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ANNUAL REPORT 2011

ANNUAL REPORT 2011ekonid.com/AR/AR2011/files/assets/common/downloads/...Yayasan Mitra Indonesia-Jerman• Taman Ade Irma Suryani Nasution No. 15, Surabaya Phone : +62 31 534-3735,

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Page 1: ANNUAL REPORT 2011ekonid.com/AR/AR2011/files/assets/common/downloads/...Yayasan Mitra Indonesia-Jerman• Taman Ade Irma Suryani Nasution No. 15, Surabaya Phone : +62 31 534-3735,

ANNUAL REPORT 2011

Page 2: ANNUAL REPORT 2011ekonid.com/AR/AR2011/files/assets/common/downloads/...Yayasan Mitra Indonesia-Jerman• Taman Ade Irma Suryani Nasution No. 15, Surabaya Phone : +62 31 534-3735,

VISION We continuously want to improve our company-network- and service activities. Furthermore, we wantto be a respected partner for all business related fieldsand the German and Indonesian society as a whole tobe an important link for trade and investments to bothcountries.

EKONID promotes bilateral economical relations aimingto secure sustainable trade and investment betweenthe two countries.

MISSION

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EKONID ANNUAL REPORT 2011

TABLE OF CONTENTS

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6

8

9

10

14

18

26

27

28

29

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Message from the Chairman of the Board & the Managing Director

The AHK Network

Board of Directors 2011

Our People

Organigram & Division Reports

Event Calendar

Highlights

Membership Report

Membership Anniversaries

Member Visit Program 2011

Premium Partner

Financial Report

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EKONID ANNUAL REPORT 2011

For EKONID, 2011 was exciting and extraordinary; this report gives a brief overview of the main activities throughout the year.

The Indonesian – German economic relationship thrived in 2011, the bilateral trade volume grew y-o-y by estimated 10 percent to almost five point five (5.5) billion Euro, making Germany once again the biggest trading partner of Indonesia in Europe, while German foreign direct investments reached estimated USD 200 Million.

Six business and approximately fifteen political delegations visiting Indonesia in 2011 are indicating an increasing interest in bilateral cooperation, not seen in the last 15

Dear EKONID Members,

years after Indonesia’s successful democratic transformation. EKONID continued to support companies looking to do business and contributed to bilateral business promotion with its participation in eight events in Germany and four within Southeast Asia.

Our social and networking events took place throughout the year; with EKONID’s classics, like Get Together, Grünkohlessen, Spargelessen, and the Summer Party as well as joint events with partners like the Indonesian German Circle (IGC) for example jointly hosting CIMB NIAGA President Director, Arwin Rasyid.

A whole new dimension of event cooperation was archived in 2011 by the German Embassy,

MESSAGE FROM THE CHAIRMAN OF THE BOARD AND THE MANAGING DIRECTOR

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EKONID ANNUAL REPORT 2011

Ari SoemarnoChairman of the Board

the Goethe-Institut and EKONID, when they launched together with other institutional and corporate partners JERIN – Jerman dan Indonesia – a series of approximately 30 events in 2011 ranging from culture to business, from science film festival to biomass technology conference all highlighting the wide range of activities of Germany in Indonesia.

Program related events were the Biomass Conference in October, with more the 200 Indonesian companies, jointly organized by EKONID with the GIZ. The so-called AAA-Conference, a bi-yearly organized regional conference hosted in 2011 by EKONID of the German chamber network with its German partner organizations, participated

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EKONID ANNUAL REPORT 2011

by around 40 delegates namely all Managing Directors from the German Chambers of Commerce of Asia, Asia-Pacific and Africa (AAA) as well as the Vice Managing Director of DIHK, and some more high level delegates from BDI, Ministry of Economics and Technology (BMWi), Ministry of Foreign Affairs (AA), GTAI and VDMA.

This event was followed by the first regional dialog between the German organizations for trade and investment promotion, like EKONID, and the organizations involved in development cooperation, like GIZ and KfW, signaling the ever closer cooperation between those two important aspects of German foreign relation with its partner countries.

MESSAGE FROM THE CHAIRMAN OF THE BOARD AND THE MANAGING DIRECTOR

Together with the European chambers and the Indonesian Chamber of Commerce and Industry (KADIN), EKONID organized on May 5th the first European-ASEAN Business Summit (EABS) in 2011. This event presented many prominent speakers, including H.E. Susilo Bambang Yudhoyono, H.E. Hatta Rajasa, Coordinating Minister of Economy, H.E. Mari Pangestu, (former) Minister of Trade, and the European Commisioner for Trade, Karel De Gucht as well as H.E. Dr. Surin Pitsuwan, Secretary General of ASEAN.

The event highlight of the year was the official state visit in December of the German Head of State, H. E. Christian Wulff, when EKONID had the honor to host a luncheon with the President.

