COWL Cowell Development Tbk.

COMPANY REPORT : JANUARY 2017 As of 31 January 2017

Development Board Individual Index : 834.615
Industry Sector : Property, Real Estate And Building Construction (6) Listed Shares : 4,871,214,021
Industry Sub Sector : Property And Real Estate (61) Market Capitalization : 5,285,267,212,785
148 | 5.29T | 0.09% | 91.25%

169 | 0.80T | 0.04% | 97.28%

COMPANY HISTORY SHAREHOLDERS (January 2017)

Established Date : 25-Mar-1981 1. PT Bank QNB Indonesia Tbk S/A PT Gama Nusapala 2,192,046,309 : 45.00%
Listing Date : 19-Dec-2007 2. PT Gama Nusapala 1,354,092,895 : 27.80%
Under Writer IPO : 3. Feral Investment Inc. 706,673,439 : 14.51%
PT Makinta Securities 4. Earvin Limited 395,470,500 : 8.12%
Securities Administration Bureau : 5. Public (<5%) 222,930,878 : 4.58%
PT Bima Registra
Graha MIR Building, 6th Fl. Zona A2 DIVIDEND ANNOUNCEMENT
Jln. Pemuda No. 9 Rawamangun, Jakarta Timur 13220 Bonus Cash Recording Payment
F/I
Phone : (021) 2956-9781 Year Shares Dividend Cum Date Ex Date Date Date
Fax : (021) 2956-9872 2007 2.00 03-Jun-08 04-Jun-08 09-Jun-08 20-Jun-08 F
2008 1.79 30-Jun-09 01-Jul-09 03-Jul-09 21-Jul-09 F
BOARD OF COMMISSIONERS 2009 2.72 15-Jul-10 16-Jul-10 20-Jul-10 03-Aug-10 F
1. Harijanto Thany 2011 4.41 20-Jul-12 23-Jul-12 25-Jul-12 08-Aug-12 F
2. I.B. Oka Nila *)
3. Thomas Pramono *) ISSUED HISTORY
4. Wahyu Hartanto Listing Trading
*) Independent Commissioners No. Type of Listing Shares Date Date
1. First Issue 250,000,000 19-Dec-07 19-Dec-07
BOARD OF DIRECTORS 2. Company Listing 500,000,000 19-Dec-07 18-Aug-08
1. Edhi Sutanto 3. Warrant I 135,500 03-Jul-08 03-Jul-08
2. Darwin Fernandes Manurung 4. Warrant I 75,000 11-Jul-08 11-Jul-08
3. Ratna Sari 5. Warrant I 844,500 21-Jul-08 21-Jul-08
4. Siti Inda Suri 6. Warrant I 1,719,500 25-Jul-08 25-Jul-08
7. Warrant I 500,000 31-Jul-08 31-Jul-08
AUDIT COMMITTEE 8. Warrant I 160,000 04-Aug-08 04-Aug-08
1. I.B. Oka Nila 9. Warrant I 625,000 07-Aug-08 07-Aug-08
2. Hendra Sujana 10. Warrant I 25,000 12-Aug-08 12-Aug-08
3. Jatmiko Bowo Laksono 11. Warrant I 250,000 19-Aug-08 19-Aug-08
12. Warrant I 25,900 01-Sep-08 01-Sep-08
CORPORATE SECRETARY 13. Warrant I 500 18-Sep-08 18-Sep-08
Darwin Fernandes Manurung 14. Warrant I 15,000 17-Oct-08 17-Oct-08
15. Warrant I 389 13-Dec-10 13-Dec-10
HEAD OFFICE 16. Warrant I 850,691 28-Dec-10 28-Dec-10
Graha Atrium 3rd Fl. 17. Right Issues I 4,115,987,041 19-Dec-12 19-Dec-12
Jln. Senen Raya No. 135
Jakarta 10410
Phone : (021) 386-7868
Fax : (021) 386-2919

Homepage :
Email : corsec@cowelldev.com
alfian.sugita@cowelldev.com
gergorius.satria@cowelldev.com
 COWL Cowell Development Tbk.
TRADING ACTIVITIES
Closing Price* and Trading Volume
Cowell Development Tbk. Closing Price Freq. Volume Value

