember 2012, fasilitas
yang
belum
digunakan
sebesar
US$81.635.469.
10. On September 28, 2012, the Company

extended the Non Cash Loan facility agreement
which consist of Standby Letter of Credit
(SBLC), Guarantee Bank, SKBDN and L/C
Import obtained from PT Bank Mandiri (Persero)
Tbk with a maximum limit of US$150,000,000.
The facility will mature on August 26, 2013.
Furthermore, the Company shall also maintain
debt service ratio at minimum of 130% and debt
to equity ratio at maximum of 300%. As of
December 31, 2012, the facility which has not
been used amounted to US$81,635,469.
11. Pada
tanggal
28
September
2012,
Perusahaan mendapatkan fasilitas Supply
Chain Financing - sub limit dari fasilitas Non
Cash Loan (NCL) yang diperoleh dari PT Bank
Mandiri (Persero) Tbk, dengan nilai plafon
sebesar US$5.000.000. Fasilitas ini akan jatuh
tempo pada tanggal 26 Agustus 2013. Pada
tanggal 31 Desember 2012, fasilitas ini belum
digunakan.
11. On September 28, 2012, the Company received

Supply Chain Financing Facility - sub limit from
Non Cash Loan (NCL) Facility from
PT Bank Mandiri (Persero) Tbk with a maximum
limit of US$5,000,000. This facility will mature
on August 26, 2013. As of December 31, 2012,
this facility has not been used.
172
Annual Report 2012
476

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
35. COMMITMENTS
(continued)
AND
CONTINGENCIES
12. Pada tanggal 19 Desember 2011, Perusahaan

mengubah Corporate Facility Agreement
dengan PT ANZ Panin Bank (Bank ANZ). Bank
ANZ akan menyediakan fasilitas Payment
Guarantee dengan maksimum nilai plafon baru
sebesar US$75.000.000 dari nilai plafon lama
sebesar US$70.000.000. Fasilitas ini telah
jatuh tempo pada tanggal 28 Februari 2012.
dengan Bank ANZ melakukan amandemen
Corporate Facility Agreement dimana kedua
pihak setuju untuk memperpanjang tanggal
pengakhiran fasilitas dari 28 Februari 2012
menjadi 28 Februari 2013. Pada tanggal
31 Desember 2012, fasilitas yang belum
digunakan sebesar US$1.797.241.
12. On December 19, 2011, the Company amended

Corporate Facility Agreement with PT ANZ
Panin Bank (Bank ANZ). Bank ANZ will provide
Payment Guarantee with a new maximum limit
of US$75,000,000 from the previous maximum
limit of US$70,000,000. The facility has expired
on February 28, 2012. On April 16, 2012, the
Company and Bank ANZ amended Corporate
Facility Agreement which both parties have
agreed to extend the termination date of the
facility from February 28, 2012 to February 28,
2013. As of December 31, 2012, the unused
facility amounted to US$1,797,241.
13. Pada tanggal 19 Desember 2012, Perusahaan

mendapatkan fasilitas Non Cash Loan (NCL)
yang diperoleh dari PT Bank Negara Indonesia
(Persero) Tbk yang terdiri dari Standby Letter
of Credit (SBLC), Bank Guarantee, Letter of
Credit (L/C) dan SKBDN, dengan maksimum
nilai plafon sebesar US$140.000.000. Fasilitas
ini akan jatuh tempo pada 18 Desember 2013.
Di samping itu Perusahaan juga wajib
memelihara current ratio tidak kurang dari 1
kali, debt to equity ratio maksimal 3 kali dan
EBITDA terhadap interest tidak kurang dari
200%. Sampai pada tanggal 31 Desember
2012, fasilitas ini belum digunakan.
13. On December 19, 2012, the Company received

Non Cash Loan (NCL) facility from PT Bank
Negara Indonesia (Persero) Tbk which consist
of Standby Letter of Credit (SBLC), Bank
Guarantee, Letter of Credit (L/C) and SKBDN
with a maximum limit of US$140,000,000. The
facility will mature on December 18, 2013.
Furthermore, the Company shall also maintain
current ratio not less than 1 time, debt to equity
ratio at a maximum 3 times and EBITDA to
interest not less than 200%. As of
December 31, 2012, the facility has not been
used.
14. Pada tanggal 29 Maret 2011, Perusahaan

memperpanjang perjanjian fasilitas SBLC yang
diperoleh dari PT Bank Rakyat Indonesia
(Persero) Tbk (BRI) dengan maksimum nilai
plafon sebesar US$96.244.000. Fasilitas ini
jatuh tempo pada tanggal 10 Oktober 2011.
dengan BRI menandatangani adendum
perjanjian
kredit
dengan
perubahan
penambahan nilai plafon atas fasilitas Standby
Letter of Credit (SBLC)/Fasilitas Bank Garansi
(merupakan sub limit fasilitas SBLC)/
Penangguhan Jaminan Impor (PJI) menjadi
US$210.000.000. Fasilitas ini akan jatuh
tempo pada tanggal 11 Juni 2013. Pada
tanggal 31 Desember 2012, fasilitas yang
belum digunakan sebesar US$7.411.357.
14. On March 29, 2011, the Company extended the

SBLC obtained from PT Bank Rakyat Indonesia
(Persero) Tbk (BRI) with a maximum limit of
US$96,244,000. The facility matured on
October 10, 2011. On June 11, 2012, the
Company and BRI signed amendment of credit
agreement with changes in additional amount of
maximum limit of Standby Letter of Credit
(SBLC)/Bank Guarantee Facility (a sub limit of
SBLC
Facility)/the
guarantees
of
the
suspension of import (PJI) to become
US$210,000,000. This facility will mature on
June 11, 2013. As of December 31, 2012, the
unused facility amounted to US$7,411,357.
173
Annual Report 2012
477


DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
35. COMMITMENTS
(continued)
AND
CONTINGENCIES
15. Perusahaan mempunyai ikatan pengeluaran

modal sehubungan dengan konstruksi dan
pengembangan
Proyek
Transmisi
dan
Distribusi Gas yang telah diikat dengan
perjanjian kontrak (Catatan 7, 8 dan 34).
15. The Company has capital expenditure

commitments relating to the development and
construction of Gas Transmission and
Distribution Projects, which have been
committed under the related contractual
agreements (Notes 7, 8 and 34).
16. Perusahaan mempunyai ikatan pembelian

sesuai dengan Perjanjian Pembelian Gas
(Catatan 34.1) dan ikatan penjualan dengan
pelanggan sesuai dengan Perjanjian Jual Beli
Gas.
16. The Company has purchase commitments

under Gas Purchase Agreements (Note 34.1)
and sales commitments with customers under
Gas Sales and Purchase Agreements.
36. LABA PER SAHAM
36. EARNINGS PER SHARE

The following presents the reconciliation of the
numerators and denominators used in the
computation of earnings per share:
Berikut ini adalah rekonsiliasi faktor-faktor

penentu perhitungan laba per saham:
31 Des. 2012/Dec. 31, 2012

Total Laba Tahun
Berjalan Yang
Dapat Diatribusikan
Kepada Pemilik
Entitas Induk/
Total Profit for
for the Year
Attributable to
Owners of
the Parent Entity
__________________________________
Dasar
Rata-rata Tertimbang
Saham Biasa
yang beredar/
Jumlah
Weighted-Average
Laba per Saham/
Number of Ordinary Earnings per Share
Shares Outstanding
Amount
890,885,456
24,239,658,196
0.04
Basic
31 Des. 2011 (Disajikan Kembali)/Dec. 31, 2011 (As Restated)

Total Laba Tahun
Berjalan Yang
Dapat Diatribusikan
Kepada Pemilik
Entitas Induk/
Rata-rata Tertimbang
Total Profit for
Saham Biasa
for the Year
yang beredar/
Jumlah
Attributable to
Weighted-Average
Laba per Saham/
Owners of
Number of Ordinary Earnings per Share
the Parent Entity
Shares Outstanding
Amount
Dasar
680,804,733
24,239,658,196
0.03
Basic
Diluted earnings per share is the same as the basic

earnings per share since the Company does not
have potential dilutive securities.
Laba per saham dilusian adalah sama dengan

laba per saham dasar karena Perusahaan tidak
memiliki efek berpotensi dilutif.
174
Annual Report 2012
478

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
37. KEBIJAKAN DAN TUJUAN MANAJEMEN RISIKO

KEUANGAN
37. FINANCIAL RISK MANAGEMENT OBJECTIVES

AND POLICIES
MANAJEMEN RISIKO
RISK MANAGEMENT
Liabilitas keuangan utama Kelompok Usaha

meliputi utang usaha dan lain-lain, liabilitas yang
masih harus dibayar dan pinjaman jangka
panjang. Tujuan utama dari liabilitas keuangan ini
adalah untuk mengumpulkan dana untuk operasi
Kelompok Usaha. Kelompok Usaha juga
mempunyai berbagai aset keuangan seperti kas
dan setara kas dan piutang usaha, yang
dihasilkan langsung dari kegiatan usahanya.
The principal financial liabilities of the Group

consist of trade and other payables, accrued
liabilities and long-term loans. The main purpose of
these financial liabilities is to raise funds for the
operations of the Group. The Group also has
various financial assets such as cash and cash
equivalents and trade receivables, which arised
directly from their operations.
Bisnis Kelompok Usaha mencakup aktivitas

pengambilan risiko dengan sasaran tertentu
dengan pengelolaan yang profesional. Fungsi
utama dari manajemen risiko Kelompok Usaha
adalah untuk mengidentifikasi seluruh risiko kunci,
mengukur risiko-risiko ini dan mengelola posisi
risiko. Kelompok Usaha secara rutin menelaah
kebijakan dan sistem manajemen risiko untuk
menyesuaikan dengan perubahan di pasar,
produk dan praktek pasar terbaik.
The Groups business involves taking on risks in a

targeted
manner
and
managing
them
professionally. The core functions of the Groups
risk management are to identify all key risks for the
Group, measure these risks and manage the risk
positions. The Group regularly reviews its risk
management policies and systems to reflect
changes in markets, products and best market
practice.
Tujuan Kelompok Usaha dalam mengelola risiko

keuangan adalah untuk mencapai keseimbangan
yang
sesuai
antara
risiko
dan
tingkat
pengembalian dan meminimalisasi potensi efek
memburuknya kinerja keuangan Kelompok
Usaha.
The Groups aim in managing the financial risks is

to achieve an appropriate balance between risk
and return and minimize potential adverse effects
on the Groups financial performance.
Kelompok Usaha mendefinisikan risiko keuangan

sebagai kemungkinan kerugian atau laba yang
hilang, yang disebabkan oleh faktor internal dan
eksternal yang berpotensi negatif terhadap
pencapaian tujuan Kelompok Usaha.
The Group defines financial risk as the possibility of

losses or profits foregone, which may be caused by
internal or external factors which might have
negative potential impact to the achievement of the
Groups objectives.
Direksi menyediakan kebijakan tertulis manajemen

risiko secara keseluruhan, termasuk kebijakan
tertulis untuk area khusus, seperti risiko nilai tukar
mata uang, risiko tingkat bunga, risiko harga, risiko
kredit, risiko likuiditas penggunaan instrumen
keuangan derivatif dan non-derivatif. Kelompok
Usaha
mengidentifikasi,
mengevaluasi
dan
melakukan aktivitas lindung nilai secara ekonomis
atas risiko keuangan. Masing-masing unit bisnis
melaksanakan manajemen risiko berdasarkan
kebijakan-kebijakan yang disetujui oleh Direksi.
Komite Manajemen Risiko memonitor pelaksanaan
manajemen risiko yang dilaksanakan oleh
Kelompok Usaha.
The Directors provide written policies for overall risk

management, as well as written policies covering
specific areas, such as foreign exchange risk,
interest rate risk, price risk, credit risk, liquidity risk
use of derivative financial instruments and nonderivative financial instruments. The Group
identifies, evaluates and economically hedges its
financial risks. Each business unit carries out the risk
management based on the written policies approved
by the Directors. Risk Management Committee
monitors the risk management carried out by the
Group.
175
Annual Report 2012
479

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

KEUANGAN (lanjutan)
MANAJEMEN RISIKO (lanjutan)
Manajemen risiko dilaksanakan oleh Komite
Manajemen Risiko dengan kebijakan-kebijakan
yang disetujui oleh Dewan Direksi. Kelompok
Usaha
mengidentifikasi,
mengevaluasi
dan
melakukan aktivitas lindung nilai secara ekonomis
atas risiko keuangan. Dewan Direksi menyediakan
kebijakan tertulis manajemen risiko secara
keseluruhan, termasuk kebijakan tertulis untuk area
khusus, seperti risiko nilai tukar mata uang, risiko
suku bunga, risiko kredit, risiko likuiditas,
penggunaan instrumen keuangan derivatif dan
non-derivatif.

AND POLICIES (continued)
RISK MANAGEMENT (continued)
Risk management is carried out by Risk
Management Committee under policies approved by
the Board of Directors. The Group identifies,
evaluates and economically hedges financial risks.
The Board of Directors provides written principles for
overall risk management, as well as written policies
covering specific areas, such as foreign exchange
risk, interest rate risk, credit risk, liquidity risk, use of
derivative financial instruments and non-derivative
financial instruments.
Risiko yang berasal dari instrumen keuangan

Kelompok Usaha adalah risiko keuangan, termasuk
diantaranya adalah risiko kredit, risiko pasar dan
risiko likuiditas.
The risks arising from financial instruments to

which the Group is exposed are financial risks,
which includes credit risk, market risk and liquidity
risk.
a. Risiko Kredit
a. Credit Risk
Risiko kredit adalah risiko kerugian keuangan

yang timbul jika pelanggan Kelompok Usaha
gagal memenuhi kewajiban kontraktualnya
kepada Kelompok Usaha. Risiko kredit terutama
berasal dari piutang usaha yang diberikan
kepada pelanggan dari penjualan gas.
Credit risk is the risk of suffering financial loss,

when the Groups customers fail to fulfill their
contractual obligations to the Group. Credit risk
arises mainly from trade receivables from the
sale of gas to customers.
(i) Pengukuran risiko kredit
(i) Credit risk measurement
Estimasi terhadap eksposur kredit adalah

proses yang kompleks dan memerlukan
penggunaan model, dimana nilai dari suatu
produk
bervariasi
tergantung
dengan
perubahan pada variabel-variabel pasar,
arus kas masa depan dan rentang waktu.
The estimation of credit exposure is

complex and requires the use of models, as
the value of a product varies with changes
in market variables, expected cash flows
and the passage of time.
Kelompok Usaha telah mengembangkan

model untuk mendukung kuantifikasi dari
risiko kredit. Dalam mengukur risiko kredit
untuk piutang yang diberikan, Kelompok
Usaha mempertimbangkan Probability of
Default (PD) pelanggan atas kewajiban dan
kemungkinan
rasio
pemulihan
atas
kewajiban yang telah wanprestasi (Loss
Given Default) (LGD). Model ini ditelaah
secara rutin untuk membandingkan dengan
hasil aktualnya.
The Group has developed models to

support the quantification of the credit risk.
In measuring credit risk of receivables, the
Group considers the Probability of Default
(PD) by the customers on its obligations
and the likely recovery ratio on the
defaulted obligations (Loss Given Default)
(LGD). The models are reviewed regularly
to compare to actual results.
LGD merupakan ekspektasi Kelompok

Usaha atas besarnya kerugian dari suatu
piutang pada saat wanprestasi terjadi. Hal ini
dinyatakan dalam persentase kerugian per
unit dari suatu eksposur. LGD biasanya
bervariasi sesuai dengan tipe pelanggan.
LGD represents the Groups expectation of

the extent of loss on a receivable should
default occur. It is expressed as percentage
loss per unit of exposure. LGD typically
varies by the type of customers.
176
Annual Report 2012
480

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

KEUANGAN (lanjutan)

a. Risiko Kredit (lanjutan)
a. Credit Risk (continued)

(ii) Risk limit control and mitigation policies
(ii) Pengendalian batas risiko dan kebijakan

mitigasi
Jaminan
Deposits
Kelompok Usaha menerapkan berbagai

kebijakan dan praktik untuk memitigasi risiko
kredit. Praktik yang umum dilakukan adalah
dengan meminta jaminan dalam bentuk (kas
atau standby L/C senilai dua bulan
pemakaian gas).
The Group implements a range of policies

and practices to mitigate credit risk. The
most common practice of these is the taking
of deposits in form of (cash or standby L/C
equivalent to two months gas usage).
(iii) Impairment and provisioning policies
(iii) Penurunan nilai dan kebijakan pencadangan

Cadangan penurunan nilai yang diakui pada
pelaporan keuangan hanyalah kerugian yang
telah terjadi pada tanggal laporan keuangan
konsolidasian (berdasarkan bukti obyektif
atas penurunan nilai).
Impairment allowances are recognized for

financial reporting purposes only for losses
that have been incurred at the date of the
consolidated financial statements (based on
objective evidence of impairment).
(iv) Eksposur maksimum risiko kredit tanpa

memperhitungkan jaminan
(iv)Maximum exposure to credit risk before

deposit held
Eksposur risiko kredit terhadap aset pada

laporan posisi keuangan konsolidasian
Credit risk exposure relating to assets in the

consolidated statement of financial position
is as follows:
Eksposur maksimum/
Maximum exposure
31 Des. 2012/
Dec. 31, 2012
Piutang usaha - neto
258,652,097
5,068,328
Trade receivables - net

Total
263,720,425
Total
With respect to credit risk arising from the

other financial assets, which comprise cash
and cash equivalents and restricted cash,
the Groups exposure to credit risk arises
from default of the counterparty. The Group
has a policy not to place investments in
instruments that have a high credit risk and
only put the investments in banks with a
high credit ratings.The maximum exposure
equal to the carrying amounts as disclosed
in Notes 7 and 8.
Sehubungan dengan risiko kredit yang timbul

dari aset keuangan lainnya yang mencakup
kas dan setara kas dan kas yang dibatasi
penggunaannya, risiko kredit yang dihadapi
Kelompok Usaha timbul karena wanprestasi
dari counterparty. Kelompok Usaha memiliki
kebijakan untuk tidak menempatkan investasi
pada instrumen yang memiliki risiko kredit
tinggi dan hanya menempatkan investasinya
pada bank-bank dengan peringkat kredit
yang tinggi. Nilai maksimal eksposur adalah
sebesar
nilai
tercatat
sebagaimana
diungkapkan pada Catatan 7 dan 8.
177
Annual Report 2012
481


DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

KEUANGAN (lanjutan)

a. Risiko Kredit (lanjutan)
a. Credit Risk (continued)
(iv) Eksposur maksimum risiko kredit tanpa

memperhitungkan jaminan (lanjutan)
(iv)Maximum exposure to credit risk before

deposit held (continued)
Konsentrasi risiko aset keuangan dengan

eksposur risiko kredit:
Concentration of risks of financial assets

with credit risk exposure:
(a) Sektor geografis
(a) Geographical sectors

The following table breaks down the
Groups credit exposure at their carrying
amounts,
as
categorized
by
geographical
region
as
of
December 31, 2012. For this table, the
Group has allocated exposures to
regions based on the geographical area
which activities are undertaken.
Tabel berikut menggambarkan rincian

eksposur kredit Kelompok Usaha pada
nilai
tercatat
yang
dikategorikan
berdasarkan area geografis pada tanggal
31 Desember 2012. Untuk tabel ini,
Kelompok Usaha telah mengalokasikan
eksposur area berdasarkan wilayah
geografis tempat mereka beroperasi.
31 Des. 2012/Dec. 31, 2012
Jawa
Sumatera

216,231,124
4,081,146
42,420,973
987,182

Total
220,312,270
43,408,155
Total
(b) Customer types
(b) Jenis pelanggan
The following table breaks down the

Groups credit exposure at carrying
amounts (without taking into account
any collateral held or other credit
support), as categorized by the main
operations.
Tabel berikut ini menggambarkan rincian

eksposur kredit Kelompok Usaha pada
nilai tercatat (tanpa memperhitungan
agunan atau pendukung kredit lainnya),
yang dikategorikan berdasarkan operasi
utama.
31 Des. 2012/Dec. 31, 2012
Tidak mengalami
penurunan nilai/
Non impaired
Mengalami
penurunan nilai/
Impaired
Total/
Total
Distribusi
Transmisi
Operasi lainnya
216,659,254
17,521,606
3,787,094
24,519,006
9,847,598
-
241,178,260
27,369,204
3,787,094
Distribution
Transmission
Other operations
Total
237,967,954
34,366,604
272,334,558
Total
Dikurangi:
Cadangan kerugian
penurunan nilai
Neto
237,967,954
(13,682,461)
(13,682,461)
20,684,143
258,652,097
178
Annual Report 2012
Less:
Allowance for impairment
losses
Net
482

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

KEUANGAN (lanjutan)

b. Risiko Pasar
b. Market Risk
Kelompok Usaha memiliki eksposur terhadap

risiko pasar, yaitu risiko tingkat bunga dan risiko
mata uang asing.
The Group is exsposed to market risk, in

particular interest rate risk and foreign currency
risk.
Risiko tingkat bunga arus kas adalah risiko

dimana arus kas masa depan dari suatu
instrumen
keuangan
berfluktuasi
karena
perubahan suku bunga pasar.
Cash flow interest rate risk is the risk that the

future cash flows of a financial instrument will
fluctuate because of changes in market interest
rates.
Kelompok Usaha memiliki pinjaman jangka

pendek dan jangka panjang dengan bunga
variabel. Kelompok Usaha akan memonitor
secara ketat pergerakan suku bunga di pasar
dan apabila suku bunga mengalami kenaikan
yang signifikan maka Perusahaan akan
menegosiasikan kembali suku bunga tersebut
dengan para lender.
The Groups short-term and long-term loans

are charged with variable interest rates. The
Group will strictly monitor the market interest
rates fluctuation and if the interest rates
significantly increased, they will renegotiate the
interest rate to the lenders.
Kelompok Usaha juga melakukan transaksi

swap suku bunga untuk menyesuaikan risiko
suku bunga yang terasosiasi dengan efek utang
jangka panjang dengan tingkat bunga variabel,
akan tetapi tidak memberlakukan akuntansi
lindung nilai.
The Group also enters into interest rates swap

to match the interest rate risk associated with
the variable rates long-term loans, however no
hedge accounting is applied.
(i) Risiko tingkat bunga
(i) Interest rate risk
Kelompok Usaha memiliki eksposur terhadap

dampak fluktuasi tingkat suku bunga pasar
yang berlaku baik atas risiko nilai wajar
maupun arus kas.
The Group takes an exposure to the effects

of fluctuations in the prevailing levels of
market interest rates, both its fair value and
cash flow risks.
Tabel di bawah ini mengikhtisarkan eksposur

nilai wajar instrumen keuangan Kelompok
Usaha terhadap risiko tingkat bunga.
The table below summarizes the Groups

fair value exposures to interest rate risks.
31 Des. 2012/Dec. 31, 2012
Bunga tetap/
Fixed rate
Lebih dari 1 bulan

sampai dengan
3 bulan/
Over 1 month up to
3 months
Lebih dari 3 bulan

sampai dengan
1 tahun/
Over 3 months
up to 1 year
Pinjaman jangka
panjang jatuh tempo
dalam waktu 1 tahun
Pinjaman jangka
panjang - setelah
dikurangi bagian
jatuh tempo dalam
waktu 1 tahun
635,644,005
182,333,518
22,029,004
Total
647,189,520
254,729,226
36,715,009
11,545,515
72,395,708
Lebih dari
1 tahun/
Over 1 year
14,686,005
179
Annual Report 2012
Total/
Total
98,627,228
Current maturities
of long-term
loans
840,006,527
Long-term loans net of current

maturities
938,633,755
Total
483

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

KEUANGAN (lanjutan)

b. Risiko Pasar (lanjutan)
b. Market Risk (continued)

(ii) Interest rate risk (continued)
(ii) Risiko tingkat bunga (lanjutan)

Analisa sensitivitas untuk risiko suku bunga
Sensitivity analysis for interest rate risk

suku bunga pinjaman meningkat/menurun
sebesar 50 basis poin dengan semua variabel
konstan, laba sebelum manfaat (beban) pajak
tersebut
lebih
rendah/tinggi
sebesar
US$1.098.802 terutama sebagai akibat
kenaikan/penurunan
biaya
bunga
atas
pinjaman dengan tingkat bunga mengambang.
As of December 31, 2012, if the interest

rates of the loans have been 50 basis
points higher/lower with all other variables
held constant, profit before tax benefit
(expense) for the year then ended would
have been US$1,098,802 lower/higher,
mainly as a result of higher/lower interest
expense on loans with floating interest
rates.
(ii) Foreign exchange risk
(ii) Risiko mata uang asing

Risiko mata uang asing adalah risiko atas
perubahan nilai tukar Dolar Amerika Serikat
sebagai mata uang pelaporan terhadap
mata uang asing, khususnya Rupiah dan
Yen Jepang. Risiko ini muncul disebabkan
aset, liabilitas dan transaksi operasional
Kelompok Usaha didominasi oleh mata uang
asing sehingga pelemahan Dolar Amerika
Serikat terhadap mata uang asing tersebut
dapat mempengaruhi kinerja Kelompok
Usaha.
Foreign exchange risk is the risk that arise

from the changes of exchange rate of US
Dollar as reporting currency against
foreign currencies, especially Rupiah and
Japanese Yen. Assets, liabilities and
operational transactions of the Group are
denominated
in
foreign
currencies,
therefore, the weakening of US Dollar will
influence the financial performance of the
Group.
Risiko mata uang asing adalah risiko dimana

nilai wajar dari arus kas masa depan dari
instrumen keuangan akan berfluktuasi yang
disebabkan perubahan nilai tukar mata uang
asing. Dampak fluktuasi tingkat mata uang
asing Kelompok Usaha terutama berasal dari
Yen Jepang yang didenominasi dari
pinjaman jangka panjang.
Foreign exchange rate risk is the risk that

the fair value or future cash flows of a
financial instrument will fluctuate because of
changes in foreign exchange rates. The
Groups exposure to exchange rate
fluctuations results primarily from Japanese
Yen which denominated from long-term
loans.
Untuk mengatur risiko mata uang asing,

Perusahaan melakukan kontrak cross
currency swap. Kontrak ini akan dicatat
sebagai transaksi bukan lindung nilai,
dimana perubahan atas nilai wajar akan
masuk dalam laporan laba rugi komprehensif
konsolidasian tahun berjalan.
To manage foreign exchange rate risks, the

Company entered into cross currency swap
contract. This contract is accounted as
transaction not designated as hedge,
wherein the changes in the fair value are
charged or credited directly to the
consolidated statement of comprehensive
income for the current year.
Sebagian besar pembelian gas dalam mata

uang Dolar Amerika Serikat juga dijual dalam
Dolar Amerika Serikat, sehingga lindung nilai
atas risiko nilai tukar mata uang asing terjadi
secara alami. Saat ini, liabilitas yang timbul
dari pembiayaan dalam mata uang asing tidak
dilindung nilai.
Most purchases of gas in US Dollar are also

sold in US Dollar, thus naturally hedging the
related
foreign
currency
exposures.
Currently, liabilities denominated in foreign
currency arising from financing activities are
not hedged.
180
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484

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

KEUANGAN (lanjutan)

b. Risiko Pasar (lanjutan)
b. Market Risk (continued)

(ii) Foreign exchange risk (continued)
(ii) Risiko mata uang asing (lanjutan)

Kelompok Usaha mempunyai aset dan
liabilitas moneter dalam mata uang asing
pada tanggal 31 Desember 2012 yang
disajikan pada Catatan 39.
The Group had monetary assets and

liabilities denominated in foreign currencies
as of December 31, 2012 which are
presented in Note 39.
Analisa sensitivitas untuk risiko mata uang

asing
Sensitivity analysis for foreign exchange

risk
Pada tanggal 31 Desember 2012, jika nilai

tukar Dolar Amerika Serikat terhadap mata
uang asing meningkat sebanyak 10% dengan
semua variabel konstan, laba sebelum
manfaat (beban) pajak untuk tahun yang
berakhir pada tanggal tersebut lebih rendah
sebesar US$9.067.698, terutama sebagai
akibat kerugian/keuntungan translasi kas dan
setara kas dan pinjaman dalam mata uang
asing, sedangkan jika nilai tukar Dolar
Amerika Serikat terhadap mata uang asing
menurun sebanyak 10%, maka laba sebelum
manfaat (beban) pajak untuk tahun yang
berakhir pada tanggal tersebut lebih tinggi
sebesar US$11.088.572.
As of December 31, 2012, if the exchange

rates of the US Dollar against foreign
currencies appreciated by 10% with all
other variables held constant, profit before
tax benefit (expense) for the year then
ended would have been US$9,067,698
lower, mainly as result of foreign exchange
losses/gains on the translation of cash and
cash equivalents and loans denominated in
foreign currencies, while, if the exchange
rates of the US Dollar against foreign
currencies depreciated by 10%, profit
before tax benefit (expense) for the year
then
ended
would
have
been
US$11,088,572 higher.
(iii) Price risk
(iii) Risiko harga

Kelompok Usaha mempunyai investasi dalam
obligasi
yang
nilai
wajarnya
sangat
terpengaruh dengan risiko harga pasar.
Kelompok Usaha mengelola risiko ini dengan
mendiversifikasikan ke beberapa investasi.
Dewan Direksi melakukan audit dan
menyetujui setiap keputusan investasi jangka
pendek.
The Group has investment in bonds which

the fair value of these investments are
affected by the market price risk. The Group
manages this risk through diversification the
investments. Board of Directors reviews
and approves all short-term investments
decision.
Analisa sensitivitas untuk risiko harga
Sensitivity analysis for price risk

harga pasar investasi meningkat/menurun
sebesar 10% dengan semua variabel konstan,
investasi jangka pendek Kelompok Usaha
tersebut
lebih
rendah/tinggi
sebesar
US$10.828.603.
As of December 31, 2012, if the price rates

of the investment have been 10%
higher/lower with all other variables held
constant, the short-term investments for the
year then ended would have been
US$10,828,603 lower/higher.
181
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485


DAN ENTITAS ANAK
KONSOLIDASIAN
37. KEBIJAKAN DAN TUJUAN
RISIKO KEUANGAN (lanjutan)

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
MANAJEMEN

c. Risiko Likuiditas
c. Liquidity Risk
Risiko likuiditas adalah risiko dimana Kelompok

Usaha tidak bisa memenuhi liabilitas pada saat
jatuh tempo. Kelompok Usaha melakukan
evaluasi dan pengawasan yang ketat atas arus
kas masuk (cash-in) dan kas keluar (cash-out)
untuk memastikan tersedianya dana untuk
memenuhi kebutuhan pembayaran liabilitas yang
jatuh tempo. Secara umum, kebutuhan dana
untuk pelunasan liabilitas jangka pendek maupun
jangka panjang yang jatuh tempo diperoleh dari
pelunasan piutang usaha dari pelanggan yang
memiliki jangka waktu kredit satu bulan.
Liquidity risk is the risk that the Group is unable

to meet its obligations when they fall due. The
Group evaluates and monitors cash-in flow and
cash-out flow to ensure the availability of funds
to settle the due obligation. In general, funds
needed to settle the current and long-term
liabilities are obtained from settlement of trade
receivables from the customers with one month
credit term.
Tabel dibawah merupakan profil liabilitas

keuangan Kelompok Usaha berdasarkan kontrak
pembayaran.
The table below summarizes the maturity

profile of the Groups financial liabilities based
on contractual payments.
31 Des. 2012/Dec. 31, 2012
Dibawah 1 tahun/
Below 1 year
Liabilitas keuangan
Utang usaha
Liabilitas yang masih
harus dibayar
jangka pendek
Utang lain-lain
Utang derivatif
Pinjaman jangka panjang
Total
Lebih dari 1
tahun sampai
dengan 2 tahun/
Over 1 year
up to 2 years
187,367,270
36,870,235
157,372
Lebih dari
3 tahun/
Over 3 years
Total/
Total
1,763,692
189,130,962
5,230,373
42,257,980
Trade payables
37,302,957
24,051,685
98,627,228
325,642
-
423,577
87,115,630
840,006,527
37,302,957
24,800,904
87,115,630
938,633,755
Accrued liabilities
Other payables
Derivative payable
Long-term loans
384,219,357
483,014
934,539,799
1,319,242,188
Total
MANAJEMEN MODAL
CAPITAL MANAGEMENT
Kelompok Usaha bertujuan mencapai struktur

modal yang optimal untuk memenuhi tujuan
usaha, diantaranya dengan mempertahankan
rasio modal yang sehat dan maksimilasi nilai
pemegang saham.
The Group aims to achieve an optimal capital

structure in pursuit of their business objectives,
which include maintaining healthy capital ratios and
maximizing shareholder value.
Beberapa instrumen utang Kelompok Usaha

memiliki rasio keuangan yang mensyaratkan rasio
leverage maksimum. Kelompok Usaha telah
memenuhi semua persyaratan modal yang
ditetapkan oleh pihak luar.
Some of the Groups debt instruments contain

covenants that impose maximum leverage ratios.
The Group have complied with all externally
imposed capital requirements.
182
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486

DAN ENTITAS ANAK
KONSOLIDASIAN
37. KEBIJAKAN DAN TUJUAN
RISIKO KEUANGAN (lanjutan)

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
MANAJEMEN

MANAJEMEN MODAL (lanjutan)
CAPITAL MANAGEMENT (continued)
Manajemen
memantau
modal
dengan
menggunakan
beberapa
ukuran
leverage
keuangan seperti rasio utang terhadap ekuitas dan
debt service ratio. Tujuan Kelompok Usaha adalah
mempertahankan rasio utang terhadap ekuitas
sebesar
maksimum
2,33
pada
tanggal
31 Desember 2012.
Management monitors capital using several

financial leverage measurements such as debt to
equity ratio and debt service ratio. The Groups
objectives are to maintain their debt to equity ratio
at a maximum of 2.33 as of December 31, 2012.
Pada tanggal 31 Desember 2012, akun-akun

Kelompok Usaha yang membentuk rasio utang
terhadap ekuitas adalah sebagai berikut:
As of December 31, 2012, the Groups debt to

equity ratio account is as follows:
Pinjaman jangka panjang jatuh tempo dalam

satu tahun
Pinjaman jangka panjang setelah dikurangi bagian
jatuh tempo dalam waktu satu tahun
31 Des. 2012/Dec. 31, 2012

98,627,228
Current portion of long term loans
840,006,527
Long term loans - net of current maturities
938,633,755
2,354,791,978
0.40
Total
Total equity
Debt to equity ratio
_________
Total
Total ekuitas
Rasio utang terhadap ekuitas
38. INSTRUMEN KEUANGAN
38. FINANCIAL INSTRUMENTS
Aset keuangan Kelompok Usaha meliputi kas dan

setara kas dan setara kas, kas yang dibatasi
penggunaannya, investasi jangka pendek, piutang
usaha - neto dan piutang lain-lain - neto yang
timbul dari kegiatan usahanya. Liabilitas keuangan
Perusahaan dan entitas anak meliputi utang usaha,
liabilitas yang masih harus dibayar, utang lain-lain,
utang derivatif, pinjaman jangka panjang jatuh
tempo dalam waktu satu tahun dan pinjaman
jangka panjang setelah dikurangi bagian jatuh
tempo dalam waktu satu tahun yang tujuan
utamanya untuk pembiayaan kegiatan usaha.
The Groups financial assets include cash and cash

equivalents,
restricted
cash,
short-term
investments, trade receivables - net and other
receivables - net which arise from their business
operations. Their financial liabilities include trade
payables, accrued liabilities, other payables,
derivative payable, current maturities of long-term
loans and long-term loans - net of current
maturities which main purpose is to finance the
business operations.
Tabel di bawah ini mengikhtisarkan nilai tercatat

dan estimasi nilai wajar instrumen keuangan
Kelompok Usaha yang dinyatakan dalam laporan
posisi keuangan konsolidasian pada tanggal
1 Januari 2011/31 Desember 2010:
The following table sets forth the carrying values

and their estimated fair values of the Groups
financial instruments that are carried in the
consolidated statements of financial position as of
January 1, 2011/December 31, 2010:
183
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487


DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
38. INSTRUMEN KEUANGAN (lanjutan)
38. FINANCIAL INSTRUMENTS (continued)

31 Des. 2012/
Dec. 31, 2012
Nilai tercatat/
Carrying amount
Nilai wajar/
Fair value
Aset keuangan
Kas dan setara kas
1,567,458,346
8,478,599
108,286,034
258,652,097
5,068,328
1,567,458,346
8,478,599
108,286,034
258,652,097
5,068,328
Total
1,947,943,404
1,947,943,404
189,130,962
189,130,962
42,257,980
37,302,957
24,800,904
87,115,630
42,257,980
37,302,957
24,800,904
87,115,630
Accrued liabilities
Other payables
Derivative payable
98,627,228
98,627,228
long-term loans
840,006,527
840,006,527

current maturities
1,319,242,188
1,319,242,188
Liabilitas keuangan
Utang usaha
harus dibayar
Utang lain-lain
Utang derivatif
jatuh tempo dalam
waktu satu tahun
jatuh tempo dalam
waktu satu tahun
Total
Financial assets
Restricted cash
Total
Trade payables
Total
31 Des. 2011/
Dec. 31, 2011
(Disajikan Kembali - Catatan 2r/
Nilai tercatat/
Carrying amount
Nilai wajar/
Fair value
Aset keuangan
Kas dan setara kas
1,141,361,864
3,624,251
27,276,060
219,462,759
5,896,009
1,141,361,864
3,624,251
27,276,060
219,462,759
5,896,009
Total
1,397,620,943
1,397,620,943
61,149,611
61,149,611
38,229,660
34,038,617
20,785,064
178,315,793
38,229,660
34,038,617
20,785,064
178,315,793
Accrued liabilities
Other payables
Derivative payable
98,257,111
98,257,111
long-term loans
993,976,073
993,976,073

current maturities
1,424,751,929
1,424,751,929
Liabilitas keuangan
Utang usaha
harus dibayar
Utang lain-lain
Utang derivatif
jatuh tempo dalam
waktu satu tahun
jatuh tempo dalam
waktu satu tahun
Total
184
Annual Report 2012
Financial assets
Restricted cash
Total
Trade payables
Total
488