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EKONID ANNUAL REPORT 2011EKONID ANNUAL REPORT 2011

Jan RönnfeldManaging Director

In term of strategic cooperation, the partnership between EKONID and the Goethe Institute, jointly implementing a Yayasan in Surabaya to promote bilateral cultural and economic ties, should be mentioned, as well as the ever closer cooperation of all European Chambers of Commerce.

Our sincere appreciation is dedicated to all our members, partners and clients, who have made EKONID’s success possible through their continued and generous endorsement. This support, combined with the dedication of our highly motivated team, give us the confidence to master the challenges and opportunities ahead of us.

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EKONID ANNUAL REPORT 2011

THE AHK NETWORK: Building Bridges To and From Germany

OFFICES IN COUNTRIES

12080

of reliable and trustworthy partners

For many years, EKONID and the worldwide network of AHK offices have represented reliable and trustworthy partners for corporate entry into foreign markets. The AHKs now offer network cooperation under the brand name DEinternational. With 120 locations in 80 countries, we provide joint services for German companies, which are planning business abroad or are already represented in foreign markets.

For our members, DEinternational means uniformity of services, comparable offers and excellent advice wherever they are, whatever their market is. DEinternational operates with full cross-border collaboration and cooperation, making full use of the whole network and entering the markets of a whole region with the assistance of just one contact partner and at conditions which are fully tailored to the needs of small and medium-sized enterprises.

The basic services include: address research, market entry support and market information as well as legal information, debt collection services and VAT refund services. Special services are provided on the one hand according to the specific circumstances prevailing in the host country and on the other hand adjusted to the respective requirements of the companies. Annually, we answer about 500,000 enquiries for specific business information, establish 400,000 business contacts and organize 3,300 entrepreneur meetings, congresses and seminars in which 165,000 people take part.

Our Berlin Head Office

Situated in the Central Business District (CBD) of Indonesia’s capital Jakarta, EKONID has enjoyed many years of strategic existence within the German-Indonesian trade and investment interchange.

For our members, EKONID’s head office serves as a meeting place and info center, as well as the central-point to address inquiries and seek advice. For the EKONID Team, the head office is the working hub, where staff prepares delegation visits, conducts studies, implements projects, promotes trade fairs and provides services for members and clients alike.

Housing more than 60 dedicated employees, EKONID also provides the working space for projects such as the Clean Batik Initiative, an implementation body for the sustainable production and consumption for the Indonesian batik industry from the European-Union’s SWITCH-Asia program as well as JERIN, an interactive project platform covering events ranging from culture to business, science to education, and politics to the environment organized in cooperation with the German Embassy in Jakarta and the Goethe-Institut.

Also represented in the building is Germany Trade and Invest (GTAI), the foreign trade and inward investment agency of the Federal Republic of Germany. GTAI promotes Germany as a business and technology location for investment and supports companies based in Germany with market information.

Our Jakarta Office

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DIHK BERLIN

SURABAYA OFFICEJAKARTA OFFICE

In Surabaya, Indonesia’s second largest city located in the east of Java, EKONID is now represented at the “Wisma Jerman” (German House). Wisma Jerman is a unique worldwide cooperation of the Goethe-Institut and the German Chamber of Commerce and Industry. Supported by the German Embassy, Wisma Jerman supports cultural and economic events as well as networking. Furthermore, Wisma Jerman promotes the German language in Indonesia by offering courses to interested students.

EKONID Surabaya OfficeMrs. Brigitt Steffan • Wisma JermanYayasan Mitra Indonesia-Jerman• Taman Ade Irma Suryani Nasution No. 15, SurabayaPhone : +62 31 534-3735, 534-3736

Our Surabaya Office

AHK-ASEAN Contact Point Germanyc/o IHK Frankfurt am MainBörsenplatz 4 • 60313 Frankfurt am MainPhone : +49 69 2197-1271

Our Frankfurt Contact Point

The DIHK-Sequa-Project, which was completed in April 2011, was also located at EKONID, a partnership program between the German DIHK and the Indonesian Chamber of Commerce and Industry (KADIN) to strengthen local partner’s ability (to represent the interests of the private sector and to offer services to small and medium-sized enterprises).

FRANKFURT CONTACT POINT

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EKONID ANNUAL REPORT 2011

BOARD OF DIRECTOR 2011

ARI SOEMARNOChairman

HANNS J. HAUPTMANN EDUARD EDDY SUGIRI GUNADI SINDHUWINATA, Dr. -Ing

HANS PETER HAESSLEIN, Dipl. -IngVice Chairman

PLACE / DATE OF BIRTH:Yogyakarta / December 14, 1949

PLACE / DATE OF BIRTH:Hanover, Germany / April 14, 1960

PLACE / DATE OF BIRTH:Bandung / February 28, 1952

PLACE / DATE OF BIRTH:Semarang / November 2, 1947

PLACE / DATE OF BIRTH:Ansbach, Germany / December 7, 1947

EDUCATION:Technical University (Rheinisch Westfalische Techinsche Hochschule) Aachen, Germany, majoring in Process Engineering (1977)