Day
Closing Volume
Price* January 2013 - January 2017 (Mill. Sh) Month High Low Close (X) (Thou. Sh.) (Million Rp)
1,200 640 Jan-13 177 143 161 6,399 96,350 15,777 21
Feb-13 184 157 176 7,140 189,247 32,654 20
1,050 560 Mar-13 220 172 200 21,809 548,334 109,944 19
Apr-13 230 191 200 22,595 565,726 118,743 22
May-13 280 200 270 38,865 492,657 116,224 22
900 480
Jun-13 315 260 270 15,961 210,380 61,240 19
Jul-13 310 265 305 16,196 266,383 75,545 23
750 400
Aug-13 315 275 290 10,044 158,850 47,101 17
Sep-13 320 270 315 11,774 604,884 147,553 21
600 320
Oct-13 420 315 395 27,639 439,018 167,267 21
Nov-13 435 390 405 9,266 192,352 79,124 20
450 240 Dec-13 490 405 470 24,247 447,067 204,509 19

300 160 Jan-14 498 452 465 42,557 321,599 152,356 20

Feb-14 535 440 520 54,804 438,325 216,535 20
150 80 Mar-14 565 499 555 66,042 490,347 263,671 20
Apr-14 605 540 585 53,336 400,293 224,765 20
May-14 610 560 580 52,361 382,836 223,710 18
Jun-14 625 560 585 60,823 506,956 299,178 21
Jan-13 Jan-14 Jan-15 Jan-16 Jan-17
Jul-14 605 560 585 28,794 374,525 218,371 18
Aug-14 600 560 575 34,579 403,620 233,518 20
Sep-14 620 555 615 42,457 448,484 263,391 22
Closing Price*, Jakarta Composite Index (IHSG) and Oct-14 660 560 565 49,116 460,106 280,962 23
Property, Real Estate and Bulding Construction Index Nov-14 580 540 560 30,706 354,681 199,570 20
January 2013 - January 2017 Dec-14 640 560 625 30,458 416,933 255,244 20
665%
638.1%
Jan-15 655 585 625 26,467 348,148 216,259 21
570% Feb-15 640 615 625 11,658 293,794 184,680 19
Mar-15 655 615 655 9,066 896,672 472,480 22
475% Apr-15 710 545 560 15,485 335,735 209,589 21
May-15 605 550 570 11,905 211,938 121,350 19
380% Jun-15 615 550 615 8,149 140,694 80,701 21
Jul-15 630 590 610 6,777 100,480 60,960 19
Aug-15 645 590 630 5,113 70,116 43,304 20
285%
Sep-15 630 585 595 3,364 36,221 22,153 21
Oct-15 615 590 600 4,568 26,618 16,042 21
190%
Nov-15 605 585 585 3,763 24,623 14,832 21
Dec-15 605 575 600 3,447 136,008 58,290 19
95%
59.7%
Jan-16 605 580 590 3,454 21,700 12,854 20
21.8%
- Feb-16 605 580 600 4,385 37,421 22,060 20
Mar-16 610 595 610 6,364 96,176 54,787 21
-95% Apr-16 615 585 590 6,808 137,410 62,215 21
Jan 13 Jan 14 Jan 15 Jan 16 Jan 17 May-16 595 580 590 5,675 45,461 26,695 20
Jun-16 730 575 720 10,742 129,515 86,461 22
Jul-16 755 720 755 9,278 49,853 36,737 16
SHARES TRADED 2013 2014 2015 2016 Jan-17 Aug-16 980 740 975 10,378 77,298 68,166 22
Volume (Million Sh.) 4,211 4,999 2,621 1,016 48 Sep-16 990 930 960 10,098 81,080 77,448 21
Value (Billion Rp) 1,176 2,831 1,501 757 52 Oct-16 1,115 955 1,020 17,103 89,679 90,127 21
Frequency (Thou. X) 212 546 110 112 9 Nov-16 1,080 1,020 1,040 19,325 96,033 100,770 22
Days 244 242 244 246 21 Dec-16 1,095 1,035 1,085 8,581 153,935 118,790 20

Price (Rupiah) Jan-17 1,100 1,035 1,085 9,456 48,475 52,449 21

High 490 660 710 1,115 1,100
Low 143 440 545 575 1,035
Close 470 625 600 1,085 1,085
Close* 470 625 600 1,085 1,085

