PT Asahimas Flat Glass Tbk.

Plastics and Glass Products

Head Office Jl. Ancol IX/5, Ancol Barat, Jakarta 14430 Summary of Financial Statement
Phone (021) 690-4041, Fax (021) 690-4128
E-mail : corp-secretary@amfg.co.id (Million Rupiah)
Webesite: www.amfg.co.id 2011 2012 2013
Factories - Desa Tanjung Sari, Kec. Taman
Total Assets 2,690,595 3,115,421 3,539,393
Sidoarjo 61257, Jawa Timur
Current Assets 1,473,425 1,658,468 1,980,116
Phone (031) 788-2383, 788-2135
of which
Fax (031) 788-2842, 788-2149
Cash and cash equivalents 586,851 648,021 861,619
- Bukit Indah Industrial Park Sektor I A Blok J-L
Trade receivables 256,979 287,845 378,342
Karawang, Jawa Barat
Inventories 594,380 671,664 689,093
Phone (0264) 351-711; Fax (0264) 351-710
Non-Current Assets 1,217,170 1,456,953 1,559,277
Business Manufacturer of sheet glass and safety glass
of which
Company Status PMA
Fixed Assets-Net 1,152,779 1,384,995 1,478,147
Financial Performance: The company booked net profit at Deffered Tax Assets 37,449 45,231 50,154
Investments 1,490 1,575 1,575
IDR338 billion, increased slightly compared to 2012 which booked net
Other Assets 25,452 25,152 29,401
profit at IDR 346 billion.
Brief History: The Company is a Foreign Investment Company Liabilities 545,395 658,332 778,666
(PMA), which formed in 1971 between Asahi Glass Co. Ltd. of Japan, Current Liabilities 333,132 426,669 473,960
the worlds foremost glass producer, and PT Rodamas Co. Ltd., a lead- of which
ing Indonesian private business group that has interest in industrial and Bank loans n.a n.a n.a
consumer products. The idea to merge Asahi Glass technical exper- Trade payables 240,139 239,008 281,500
Accrued Expenses 62,330 63,635 93,349
tise and technology, and Rodamas strong grasp of the local market is
Non-Current Liabilities 212,263 231,663 304,706
a good strategic of partnership that makes Asahimas the glass pioneer
in this country. Shareholders' Equity 2,145,200 2,457,089 2,760,727
Asahimas commenced its glass manufacturing in April 1973, Paid-up capital 217,000 217,000 217,000
from simple clear glass produced using the traditional Foucault Pro- Paid-up capital
cess. Therefore, its product line was quickly diversified to include new, in excess of par value 165,083 165,083 165,083
innovative products such as Specialty Glass, Safety Glass, Reflective Retained earnings 1,763,117 2,075,006 2,378,644

Glass and Mirror. In 1975 the Company first began construction of its
Net Sales 2,596,271 2,857,310 3,216,480
Safety Glass factory and immediately began the commercial produc-
Cost of Goods Sold 1,919,036 2,137,698 2,488,570
tion using Tempering Process in 1976. In the same year, Asahimas also Gross Profit 677,235 719,612 727,910
built the 2nd Furnace for Flat Glass in Jakarta and start on its com- Operating Expenses 244,499 270,992 298,535
mercial production in 1977. In 1981, Asahimas introduced the Float Operating Profit 432,736 448,620 429,375
Glass technology in its new, 3rd Furnace in Jakarta, which was the Other Income (Expenses) 13,925 15,192 21,378
Companys 1st Float Line. In the mean time, Asahimas closed its 2nd Profit (Loss) before Taxes 446,661 463,812 450,753
Comprehensive Profit (Loss) 336,995 346,609 338,358
Furnace using the Foucault Process in the year 1983. In 1985 Asahimas
also began construction of its 4th Furnace (2nd Float Line) in Surabaya
Per Share Data (Rp)
factory, which would later begin commercial production in 1987. The Earnings (Loss) per Share 776 799 780
Company then built its 5th Furnace (3rd Float Line) and 6th Furnace Equity per Share 4,943 5,661 6,361
(4th Float Line) in 1990 and 1996, which started its commercial opera- Dividend per Share 80 80 80
tion in 1993 and 1997 respectively. The former Furnace is located in Closing Price 6,550 8,300 7,000
Jakarta, while the latter in Surabaya.
Financial Ratios
1985 was also an essential year for the Safety Glass ensuing the
PER (x) 8.44 10.39 8.98
introduction of the new Safety Glass laminating process. As a follow-
PBV (x) 1.33 1.47 1.10
up action to this new technology, Asahimas then began construction Dividend Payout (%) n.a 10.02 n.a
of new Laminated Glass production line in 1994, which is the same Dividend Yield (%) n.a 0.96 n.a
year with the closing of the 1st Furnace using the Foucault Process.
And during 1997, Asahimas started the first phase in development of Current Ratio (x) 4.42 3.89 4.18
its Safety Glass factory in Bukit Indah Industrial Park, Cikampek, West Debt to Equity (x) 0.25 0.27 0.28
Leverage Ratio (x) 0.20 0.21 0.22
Java, which later commence its commercial production in 1999.
Gross Profit Margin (x) 0.26 0.25 0.23
These days, Asahimas increases an aggregate installed produc-
Operating Profit Margin (x) 0.17 0.16 0.13
tion capacity of 570,000 tons for Flat Glass, 4,500,000 square meters Net Profit Margin (x) 0.13 0.12 0.11
for Safety Glass and 2,400,000 square meters for mirror. This large Inventory Turnover (x) 3.23 3.18 3.61
number of annual capacity ranks Asahimas not only as the largest glass Total Assets Turnover (x) 0.96 0.92 0.91
manufacturer in Indonesia but also in Southeast Asia. ROI (%) 12.52 11.13 9.56
ROE (%) 15.71 14.11 12.26
Shareholders
Asahi Glass Co. Ltd. (Japan) 43.86% PER = 6,56x ; PBV = 1,09x (June 2014)
Financial Year: December 31
PT Rodamas Co. Ltd. (Indo) 40.84% Public Accountant: Sidharta & Wijaya
Public 15.30%