EDUCATION:Rhenus AG Cologne, Business Development Executive & Internal Education Program of Stinnes AG (1983 - 1984)

EDUCATION:Technical University (Rheinisch Westfalische Techinsche Hochschule) Aachen, Germany, majoring in Architecture

EDUCATION:University of Stuttgart, Germany - Doctor - Inginiuer

EDUCATION:Engineering Degree from the University of Siegen, Germany

PROFESSIONAL CAREER:March 2006 - present:Oil & Gas Business ConsultantMarch 2006 - February 2009:President & CEO of PT. Pertamina (Persero)

PROFESSIONAL CAREER:1996 - 2003:Division Manager Schenker Asia Pacific Regional HQ, Singapore2004 - present:President Director PT. Schenker Petrolog Utama, Jakarta, Indonesia

PROFESSIONAL CAREER:Board Advisor of PT. Sigma Cipta CarakaChairman of PT. Hasta Krida Utama

PROFESSIONAL CAREER:2002 - present:President Director, PT. Indomobil Sukses Internasional, Tbk.2011 - present:Commisioner, PT. Indomobil Sukses Internasional, Tbk.

PROFESSIONAL CAREER:President Director and CEO of PT. Siemens IndonesiaVarious positions for Siemens in Germany, Philippines, USA and Australia

RUDI BORGENHEIMERTreasurer

PLACE / DATE OF BIRTH:Weinheim, Germany / April 4, 1954

EDUCATION:Master Degree in Economics, University of Mannheim, Germany

PROFESSIONAL CAREER:September 2011 - present: ConsultantSeptember 2006 - September 2011:President Director of Mercedes-Benz Indonesia2005 - 2006:Vice President of Finance & Operation Smart

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EKONID ANNUAL REPORT 2011

OUR PEOPLE

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EKONID ANNUAL REPORT 2011

ORGANIGRAM & DIVISION REPORTS

The fast growing Indonesian economy appears more and more appealing to European businesses and the Business Development department coped in 2011 with an increasing number of enquiries from German companies willing to expand their business activities in Indonesia.

The Business Development department provided those companies with the necessary market entry information, helped them in finding potential business partners and assisted them in developing their projects. Its range of proposed services went from market research to business partner search, organization and assistance in business meetings, product presentation and workshops.

In 2011, the Business Development department welcomed six business delegations specialized in different sectors of activities: mining but as well machinery or chemicals. A special focus was given to the field of environment and renewable energies. The BD department hosted and organized a delegation composed of businesses specialized in waste

BUSINESS DEVELOPMENTCharging your business

management in October. At the same time, an in-depth market study of the biomass sector was conducted, leading to the visit of 8 German companies to Indonesia and a conference attended by 350 participants.

Further to those business delegations, the Business Development department organized partners’ search for numerous visiting individual companies. Besides the B2B meetings, BD provided market entry information either through workshops’ format or market studies.

Not only does the Business Development department assist the German companies, but it provides as well the necessary information to the Indonesian ones, members or non members. Furthermore, in 2011, several workshops and country presentations were organized in Germany in order to promote Indonesia.

The Business Development department achieved as well the second year of the Clean Batik Initiative. In action in two new provinces and cities (Cirebon in West Java and Pekalongan in Central Java), CBI has successfully assisted an additional 202 batik SMEs in implementing cleaner production practices.

MANAGEMENT

PUBLIC RELATIONS SECRETARIAT

FINANCEBUSINESS DEVELOPMENTCORPORATE SERVICES

SERVICE POOL

MEMBERSHIP & EVENT

HR & GA

CORPORATE SERVICES

TRAINING & EDUCATION

TRADE FAIRS

PROJECTS

DESIGN & COMMUNICATION

TRADE & COOPERATION

TAX

ACCOUNTING

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EKONID ANNUAL REPORT 2011

EKONID’s Corporate Services department specializes in providing support for clients on the regulatory and legal framework for investments in Germany and Indonesia. As a result of an extended service range and a significant increase in inquiries regarding Indonesia’s investment climate, the department experienced a considerable increase in turnover of 60% in 2011. In this way the Corporate Services Department successfully continued its support for both existing and new clients.

A strong focus was on the establishment of foreign investment companies and company restructuring, including supplying documents for conversions, mergers and splits, as well as support with capital increases and transfer of shares. In 2011, also the assistance to companies to obtain the respective import licenses and special permits for specific commodities played a major role. The establishment of representative offices continued to be a focal point as an initial step into

CORPORATE SERVICESLegal advice & establishment

the Indonesian market prior to committing to a long term investment. Contract drafting services in the fields of corporate, commercial and employment law experienced another growth in demand.

In addition, the department was also involved in internal structural issues, such as the election of the new members of the Board of Management at EKONID’s 41st Annual Members Meeting and the perusal of EKONID’s multiple institutional and economic cooperations from a legal point of view, which were implemented throughout the year. The department also successfully managed to establish the Yayasan Mitra Indonesia – Jerman in Surabaya in cooperation with the Goethe-Institut Jakarta and has published varying updates concerning latest legal developments in different industry sectors and areas of law.