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
(Disajikan Kembali - Catatan 2r/
Nilai tercatat/
Carrying amount
Nilai wajar/
Fair value
Aset keuangan
Kas dan setara kas
1,230,741,263
707,189
210,387,486
6,150,616
1,230,741,263
707,189
210,387,486
6,150,616
Total
1,447,986,554
1,447,986,554
Liabilitas keuangan
Utang usaha
harus dibayar
Utang lain-lain
Utang derivatif
jatuh tempo dalam
waktu satu tahun
jatuh tempo dalam
waktu satu tahun
Total
Financial assets
Restricted cash
Total
Trade payables
71,626,169
71,626,169
49,131,949
28,989,388
25,011,543
188,620,017
49,131,949
28,989,388
25,011,543
188,620,017
Accrued liabilities
Other payables
Derivative payable
227,470,654
227,470,654
long-term loans
1,194,849,188
1,194,849,188

current maturities
1,785,698,908
1,785,698,908
Total
Nilai wajar aset dan liabilitas keuangan disajikan

dalam jumlah di mana instrumen tersebut dapat
dipertukarkan dalam transaksi kini antara pihakpihak yang berkeinginan (willing parties), bukan
dalam penjualan akibat kesulitan keuangan atau
likuidasi yang dipaksakan.
The fair values of the financial assets and liabilities

are presented at the amounts which instrument
could be exchanged in a current transaction
between willing parties, not in a forced sale or
liquidation.
Metode dan asumsi berikut ini digunakan untuk

mengestimasi nilai wajar untuk setiap kelompok
instrumen
keuangan
yang
praktis
untuk
memperkirakan nilai tersebut:
The following methods and assumptions were

used to estimate the fair value of each class of
financial instrument for which it is practicable to
estimate such value:
1. Kas dan setara kas, kas yang dibatasi

penggunaannya, piutang usaha - neto dan
piutang lain-lain - neto.
1. Cash and cash equivalents, restricted cash,

trade receivables - net and other receivables net.
Seluruh aset keuangan di atas merupakan aset

keuangan jangka pendek yang akan jatuh
tempo dalam waktu 12 bulan sehingga nilai
tercatat aset keuangan tersebut telah
mencerminkan nilai wajar dari aset keuangan
tersebut.
All of the above financial assets are due within

12 months, thus the carrying value of the
financial assets approximate their fair values of
the financial assets.
2. Short-term investments.
2. Investasi jangka pendek
The above financial assets are measured at

published quoted market price in active market.
Aset keuangan di atas diukur pada harga

kuotasian yang dipublikasikan dalam pasar
aktif.
185
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489

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
3. Utang usaha, utang lain-lain, liabilitas yang

masih harus dibayar dan liabilitas imbalan
kerja jangka pendek.
3. Trade payables, other payables, accrued

liabilities and short-term employees benefits
liability.
Seluruh liabilitas keuangan di atas merupakan

liabilitas jangka pendek yang akan jatuh tempo
dalam waktu 12 bulan sehingga nilai tercatat
liabilitas
keuangan
tersebut
telah
mencerminkan nilai wajar.
All of the above financial liabilities are due

within 12 months, thus the carrying value of the
financial liabilities approximate their fair value.
4. Pinjaman jangka panjang jatuh tempo dalam

waktu satu tahun dan pinjaman jangka panjang
setelah dikurangi bagian jatuh tempo dalam
waktu satu tahun.
4. Current maturities of long-term loans and long

term loans - net of current maturities.
Seluruh liabilitas keuangan di atas merupakan

pinjaman yang memiliki suku bunga variabel
dan
tetap
yang
disesuaikan
dengan
pergerakan suku bunga pasar sehingga nilai
tercatat kewajiban keuangan tersebut telah
mendekati nilai wajar.
All of the above financial liabilities are liabilities

with floating and fixed interest rates which are
adjusted in the movements of market interest
rates, thus the carrying values of the financial
liabilities approximate their fair values.
5. Derivative payable
5. Utang derivatif
Fair value of this financial liability is estimated

using appropriate valuation techniques with
market observable inputs.
Nilai wajar dari kewajiban keuangan ini

diestimasi dengan menggunakan teknik
penilaian yang wajar dengan nilai input pasar
yang dapat diobservasi.
Hirarki Nilai Wajar
Fair Value Hierarchy
Aset dan liabilitas keuangan diklasifikasikan

secara keseluruhan berdasarkan tingkat terendah
dari masukan (input) yang signifikan terhadap
pengukuran nilai wajar. Penilaian dampak
signifikan dari suatu input tertentu terhadap
pengukuran
nilai
wajar
membutuhkan
pertimbangan dan dapat mempengaruhi penilaian
dari aset dan liabilitas yang diukur dan
penempatannya dalam hirarki nilai wajar.
Financial assets and liabilities are classified in their

entirety based on the lowest level of input that is
significant to the fair value measurements. The
assessment of the significance of a particular input
to the fair value measurements requires judgment,
and may affect the valuation of the assets and
liabilities being measured and their placement
within the fair value hierarchy.
Bukti terbaik dari nilai wajar adalah harga yang

dikuotasikan (quoted prices) dalam sebuah pasar
yang aktif. Jika pasar untuk sebuah instrumen
keuangan tidak aktif, entitas menetapkan nilai
wajar dengan menggunakan metode penilaian.
Tujuan dari penggunaan metode penilaian adalah
untuk menetapkan harga transaksi yang terbentuk
pada tanggal pengukuran dalam sebuah transaksi
pertukaran yang wajar dengan pertimbangan
bisnis normal.
The best evidence of fair value is quoted prices in

an active market. If the market for a financial
instrument is not active, an entity establishes fair
value by using a valuation technique. The objective
of using a valuation technique is to establish what
the transaction price would have been on the
measurement date in an arm's length exchange
motivated by normal business considerations.
186
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DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
Hirarki Nilai Wajar (lanjutan)
Fair Value Hierarchy (continued)
Metode penilaian termasuk penggunaan harga

dalam transaksi pasar yang wajar (arms length)
terakhir antara pihak-pihak yang memahami dan
berkeinginan, jika tersedia, referensi kepada nilai
wajar terkini dari instrumen lain yang secara
substansial sama, analisa arus kas yang
didiskontokan dan model harga opsi (option
pricing models). Jika terdapat metode penilaian
yang biasa digunakan oleh para peserta pasar
untuk menentukan harga dari instrumen dan
metode tersebut telah didemonstrasikan untuk
menyediakan estimasi yang andal atas harga yang
diperoleh dari transaksi pasar yang aktual, entitas
harus menggunakan metode tersebut. Metode
penilaian yang dipilih membuat penggunaan
maksimum dari input pasar dan bergantung sedikit
mungkin atas input yang spesifik untuk entitas
(entity-specific
input).
Metode
tersebut
memperhitungkan semua faktor yang akan
dipertimbangkan oleh peserta pasar dalam
menentukan sebuah harga dan selaras dengan
metode ekonomis untuk penilaian sebuah
instrumen keuangan. Secara berkala, Perusahaan
menelaah metode penilaian dan mengujinya untuk
validitas dengan menggunakan harga dari
transaksi pasar terkini yang dapat diobservasi
untuk instrumen yang sama (yaitu tanpa modifikasi
dan pengemasan kembali) atau berdasarkan data
pasar yang tersedia dan dapat diobservasi.
Valuation techniques include using recent arm's

length
market
transactions
between
knowledgeable, willing parties, if available,
reference to the current fair value of another
instrument that is substantially the same,
discounted cash flow analysis and option pricing
models. If there is a valuation technique commonly
used by market participants to price the instrument
and that technique has been demonstrated to
provide reliable estimates of prices obtained in
actual market transactions, the entity uses that
technique. The chosen valuation technique makes
maximum use of market inputs and relies as little
as possible on entity-specific inputs. It incorporates
all factors that market participants would consider
in setting a price and is consistent with accepted
economic methodologies for pricing financial
instruments. Periodically, the Company calibrates
the valuation technique and tests it for validity
using prices from any observable current market
transactions in the same instrument (i.e., without
modification or repackaging) or based on any
available observable market data.
Hirarki nilai wajar Perusahaan pada tanggal

31 Desember 2012 dan 31 Desember 2011 dan
1 Januari 2011/ 31 Desember 2010 adalah
sebagai berikut:
The Companys fair values hierarchy as of

December 31, 2012 and December 31, 2011 and
January 1, 2011/December 31, 2010 is as follows:
Total/
Total
Aset keuangan lancar
Total
108,286,034
108,286,034
Liabilitas keuangan
jangka panjang
Utang derivatif
87,115,630
Total
87,115,630
31 Des. 2012/Dec. 31, 2012
Harga pasar
yang dikuotasikan
untuk aset dan
liabilitas yang sama
(Level 1)/
Quoted prices in
active markets for
identical assets
or liabilities
(Level 1)
Input yang
signifikan dan
dapat diobservasi
secara langsung
maupun tidak
langsung
(Level 2)/
Significant and
observable
inputs,
direct or
indirectly
(Level 2)
Input yang
signifikan
tetapi tidak
dapat
diobservasi
(Level 3)/
Significant
unobservable
inputs
(Level 3)
-
Current financial asset

108,286,034
Total
87,115,630
Non-current
financial liability
Derivative payable
87,115,630
Total
108,286,034
187
Annual Report 2012
491

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
Hirarki Nilai Wajar (lanjutan)
Fair Value Hierarchy (continued)

31 Des. 2011/Dec. 31, 2011
Total/
Total
Aset keuangan lancar
Input yang
signifikan dan
dapat diobservasi
secara langsung
maupun tidak
langsung
(Level 2)/
Significant and
observable
inputs,
direct or
indirectly
(Level 2)
Harga pasar
yang dikuotasikan
untuk aset dan
(Level 1)/
Quoted prices in
active markets for
identical assets
or liabilities
(Level 1)
Input yang
signifikan
tetapi tidak
dapat
diobservasi
(Level 3)/
Significant
unobservable
inputs
(Level 3)
27,276,060
Current financial asset

27,276,060
27,276,060
Total
Liabilitas keuangan
jangka panjang
Utang derivatif
178,315,793
178,315,793
Non-current
financial liability
Derivative payable
Total
178,315,793
178,315,793
Total
Total
27,276,060
1 Jan. 2011/31 Des. 2010/ Jan. 1, 2011/Dec. 31, 2010

Total/
Total
Harga pasar
yang dikuotasikan
untuk aset dan
(Level 1)/
Quoted prices in
active markets for
identical assets
or liabilities
(Level 1)
Input yang
signifikan dan
dapat diobservasi
secara langsung
maupun tidak
langsung
(Level 2)/
Significant and
observable
inputs,
direct or
indirectly
(Level 2)
Input yang
signifikan
tetapi tidak
dapat
diobservasi
(Level 3)/
Significant
unobservable
inputs
(Level 3)
Liabilitas keuangan
jangka panjang
Utang derivatif
188,620,017
188,620,017
Non-current
financial liability
Derivative payable
Total
188,620,017
188,620,017
Total
For the years ended December 31, 2012, 2011

and 2010, there were no transfers between Level 1
and Level 2 fair value measurements.
Untuk tahun yang berakhir pada tanggal-tanggal

31 Desember 2012, 2011 dan 2010, tidak
terdapat pengalihan antara pengukuran nilai
wajar Level 1 dan Level 2.
188
Annual Report 2012
492

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
39. ASET DAN LIABILITAS DALAM MATA UANG

ASING
39. ASSETS AND LIABILITIES DENOMINATED IN

FOREIGN CURRENCIES
Pada tanggal 31 Desember 2012 dan

31 Desember 2011 dan 1 Januari 2011/31
Desember 2010, aset dan liabilitas moneter
Kelompok Usaha dalam mata uang asing adalah
sebagai berikut:
As of December 31, 2012 and December 31, 2011

Groups monetary assets and liabilities denominated
in foreign currencies are as follows:
31 Des. 2012/
Dec. 31, 2012
Aset
Dalam Rupiah
Kas dan setara kas
Kas yang dibatasi
penggunaannya
Piutang usaha
Uang muka
Sub-total
Dalam Yen Jepang
Kas dan setara kas
Sub-total
Dalam Dolar Singapura
Kas dan setara kas
Piutang usaha
Sub-total
Total Aset
Ekuivalen Dolar Amerika Serikat
Rp
Rp
31 Des. 2011/
Dec. 31, 2011
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
4,369,967,321,548
3,088,394,624,733
4,001,393,052,146
78,857,400,623
145,000,000,000
585,564,239,100
35,193,279,395
7,933,959,546
-
9,707,597,638
95,000,000,000
592,231,225,088
49,909,539,049
274,562,641,213
1,418,981,452
3,209,827,137
629,925,373,101
44,530,793,708
260,194,968,669
16,451,818,392
5,222,516,200,212
4,111,224,609,173
4,955,705,833,153
Assets
In Rupiah
Restricted cash
Trade receivables
Advances
Prepaid taxes
Sub-total
In Japanese Yen
JPY
1,260,017,469
761,451,076
221,020,040
JPY
1,260,017,469
761,451,076
221,020,040
SG$
212,728
5,527
31,206
23,027
16,250
2,500
5,527
SG$
218,255
54,233
24,277
Rp
JPY
SG$
5,222,516,200,212
1,260,017,469
218,255
4,111,224,609,173
761,451,076
54,233
4,955,705,833,153
221,020,040
24,277
Total Assets
554,843,252
463,227,657
553,915,223
US Dollar equivalents
189
Annual Report 2012
Sub-total
In Singapore Dollar
Trade receivables
Sub-total
493

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
39. ASET DAN LIABILITAS DALAM MATA UANG

ASING (lanjutan)
Sub-total
Dalam Yen Jepang
Utang lain-lain
harus dibayar
jatuh tempo dalam
waktu satu tahun
1 Jan. 2011/
31 Des. 2010/
Jan. 1, 2011/
Dec. 31, 2010
31 Des. 2011/
Dec. 31, 2011
31 Des. 2012/
Dec. 31, 2012
Liabilitas
Dalam Rupiah
Utang Usaha
Utang lain-lain
harus dibayar
jangka pendek
Utang pajak
39. ASSETS AND LIABILITIES DENOMINATED IN

FOREIGN CURRENCIES (continued)
Liabilities
In Rupiah
Trade payables
Other payables
64,704,101
117,917,803,502
62,514,379,908
80,407,866,757
202,326,215,941
158,313,272,844
127,226,129,655
360,719,592,179
145,874,632,445
308,662,176,592
189,423,422,291
260,643,583,041
313,102,564,453
Accrued liabilities
Taxes payable
Rp
826,902,948,168
718,913,251,635
781,380,143,906
Sub-total
JPY
9,453,731
586,633,897
340,044,754
879,637,988
Accrued liabilities
48,538,362,136
48,319,782,127
47,156,097,513
Long-term loans net of current maturities
In Japanese Yen
Other payables
Sub-total
JPY
49,124,996,033
48,659,826,881
48,045,189,232
Sub-total
Total Liabilitas
Rp
JPY
826,902,948,168
49,124,996,033
718,913,251,635
48,659,826,881
781,380,143,906
48,045,189,232
Total Liabilities
654,351,892
706,097,542
676,273,817
US Dollar equivalents
99,508,640
242,869,885
122,358,594
Total Liabilities - Net
Ekuivalen Dolar Amerika Serikat

Total Liabilitas - Neto
Sebagian besar pembelian gas dalam mata uang

Dolar Amerika Serikat juga dijual dalam Dolar
Amerika Serikat, sehingga lindung nilai atas risiko
nilai tukar mata uang asing terjadi secara alami.
Saat ini, liabilitas yang timbul dari pembiayaan
dalam mata uang asing tidak dilindung nilai.
Most purchases of gas in US Dollar are also sold in

US Dollar, thus naturally hedging the related foreign
currency
exposures.
Currently,
liabilities
denominated in foreign currency arising from
financing activities are not hedged.
Pada tanggal 18 Februari 2013, kurs tengah yang

dikeluarkan oleh Bank Indonesia adalah Rp9.680
untuk US$1, SG$1,24 untuk US$1 dan JPY94,14
untuk US$1. Apabila kurs tersebut digunakan pada
tanggal 31 Desember 2012, maka liabilitas
konsolidasi
neto
akan
turun
sebesar
US$45.332.289.
As of February 18, 2013, the rates of exchange

published by Bank Indonesia was Rp9,680 to US$1,
SG$1.24 to US$1 and JPY94.14 to US$1. If such
exchange rates had been used as of December 31,
2012, the net consolidated liabilities will increase by
US$45,332,289.
190
Annual Report 2012
494

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
40. INFORMASI SEGMEN USAHA
40. SEGMENT INFORMATION
Untuk kepentingan manajemen, Kelompok Usaha

digolongkan menjadi unit usaha berdasarkan
produk dan jasa dan memiliki tiga segmen operasi
yang dilaporkan sebagai berikut:
For management purposes, the Group is organized

into business units based on their products and
services and has three reportable operating
segments as follows:
1.
1. Gas distribution segment
Segmen distribusi gas
Gas distribution segment is mainly involved in

gas distribution purchased from gas suppliers
and then supplies to the industrial, commercial
and household customers.
Segmen distribusi gas melakukan kegiatan

usaha
utama
Perusahaan
dalam
mendistribusikan gas yang dibeli dari supplier
gas dan menyalurkannya kepada pelanggan
industri, komersial dan rumah tangga.
2.
2. Gas transmission segment
Segmen transmisi gas
Gas transmission segment mainly involved in

gas transmission for customers.
Segmen transmisi gas melakukan kegiatan

usaha dalam menyalurkan gas untuk
pelanggan industri.
3.
3. Other operations segment
Segmen operasi lainnya