314 Indonesian Capital Market Directory 2014

PT Asahimas Flat Glass Tbk. Plastics and Glass Products

Board of Commissioners Board of Directors

President Commissioner Tan Pei Ling
Vice President Commissioner Kimikazu Ichikawa
Commissioners Benjamin Subrata, Takeo Takei,
Andi Purnomo, Hideya Tanaka
President Director Mampei Chiyoda
Vice President Director Tjahjana Setiadhi
Directors Naomasa Taniguchi, Mitsuhiro Yoshikado,
Yoshiki Inoue, Prasetyo Aji, Yasushi Kawamoto,
E. David Satria Soetedja, Tjio Ferry Susanto,
Tatsuo Sugiyama, Rusli Pranadi

Number of Employees 2,822

No Type of Listing Listing Date Trading Date Number of Shares Total Listed
per Listing Shares
1 First Issue 08-Nov-95 08-Nov-95 86,000,000 86,000,000
2 Company Listing 08-Nov-95 18-Jun-96 201,000,000 287,000,000
3 Company Listing 18-Dec-00 18-Dec-00 147,000,000 434,000,000

Underwriters
PT Mega Capital Indonesia (d/h Indovest Securities), PT Danareksa Sekuritas

Stock Price, Frequency, Trading Days, Number and Value of Shares Traded and Market Capitalization
Stock Price Shares Traded Trading Listed Market
Month High Low Close Volume Value Frequency Day Shares Capitalization
(Rp) (Rp) (Rp) (Thousand Shares) (Rp Million) (Rp Million)
January-13 8,650 7,550 8,150 2,262.00 18,314.00 490 21 434,000,000 3,537,100.00
February-13 8,450 7,800 8,050 579.00 4,650.00 254 19 434,000,000 3,493,700.00
March-13 9,000 7,950 8,800 1,593.00 13,547.00 477 18 434,000,000 3,819,200.00
April-13 9,000 7,900 8,400 636.00 5,459.00 219 20 434,000,000 3,645,600.00
May-13 8,950 7,400 7,400 1,313.00 10,460.00 749 21 434,000,000 3,211,600.00
June-13 8,350 6,700 8,350 453.00 3,445.00 359 19 434,000,000 3,623,900.00
July-13 8,350 7,350 7,900 365.00 2,887.00 313 21 434,000,000 3,428,600.00
August-13 8,300 7,150 7,400 363.00 2,820.00 314 15 434,000,000 3,211,600.00
September-13 8,150 7,000 8,100 556.00 4,241.00 349 21 434,000,000 3,515,400.00
October-13 8,400 7,700 8,250 552.00 4,510.00 235 19 434,000,000 3,580,500.00
November-13 8,200 6,250 6,850 1,103.00 7,514.00 775 20 434,000,000 2,972,900.00
December-13 7,000 6,400 7,000 1,441.00 9,523.00 286 17 434,000,000 3,038,000.00
January-14 7,100 6,425 7,100 61.00 427.00 60 12 434,000,000 3,081,400.00
February-14 7,075 6,750 7,000 217.00 1,504.00 118 16 434,000,000 3,038,000.00
March-14 7,100 6,750 7,100 297.00 2,072.00 132 13 434,000,000 3,081,400.00
April-14 7,300 6,800 7,000 134.00 940.00 147 17 434,000,000 3,038,000.00
May-14 7,200 6,775 6,975 156.00 1,095.00 127 17 434,000,000 3,027,150.00
June-14 7,200 6,700 7,150 155.00 1,084.00 213 14 434,000,000 3,103,100.00

Stock Price and Traded Chart

Stock Price (Rp) Thousand Shares
10,000 250

9,000

8,000 200

7,000

6,000 150

5,000

4,000 100

3,000

2,000 50

1,000

- -
Jan-13 Mar-13 May-13 Jul-13 Sep-13 Nov-13 Jan-14 Mar-14 May-14

Institute for Economic and Financial Research 315