The EKONID Design & Communication Team offers a portfolio of experienced, creative designers combined with an excellent project management, a meticulous eye for quality and a natural talent in multilingual communications: the perfect ingredients for successful business communication.

As the In-house PR & Design Agency of the German-Indonesian Chamber of Industry and Commerce, the Team has successfully accomplish numerous projects, combining event collaterals, social media campaign, and web presence for internal EKONID projects as well as for other German and Indonesian companies and organizations.

A detailed scope of service ranging as follow:• Corporate Publishing• Advertising & Corporate Communication • Product & Event Information • Displays & Trade Fair Participation • Copywriting & Translation

(German, English, Indonesian)

• Photography & Videography• Social Media Campaign & Online Marketing• Web Design & Web Maintenance• Media Relations & Media Monitoring

In accomplishing the projects, we were given the opportunities to combine design insights and creativity to implement the underlying strategies to form a full fletch PR campaign.

We proudly listed below the highlights of 2011: • Science Film Festival 2011• JERIN- Jerman dan Indonesia• CBI- Clean Batik Initiative• EIBD- European- Indonesian Business Dialogue• German- Indonesian Renewable Energy Days • Biomass• Goethe Muslim Youth Study 2011• FORCLIME – Photo Exhibition 2011• GERMAN Cinema Festival• Bayer Annual Report 2010

DESIGN & COMMUNICATIONCreativity with strategy

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EKONID ANNUAL REPORT 2011

DIVISION REPORTS

Due to an increasing amount of inquiries from our members regarding HR issues, EKONID realized the importance of communication among HR people to share their experience in dealing with issues related to manpower.

Starting December 2010, EKONID established an HR network for communication between Human Resource people for Ekonid members and non-members, called the “Human Capital Club (HCC)”.The regular event is attended by large, medium and small-scale enterprises, held every 2 months at Ekonid, starting from 09.00 until 12.00.

For each HCC meeting, EKONID invites guest speakers from various institutions and consultants who are experienced in the field related to HR.

HUMAN RESOURCES & GENERAL AFFAIRSHuman Capital Club

The topics and guest speakers so far have attracted many interested participants:

1. ‘Human Resources at a glance’ presented by Ibu Sri Budihidayati

2. ‘National Social Security’ presented by Bapak Haris E. Santoso

3. ‘Retention Management’ presented by Ibu Betty Siahaan and Bapak Tigor Pangaribuan

4. ‘Talent Management’ presented by Ibu Endang Langheck

5. ‘Trade Union in Indonesia’ presented by Mr. Michael Nicholson

6. ‘Transform to Stay Ahead of the Competitive Game’ presented by Mr. Falko Leonhardt

The successful HCC will be continued also in 2012.

was eager to present Indonesian contribution to a healthier life. All participants were satisfied also because of the informative conference and the huge network for organic products they could find on the fairground. Big participation from Indonesian visitors on international fairs could be counted at BAU (MMG, machinery, construction material), bc India (MMI, construction), IFAT China (MMI, environmental technology) and anuga (koelnmesse, F&B). In 2011 EKONID was appointed to be the representative for bauma 2013 – Partner Country Indonesia.

Moreover, since 2011 EKONID is representing also EquipAuto in Paris/France (automotive parts), muba in Basel/Switzerland (multi-product) and International Toy fair in Nüremberg/Germany (toys).

In 2012, some changes in the structure of the Trade Fairs Division were conducted, the Senior Executives are now supported by a telemarketing team promoting fairs to exhibitors and visitors by mailings, faxes and especially by phone.

The division can report following highlights of 2011: for the first time EKONID organized the participation of the Ministry of Industry at IMM (koelnmesse, Cologne) with twelve exhibitors from AMKRI, the Indonesian Rattan Association. On 500 sqm the exhibitors could show their extraordinary rattan furniture to the trade visitors. Together with the nine regular exhibitors, Indonesia was well presented at IMM. Another leading furniture show in Cologne in September, spoga+gafa, was busy with 21 Indonesian exhibitors. Furthermore, EKONID organized the participation of the Ministry of Agriculture at Biofach (NuernbergMesse) in Nüremberg in February. The Indonesian Organic Association (AOI)

TRADE FAIRSOne-stop service

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EKONID ANNUAL REPORT 2011

TRAINING & EDUCATIONCooperation with GIZ

The Training & Education Division at EKONID has a clear focus: Strengthening the cooperation between vocational training institutions and companies in Indonesia. Through this, EKONID fosters demand-driven education that will result in companies finding well educated graduates who fulfill the requirements of the industry. In a fast changing globalised world the local availability of well educated staff is crucial for companies when decisions on investment have to be made. In this regard EKONID made a step forward to involve itself actively.