Segmen operasional lainnya terkait dengan
jasa sewa fiber optik untuk penyediaan
jaringan dan jasa konstruksi dan perbaikan
kepada pelanggan.
Other operations segment provides fiber optic

rental for network services and constructions
and maintenance services to the customers.
Manajemen memantau hasil operasi dari unit

usahanya secara terpisah guna keperluan
pengambilan keputusan mengenai alokasi sumber
daya dan penilaian kinerja. Kinerja segmen
dievaluasi berdasarkan laba segmen dan diukur
secara konsisten dengan laba atau rugi operasi
pada laporan keuangan konsolidasian.
Management monitors the operating results of its

business units separately for the purpose of
making decisions about resource allocation and
performance assessment. Segment performance is
evaluated based on segment income and is
measured consistently with operating profit or loss
in the consolidated financial statements.
Tabel berikut menyajikan informasi pendapatan

dan laba dan aset dan liabilitas tertentu
sehubungan dengan segmen operasi Kelompok
Usaha:
The following table represents revenue and profit,

and certain asset and liability information regarding
the Groups operating segments:
191
Annual Report 2012
495

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
40. INFORMASI SEGMEN USAHA (lanjutan)
40. SEGMENT INFORMATION (continued)

31 Des. 2012/Dec. 31, 2012
Distribusi/
Distribution
Transmisi/
Transmission
Operasi Lainnya/
Other Operations
Konsolidasian/
Consolidation
PENDAPATAN NETO
Pendapatan
Eliminasi Pendapatan
2,384,161,652
(17,956,492)
215,620,970
(15,621,570)
33,249,987
(22,961,510)
2,633,032,609
(56,539,572)
Total Pendapatan Neto
2,366,205,160
199,999,400
10,288,477
2,576,493,037
1,137,679,795
(33,578,062)
43,792,191
40,790,179
11,497,871
22,453,147
139,722,686
10,337,389
5,442,504
3,821,677
447,349
1,137,679,795
(33,578,062)
71,687,842
184,334,542
22,282,609
(2,189,944)
41,347,926
(9,219,527)
(542,046)
41,041,376
(2,710,838)
27,405,313
-
(2,731,990)
109,794,615
(11,930,365)
Beban segmen
Beban pokok
Eliminasi beban pokok
Penyusutan
Eliminasi biaya perbaikan
dan pemeliharaan
Beban lain-lain
Eliminasi beban lain-lain
NET REVENUES
Revenues
Revenues elimination
Total Net Revenues
Segment expenses
Cost of revenues
Cost of revenues elimination
Salaries and employees' benefits
Depreciation
expenses elimination
Other expenses
Other expenses elimination
Total Beban Segmen
1,230,120,429
210,301,714
37,116,843
1,477,538,986
Total Segment Expenses
HASIL
Laba segmen
1,136,084,731
(10,302,314)
(26,828,366)
1,098,954,051
RESULTS
Segment income
Beban Perusahaan dan Entitas Anak

yang tidak dapat dialokasikan
Eliminasi biaya
Beban lain-lain
(104,460,711)
3,613,261
21,415,500
(1,038,741)
Laba Operasi
1,018,483,360
Laba perubahan nilai wajar

derivatif - neto
Laba kurs - neto
Pendapatan keuangan
Bagian laba dari entitas asosiasi
Beban keuangan
65,101,054
49,757,553
27,824,136
8,718,596
(21,576,672)
Laba Sebelum Beban Pajak
Unallocated expenses of
the Company and Subsidiaries
Expenses elimination
Other income
Other expenses
Operating Profit
Gain on change in fair value of
derivative - net
Gain on foreign exchange - net
Finance income
Share in profit of the associates
Finance cost
1,148,308,027
Profit Before Tax Expense
Manfaat (beban) Pajak

Kini
Tangguhan
(238,367,358)
5,315,581
Tax benefit (expense)

Current
Deferred
Beban Pajak - Neto
(233,051,777)
Tax Expense - Net
915,256,250
PROFIT FOR THE YEAR
LABA TAHUN BERJALAN
192
Annual Report 2012
496

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

31 Des. 2012/Dec. 31, 2012
Distribusi/
Distribution
Transmisi/
Transmission
Operasi Lainnya/
Other Operations
Konsolidasian/
Consolidation
Aset keuangan tersedia

untuk dijual
Kerugian aktuaria
laporan keuangan dalam Entitas
Anak - neto
(1,724,744)
Available-for-sale
financial assets
Actuarial losses
translation of the
financial statements of
Subsidiaries - net
Sub-total
(2,663,959)
Sub-total
7,794,787
(8,734,002)
1,906,393
Income tax effect

LAIN SETELAH PAJAK
(757,566)

INCOME AFTER TAX

TAHUN BERJALAN
914,498,684
TOTAL COMPREHENSIVE
INCOME FOR THE YEAR

DAPAT DIATRIBUSIKAN
KEPADA:
890,885,456
24,370,794
PROFIT
FOR THE YEAR
ATTRIBUTABLE TO:
Total
915,256,250
Total
TOTAL PENDAPATAN KOMPREHENSIF TAHUN BERJALAN

889,696,452
24,802,232

FOR THE YEAR ATRIBUTABLE TO:
Total
914,498,684
Total
1,816,859,472
SEGMENT ASSETS
Segment Assets
2,091,302,847
Unallocated assets of the Company

and Subsidiaries
3,908,162,319
Total Consolidated Assets
68,475,617
SEGMENT LIABILITIES
Segment Liabilities
1,484,894,724
Unallocated liabilities of the Company

and Subsidiaries
1,553,370,341
Total Consolidated Liabilities
ASET SEGMEN
Aset Segmen
Aset Perusahaan dan
Entitas Anak yang tidak dapat
dialokasikan
508,378,690
1,239,992,630
68,488,152
Total Aset yang Dikonsolidasikan

LIABILITAS SEGMEN
Liabilitas Segmen
Liabilitas Perusahaan dan
dialokasikan
35,649,329
26,156,830
6,669,458
Total Liabilitas yang Dikonsolidasikan

INFORMASI LAINNYA
OTHER INFORMATION
Pengeluaran Modal
52,478,036
36,162,875
50,958,970
139,599,881
Capital Expenditures
Penyusutan
Penyusutan Perusahaan dan
Entitas Anak yang tidak
dapat dialokasikan
40,790,179
139,722,686
3,821,677
184,334,542
5,070,213
Depreciation
Unallocated depreciation of
the Company
and Subsidiaries
189,404,755
Total Consolidated Depreciation
Total Penyusutan yang Dikonsolidasikan
193
Annual Report 2012
497

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

31 Des. 2011/Dec. 31, 2011
Distribusi/
Distribution
Transmisi/
Transmission
Operasi Lainnya/
Other Operations
Konsolidasian/
Consolidation
PENDAPATAN NETO
Pendapatan
Eliminasi Pendapatan
2,045,902,062
-
191,782,136
(16,871,384)
20,001,142
(10,416,880)
2,257,685,340
(27,288,264)
Total Pendapatan Neto
2,045,902,062
174,910,752
9,584,262
2,230,397,076
23,950,888
148,365,801
10,516,288
2,660,117
2,249,211
145,695
905,346,628
(16,878,785)
71,751,806
183,958,316
20,508,214
14,216,102
-
(4,228,796)
91,327,211
(5,064,054)
Beban segmen
Beban pokok
Eliminasi beban pokok
Penyusutan
Eliminasi biaya perbaikan
dan pemeliharaan
Beban lain-lain
Eliminasi beban lain-lain
905,346,628
(16,878,785)
45,140,801
33,343,304
9,846,231
(2,585,879)
35,721,702
(4,531,360)
(1,642,917)
41,389,407
(532,694)
Total Beban Segmen
1,005,402,642
222,046,773
19,271,125
HASIL
Laba segmen
1,040,499,420
(47,136,021)
(9,686,863)
Beban Perusahaan dan Entitas Anak

yang tidak dapat dialokasikan
Eliminasi biaya
Beban lain-lain
Segment expenses
Cost of revenues
Cost of revenues elimination
Salaries and employees' benefits
Depreciation
expenses elimination
Other expenses
Other expenses elimination
Total Segment Expenses
983,676,536
RESULTS
Segment income
Unallocated expenses of
the Company and Subsidiaries
Expenses elimination
Other income
Other expenses
898,156,663
Operating Profit
35,107,116
Finance income
derivative - net
Share in loss of the associate
Finance cost
Pendapatan keuangan
derivatif - neto
Bagian rugi dari entitas asosiasi
Rugi kurs - neto
Beban keuangan
(1,308,732)
(6,022,062)
(26,249,402)
(27,709,566)
Laba Sebelum Manfaat (Beban) Pajak
871,974,017
Manfaat (Beban) Pajak

Kini
Tangguhan
(177,981,985)
7,908,487
Beban Pajak - Neto
(170,073,498)
LABA TAHUN BERJALAN
Total Net Revenues
1,246,720,540
(100,501,398)
269,678
20,878,662
(6,166,815 )
Laba Operasi
NET REVENUES
Revenues
Revenues elimination
701,900,519
Profit Before Tax Benefit (Expense)

Tax Benefit (Expense)
Current
Deferred
Tax Expense - Net
PROFIT FOR THE YEAR
Aset keuangan tersedia

untuk dijual
laporan keuangan dalam Entitas
Anak - neto
1,119,417
(562,756)
Sub-total
Available-for-sale
financial assets
556,661
Sub-total
Income tax effect
556,661

INCOME AFTER TAX
702,457,180
TOTAL COMPREHENSIVE
INCOME FOR THE YEAR

DAPAT DIATRIBUSIKAN
KEPADA:
680,804,733
21,095,786
PROFIT
FOR THE YEAR
ATTRIBUTABLE TO:
Total

LAIN SETELAH PAJAK
TAHUN BERJALAN
701,900,519
Total
TOTAL LABA KOMPREHENSIF TAHUN BERJALAN

681,357,195
21,099,985

FOR THE YEAR ATTRIBUTABLE TO:
Total
702,457,180
Total
194
Annual Report 2012
498

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

31 Des. 2011/Dec. 31, 2011
ASET SEGMEN
Aset Segmen
Aset Perusahaan dan
dialokasikan
425,149,556
1,362,795,984
23,685,803

LIABILITAS SEGMEN
Liabilitas Segmen
dialokasikan
23,434,437
27,124,519
1,811,631,343
SEGMENT ASSETS
Segment Assets
1,588,545,662

and Subsidiaries
3,400,177,005
52,680,504
SEGMENT LIABILITIES
Segment Liabilities
1,468,139,232

and Subsidiaries
1,520,819,736
2,121,548

INFORMASI LAINNYA
OTHER INFORMATION
Pengeluaran Modal
31,622,654
23,050,844
47,810,167
102,483,665
Penyusutan
dapat dialokasikan
33,343,304
148,365,801
2,249,211
183,958,316
8,869,490
Depreciation
the Company
and Subsidiaries
192,827,806
1 Jan. 2011/31 Des. 2010/Jan. 1, 2011/Dec. 31, 2010

Distribusi/
Distribution
Transmisi/
Transmission
Operasi Lainnya/
Other Operations
Konsolidasian/
Consolidation
ASET SEGMEN
Aset Segmen
Aset Perusahaan dan
dialokasikan
SEGMENT ASSETS
438,525,955
1,479,035,137
14,257,104

LIABILITAS SEGMEN
Liabilitas Segmen
dialokasikan
21,008,644
27,169,099
1,931,818,196
Segment Assets
1,608,339,203

and Subsidiaries
3,540,157,399
50,917,335
SEGMENT LIABILITIES
Segment Liabilities
2,739,592
1,838,224,636

and Subsidiaries
1,889,141,971
INFORMASI LAINNYA
OTHER INFORMATION
Pengeluaran Modal
22,042,632
87,072,793
57,919,766
167,035,191
Penyusutan
dapat dialokasikan
27,630,256
147,591,012
1,897,708
177,118,976
5,336,957
Depreciation
the Company
and Subsidiaries
182,455,933
195
Annual Report 2012
499

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012

Consolidated information
segment is as follows:
Informasi konsolidasi menurut segmen usaha

based
on
business
31 Des. 2012/Dec. 31, 2012
Uraian
Kantor pusat
SBU Distribusi Wilayah I.
Jawa Bagian Barat
SBU Distribusi Wilayah II.
Jawa Bagian Timur
SBU Distribusi Wilayah III.
Sumatera Bagian Utara
SBU Transmisi Sumatera Jawa
Transgasindo
PGASKOM
PGASSOL
SEI
GEI
PLI
Total
Pendapatan Neto/
Net Revenues
Nilai Tercatat
Aset Segmen/
Carrying Value of
Segment Assets
Penambahan
Aset Tetap/
Additions to
Fixed Assets
Descriptions
44,361,777
1,671,784,908
354,703,797
34,384,969
438,133,928
82,572,368
9,439,127
234,151,707
22,291,328
176,092,569
9,803,747
484,731
23,750,119
-
47,143,689
733,587,651
503,106,610
14,266,217
11,322,583
4,236,174
27,257,205
38,663,178
8,560,512
9,914,704
26,248,171
3,186,714
3,313,323
53,391
93,428
43,765
Head office
SBU Distribution I.
West Java
SBU Distribution II.
East Java
SBU Distribution III.
North Sumatera
SBU Transmission Sumatera Jawa
Transgasindo
PGASKOM
PGASSOL
SEI
GEI
PLI
2,576,493,037
1,816,859,472
139,599,881
Total
31 Des. 2011/Dec. 31, 2011

Uraian
Kantor pusat
SBU Distribusi Wilayah I.
Jawa Bagian Barat
SBU Distribusi Wilayah II.
Jawa Bagian Timur
SBU Distribusi Wilayah III.
Sumatera Bagian Utara
SBU Transmisi Sumatera Jawa
Transgasindo
PGASKOM
PGASSOL
SEI
GEI
Total
Pendapatan Neto/
Net Revenues
Nilai Tercatat
Aset Segmen/
Carrying Value of
Segment Assets
Penambahan
Aset Tetap/
Additions to
Fixed Assets
Descriptions
39,407,895
1,430,992,655
308,739,766
21,101,986
385,711,416
71,345,520
6,242,546
232,296,039
1,816,936
169,995,768
9,376,102
208,160
-
47,593,579
806,701,535
553,565,140
10,619,728
5,172,596
4,239,238
3,654,241
4,278,122
9,050,332
14,000,513
7,092,382
1,247,606
62,283
-
Head office
SBU Distribution I.
West Java
SBU Distribution II.
East Java
SBU Distribution III.
North Sumatera
SBU Transmission Sumatera Jawa
Transgasindo
PGASKOM
PGASSOL
SEI
GEI
2,230,397,076
1,811,631,343
102,483,665
Total
196
Annual Report 2012
500

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
41. PERISTIWA SETELAH PERIODE PELAPORAN
41. EVENTS AFTER THE REPORTING PERIOD
Perusahaan
The Company
1. Tahap penyelesaian proyek SSWJ, PDJB dan

FSRF LNG adalah sebagai berikut:
a. Proyek
Jaringan
Pipa
Transmisi
Sumatera Selatan - Jawa Barat (SSWJ)
1. The percentage of completion of SSWJ, PDJB

and FSRF LNG projects are as follows:
a. Transmission Pipelines South Sumatera
- West Java (SSWJ) Project

persentase penyelesaian proyek jaringan
pipa transmisi dengan aspek penyelesaian
fisik*) sebagai berikut:
Jalur Cilegon - Serpong : 87,94% (tidak
diaudit);
terkait jalur Cilegon - Serpong: 75,50%.
Up to February 18, 2013, the percentage of

physical completion*) of the pipeline
transmission project consists of:
Cilegon - Serpong pipeline: 87.94%

(unaudited);
Project
Management
Consultancy
(PMC) related to Cilegon - Serpong
pipeline: 75.50%.

jumlah estimasi biaya proyek Cilegon Serpong
adalah sebesar US$111.390
(tidak diaudit).
Up to February 18, 2013, total estimated

cost of Cilegon - Serpong projects
amounting to US$111,390 (unaudited).
Sampai dengan 31 Desember 2012, jumlah

realisasi biaya proyek Cilegon Serpong
adalah US$84.014. Dengan demikian,
persentase penyelesaian proyek Cilegon Serpong dibandingkan dengan jumlah
estimasi biaya proyek adalah sebesar 75%
(tidak diaudit).
Up to December 31, 2012, the realization of

project costs for Cilegon - Serpong is
US$84,014. Therefore, the percentage of
project completion for Cilegon - Serpong
compared to total estimated project costs is
75% (unaudited).
b. Proyek Distribusi Jawa Barat (PDJB)
b. West Java Distribution Project (PDJB)

persentase penyelesaian PDJB dengan
aspek penyelesaian fisik*), adalah sebagai
berikut:

completion*) of PDJB with physical
completion aspect, are as follows:
1. Pembiayaan dari International Bank for

Reconstruction
and
Development
(IBRD):
Paket 4 terkait dengan pembelian

mesin dan Engineering Pipeline
Construction
(EPC)
dengan
penyelesaian fisik sebesar 71%
(tidak diaudit);
Proyek Konsultan Manajemen

(PMC) terkait paket 4 dengan
penyelesaian fisik sebesar 94%
(tidak diaudit).
1. International Bank for Reconstruction

and Development (IBRD) financing:
197
Annual Report 2012
Package 4 is related to engineering

procurement
and
Engineering
Pipeline Construction (EPC) with
physical
completion
as
71%
(unaudited);
Project Management consultancy
(PMC) related to package 4 with
physical
completion
of
94%
(unaudited).
501

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
41. PERISTIWA SETELAH TAHUN PELAPORAN

(lanjutan)
41. EVENTS AFTER

(continued)
b.
Proyek Distribusi
(lanjutan)
REPORTING
YEAR

Jawa
Barat
(PDJB)
b.