PER (X) 47.01 152.00 -16.35 107.05 107.05

PER Industry (X) 9.57 16.29 13.36 24.89 28.26
PBV (X) 1.94 2.54 2.49 4.20 4.20
* Adjusted price after corporate action
 COWL Cowell Development Tbk.
Financial Data and Ratios Book End : December
Public Accountant : Teramihardja, Pradhono & Chandra (Member of Rodl & Partner)

BALANCE SHEET Dec-12 Dec-13 Dec-14 Dec-15 Sep-16 TOTAL ASSETS AND LIABILITIES (Bill. Rp)
(Million Rp except Par Value) Assets Liabilities
Cash & Cash Equivalents 290,322 28,297 262,826 49,381 12,559 3,750

Receivables 79,839 122,311 147,774 23,121 46,655

3,000

Inventories 18,105 21,422 28,663 468,109 591,662

2,250
Investment 50,607 331,025 605,027 641,758 642,988
Fixed Assets 341,870 355,153 357,051 398,436 391,910
1,500
Other Assets 145,371 191,698 213,929 193,628 198,481
Total Assets 1,778,429 1,944,914 3,682,393 3,540,586 3,640,883
750
Growth (%) 9.36% 89.33% -3.85% 2.83%
-
Trade Payable 32,856 9,798 46,314 85,307 97,064 2012 2013 2014 2015 Sep-16
Total Liabilities 644,554 762,327 2,334,407 2,366,447 2,382,757
Growth (%) 18.27% 206.22% 1.37% 0.69%
TOTAL EQUITY (Bill. Rp)
Minority Interest - - - - - 1,348
Authorized Capital 1,800,000 1,800,000 1,800,000 1,800,000 1,800,000 1,258
1,183 1,174
1,348

1,134
Paid up Capital 487,121 487,121 487,121 487,121 487,121
Paid up Capital (Shares) 4,871 4,871 4,871 4,871 4,871
1,073

Par Value 100 100 100 100 100

145,705 194,408 359,798 185,829 237,390
798

Retained Earnings
Total Equity 1,133,875 1,182,587 1,347,987 1,174,139 1,258,126 523

Growth (%) 4.30% 13.99% -12.90% 7.15%

248

INCOME STATEMENTS Dec-12 Dec-13 Dec-14 Dec-15 Sep-16

Total Revenues 311,479 330,837 566,386 583,330 370,628
-27

2012 2013 2014 2015 Sep-16

Growth (%) 6.21% 71.20% 2.99%

Cost of Revenues 170,164 134,880 232,913 201,531 140,844

TOTAL REVENUES (Bill. Rp)
Gross Profit 141,316 195,957 333,472 381,798 229,784
Operating Expenses 56,026 119,345 138,626 519,397 123,284 566 583

Operating Profit - - 194,846 -137,599 106,501

583

Growth (%) N/A 464

371
331
Other Income (Expenses) - - 11,995 - -41,878 345
311

Income before Tax 85,289 76,612 206,840 -137,599 64,623

Tax 15,614 27,900 41,443 41,094 27,552 226

Profit for the period 69,675 48,712 165,397 -178,692 37,072

Growth (%) -30.09% 239.54% N/A
107

-12

Period Attributable 69,675 48,702 165,391 -178,714 37,029 2012 2013 2014 2015 Sep-16
Comprehensive Income 69,675 48,712 165,397 -174,809 37,072
Comprehensive Attributable - 48,702 165,391 -174,832 37,072
PROFIT FOR THE PERIOD (Bill. Rp)
RATIOS Dec-12 Dec-13 Dec-14 Dec-15 Sep-16 165
Dividend (Rp) - - - - - 165

EPS (Rp) 14.30 10.00 33.95 -36.68 7.61

BV (Rp) 232.77 242.77 276.72 241.04 258.28 97
70
49
37
DAR (X) 0.36 0.39 0.63 0.67 0.65
2015
DER(X) 0.57 0.64 1.73 2.02 1.89
28

ROA (%) 3.92 2.50 4.49 -5.05 1.02 -41 2012 2013 2014 Sep-16
ROE (%) 6.14 4.12 12.27 -15.22 2.95
GPM (%) 45.37 59.23 58.88 65.45 62.00 -110

OPM (%) - - 34.40 -23.59 28.74

NPM (%) 22.37 14.72 29.20 -30.63 10.00
-179

-179
Payout Ratio (%) - - - - -
Yield (%) - - - - -