In April 2011 EKONID and GIZ (Gesellschaft fuer Internationale Zusammenarbeit GmbH) signed a cooperation agreement to formally join their efforts to strengthen Germany’s development cooperation in Indonesia. In a first step the new partnership will be applied in the field of vocational education. The GIZ project Sustainable Economic Development through Technical and Vocational Education and Training (SED TVET) supports the Government of Indonesia in its

efforts to reform the Indonesian system of technical and vocational education and training and to make it more demand-oriented. Strengthening the cooperation between the education system and the private sector is an essential characteristic of the programme’s approach. EKONID as the representative of German-Indonesian business relations is therefore a natural partner when private sector involvement is aimed at.

The first joint steps had been taken in South Sulawesi and Central Java. In cooperation with provincial business member organizations, employer surveys have been conducted in order to identify the existing training demand for new graduates. Furthermore a study on the teaching industry has been started, which will support the replication of the former GIZ project Indonesian-German-Institute (IGI).

Besides the cooperation with GIZ, the long term aim of EKONID to promote German certification standards in the field of vocational education will be in the focus of the Training and Education Division in the year 2012.

Over the year 2011, there have been several changes in the publication division. The most significant one was our quarterly magazine SOROTAN. Published in English for the first time, the re-design of our magazine gained high compliments from a wide range of readers. Starting 2011, we made sure that every edition of SOROTAN featured an interview with high-rank officials. Furthermore, we included numerous new columns with varying topics to SOROTAN’s regular content.

Aside from the magazine, we also provide a broad range of publications to assist our members in conducting business in Indonesia, including a premium quality magazine and books catered to investors and business owners. We deliver detailed information on the latest issues, often in the form of comprehensive guidelines on decrees and government regulations. Every two years, we publish the up-to-date member directory “Business Partner”, which lists more than 500 companies. This has proven to be an effective tool and valuable business contact resource over the years.

Many of our publications are developed in close cooperation with our colleagues from GTAI, Germany Trade and Invest.

In the future, we expect to produce more publications to assist our member’s needs. We are optimistic that our division will continue to grow and develop to improve our services as well as to enhance our quality to our loyal members.

List of Publication: • SOROTAN• Nachrichtenblitz • Business Partner• Business Guide• Research Publications• Legal Publications

Please log on to our website www.ekonid.com for more publication lists.