(continued)
2. The Companys financing:
2. Dana Perusahaan:
a.
THE
a.
Paket 8B, paket 19 dan 23 terkait

dengan
pekerjaan
Konstruksi
Jaringan Pipa (PCC) dengan rincian
penyelesaian fisik sebesar :
- Paket 8B: 100% (tidak diaudit);
- Paket 19: 100% (tidak diaudit);
- Paket 23: 95% (tidak diaudit).
Package 8B, package 19 and 23

are related to Pipeline Construction
Contractor (PCC) with physical
completion of:
-
Package 8B: 100% (unaudited);

Package 19: 100% (unaudited);
Package 23: 95% (unaudited).
b. Proyek Konsultan Manajemen (PMC)

terkait
proyek
PCC
dengan
penyelesaian fisik sebesar
61%
(tidak diaudit).
b. Project Management Consultant

(PMC) related to PCC project with
physical
completion
of
61%
(unaudited);

jumlah estimasi biaya PDJB adalah sebesar
US$46.853.998 meliputi paket yang dibiayai
oleh IBRD sebesar US$9.677.182 dan
paket yang dibiayai oleh dana Perusahaan

cost of PDJB amounted to US$46,853,998
which consists of packages under IBRDs
financing amounting to US$9,677.182 and
the Companys financing amounting to
US$46,864,063.
Adapun jumlah realisasi biaya atas PDJB

sampai dengan 31 Desember 2012 masingmasing untuk paket yang dibiayai oleh IBRD
dan dana Perusahaan adalah sebesar
US$7.235.350 dan US$35.009.889. Dengan
demikian, persentase penyelesaian PDJB
masing-masing untuk kedua pembiayaan
paket tersebut dibandingkan dengan jumlah
estimasi biaya proyek terkait adalah
masing-masing sebesar 74% dan 76%
(tidak diaudit).
The realization costs of PDJB as of

December 31, 2012 for packages under
IBRDs and the Companys financing are
US$7,235,350
and
US$35,009,889,
Therefore, the percentage of PDJB
completion both for those packages
compared to total estimated project costs
are
74%
and
76%
(unaudited),
respectively.
198
Annual Report 2012
502

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
41. PERISTIWA SETELAH TAHUN PELAPORAN

(lanjutan)
41. EVENTS AFTER

(continued)
THE
c.
c.
Proyek Pembangunan LNG

Floating
Storage And Regasification Facilities
YEAR
LNG Floating Storage And Regasification

Facilities Project
completion*) of FSRF LNG with physical
completion aspect, are as follows:

persentase penyelesaian FSRF LNG
dengan aspek penyelesaian fisik*), adalah
sebagai berikut:
REPORTING
Pembangunan EPCIC pipeline yang

terdiri dari pipa offshore, stasiun
Penerima Onshore (ORF) dan Off-take
Station (OTS) di Labuhan Maringgai:
1,31%.
Construction of EPCIC pipeline which

consist of offshore pipeline, Onshore
Receiving Facilities (ORF) and Off-take
Station (OTS) in Labuhan Maringgai:
1.31%.
Physical completion aspect**) from the

contractor of vessel are:
Persentase penyelesaian fisik**) dari pihak

pembangun vessel adalah:
Pembangunan Floating Storage and

Regasification Unit (FSRU): 11,10%;
Constraction of Floating Storage and

Regasification Unit (FSRU): 11.10%;
Pembangunan fasilitas penambat FSRU

(mooring system): 5,10%.
Mooring system facility: 5.10%.

jumlah estimasi biaya proyek FSRF adalah
sebesar US$179.383.019 (tidak diaudit).

cost of FSRF projects amounting to
US$179,383,019 (unaudited).
Sampai dengan 31 Desember 2012, jumlah

realisasi biaya proyek FSRF adala sebesar
US$25,816,783 (tidak diaudit). Dengan
demikian, persentase penyelesaian proyek
FSRF dibandingkan dengan jumlah estimasi
biaya proyek adalah sebesar 14,40% (tidak
diaudit).
Up to December 31, 2012, the realization of

project costs for FSRF project is
US$25,816,783 (unaudited). Therefore, the
percentage of project completion for FSRF
project compared to total estimated project
costs is 14.40% (unaudited).
SEI, Entitas Anak
SEI, the Subsidiary
Pada tanggal 18 Februari 2013, PT Saka

Ketapang Perdana (SKP), Entitas Anak SEI
menerima surat persetujuan dari Dirjen Minyak
dan Gas Republik Indonesia mengenai
pengalihan 20% participating interest di Blok
Ketapang dari Sierra Oil Services Limited kepada
SKP.
On February 18, 2013, PT Saka Ketapang

Perdana (SKP), a subsidiary of SEI Received
approval from the Directorate General of Oil and
Gas of the Republic of Indonesia for the transfer of
20% participating interest on Ketapang Block from
Sierra Oil Services Limited to SKP.
*)
Aspek persentase penyelesaian fisik di atas

merupakan persentase rata-rata dari pengadaan
bahan material proyek dan penyelesaian konstruksi.
*)
*)
Aspek persentase penyelesaian fisik di atas berasal

dari laporan bulanan kontraktor FSRU
*) The above percentages of physical completion is from

monthly report of FSRUs contractor
199
The above percentages of physical completion

represent average percentage from procurement of
project raw materials and construction completion.
Annual Report 2012
503

DAN ENTITAS ANAK
KONSOLIDASIAN

AND SUBSIDIARIES
STATEMENTS
December 31, 2012
42. REKLASIFIKASI AKUN
42. RECLASSIFICATION OF ACCOUNTS

Certain accounts in the consolidated statements of
financial position as of December 31, 2011 and
January 1, 2011/December 31, 2010, have been
reclassified to conform with the presentation of
accounts in the 2012 consolidated statement of
financial position, as follows:
Akun-akun tertentu dalam laporan posisi keuangan

konsolidasian tahun 31 Desember 2011 dan
1 Januari 2011/31 Desember 2010 telah
direklasifikasi agar sesuai dengan penyajian laporan
posisi keuangan konsolidasian tahun 2012, sebagai
berikut:
Dilaporkan sebelumnya/
As previously reported
_________________________________________________________
Total/
Amount
______________________________
Penjelasan/
Nature
_____________________________________________________
31 Desember 2011/ December 31, 2011

Kas dan setara kas/
716,806
Aset tidak lancar - lain-lain/

Non-current assets - Others
2,270,407
Liabilitas yang masih harus dibayar/

Accrued liabilities
34,038,617
Komponen ekuitas lainnya/

(35,301,648)
Direklasifikasikan ke kas yang dibatasi

penggunaannya/Reclassified to restricted
cash
Direklasifikasikan ke uang muka - setelah
dikurangi bagian jatuh tempo dalam waktu
1 tahun/Reclassified to advances - net of
current maturities
Direklasifikasikan ke liabilitas imbalan kerja
jangka pendek /Reclassified to Short-term
employees benefits liabilities
Direklasifikasikan ke selisih transaksi
restrukturisasi entitas sepengendali/
Reclassified to difference arising from
restructuring among entities under
common control

Aset tidak lancar - lain-lain/

Non-current assets - Others
234,845
Liabilitas yang masih harus dibayar/

Accrued liabilities
28,989,388
Komponen ekuitas lainnya/

(35,301,648)
200
Direklasifikasikan ke uang muka - setelah

dikurangi bagian jatuh tempo dalam waktu
1 tahun/Reclassified to advances - net of
current maturities
Direklasifikasikan ke liabilitas imbalan kerja
jangka pendek /Reclassified to Short-term
employees benefits liabilities
Direklasifikasikan ke selisih transaksi
restrukturisasi entitas sepengendali/
Reclassified to difference arising from
restructuring among entities under
common control
Annual Report 2012
504
The original supplementary information included herein are in the
Informasi berikut adalah laporan keuangan tersendiri

PT Perusahaan Gas Negara (Persero) Tbk, Entitas
Induk, yang merupakan informasi tambahan dalam
laporan keuangan konsolidasian PT Perusahaan Gas
Negara (Persero) Tbk dan Entitas Anak tanggal
dan 1 Januari 2011/ 31 Desember 2010 (Disajikan
Kembali) dan tahun yang berakhir pada tanggaltanggal 31 Desember 2012 dan 2011 (Disajikan
Kembali).
The following information is the separate financial

statements of PT Perusahaan Gas Negara (Persero)
Tbk, a Parent Entity, which is presented as
supplementary information to the consolidated
financial statements of PT Perusahaan Gas Negara
(Persero) Tbk and Subsidiaries as of December 31,
2012
and
2011
(As
Restated)
and
January 1, 2011/December 31, 2010 (As Restated)
and years ended December 31, 2012 and 2011 (As
Restated).

TERSENDIRI
31 Desember 2012 dan 2011
(Disajikan Kembali) dan 1 Januari 2011/
31 Desember 2010 (Disajikan Kembali)
(Disajikan dalam Dolar Amerika,

SEPARATE STATEMENTS OF
FINANCIAL POSITION
December 31, 2012 and 2011
(As Restated) and January 1, 2011/
December 31, 2010 (As Restated)
31 Dec. 2012/
Dec. 31, 2012
31 Des. 2011/
Dec. 31, 2011
(Disajikan kembaliCatatan 1/
As RestatedNote 1)
1 Jan. 2011/
31 Dec. 2010
Jan. 1, 2011
Dec. 31, 2010
(Disajikan KembaliCatatan 1/
As RestatedNote 1)
ASET
ASET LANCAR
Kas dan setara kas
pada tanggal 31 Desember 2011 dan
Piutang dari entitas anak
Persediaan - neto
waktu satu tahun
Total Aset Lancar
ASSETS
1,450,567,091
331,505
108,286,034
1,054,265,386
2,566,382
27,276,060
1,132,784,390
357,004
-
223,303,445
4,080,633
20,070,643
2,420,739
191,681,797
5,718,263
7,441,943
1,949,996
186,720,951
5,054,520
7,718,553
2,540,473
CURRENT ASSETS
Restricted cash
Trade receivables - net of
allowance for impairment losses of
US$11,096,448
US$9,793,714
US$10,966,854 as of
Other receivables-net
Receivable from subsidiaries
Inventories - net
27,940,481
4,979,840
100,937,732
3,824,235
83,946,083
4,309,042
Current maturities of advances

Prepaid expenses
1,841,980,411
1,395,661,794
1,423,431,016
ASET TIDAK LANCAR

Uang Muka - setelah dikurangi bagian
jatuh tempo dalam waktu satu tahun
Penyertaan saham
Piutang promissory notes
Piutang dari entitas anak dan entitas asosiasi
31 Desember 2012, US$696.955.881
pada tanggal 31 Desember 2011, dan
Taksiran tagihan pajak
Aset tidak berwujud - neto
Lain-lain
111,348,909
37,100,583
203,332,637
68,759,158
11,190,670
78,805,132
20,428,314
146,363,790
96,188,416
-
119,573,324
15,628,714
114,006,131
123,617,674
-
1,261,320,493
9,023,242
2,580,591
2,164,429
1,267,050,505
9,683,110
902,626
4,248,590
1,324,877,081
782,673
2,427,112
NON-CURRENT ASSETS
Advances - net of
current maturities
Promissory notes receivables
Receivables from subsidiaries and associates
depreciation of US$821,328,848
US$696,955,881 as of
December 31, 2011 and
US$572,612,997 as of
Others
1,706,820,712
1,623,670,483
1,700,912,709
TOTAL ASET
3,548,801,123
3,124,343,725
TOTAL ASSETS
3,019,332,277
201
Annual Report 2012
505

TERSENDIRI (lanjutan)
31 Desember 2012 dan 2011
(Disajikan Kembali) dan 1 Januari 2011/
31 Dec. 2012/
Dec. 31, 2012

FINANCIAL POSITION (continued)
December 31, 2012 and 2011
(As Restated) and January 1, 2011/
December 31, 2010 (As Restated)
31 Des. 2011/
Dec. 31, 2011
As RestatedNote 1)
1 Jan. 2011/
31 Dec. 2010
Jan. 1, 2011
Dec. 31, 2010
(Disajikan Kembali Catatan 1/
As Restated Note 1)

Utang usaha
Utang lain-lain
Utang pajak
Pinjaman jangka panjang jatuh tempo
Utang kepada entitas anak
Utang derivatif
imbalan kerja
TOTAL LIABILITAS

186,467,252
33,524,817
33,948,261
15,355,662
73,843,040
61,149,611
28,638,614
31,387,761
12,411,874
18,452,082
71,626,169
35,998,623
26,358,772
17,798,761
33,823,755
45,995,649
7,334,557
45,625,532
2,658,467
174,839,075
3,360,648
CURRENT LIABILITIES
Trade payables
Accrued liabilities
Short-term employees benefist liabilities
Other payables
Taxes payable
long-term loans
Payable to subsidiaries
396,469,238
200,323,941
363,805,803
87,115,630
178,315,793
188,620,017
Derivative payables
748,982,984
851,205,375
1,000,570,222
143,809,411
3,352,100
64,553,772
3,510,548
45,661,989
3,668,991
Long-term loans net of current maturities

employees benefits
Unearned income
983,260,125
1,097,585,488
1,238,521,219
1,379,729,363
1,297,909,429
1,602,327,022
TOTAL LIABILITIES
EKUITAS
US$0,014 per saham
Saham seri B
24.241.508.195 saham Seri B
Saldo laba
Dicadangkan
Tidak dicadangkan
344,018,831
(251,054)
192,555,960
344,018,831
(251,054)
192,555,960
344,018,831
(251,054 )
192,555,960
1,092,941,286
492,630,916
789,957,094
302,244,313
528,622,591
365,292,088
91,778,287
(44,602,466)
91,778,287
1,119,417
91,778,287
-
SHAREHOLDERS EQUITY
Share capital
share which consist of 1 Series A
Series B share
share and 24,241,508,195
Series B shares
Treasury stock
Retained earnings
Appropriated
Unappropriated
Difference raising from restructuring transaction
TOTAL EKUITAS
2,169,071,760
1,721,422,848
1,522,016,703
TOTAL EQUITY
3,548,801,123
3,019,332,277
3,124,343,725
202
Annual Report 2012
506


LAPORAN LABA RUGI
KOMPREHENSIF TERSENDIRI
Tahun yang Berakhir pada Tanggal-Tanggal

COMPREHENSIVE INCOME
Years Ended
2011
As RestatedNote 1)
2012
PENDAPATAN NETO
2,366,361,871
(1,100,896,835)
LABA BRUTO
1,265,465,036
Distribusi dan transportasi
Beban lain-lain
2,050,817,047
NET REVENUES
(905,339,227)
COST OF REVENUES
1,145,477,820
GROSS PROFIT
18,442,934
(199,873,240)
(150,642,702)
(635,193)
17,863,213
(200,902,410)
(140,909,493)
(6,166,818)
LABA OPERASI
932,756,835
815,362,312
Laba (rugi) perubahan nilai wajar

derivatif - neto
Laba (rugi) kurs - neto
Pendapatan keuangan
Pendapatan dividen
Beban keuangan
65,101,054
49,577,038
31,949,748
20,954,500
(16,356,906)
(1,308,732)
(31,883,822)
40,596,558
14,203,892
(21,288,539)
Other income
Other expenses
OPERATING PROFIT
Gain (loss) on change in fair value of
derivative - net
Gain (loss) on foreign exchange - net
Finance income
Dividend income
Finance cost

(BEBAN) PAJAK
1,083,982,269
815,681,669
PROFIT BEFORE

Kini
Tangguhan
(215,494,000)
2,703,067
(157,599,868)
4,799,601

Current
Deferred
Beban Pajak - Neto
(212,790,933)
(152,800,267)
Tax expense, net
LABA TAHUN BERJALAN
871,191,336
662,881,402
PROFIT FOR THE YEAR

Aset keuangan yang tersedia untuk dijual
Kerugian aktuaria
Sub-total
7,794,787
1,119,417

Available-for-sale financial assets
(10,166,936)
Actuarial losses
(2,372,149)
1,119,417
Sub-total
Income tax effect
2,264,627

LAIN SETELAH PAJAK
(107,522)
1,119,417

INCOME AFTER TAX

TAHUN BERJALAN
871,083,814
664,000,819
TOTAL COMPREHENSIVE
INCOME FOR THE YEAR
203
Annual Report 2012
Annual Report 2012
344,018,831
Pembayaran dividen
Pencadangan saldo laba untuk cadangan tujuan
Saldo 31 Desember 2012

tahun berjalan
344,018,831
Laba tahun berjalan


(Setelah penyesuaian)
Penyesuaian neto yang timbul dari penerapan

Pernyataan Standar Akuntansi Keuangan
(PSAK) No.24 (Revisi 2010), Imbalan Kerja
344,018,831

(Sebelum penyesuaian)
Pembayaran dividen
Pencadangan saldo laba untuk cadangan tujuan
344,018,831

tahun berjalan

(Disajikan kembali)
(251,054)
(251,054)
(251,054)
(251,054)
(251,054)
344,018,831
Modal Saham
Diperoleh Kembali/
Treasury Stock
Laba tahun berjalan, disajikan kembali

Pendapatan komprehensif lain tahun berjalan,
disajikan kembali
Saldo pada tanggal 1 Januari 2011/31 Desember 2010

(Disajikan kembali)
Modal Saham
Ditempatkan dan
Disetor Penuh/
Issued and Fully
Paid Capital
Stock
192,555,960
192,555,960
192,555,960
192,555,960
192,555,960
Modal Disetor
Lainnya/
Other Paid
in Capital
1,092,941,286
302,984,192
789,957,094
789,957,094
789,957,094
261,334,503
528,622,591
Dicadangkan/
Appropriated
492,630,916
(352,205,589)
(12,807,476)
(12,807,476)
(302,984,192)
871,191,336
871,191,336
-
302,244,313
302,244,313
302,244,313
(435,557,506)
(14,518,584)
(14,518,584)
(261,334,503)
662,881,402
662,881,402
365,292,088
Tidak
Dicadangkan/
Unappropriated
Saldo Laba/Retained Earning

LAPORAN PERUBAHAN EKUITAS TERSENDIRI
Tahun yang Berakhir pada Tanggal-Tanggal 31 Desember 2012 dan 2011 (Disajikan Kembali)
(Disajikan dalam Dolar Amerika, Kecuali Dinyatakan Lain)
91,778,287
91,778,287
91,778,287
91,778,287
91,778,287
Selisih Transaksi
Restrukturisasi
Entitas
Sepengendali/
Difference Arising
from Restructuring
Transaction among
Entities under
Common Control
(53,516,670)
(7,902,309)
(7,902,309)
(45,614,361)
(45,614,361)
Keuntungan
(kerugian)
Aktuaria/
Actuarial
gain (loss)
8,914,204
7,794,787
7,794,787
1,119,417
1,119,417
1,119,417
1,119,417
1,119,417
Aset Keuangan
yang tersedia
untuk dijual/
Available-for-sale
financial asset
(44,602,466)
(107,522)
(107,522)
(44,494,944)
(45,614,361)
1,119,417
1,119,417
1,119,417
1,119,417
Total Komponen
Ekuitas Lainnya/
Total Other
Components
of Equity
Komponen Ekuitas Lainnya/Other Components of Equity _
2,169,071,760
(352,205,589)
(12,807,476)
(12,807,476)
-
871,083,814
871,191,336
(107,522)
1,675,808,487
(45,614,361)
1,721,422,848
1,721,422,848
(435,557,506)
(14,518,584)
(14,518,584)
-
664,000,819
1,119,417
662,881,402
1,522,016,703
Jumlah Ekuitas/
Total Equity

( before adjustment)

(As restated)
Profit for the year, as restated

Other comprehensive income for the year,
(As restated)
Balance as of January 1, 2011/December 31, 2010

(As restated)
Profit for the year

Other comprehensive income

(After adjustment)
Net adjustment arising form adoption of

Statement of Financial Accounting Standard
(PSAK) No. 24 (Revised 2010), Employee Benefits

SEPARATE STATEMENTS OF CHANGES IN EQUITY
Years Ended December 31, 2012 and 2011 (As Restated)
The original supplementary information included herein are in the Indonesian language.
507
508


LAPORAN ARUS KAS TERSENDIRI
Tahun yang Berakhir pada Tanggal-Tanggal

SEPARATE STATEMENTS OF CASH FLOWS
Years Ended
31 Des. 2011/
Dec. 31, 2011
As RestatedNote 1)
2012
OPERASI
Penerimaan dari Entitas Anak
dari tagihan pajak
Pembayaran bunga
aktivitas operasi
INVESTASI
Penerimaan dividen
Penerimaan (pembayaran) Promissory Notes
dan piutang dari entitas anak
Pengurangan kas yang
aktivitas investasi
PENDANAAN
Pembayaran dividen
Pembayaran pinjaman
Pembayaran dari derivatif
dan bina lingkungan
aktivitas pendanaan
2,329,521,031
27,653,884
25,691,618
(931,626,088)
2,018,521,946
41,971,008
7,267,678
(878,854,180)
(115,387,280)
(47,498,114)
(77,677,934)
(46,960,084)
(194,155,700)
(17,854,894)
(206,056,225)
(22,266,807)
1,076,344,457
835,945,402

ACTIVITIES
Receipts from Subsidiaries
Net cash provided by operating
activities
20,954,500
(121,461,493)
(118,566,773)
14,203,892
(58,300,079)
(5,993,750)
(27,651,929)
(12,228,398)
7,984,419
(24,202,420)

ACTIVITIES
Receipt from dividend
Receipts (payments) of Promissory Notes and
receivables from subsidiaries
(2,575,939)
(8,924)
(2,286,530)
(925)
Deduction from restricted cash

(261,538,956)
(68,595,393)
Net cash used in

(316,491,441)
(28,707,389)
(26,099,109 )
(442,440,244)
(356,550,664)
(2,257,653)
(25,096,388)
-
(29,172,934)
220,866

ACTIVITIES
Payments of loans
development program
(396,394,327)
(830,200,629)
Net cash used in


(22,109,469)
KENAIKAN (PENURUNAN) NETO

KAS DAN SETARA KAS
396,301,705
(78,519,004)
NET INCREASE (DECREASE) IN

KAS DAN SETARA KAS AWAL TAHUN
1,054,265,386
1,132,784,390

KAS DAN SETARA KAS AKHIR TAHUN
1,450,567,091
1,054,265,386

AT END OF YEAR
205
(15,668,384)
Annual Report 2012
Net effects foreign exchange differences

from cash and cash equivalents
509

TERSENDIRI
Pada Tanggal 31 Desember 2012
(Disajikan Kembali) dan Tahun yang Berakhir Pada
Tanggal 31 Desember 2012 dan 2011
1. IKHTISAR
PENTING
KEBIJAKAN
Dasar
Penyusunan
Tersendiri Entitas Induk
AKUNTANSI
Laporan

NOTES TO SEPARATE FINANCIAL STATEMENTS
As of December 31, 2012
and 2011 (As Restated) and
And Years Ended December 31, 2012
YANG
1.
SUMMARY
POLICIES
OF
SIGNIFICANT
ACCOUNTING
Keuangan
Basis of Preparation of the Separate Financial

Statements of the Parent Entity
Laporan keuangan tersendiri Entitas Induk disusun

sesuai dengan Pernyataan Standar Akuntansi
Keuangan (PSAK) No. 4 (Revisi 2009), Laporan
Keuangan Konsolidasian dan Laporan Keuangan
Tersendiri .
The separate financial statements of the Parent

Entity are prepared in accordance with the
Statement of Financial Accounting Standards
(PSAK) No. 4 (Revised 2009), Consolidated and
Separate Financial Statements.
PSAK No. 4 (Revisi 2009) mengatur dalam hal

entitas memilih untuk menyajikan laporan keuangan
tersendiri maka laporan tersebut hanya dapat
disajikan sebagai informasi tambahan dalam
laporan keuangan konsolidasian. Laporan keuangan
tersendiri adalah laporan keuangan yang disajikan
oleh Entitas Induk yang mencatat investasi pada
entitas anak, entitas asosiasi, dan pengendalian
bersama entitas berdasarkan kepemilikan ekuitas
langsung bukan berdasarkan pelaporan hasil dan
aset neto investee.
PSAK No. 4 (Revised 2009) regulates that when an

entity elected to present the separate financial
statements, such financial statements should be
presented as supplementary information to the
consolidated
financial
statements.
Separate
financial statements are those presented by a
Parent Entity, in which the investments are
accounted for on the basis of the direct equity
interest rather than on the basis of the reported
results and net assets of the investees.
Kebijakan akuntansi yang diterapkan dalam

penyusunan laporan keuangan tersendiri entitas
induk adalah sama dengan kebijakan akuntansi
yang diterapkan dalam penyusunan laporan
keuangan konsolidasian sebagaimana diungkapkan
dalam Catatan 2 atas laporan keuangan
konsolidasian, kecuali untuk penyertaan pada
entitas anak dan entitas asosiasi.
Accounting policies adopted in the preparation of

the parent entity separate financial statements are
the same as the accounting policies adopted in the
preparation of the consolidated financial statements
as disclosed in Note 2 to the consolidated financial
statements, except for investments in subsidiaries
and associates.
Sesuai dengan PSAK No. 4 (Revisi 2009), Entitas

Induk mencatat penyertaan pada entitas anak dan
entitas asosiasi dengan menggunakan metode
biaya. Entitas Induk juga mengakui dividen dari
entitas anak dan entitas asosiasi pada laporan laba
rugi dalam laporan keuangan tersendiri ketika hak
menerima dividen ditetapkan.
In accordance with PSAK No. 4 (Revised 2009), the

Parent Entity recorded the investments in
subsidiaries and associates using cost methods.
The Parent Entity also recognize dividend from
subsidiaries and associate in profit or loss in its
separate financial statements when its right to
receive the dividend is established.
Transaksi dan Saldo dalam Mata Uang Asing
Foreign Currency Transactions and Balances
Efektif tanggal 1 Januari 2012, Entitas Induk

menerapkan PSAK No. 10 (Revisi 2010), Pengaruh
Perubahan Nilai Tukar Mata Uang Asing, yang
menggambarkan bagaimana memasukkan transaksi
mata uang asing dan kegiatan usaha luar negeri
dalam laporan keuangan entitas dan menjabarkan
laporan keuangan ke dalam mata uang penyajian.
Entitas Induk mempertimbangkan indikator utama
dan indikator lainnya dalam menentukan mata uang
fungsionalnya. Entitas Induk menentukan mata uang
fungsionalnya adalah Dolar AS dan memutuskan
mata
uang
penyajian
laporan
keuangan
menggunakan Dolar AS. Sehubungan dengan
perubahan mata uang penyajian tersebut, laporan
posisi keuangan tanggal 31 Desember 2011 dan
Effective on January 1, 2012, Parent Entity applied

PSAK No. 10 (Revised 2010), The Effects of
Changes in Foreign Exchange Rates, which
describes how to include foreign operations in the
financial statements of an entity and translate
financial statements into a presentation currency.
Parent Entity considers the primary indicators and
other indicators in determining its functional
currency. Parent Entity determined that the
functional currency is the US Dollar and decided
that the presentation currency for the financial
statements is the US Dollar. In relation to such
change in the presentation currency, the
statements of financial position as of December 31,
2011 and Januari 1, 2011/December 31, 2010 and
206
Annual Report 2012
510

TERSENDIRI
dan 31 Desember 2011 (Disajikan Kembali)
(Disajikan Kembali) dan Tahun yang Berakhir Pada
Tanggal 31 Desember 2012 dan 2011
1. IKHTISAR KEBIJAKAN
PENTING (lanjutan)
AKUNTANSI

As of December 31, 2012,
December 31, 2011 (As Restated) and
YANG
1.
ACCOUNTING

(lanjutan)

(continued)
1 Januari 2011/31 Desember 2010 dan laporan laba

rugi komprehensif, laporan perubahan ekuitas dan
laporan arus kas untuk tahun yang berakhir pada
tanggal 31 Desember 2011 disajikan kembali
dengan menggunakan mata uang penyajian Dolar
AS.
the statements of comprehensive income, changes

in equity and cash flows for the year ended
December 31, 2011 were restated and presented
using the US Dollar as its presentation currency.
Dampak dari penerapan awal PSAK No. 10 (Revisi

2010) adalah sebagai berikut:
The impact of the initial adoption of PSAK

No. 10 (Revised 2010) is as follows:

Dilaporkan
Sebelumnya/
As Previously
Reported
(Dalam Rupiah/
In Rupiah)
Disajikan Kembali/
As Restated
(Dalam Dolar AS/
In US Dollar)
ASET
ASET LANCAR
Kas dan setara kas
Piutang dari Entitas Anak
Persediaan - neto
waktu satu tahun
Total Aset Lancar
ASSETS
9,560,078,517,102
23,271,950,457
247,339,377,520
1,054,265,386
2,566,382
27,276,060
1,738,170,536,980
51,853,212,123
67,483,538,884
11,615,456,547
191,681,797
5,718,263
7,441,943
1,949,996
915,303,351,389
33,775,113,167
100,937,732
3,824,235
CURRENT ASSETS
Restricted cash
Receivable from Subsidiaries
Inventories - net
advances
Prepaid expenses
12,648,891,054,169
1,395,661,794
ASET TIDAK LANCAR

waktu satu tahun
Penyertaan saham
Aset tidak berwujud - neto
Lain-lain
714,604,936,976
185,243,955,052
1,347,293,719,980
872,236,554,474
78,805,132
20,428,314
146,363,790
96,188,416
11,673,767,105,994
87,806,440,601
8,451,344,789
38,125,306,299
1,267,050,505
9,683,110
902,626
4,248,590
Advances - net of
current maturities
Promissory notes receivables
depreciation
Others
14,927,529,364,165
1,623,670,483
TOTAL ASET
27,576,420,418,334
3,019,332,277
TOTAL ASSETS
NON-CURRENT ASSETS
207
Annual Report 2012
511


TERSENDIRI
dan 2011 (Disajikan Kembali) dan 1 Januari 2011/
dan Tahun yang Berakhir Pada Tanggal
AKUNTANSI

YANG
1.

(lanjutan)
ACCOUNTING

(continued)

Dilaporkan
Sebelumnya/
As Previously
Reported
(Dalam Rupiah/
In Rupiah)
Disajikan Kembali/
As Restated
(Dalam Dolar AS/
In US Dollar)

Utang usaha
Utang lain-lain
Utang pajak
Utang derivatif
imbalan kerja
TOTAL LIABILITAS

554,504,673,797
259,694,959,984
284,624,220,973
112,468,521,481
167,323,482,806
61,149,611
28,638,614
31,387,761
12,411,874
18,452,082
413,732,327,505
24,106,978,513
45,625,532
2,658,467
CURRENT LIABILITIES
Trade payables
Accrued liabilities
Other payables
Taxes payable
long-term loans
1,816,455,165,059
200,323,941
1,616,967,611,921
178,315,793
Derivative payable
7,718,730,342,382
851,205,375
585,373,602,408
32,695,573,145
64,553,772
3,510,548

current maturities
employees benefits
Unearned income
9,953,767,129,856
1,097,585,488
11,770,222,294,915
1,297,909,429
TOTAL LIABILITIES
EKUITAS
EQUITY

$0,014 per saham
Saham seri B

the parent entity
2,424,150,819,600
(2,501,246,250)
1,709,790,833,464
344,018,831
(251,054)
192,555,960
7,009,383,145,502
3,767,759,176,200
789,957,094
302,244,313
887,464,524,653
10,150,870,250
91,778,287
1,119,417

Series B share
share and 24,241,508,195
Series B shares
Treasury stock
Retained earnings
Appropriated
Unappropriated
TOTAL EKUITAS
15,806,198,123,419
1,721,422,848
TOTAL EQUITY
27,576,420,418,334
3,019,332,277
24.241.508.195 saham Seri B
Saldo laba
Dicadangkan
Tidak dicadangkan
208
Annual Report 2012
512

TERSENDIRI
AKUNTANSI

YANG
1.

(lanjutan)
ACCOUNTING

(continued)

Dilaporkan
Sebelumnya/
As Previously
Reported
(Dalam Rupiah/
In Rupiah)
Disajikan Kembali/
As Restated
(Dalam Dolar AS/
In US Dollar)
ASET
ASET LANCAR
Kas dan setara kas
Piutang dari entitas anak
Persediaan - neto
waktu satu tahun
Total Aset Lancar
ASSETS
10,184,864,446,273
3,209,827,138
1,132,784,390
357,004
1,678,808,068,584
45,445,190,511
69,397,511,623
13,827,625,713
186,720,951
5,054,520
7,718,553
2,540,473
754,759,235,208
39,750,668,984
83,946,083
4,309,042
CURRENT ASSETS
Restricted cash
Receivable from subsidiaries
Inventories - net
advances
Prepaid expenses
12,790,062,574,034
1,423,431,016
ASET TIDAK LANCAR

waktu satu tahun
Penyertaan saham
Beban ditangguhkan - neto
Lain-lain
1,072,972,264,689
140,517,766,455
1,057,003,719,980
1,111,446,507,114
119,573,324
15,628,714
114,006,131
123,617,674
12,213,799,852,631
7,369,896,980
22,997,257,790
1,324,877,081
782,673
2,427,112
Advances - net of
current maturities
Promissory notes receivable
depreciation
Deferred charges - net
Others
15,626,107,265,639
1,700,912,709
TOTAL ASET
28,416,169,839,673
3,124,343,725
TOTAL ASSETS
NON-CURRENT ASSETS

Utang usaha
Utang lain-lain
Utang pajak
643,990,887,988
323,663,620,432
236,991,715,882
159,748,813,922
304,109,382,798
71,626,169
35,998,623
26,358,772
17,798,761
33,823,755
1,571,978,116,647
30,215,584,669
174,839,075
3,360,648
CURRENT LIABILITIES
Trade payables
Accrued liabilities
Other payables
Taxes payable
long-term loans
3,270,698,122,338
363,805,803
1,695,882,571,498
188,620,017
Derivative payable
8,996,126,967,873
1,000,570,222
410,546,941,621
34,178,508,908
45,661,989
3,668,991

current maturities
employees benefits
Unearned income
11,136,734,989,900
1,238,521,219
TOTAL LIABILITAS
14,407,433,112,238
1,602,327,022
TOTAL LIABILITIES

Utang derivatif
imbalan kerja
209
Annual Report 2012
513


TERSENDIRI
AKUNTANSI

YANG
1.

(lanjutan)
ACCOUNTING

(continued)

Dilaporkan
Sebelumnya/
As Previously
Reported
(Dalam Rupiah/
In Rupiah)
Disajikan Kembali/
As Restated
(Dalam Dolar AS/
In US Dollar)
EKUITAS
US$0,014 per saham
saham seri B
EQUITY
the parent entity
2,424,150,819,600
(2,501,246,250)
1,709,790,833,464
344,018,831
(251,054 )
192,555,960
4,763,213,088,130
4,226,618,707,838
528,622,591
365,292,088

Series B share
share and 24,241,508,195
Series B shares
Treasury stock
Retained earnings
Appropriated
Unappropriated
887,464,524,653
91,778,287

TOTAL EKUITAS
14,008,736,727,435
1,522,016,703
TOTAL EQUITY
28,416,169,839,673
3,124,343,725
24.241.508.195 saham Seri B
Saldo laba
Dicadangkan
Tidak dicadangkan

Dilaporkan
Sebelumnya/
As Previously
Reported
(Dalam Rupiah/
In Rupiah)
Disajikan Kembali/
As Restated
(Dalam Dolar AS/
In US Dollar)
PENDAPATAN NETO
17,991,412,897,709
2,050,817,047
NET REVENUES
(7,941,814,189,116)
(905,339,227)
COST OF REVENUES
LABA BRUTO
10,049,598,708,593
1,145,477,820
GROSS PROFIT
Beban lain-lain
LABA OPERASI
153,550,998,913
(1,799,949,623,606)
(1,240,305,930,773)
(50,903,424,797)
17,863,213
(200,902,410 )
(140,909,493)
(6,166,818 )
7,111,990,728,330
815,362,312
210
Annual Report 2012
Other income
Other expenses
OPERATING PROFIT
514

TERSENDIRI
AKUNTANSI

YANG
1.

(lanjutan)
ACCOUNTING

(continued)

Dilaporkan
Sebelumnya/
As Previously
Reported
(Dalam Rupiah/
In Rupiah)
Disajikan Kembali/
As Restated
(Dalam Dolar AS/
In US Dollar)
Pendapatan keuangan
Pendapatan dividen
Rugi kurs - neto
Beban keuangan
derivatif - neto
355,453,947,900
129,087,216,796
(241,960,885,868)
(187,579,399,896)
40,596,558
14,203,892
(31,883,822)
(21,288,539)
(2,100,455,818)
(1,308,732)

(BEBAN) PAJAK
7,164,891,151,444
815,681,669

Kini
Tangguhan
(1,429,115,601,200)
44,726,188,597
(157,599,868)
4,799,601
Beban Pajak - Neto
(1,384,389,412,603)
(152,800,267)
Tax Expense - Net
5,780,501,738,841
662,881,402
PROFIT FOR THE YEAR

Aset keuangan
Pajak penghasil terkait
10,150,870,520
-
1,119,417
-

Available-for-sale
financial assets
Income tax effect

LAIN SETELAH PAJAK
10,150,870,520
1,119,417

INCOME AFTER TAX

TAHUN BERJALAN
5,790,652,610,256
664,000,819
TOTAL COMPREHENSIVE
INCOME FOR THE YEAR
LABA TAHUN BERJALAN
211
Annual Report 2012
Finance income
Dividend income
Finance cost
derivative - net
PROFIT BEFORE
Current
Deferred
515


TERSENDIRI
AKUNTANSI

YANG
1.