PUBLICATIONSInsightful information

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EKONID ANNUAL REPORT 2011

EVENT CALENDAR

1 March - EkONID Get Together in Jakarta

4 - 13 March - MuBa Basel in Switzerland by MCH

5 - 11 March - VMP – Company Delegation in Jakarta

2 March - Breakfast Meeting with TUV RHEINLAND in Jakarta

1 - 5 March - CeBIT in Hanover by Deutsche Messe AG

9 March - European Joint Luncheon with Dr. kuntoro Mangkusubroto in Jakarta

MARCH

JANUARY

11 January - EkONID New Year Reception in Jakarta

17 - 22 January - BAU in Munich by Messe München

30 January - 2 February - ISM in Cologne by Kölnmesse

15 - 18 January - DOMOTEX in Hanover by Deutsche Messe AG

14 January - Press Conference EMO Hannover in Jakarta

17 January - Joint European Network Reception in Jakarta

19 - 21 January - GIZ - AHk Renewable Energy Workshop in Berlin

18 - 23 January - IMM in Cologne by Kölnmesse

FEBRUARY

16 - 19 February - BIOFACH + VIVANESS in Nüremberg by Nürnbergmesse

12 -13 February - AHk AAA Regional Meeting in Bangkok

16 February - Human Capital Club in Jakarta

17 February - Joint European Networking Reception in Surabaya

24 February - Indonesia Business Forum in Singapore

24 - 25 February - EU Parliement visit to Yogyakarta

1 February - EkONID Get Together in Jakarta

23 - 25 January - ASEAN AHk Regional Meeting in Singapore

20 January - BMBF Delegation, StS karl Wollin in Jakarta

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EKONID ANNUAL REPORT 2011

APRIL

11 April - EkONID Get Together in Jakarta

12 - 15 April - NRW Business Delegation in Jakarta

15 April - European Network Cocktail in Bali

18 April - European Network Cocktail in Jakarta

25 - 27 April - Natural Dye Batik Products Exhibition in Jakarta

17 - 22 April - German-Indonesian Mining Technology Symposium

5 - 11 April - Cooperation Development Agreement GIZ – AHk

7 April - Government to Government Negotiation for Development Cooperation in Jakarta

MAY

3 May - EkONID Annual Member Meeting 2011 in Jakarta

5 - 7 May - IFAT CHINA in Shanghai by Messe München

12 May - EkONID Dinner Reception in Jakarta

3 May - EkONID Get Together in Jakarta

5 May - ASEAN – EU Business Summit in Jakarta

10 - 13 May - TRANSPORT LOGISTIC in Munich

25 - 28 May - INTERZUM in Cologne by Kölnmesse

25 - 28 May - MoU Signing European Chambers

27 May - Spargelessen in Jakarta

MARCH

28 March - VDMA, Workshop Großanlagenbau in Frankfurt

29 March - IHk Regensburg - Sprechtag (Business Roundtable) in Regensburg

21 March - 150 years Anniversay DIHk in Berlin

25 March - OAV – Liebesmahl in Hamburg

11 March - Grünkohlessen in Jakarta

4 - 8 April - HANOVER MESSE in Hanover by Deutsche Messe AG

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EKONID ANNUAL REPORT 2011

EVENT CALENDAR

SEPTEMBER

4 - 6 September - SPOGA in Cologne by Kölnmesse

15 - 18 September - kIND + JUGEND in Cologne by Kölnmesse

24 - 28 September - AAA Conference in Jakarta

28 September - EZ - Auwi Conference in Jakarta

28 - 30 September - World Batik Summit in Jakarta

JULY

2 - 5 July - Bavaria Delegation with Staat Sekretär Hessel

5 July - Summer Party 2011 in Jakarta

14 - 17 July - Exhibition of Jambore Batik Warna Alam 2011 in Pekalongan

20 July - IHk Nürnbeg (ASIA – PACIFIC Forum) in Nürnbeg

20 July - Talk Show of Capacity Building on Green Financing of CBI - Bank Jateng, kFW IEPC in Semarang

24 - 29 July - Baden-Württemberg Business Delegation in Jakarta and Surabaya

JUNE

7 June - EkONID Get Together in Jakarta

15 - 19 June - Exhibition of Adiwastra Nusantara 2011 in Jakarta

15 - 19 June - DE International Workshop in Shanghai

17 June - Talk Show of Adiwastra Nusantara 2011 in Jakarta

22 - 24 June - Indonesian – German Tax Workshop in Jakarta

22 - 25 June - STONE + TEC in Nüremberg by Nürnbergmesse

27 - 30 June - IHk BIELEFELD – ASEAN Days

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EKONID ANNUAL REPORT 2011

DECEMBER

1 December - Luncheon with President Wulff in Jakarta

2 - 4 December - Exhibition of World Batik Summit in Batam

6 December - EkONID Get Together in Jakarta

13 December - EkONID Christmas Party in Jakarta

NOVEMBER

1 November - European Joint Bilateral Gathering & EkONID Get Together in Jakarta

9 - 11 November - Exhibition of Asian Pacific Round table Sustainable Consumtion & Production in Yogyakarta

10 November - Talkshow of Asian Pacific Round table Sustainable Consumtion & Production in Yogyakarta

16 November - Science Film Festival in Jakarta and other cities

15 November - EkONID-Commerzbank Business Luncheon with Mr. Christof Gabriel Maetze in Jakarta

11 - 19 November - Delegation from the State of Saarland in Jakarta

1 - 3 November - CEE ASIA in Singapore by Kölnmesse

OCTOBER

1 - 2 October - World Batik Summit in Jakarta

3 October - JERIN Opening Classical Gala Concert in Jakarta

8 - 12 October - ANUGA in Cologne by Kölnmesse

11 - 15 October - EQUIP AUTO in Paris by Comexposium

4 October - EkONID Get Together in Jakarta

9 - 12 October - Delegation from the German Trade and Investment in Jakarta

13 October - Joint Meeting of AHk-MD & ASEAN Ambassador at EKONID Building

24 - 26 October - German-Indonesian Renewable Energy Conference in Jakarta

25 - 27 October - SWITCH Network Meeting in Jakarta

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EKONID ANNUAL REPORT 2011

HIGHLIGHTS

Started off with programme introduction activities such as the info days and followed up with selection and recruitment of local Technical Consultants and the establishment of local project office, the program successfully groom ten highly-committed individuals (five in each city) to become expert in the field of cleaner production in batik. The Technical Consultants made a minimum of eight visits during a two to three months period to each SME to conduct in-field technical assistance to help them realise efficiency in water, materials and energy in their production process.

Bringing an improved intervention method from the first year implementation in Yogyakarta, CBI also developed standard toolkits and series of fit-for-purpose technologies that are installed at SME sites. These relatively simple low-cost gears and technologies greatly improve worker’s comfort and safety and allowed huge gains in efficiency that are otherwise minimal. With such concept in place, CBI has realized annual cost- savings in production to the tune of Rp. 1.7billion and an annual CO2 reduction of 96 tons among the 202 newly assisted SMEs.

While efficiency gains in the areas of water, materials and energy helped in reducing the negative environmental impact of batik production, no act can make a more

significant impact than switching to natural dyes use in the production of batik. Considering conventional method of batik production has clearly damaged the surrounding environment as can be seen in the case of Pekalongan and to a lesser extent in Cirebon, CBI strongly push the adoption of natural dyes by SMEs participating in the program, making the switch even mandatory before the SMEs are considered eligible for assistance by the Sustainable Consumption component of CBI.