(lanjutan)
ACCOUNTING

(continued)

Dilaporkan
Sebelumnya/
As Previously
Reported
(Dalam Rupiah/
In Rupiah)
OPERASI
Penerimaan dari Entitas Anak
dari tagihan pajak
Pembayaran bunga
aktivitas operasi
INVESTASI
Penerimaan dividen
Penerimaan dari promissory notes
dan piutang dari Entitas Anak
Pengurangan kas yang
aktivitas investasi
PENDANAAN
Pembayaran dividen
Pembayaran pinjaman
dan bina lingkungan
aktivitas pendanaan
PENURUNAN NETO
KAS DAN SETARA KAS
Disajikan Kembali/
As Restated
(Dalam Dolar AS/
In US Dollar)
17,714,548,585,219
368,337,565,952
63,781,138,746
(7,712,824,282,102)
2,018,521,946
41,971,008
7,267,678
(878,854,180)
(681,701,548,784)
(411,005,758,571)
(77,677,934)
(46,960,084)
(1,808,349,428,030)
(195,413,497,196)
(206,056,225)
(22,266,807)

ACTIVITIES
Receipts from subsidiaries
7,337,372,775,234
835,945,402

124,653,354,016
14,203,892
78,055,677,809
(8,114,560)
(511,641,493,086)
(303,296,256,250)
(220,000,000,000)
7,984,419
(925)
(58,300,079)
(5,993,750)
(24,202,420)

ACTIVITIES
Receipt from dividend
Receipts from promissory notes
and receivables from subsidiaries
(20,066,582,320)
(2,286,530)
Deductions from restricted cash
(852,303,414,391)
(68,595,393)
Net cash used in

(3,637,746,499,254)
(3,129,088,627,419)
(442,440,244)
(356,550,664)
(249,574,450,820)
(102,788,262,253)
1,938,317,540
(29,172,934)
(2,257,653)
220,866

ACTIVITIES
Payments of loans
development program
(7,117,259,522,206)
(830,200,629)
Net cash used in

(15,668,384)

from cash and cash equivalents
(78,519,004)
NET DECREASE IN
7,404,232,192
(624,785,929,171)
KAS DAN SETARA KAS

AWAL TAHUN
10,184,864,446,273
1,132,784,390

KAS DAN SETARA KAS

AKHIR TAHUN
9,560,078,517,102
1,054,265,386

AT END OF YEAR
212
Annual Report 2012
516


TERSENDIRI
AKUNTANSI

YANG
1.
ACCOUNTING

(lanjutan)

(continued)
Nilai tukar yang digunakan adalah sebagai berikut:
The rates of exchange used were as follows:
31 Des. 2012/
Dec. 31, 2012
1 Dolar Amerika (US$)/Rupiah
1 Dolar Amerika (US$)/SG$
1 Dolar Amerika (US$)/JPY
31 Des. 2011/
Dec. 31, 2011
9,670.00
1.22
86.36
31 Des. 2010/
Dec. 31, 2010
9,068.00
1.30
77.63
2. PENYERTAAN SAHAM PADA ENTITAS ANAK

DAN ENTITAS ASOSIASI
2.
8,991.00
1.29
81.52
US Dollar 1 (US$)/Rupiah
US Dollar 1 (US$))/SG$
US Dollar 1 (US$)/JPY
INVESTMENTS IN SHARES OF STOCK OF

SUBSIDIARIES AND ASSOCIATES
Informasi mengenai entitas asosiasi yang dimiliki

Kelompok Usaha diungkapkan dalam Catatan 1.d
atas Laporan Keuangan Konsolidasian.
Information pertaining to associates owned by the

Group is disclosed in Note 1.d to the Consolidated
Financial Statements.

Entitas Induk memiliki penyertaan saham pada
entitas anak dan entitas asosiasi berikut:

January 1, 2011/December 31, 2010, the Parent
Entity has the following investments in shares of
stock of subsidiaries and associates:
31 Des. 2012/Dec. 31, 2012
Nama Entitas/
Entity Name
Entitas Anak/Subsidiaries
(Transgasindo)
PT PGN Euro Finance 2003 (PGNEF)
(PGASKOM)
PT PGN LNG Indonesia
Entitas Asosiasi/Associates
PT Nusantara Regas
PT Gas Energi Jambi
PT Banten Gas Sinegy
Persentase
kepemilikan/
Percentage of
ownership
Biaya perolehan
1 Jan. 2012/
Acquisition cost
Jan. 1, 2012
Penambahan/
Additions
Biaya Perolehan
31 Des. 2012/
Carrying value
Dec. 31, 2012
Pengurangan/
Deduction
59,87%
100,00%
81,755,336
1
81,755,336
1
99,93%
99,91%
99,00%
99,00%
99,98%
6,872,161
3,537,140
4,364,775
3,790,464
-
5,490,998
39,249,451
6,872,161
9,028,138
4,364,775
3,790,464
39,249,451
40,00%
40,00%
0,14%
45,929,742
111,453
2,718
12,228,399
-
58,158,141
111,453
2,718
146,363,790
56,968,848
203,332,637
Total/Total
213
Annual Report 2012
517

TERSENDIRI

2. PENYERTAAN SAHAM PADA ENTITAS ANAK

DAN ENTITAS ASOSIASI (lanjutan)
2.
INVESTMENTS IN SHARES OF STOCK OF

SUBSIDIARIES AND ASSOCIATES (continued)
31 Des. 2011/Dec. 31, 2011
Nama Entitas/
Entity Name
(Transgasindo)
(PGASKOM)
PT Nusantara Regas
PT Gas Energi Jambi
PT Banten Gas Sinergy
Persentase
kepemilikan/
Percentage of
ownership
Biaya perolehan
1 Jan. 2011/
Acquisition cost
Jan. 1, 2011
Penambahan/
Additions
Biaya Perolehan
31 Des. 2011/
Carrying value
Dec. 31, 2011
Pengurangan/
Deduction
59,87%
100,00%
81,755,336
1
81,755,336
1
99,93%
99,91%
99,00%
99,00%
6,872,161
3,537,140
-
4,364,775
3,790,464
6,872,161
3,537,140
4,364,775
3,790,464
40,00%
40,00%
1,00%
21,727,322
111,453
2,718
24,202,420
-
45,929,742
111,453
2,718
114,006,131
32,357,659
146,363,790
Total/Total
1 Jan. 2011/31 Des 2010/Jan 1. 2011/Dec. 31, 2010
Nama Entitas/
Entity Name
(Transgasindo)
(PGASKOM)
PT Nusantara Regas
PT Gas Energi Jambi
PT Banten Gas Sinergy
Persentase
kepemilikan/
Percentage of
ownership
Nilai tercatat
1 Jan. 2010/
Carrying value
Jan. 1, 2010
Penambahan/
Additions
Nilai tercatat
31 Des. 2010/
Carrying value
Dec. 31, 2010
Pengurangan/
Deduction
59,87%
100,00%
81,755,336
1
81,755,336
1
99,93%
99,91%
6,872,161
3,537,140
6,872,161
3,537,140
40,00%
40,00%
1,00%
111,453
2,718
21,727,322
-
21,727,322
111,453
2,718
92,278,809
21,727,322
114,006,131
Total/Total
214
Annual Report 2012
518
Annual Report
Laporan
Tahunan
2012
2012energy
energy
for for
life life
519
Statement Letter
Members of the Board of Commissioners
and the Board of Directors
Regarding
Responsibility For Annual Report 2012
We the undersigned declare that all the information included in the annual report 2012 of PT Perusahaan Gas
Negara (Persero) Tbk has been fully disclosed and we are responsible for the truthfulness of the content of the
companys annual report.
This is our declaration, which has been made truthfully.
Jakarta, 8 March 2013
President Director
Director of Finance
President
Commissioner
Commissioner
HENDI PRIO SANTOSO
Mochtar RIZA PAHLEVI TABRANI
bayu krisnaMURTHI
kiagus AHMAD badaruddin
and Development
Director of General Affairs

and Human Resources
Independent
Commissioner
Independent
Commissioner
DJOKO SAPUTRO
hendi kusnadi
pudja sunasa
widya purnama
Director of Investment
Planning & Risk
Management
Director of Commerce and

Operations
Commissioner
Commissioner
Bambang Dwijanto
M. zamkhani
muhammad wahid sutopo

jobi triananda hasjim
Annual Report 2012
energy for life
Bapepam-LK No. X.K.6 Cross Reference
520
As Attached in the Decree of Chairman of Bapepam-LK

No. Kep-431/BL/2012 dated 1 August 2012
Bapepam-LK No. X.K.6

Cross Reference
Description
Criteria
Page
I. General
1. Written in good and correct Bahasa Indonesia,
it is recommended to present the report as well
asin English.
2. Printed with good quality using readable type

and size of font
3. The Annual Report is posted in the Companys

website.
4. The Annual Report shall be made in

such a way
that is easy to read. pictures, graphs, tables
and charts by mentioning the title and / or
description clearly.
II. Financial Highlights

1. Financial information in comparative form over
a period of 3 (three) financial years or since the
commencement of business if the company has
been running its business activities for less than
3 (three) years
The information includes:

1. Revenues;
2. Gross Profit;
3. Income (Loss);
4. Total income (loss) attributable to owners of the parent
entity and non controlling interest;
5. Total comprehensive income (loss);
6. Total comprehensive income (loss) attributable to
owners of the parent entity and non controlling interest;
7. Income (loss) per share;
8. Total aset;
9. Total liability;
10. Total equity;
11. Income (loss) ratio to the total asset;
12 Income (loss) ratio to the equity;
13. Income (loss) ratio to the revenues;
14. Current ratio;
15. Liability ratio to the equity;
16. Liability ratio to the total asset; and
17. Other information and financial ratios relevant to the
company and its industry
Annual Report 2012
energy for life
30
521

Criteria
Description
Page
2. The annual report must include information

regarding the shares issued for each quarter in
the period of 2 (two) financial years (if any)
Information includes:
1. Number of outstanding share
2. Market Capitalization
3. Highest, lowest, and closing share price; and
4. Trading volume
3. In case of corporate actions such as stock split

reverse stock, stock dividend, bonus shares
and par value reduction, the stock pricing
information referred to in point 2), shall be
added
1. Implementation date of corporate action
2. Stock split, reverse stock, share dividend, bonus share
ratio, and decline in share value
3. Number of outstanding share before and after corporate
action; and
4. Share price before and after corporate action
33
N/A
4. In terms of stock trading suspension during

the year, the annual report must include an
explanation of the reason for the suspension.
N/A
5. In terms of suspension as referred in item (4) still

being imposed until the date of annual report
issuance, the Issuer or Public Company must also
explain the actions of the company to resolve
the issue.
N/A
III. Report to The Shareholders

1. Report from the Board of Commissioners
Includes the following items:

1. Assessment on the performance of the Board of Directors
in managing the company;
2. View on the prospects of the companys business as
established by the Board of Directors;
3. Change in the composition of members of the Board of
Commissioner and the reason of its change (if any); and
4. Committees under the supervisions of the Board of
Commissioners.
Annual Report 2012
energy for life
37-42
522

Criteria
Description
Page
2. Report from tne Board of Directors

1. The companys performance, encompassing among
others strategic policies, comparison between
achievement of results and targets and challenges faced
by the company.
2. Business prospects.
3. Implementation of Good Corporate Governance by the
company.
4. Changes in the composition of the Board of Directors (if
any).
43-50
IV. Company Profile

1. Company Profile
Information includes the following items:

Name, address, telephone, facsimile, email and website and/
or branch office or representative office, where the public
can obtain information about the company;
53,
56 - 57,
back
cover
2. Brief history of the company
Includes among others: date/year of establishment, name

and change in the company name, if any.
53, 5859
3. Line of Business
Description includes:
1. The line of business as stated in the last Articles of
Association; and
2. Type of products and/or services produced
60-61
4. Organization Structure
In the form of a chart, at least until one level below the

Board of Directors, along with names and titles;
66-67
5. Vision and Mission;
1. Companys vision and mission
2. Statement that vision and mission has been approved by
the Board of Directors / Board of Commissioners
68-69
6. Profile of the Board of Commissioners
1. Name;
2. Position history, work experience, and legal basis for the
first appointment in publicly listed companies, as set out
in the minutes of GMS decisions;
3. Education history
4. A brief description of the type of trainings attended
in order to improve the competency of the Board of
Commissioners who during the year (if any); and
5. Disclosure of affiliated relations with other members of
the Board of Director and Board of Commissioner, as well
as shareholder (if any)
70-72
Annual Report 2012
energy for life
523

Criteria
Description
Page
7. Profile of the Board of Directors
1. Name and brief description regarding the duty and
function performed;
2. Position history, work experience, and legal basis for the
first appointment in publicly listed companies, as set out
in the minutes of GMS decisions;
3. Education history
4. A brief description of the type of training in order to
improve the competence of the Board of Commissioners
who have followed in the financial year (if any); and
5. Disclosure of affiliated relations with other members of
the Board of Director and shareholder (if any);
74-79
80-81
8. Change in the composition of the Board of

Commissioners and/or Board of Directors after
the end of financial year until the time limit of
submission of annual report as reffered in item
number 1 letter a, the composition has set in
annual report is the compostion of the last and
before of the Board of Commissioner and/or
Board of Director
9. Number of employee and description of
competency development for the year including
implementation of employee education and
training programs
1. Number of employee for each organization level
2. Number of employee for each education level
3. Competency development that has been done by
reflecting the equality of opportunity to all employees
4. Incurred fund
82-86,
259
10. Description of the name of shareholder and

the percentage of its ownership at the end of
financial year
Description includes following items:

1. Shareholder who own 5% (five) or more of issuer shares
or Public Company;
2. Commissioner and Director who own issuer shares or
Public Company; and
3. The category of public shareholders who each own less
than 5% of the shares and percentage of their ownership
87-89
N/A
11. Information regarding major shareholder and

issuer or public company, both directly or
indirectly, which presented in form of scheme
or chart;
12. Subsidiaries, associated company, joint venture
1. Name of the subsidiaries/associations

2. Percentage of share ownership
3. Information of the line of business of subsidiaries or
associations
4. Information of subsidiaries and associations operational
status (has operated or has not operated yet)
5. Information regarding the address of subsidiaries
Annual Report 2012
energy for life
90-100
524

Criteria
Description
Page
13. Share listing chronology and change in the

number of shares from initial listing to the
end of financial year and name of exchange(s)
where the shares are listed (if any)

1. Share listing chronology
2. Corporate actions affecting total number of shares
3. Change in the total number of shares from initial listing
to the end of the financial year
4. Name of exchange(s) where the shares are listed
102
14. Listing chronology of the other securities and

securities rating (if any)

1. Listing chronology of other securities
2. Corporate actions affecting total number of other
securities
3. Changes in the total number of other securities from
initial listing to the end of the fiscal year
4. Name of exchange(s) where the other securities are listed
5. Securities rating
103
15. Name and address of the Rating Agency (if any)
Information Includes the following items:

1. Name and address of PT Pemeringkat Efek Indonesia
(Pefindo)
2. Name and address of Standard & Poors
3. Name and address of Moodys Asia Pacific Limited
4. Name and address of Fitch Ratings
103
16. Names and addresses of capital market agencies

and professionals. To the capital market
supporting that gives service regularly to the
Issuers or Public Company, must be disclosed
information regarding the service, fee, and
period of duty; and
Information Includes the following items:

1. Name and address of BAE
2. Name and address of Public Accountant Firm
3. Name and address of Indonesia Stock Exchange
4. Name and address of KSEI
104-105
17. Awards and/or certification received by the

company at both national and international
levels during the year (if any)
Information includes the following items:

1. Names of awards and/or certificates
2. Year awarded
3. Awarding or certifying authority or institution
4. validity (for certificates)
106-109
1. Review of operations per business segments in

accordance with the type of industry or Public
Company, includes:
Description includes the following items:

1. Production, including process, capacity, and its
development;
2. Revenues; and
3. Profitability;
122-133
2. Comprehensive analysis of financial

performance includes a comparison of the
financial performance in the last 2 (two) years,
explanation regarding the changes and impact
of its changes, covering at least:
1. current asset, non current asset, and total asset;

2. Short term liabilities, long term liabilities, and total
liabilities;
3. Equity;
4. Revenues, expense, income (loss), other comprehensive
revenues, and total comprehensive income (loss); and
5. Cash flow;
145-150
150-152
V. Managements Discussion and Analysis
3. Ability to pay debts by presenting relevant

calculation ratio;
Explanation of:
Ability to pay debts, both short-term and long-term
Annual Report 2012
energy for life
152-153
136-145
153
154
525

Criteria
Description
Page
4. Receivables collectibility level by presenting the

relevant calculation ratio;
Explanation of:
Collectibility receivabels level
5. Discussion of capital structure and capital

structure policy
Explanation of:
1. capital structure
2. Capital structure policy
6. Discussion of material commitments for capital

expenditure with explanation of the purpose
of its commitment, source fund expected to
meet the commitment, denominated currency,
and Planned actions to hedge against foreign
currency risks
Explanation of:
1. The purpose of the commitments
2. Expected sources of funds to honor the commitment
3. Currency
4. Planned actions to hedge against foreign currency risks
Note: if the company has no commitments for capital
expenditure, this should be stated
155
7. Material information and facts subsequent to

the date of the accountants report
Description of significant events after the date of the

accountants report, including the effects on the companys
future performance and business risk
Note: if there were no significant events subsequent to the
date of the accountants report, this should be stated
155
8. Business prospect;
Description of the companys prospects in relation to the

industry and the economy in general, with supporting
quantitative data from reliable sources
155
154
154
155
9. Comparison between targets/projections at

the initial of financa year with the realization,
regarding the revenues, profit, capital structure,
or others are considered important for the
company;
160
10. Targets/projections tset by the Company at least

for the next one year, in terms of revenues,
income (loss), capital structure, dividend policy,
or others are considered important for the
company;
160
11. Marketing aspects of companys products and

services, includes:
1. Marketing strategy and
2. Market share;
134
12. Dividend policy and the dates and total dividend

per share (cash and/or non cash) and total
dividend per year declared and paid for the last
2 (two) years
Includes the description of:

1. Total dividend
2. Total dividend per share
3. Payout ratio
For each year
Note: if no dividend was paid, state the reason
161
Annual Report 2012
energy for life
526

Criteria
Description
Pages
13. Use of the proceeds from the public offering
1. In case for financial year, Issuers has an obligation to
report the realization of the use of funds, it must be
disclosed realization of the use of funds and proceeds
from cumulative public offering until the end of financial
year; and
2. In the event of changes inthe use of funds as stipulated
in Regulation Number X.K.4, then the Issuer must state
the changes
14 Material information, regarding investment,

expansion, divestment, business merger/
fusion, aquisition, restructuring of debt/capital,
affiliated transaction, and material transactions
involving a conflict of interest during the year
(if any)
1. Date, value, and object of transaction;
2. Name of party in transaction;
3. Nature of the affiliation (if any);
4. Clarification of the fairness of the transaction
5. Compliance with related provisions;
161-162
15. Changes in the regulations that significantly

affect the company and its impact on the
financial report (if any);
Description includes: changes in the regulations and their

impact on the company
Note: if there are no changes that have a significant impact,
this should be stated
162-163
16. Changes in accounting policy, reasons and its

impact on the financial report (if any)
Description includes: changes in accounting policy, reasons

and its impact on the financial report
161
163
VI. Good Corporate Governance

1. Description of the Board of Commissioners
1. Description of the duty of the Board of Commissioners
2. Procedure disclosure, basis for determining, and the
amount of remuneration of members of the Board of
Commissioners; and
3. Disclosure of companys policy and its implementation,
regarding the meeting frequency of the Board of
Commissioners, includes joint meeting with the Board of
Directors, and members attendance rate
4. Board of the Commissioners in the meeting;
172-175
2. Description of the Board of Directors
1. Scope of work and responsibilities of each member of the
Board of Directors;
2. Procedure disclosure, basis for determining, and the
amount of remuneration of members of the Board of
Directors, and relation between remuneration with
companys performance;
regarding frequency of Directors meeting, includes joint
meeting with the Board of Commissioners, and members
attendance rate at the meetings
4. Decision of GMS previous year and realizaiton in financial
year, and its reasons in the event there is a decision that
has not been realized; and
5. Disclosure of companys policy regarding the assessment
to the performance of members of the Board of Directors
(if any)
176-183
Annual Report 2012
energy for life
184-188
189-190
527