Working with various noted Indonesian experts in the field, CBI has delivered series of trainings and workshops for the local Technical Consultants and the SMEs to build their capacity in this particular area. The results have been slow but rightly forthcoming. Dispelling the myth that natural dyes are difficult to make is just one barrier that needs to be overcome. SMEs that have taken a liking to the idea of using natural dyes, have realized that its potentials need to be explored locally which requires time, patience and most importantly passion. CBI has basically transferred basic and practical knowledge on how to produce and utilize natural dyes in batik production. It is up to the SMEs to explore their own backyards to seek what other plants, trees, roots, fruits, etc. have the potentials to produce natural dyes in the colour they desire.

Recently completed its second year activities, CBI has successfully assisted an additional 202 batik SMEs in Cirebon (West Java) and in Pekalongan (Central Java) in implementing cleaner production concept. The excellent support from our contacts in both cities allowed us to complete SME clustering in the early stage which enabled the program to recruit SMEs effectively for the program immediate launch in each respective city.

CLEAN BATIK INITIATIVESecond Year Accomplishment

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EKONID ANNUAL REPORT 2011

Knowing that a switch is difficult to realise without market pull mechanism, CBI also regularly participates in various events and exhibitions where natural dye batik products from the SMEs can be displayed and sold. While a standard quality control is in place, the experience has been good for both the CBI team and the SMEs as many feedbacks from the customers are taken into account to further improve the batik products. The sales itself has been a very strong incentive for SMEs that are still reluctant to make the switch to natural dyes. Knowing that their peers have reaped financial benefits from selling their products in CBI exhibitions, a good number of SMEs in both Cirebon and Pekalongan have now partially switched part of their production using natural dyes. Some SMEs are so committed to the cause that they have negotiated with the local traditional market to keep whatever organic wastes for their natural dye production.

In order for all this momentum to keep going, CBI has also been concerned on how to make the program sustainable once it leaves the region. A number of policy dialogues both in a formal and informal setting have been initiated to highlight successes of the program and what roles government can play to bring it to the next level to even wider number of batik SMEs. Different actors and point of view have been brought together in order for the local authorities to understand the real issues and possible solutions to the existing situations and conditions. If these efforts succeed, then the batik industry can look forward to greener credentials that can truly be the pride of Indonesia.

Programme Associate:

Indonesia Cleaner Production Center (ICPC)

Programme Partners:

Malaysian-German Chamber of Industry and Commerce (MGCC)

IHK Academy Munich, Germany

Media Partners:

Exclusive Media Partner

Supporting Media Partners

Supporting Institutions:

Ministry of Environment

Republic of Indonesia

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EKONID ANNUAL REPORT 2011

HIGHLIGHTS

The ‘Renewables – Made in Germany’ initiative visited Jakarta on October 24th – 26th. Designed as a three days event, the German-Indonesian Renewable Energy Days started by a two days conference with a specific focus on biomass technologies and their application in Indonesia and was followed by two workshops dedicated to Solar and Hydro Power technologies. Over three hundred and fifty participants attended the three days, composing a high level audience from both the public and the private sectors and affirming once again the interest in the renewable energy sector and a deeper German-Indonesian cooperation.

Prominent German and Indonesian speakers from the private sector as well as German and Indonesian governmental representatives attended the event and covered a wide range of topics. The current Indonesian market potentials as well as its government policies and challenges were largely discussed and Germany’s experience in terms of promotion of renewable energy was highlighted. Furthermore, project developers from both countries did share their practical experience through concrete case studies, exchanging on how to jointly develop the huge potential of the Indonesian bio-energy sector.

The event was the product of a close collaboration between EKONID and the GIZ. The combination of GIZ technical know-how and EKONID’s experience and business expertise was indeed calling for success. But the achievement was beyond expectations - the unexpected high number of participants, the quality of the presentations and the discussions, the good organization – and will lead to new joint projects between the two German organizations. Ekonid welcomed at the same time a business delegation composed of German companies specialized in the renewable energy sector. They had the unique opportunity to present their products but as well to discuss potential business partnerships with Indonesian companies.

The German Indonesian Renewable Energy Days were held in the InterContinental Hotel MidPlaza in Jakarta, October 24th – 26th. Product of a joint collaboration between Ekonid and the GIZ, the successful three days’ event aimed at discussing the latest developments in Germany’s and Indonesia’s renewable energy sector.

GERMAN INDONESIAN RENEWABLE ENERGY DAYSGreen Supply for Growing Demand Prospects for Bio-Energy Power Supply

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EKONID ANNUAL REPORT 2011

Business trips are a major element in the German foreign trade promotion by federal or local governments. Within this framework, EKONID’s Business Development department organizes 3-4 days’ programs focusing on business partner search and organizing B2B meetings. Each time composed of 8 to 10 companies, the several business delegations were covering different sectors of activities. The programs for the delegates were built around two main topics:

• Providing the necessary market entry information• Presenting the German technologies and

organizing a potential partner search

To develop its business abroad, it is necessary to gather information on the target country, its investment climate, its regulations and its specificities. During the first day, the participants from the delegations had the opportunity to discover more about the Indonesian economy as well as the characteristics of the market of their expertise. Sites visits were organized as well in order for the participants to get a better picture on the existing technologies.