Criteria
Description
3. Description of Audit Committee
1. Names;
2. Positions, qualifications and work experience of the
committee members;
3. Education;
4. Period of office of the members of Audit Committee;
5. Disclosure of Audit Committees Independence;
regarding frequency of audit committee meetings and
attendance rate;
7. Brief report on activities of the audit committee
in financial year specified accordance in the Audit
Committee charter;
190-197
4. Other committee to support the functions and

duties of the Board of Directors and/or Board
of Commissioners, such as Nomination And
Remuneration Committee
1. Name;
2. Brief CVs, work experience, and legal basis for the
appointment;
3. Education;
4. Office period of the members of the committee;
5. Disclosure of companys policy regarding commitees
independence;
6. Description of duties and responsibilities;
7. Disclosure of companys policy and its implementation
regarding frequency of audit committee meetings and
attendance rate
8. Brief of the implementation of committees activities in
financial year;
198-203
5. Description of duties and function of Corporate

Secretary
1. Name;
2. Brief CV, work experience, and legal basis for
appointment;
3. Educational Background;
4. Office period of the Corporate Secretary
5. Brief of the implementation of the duties of the
Corporate Secretary in financial year;
204-205
6. Description of the Internal Audit Unit
1. Name;
2. Brief CV, work experience, and legal basis for appointed;
3. Professional internal audit qualifications/certification (if
any);
4. Structure or status of the Internal Audit Unit
5. Duties and responsibilities of Internal Audit Unit
accordance listed in the charter of Internal Audit Unit;
and
6. Brief of the implementation of the duties of the Internal
Audit Unit during the year;
208-211
7. Description of Internal Control System

implemented by the Company
1. Financial and operational controlling, and submission to
other laws and regulation; and
2. Review of the effectiveness of the internal control system
212
Page
Annual Report 2012
energy for life
528

Criteria
Description
Page
8. Risk Management System implemented by

Company
1. Overview of the Companys risk management system;
2. Type of risks and its management; and
3. Review of the effectiveness of the risk management
system
212-215
9. Significant cases involving the Company, or

Public Company, subsidiaries, or incumbent
members of the Board of Commissioners and/or
Board of Directors
1. Subject of cases/claims
2. Settlement status of cases/claims
3. Effect on the company
227-233
234
10. Information regarding administrative sanctions

imposed on issuers or public companies,
members of the Board of Commissioners and
the Board of Directors, by the capital market
regulators and other authorities during the
year;
11. Information regarding Corporates Code of
Conduct and Culture (if any)
1. Content of the code of conduct;
2. Content of corporate culture;
3. Dissemination of the code of conduct and efforts to
enforce the code;
4. Disclosure that the code of conduct is applicable to
the Board of Commissioners, Board of Directors and
corporates employee;
224
12. Description regarding share ownership program

by employee and/or management implemented
by Issuer or Public Companies, such as total,
period, requirements of eligible employees/
management, exercise price as well (if any)
13. Description regarding Whistleblowing System
implemented in the Company to handle reports
of misconduct or violation that could harm the
Company or stakeholders (if any)
216-223
1. Method of reporting;
2. Protection of the whistleblower;
3. Handling of reports;
4. Party that handles the reports;
5. Outcome of the reports
Annual Report 2012
226-227
energy for life
529

Description
Criteria
Page
VII. Corporate Social Responsibility

1. Environment, such as the use of materials and friendly
environmental energy and could be recycle, companys
waste management system, certificaion in environment, etc;
2. Employment practice, occupational safety and health, such
as the equality of gender and work opportunity, facilities
and safety, employees turnover rate, work incident rate,
training, etc;
3. Social and community development, such as the use of
local worker, community empowerment around companies,
improvement of social infrastructure, other form of
donations, etc; and
4. Products responsiblity, such as consumer safety and health,
products information, infrastructure, the amount and
countermeasures of consumers complaints, etc.
1. Discussion regarding corporate social

responsibility including policy, type of program,
costs incurred
240-248
249-273
274-285
286-295
N/A
2. Information referred to point (1) can be disclosed

and submitted to Bapepam-LK in the Annual
Report or separate report such as Sustainability
Report or Corporate Social Responsibility Report.
VIII. Audited Consolidated Financial Statements
299
1. Annual Financial statements included in the

Annual Report must be prepared in accordance
with the accounting standards in Indonesia that
have been audited by an Accountant. Financial
statements must include a statement regarding
the responsibility for the Financial Statements
as stipulated in the Regulation No. VIII.G.11 or
Regulation No. X.E.1.
2. Statement Letter from the Board of Directors
regarding the Board of Directors responsibility to
Compliance with Bapepam regulation-LK No.VIII.G.11 regarding

the Board of Directors Responsibility of the Financial Statements.
3. Opinion of Independent Auditor of Financial

Statements
299
301-303
4. Description of Independent Auditors opinion
1. Name & signature
2. Audit report date
3. License number of the Public Accountant Firm and license
number of the Public Accountant
5. Full Financial Statements
Includes all elements of the Financial Statements:

1. Balance sheet
2. Comprehensive income statement
3. Report on changes in equity
4. Cash flow statement
5. Notes to the financial statement
6. Financial position at the beginning of the comparative periods
presented if the company implemented an accounting
policy retrospectively or restated an account in the financial
statement, or if the company reclassified financial statement
accounts (if relevant)
Annual Report 2012
energy for life
303
304-305
306-307
308
309
310-517
304-305
530

Description
Criteria
Page
6. Disclosure in notes to the Financial Statement

when the company applies an accounting policy
retrospectively or restates an account in the
financial statement or reclassifies an account in the
financial statement
State whether or not there is disclosure according to SFAS
317-357
7. Comparison of profitability ratio
Comparison of profit (loss) in the current and previous years
306-307
8. Cash flow report
Should fulfill the following provisions:

1. Classification of activities into three categories: operating,
investing and financing
2. Use of the direct method to report cash flow from operating
activities
3. Separate presentation of cash income and/or expenditure
in the current year from operating, investing and financing
activities
4. Disclosure of non-cash activities in the notes to the financial
statement
309, 350,
508, 515
317
309,350,
508,515
331-333
9. Summary of accounting policy
Includes at least the following:

1. Statement of compliance with SFAS
2. Basis of measurement and presentation of the financial
statement
3. Recognition of income and expense
4. Fixed assets
5. Financial instruments
10. Disclosure of related party transactions
Items that must be disclosed:

1. Name(s) of related parties, and nature of relationship with
related parties
2. Value of transactions and percentage of total related income
and expense
3. Balance and percentage of total assets or liabilities
4. Terms and conditions of related party transactions
11. Disclosures related to Taxation

1. Explanation of the relationship between tax expense (income)
and accounting profit
2. Reconciliation between fiscal and current tax assessment
3. Statement that the reconciled taxable profit is the basis for the
annual corporate income tax return
4. Breakdown of deferred tax assets and liabilities recognized
in the balance sheet for each period presented, and total
deferred tax expense (income) recognized in the income
statement if such amount is not shown in the total deferred
tax assets or liabilities recognized in the financial statement
5. Disclosure of whether or not there are any tax disputes
403
12. Disclosure of Fixed Assets

1. Depreciation method used
2. Explanation of whether fair value model or cost model have
been adopted as accounting policy
3. Method and significant assumptions used in estimating the fair
value of fixed assets (revaluation model) or disclosing the fair
value of fixed assets (cost model)
4. Reconciliation of recorded gross amount and cumulative
depreciation of fixed assets at the beginning and end of the
period by showing addition, reduction and reclassification
317,335,
380,
381
Annual Report 2012
energy for life
317
335-338
340
335-338
355356,36,
424-426,
486-491
333,
439-445
531

Description
Criteria
Page
13. Recent Developments in Financial Accounting

Standards and Other Regulations
Description of FAS/regulations that have been issued but are not

yet effective, which have not been applied by the company,
stating:
1. Type and effective date of the new FAS/ regulations
2. Nature of the change that is not yet effective or the change in
accounting policy; and
3. Effect of initial application of the new AS and regulations on
14. Disclosure related to the Financial Instrument

1. Requirements, conditions and policies for each group of
financial instruments
2. Classification of financial instruments
3. Fair value of each group of financial instruments
4. Explanation of the risks related to the financial instruments:
market risk, credit risk and liquidity risk
5. Purpose and policy on financial risk management
332
486-491
478-486
Items to be disclosed include:

1. Date of authorization for the publication of the Financial
Statements; and
2. Party responsible for authorizing the Financial Statements
299
299,303
15. Publication of the Financial Statements
357
331
IX. Signature of the Board of Commissioners and the Board of Directors

Signature of the Board of Commissioners and the
Board of Directors
1. Signatures of the Board of Commissioners and Board of

Directors are on a separate sheet
2. Statement that the Board of Directors and Board of
Commissioners are fully responsible to the truthfulness of
the content of the Annual Report
3. Signed by all members of the Board of Commissioners
and the Board of Directors by mentioning their names and
positions
4. Written explanation in a separate letter from the concerned
member in the event of not signing the Annual Report, or;
written explanation in separate letter from other member
in the event the concerned member did not provide written
explanation
Annual Report 2012
energy for life
519
Glossary
532
Glossary
AMDAL
Abbreviation of Analisis Mengenai Dampak Lingkungan analysis of environment

impact, environment management plan and environment monitoring plan
Bapepam - LK
Abbreviation of Badan Pengawas Pasar Modal Lembaga Keuangan the Indonesian

Capital Market Supervisory Agency as denoted in Law No. 8 year 1995
BBL
Barrel, unit of volume usually used to measure oil. 1 barrel = 159 liters
BBM
Abbreviation of Bahan Bakar Minyak or petroleum-based fuel
BCF
Billion Cubic Feet, a unit of volume used to measure natural gas
BEI
Abbreviation of Bursa Efek Indonesia, the Indonesia Stock Exchange
BEJ
Abbreviation of Bursa Efek Jakarta, the Jakarta Stock Exchange
BES
Abbreviation of Bursa Efek Surabaya, the Surabaya Stock Exchange
BOE
Barrels of Oil Equivalent, is a unit which is used to convert natural gas unit to its equivalent
oil unit. (1 BOE = 6 MCF)
BP Migas
Abbreviation of Badan Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi, the
Upstream Oil and Gas Business regulator, a government agency that was established pursuant to the Oil and Gas Law juncto Government Regulation No 42 year 2002 to control
upstream activities in the oil and gas business
BPH Migas
Abbreviation of Badan Pengatur Hilir Minyak dan Gas Bumi, the regulator for Downstream Oil and Gas Business Activities. A government body that was established based on
Oil and Gas Law juncto Government Regulation No 67 year 2002 juncto Presidencial Decree
No 86 year 2002, to control and supervise supply and distribution of natural gas and its
transportation through pipelines in downstream business activity.
BSCF
Billion Standard Cubic Feet
BTU
British Thermal Unit, a caloric unit used to measure gas energy
BUMN
Abbreviation of Badan Usaha Milik Negara or State-Owned Enterprise as denoted in Law

No 19 year 2003.
CAGR
Compound Annual Growth Rate
CBM
Coal Bed Methane
CCGS
Company Corporate Governance Scorecard
CII
Customer Importance Index
CF
Cubic Feet, a volume unit used to measure natural gas 1CF = 0,028 m3
COSO
Committee of the Sponsoring Organizations of the Treadway Commission
CNG
Compressed Natural Gas
CRMP
Certified Risk Management Professional
CSC
Central Safety Committee
CSI
Customer Satisfaction Index
DAB#3
Dispute Adjudication Board #3
Distribution
Activity of natural gas distribution through pipelines
DMO
Domestic Market Obligations
DOH
Abbreviation of Daerah Operasi Hulu the upstream operation region
ECSC
Executive Central Safety Committee
Annual Report 2012
energy for life
Glossary
533
EIB
ESA
Employee Stock Allocation, a program airned to provide an opportunity to all employees to

own the Companys shares
FSRT
Floating Storage & Regasification Terminal
FSRU
Floating Storage & Regasification Unit
GMS
GRC
Governance, Risk Management and Compliance
GSA
Gas Sales Agreement
GTA
Gas Transportation Agreement
GSPA
Gas Sales and Purchase Agreement
Hilir Downstream
Business activities that are cored or based on production, transportation,

storage and/or commercial activities.
Hulu Upstream
Business activities that are cored or based on exploration and exploitation

activities.
IBRD
International Bank for Reconstruction and Development
IEA
International Energy Agency
IFRS
International Financial Reporting Standards
IPO
Initial Public Offering, a share offering to the public as stipulated in Law No 8 year
1994.
ISO
International Organization for Standardization
JBIC
Japan Bank for International Cooperation (Previously Export-Import Bank of Japan).
JCI
Jakarta Composite Index. An index of all stocks that are traded on the Indonesia Stock
Exchange
KSEI
PT Kustodian Sentra Efek Indonesia, the Indonesian Central Securities Depository.
LC
Letter of Credit, a payment method for export/import transactions
LHKPN
State Officials Wealth Report
LNG
Liquefied Natural Gas
LPEI
Indonesia Export Financing Institution
LPG
Liquefied Petroleum Gas, which consists of propane ad butane gas.
LTIF
Lost Time Injury Frequency
MCF
Million Cubic Feet
MMBBL
Million Barrels
MMBOE
Million Barrels of Oil Equivalent
MMBTU
Million British Thermal Units
MMBTUD
Million British Thermal Units per Day
MMSCF
Million Standard Cubic Feet, a standard unit for measuring gas volume which is adjusted to
a certain temperature and pressure which is equal to 1,000 MMBTU.
MMSCFD
Million Standard Cubic Feet Per Day
MRC
Multi Reporting Currency
MSCF
Thousand Standard Cubic Feet.
MSPA
Master Sale and Purchase Agreement
Annual Report 2012
energy for life
NAP
Network Access Provider
OHSAS
Occupational Health and Safety Management System
Oil and Gas Law No 22

year 2001
Law No 22 year 2001 of the Republic of Indonesia regarding Oil and Natural Gas
OJK
Indonesia Financial Service Authority
OSH & EM
Occupational Safety and Health & Environmental Management
Producer
Gas producer which has objective to produce oil and gas in certain area, which has activities
to find oil and gas reserves, drilling, refinery and other supporting activities.
PGNEF
PGN Euro Finance
PIA
Professional Internal Auditor
PMC
Project Management Consultant
POD
Plan Of Development
PPOB
Payment Point Online Bank
PSC
Production Sharing Contract in the exploration and exploitation of oil and gas
PSI
Pounds per Square Inch, a unit for measuring gas pressure. 1 bar = 14.5 PSI
QIA
Qualified Internal Auditor
RCA
Risk Containment Audit
RJPP
Rencana Jangka Panjang Perusahaan, or Corporate Long-Term Plan
RKAP
Rencana Kerja dan Anggaran Perusahaan, or Corporate Work Plan and Budget
ROEs
Regionally Owned Enterprises
ROV
Remotely Operated Underwater Vehicle
RUPS
Abbreviation of Rapat Umum Pemegang Saham General Meeting of Shareholders
RUPSLB
Abbreviation of Rapat Umum Pemegang Saham Luar Biasa or Extraordinary General

Meeting of Shareholders.
SBU
Strategic Business Unit
SER
Social and Environmental Responsibility
SME
Small or Medium Enterprise
SOE
State Owned Enterprise
TCF
Trillion Cubic Feet
TGI
PT Transportasi Gas Indonesia (Transgasindo), a subsidiary of the Company that is involved

in the gas transportation business. 59.75% of its share are owned by PGN.
Transmission
The transmission of gas from its source or storage place through a transmission pipeline.
TSAF
Total Sickness Absence Frequency
Annual Report 2012
energy for life
Graphic Design: Optima
534
Creative Consultants: David Laufer / Robert Roth
Glossary
2012
Annual Report

T +6221 633 4838
F +6221 633 3080
www.pgn.co.id
Contact Center
T 0800 1500 645
T +6221 633 3000
E contact.center@pgn.co.id
www.pgn.co.id


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2

PT Perusahaan Gas Negara (Persero) Tbk | IDX: PGAS

Adoption of USD reporting

Pagardewa Station, Palembang, South Sumatera

In 2012, PGN booked Operating Profit of USD1.02 billion,

TOTAL INCOME ATTRIBUTABLE

to the Parent Company of USD890.89 million

Key Performance 2012

Energy for Life

1 Highlights of 2012 Performance

Triple Bottom Line

2 Report to the Shareholders

PT Perusahaan Gas Negara (Persero) Tbk

113 PGNs Transformation

Laporan Tahunan 2012

energy for life

161 Material Information Regarding Investment,

6 Good Corporate Governance

Corporate Governance Structure

7 Corporate Social and

Scope and Funding of SER

Statement Letter of the

Bapepam-LK No. X.K.6 Year

25 Infographics of Triple Bottom Line

PT Perusahaan Gas Negara (Persero) Tbk

Laporan Tahunan 2012

energy for life

Energy for Life

Indonesias demand for electric power

PT Dalle Energy, Batam

Small- and medium-sized enterprises

Were heating up small and

Bundaran Hotel Indonesia, Jakarta

Not only is the Indonesian economy

Receiving station facility at Muara Bekasi, West Java

Were building the

Energy for Life

The world is moving

Global Economic Situation

PT Perusahaan Gas Negara (Persero) Tbk

Annual Report 2012

energy for life

Energy for Life

The world is moving

Current Development of Global Energy

needs and could potentially become a net exporter

Global energy demand is expected to grow by more

of liquefied natural gas by 2016 (financialtimes.com).

than one-third over the period to 2035, with China,

Despite concerns among some industrial energy users

India, and the Middle East accounting for 60% of the

and pending approval from the US Department of

increase (World Energy Outlook 2012). The global

Energy, this prospect would affect the worldwide

energy map is also changing, with potentially far-

energy landscape and accelerate globalization of the

reaching consequences for energy markets and trade.

natural gas market.

The movements and dynamics seen in 2012 represent