The rest of the programs consisted in presenting the German companies’ products and assisting the delegates in finding potential business partners. Based on the research and selection made by the Business Development department’s team, the German participants met with 10 to 12 Indonesian counterparts contacted beforehand. Out of those B2B meetings, several German participants had the opportunity to find real partners among the preselected ones, and are now properly entering the Indonesian market.

The participation of high ranking political officials to those delegations added an institutional component and we would like to thank Mr. Joachim Kiefaber, State Secretary of Saarland, and Mrs. Katja Hessel, State Secretary of Economic Affairs of Bavaria for their visits.

BUSINESS DELEGATIONS

Delegation Sponsored by Date Sector Focus

North Rhine-Westphalia 12 - 15 April Mining Equipment

Bavaria International 2 - 10 July IT, Chemicals, Manufacturing

Baden-Württemberg International 23 - 30 July Machinery

Federal Ministry of Economics & Technology 9 - 12 October Environmental and Recycling Technology

Federal Ministry of Economics & Technology 24 - 26 October Biomass industry

Saarland International 11 - 19 November Machinery, Cable products

EKONID welcomed not less than six German business delegations in 2011, asserting once again the European companies’ interest in the Indonesian growing market.

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EKONID ANNUAL REPORT 2011

Supported by the German Government, the German Embassy Jakarta, the Goethe-Institut Jakarta as well as EKONID, initiated JERIN together with many German company partners and Indonesian support. We have also won the German president to become our patron for the event series, which highlighted in his visit in December 2011.

JERIN comprised till now more than 60 events in over 20 cities all over the archipelago. The events reach from culture to science, from economics to education and from politics to development cooperation. Altogether JERIN has reached already 100.000 visitors of the events only in 5 months.

EKONID has developed the whole PR for the project: starting with the logo, the motto, the event collaterals, the JERIN website, JERIN Blackberry Application, including the online PR Campaigns and in printed media. Within six months only, EKONID was able to reach and even to exceed the goal set for JERIN to reach 1.000.000 people though social media campaigning.

EKONID is also responsible for the partner relations and has succeeded to win renowned German companies as JERIN partners.

EKONID not only contributed with its Design and PR Expertise, we have also organized JERIN Events ourselves:• German-Indonesian Renewable Energy Days• The Exhibition Indonesian Batik “A Living Heritage”

in Galeri Nasional Indonesia in Jakarta and in Solo

EKONID helped organizing a number of JERIN Highlights:• JERIN Opening Gala in Surabaya & Jakarta • GIZ Mobile Exhibition Development Cooperation• Berlin Designers at the Jakarta Fashion Week• Science Film Festival 2011• FORCLIME Photo Competition 2011• German Cinema Festival

In October 2011 the event series JERIN- Jerman dan Indonesia was launched in Indonesia. JERIN aims to present a platform for highlighting German-Indonesian cooperation. Under a joint logo and the motto “Creativity in Diversity”, JERIN illustrates the successful partnership between Indonesia and Germany. The overarching topic of JERIN “New Energies for the Future” reflects the vibrancy of both societies to give inspiration and new impulses for the long-term future of this partnership. The event series is of a unique character as it brings together Indonesian and German partners from business and development cooperation, culture, science as well as education.

JERIN - JERMAN DAN INDONESIACreativity in Diversity

HIGHLIGHTS

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EKONID ANNUAL REPORT 2011

We have been nominated for Design Awards for the promotion materials of Science Film Festival 2011.

The event series JERIN was so successful that it will be prolonged even after June to become a Platform for German-Indonesian cooperation in Indonesia. We are looking forward for even more exciting events and to develop the Platform JERIN as ambitious as the event series JERIN. The upcoming concerts and events shall address more Indonesians and provide cultural experiences and important education. JERIN wants to improve a platform to strengthen the bounds between Germany and Indonesia in many ways.

Some of the highlights of upcoming events:• German- Indonesian Renewable Energy Days:

New Sector Focus• Exhibition: Raden Saleh• JERIN Butterfly Design Contest• Pop Concert

Let yourself be inspired by JERIN!

Platinum Partners

Gold Partners

Institutional and Media Partners

Supporting Partners

PAPENBURG SINCE 1795

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EKONID ANNUAL REPORT 2011

The President of the Federal Republic of Germany, H.E. Christian Wulff, acknowledged the increasing importance of Indonesia and its business community and encouraged the community present to intensify their engagement to deepen the relationship between the two countries.

After serving the famous Rjistafel at Restaurant OASIS, four statements on the economic situation in Indonesia were presented to the guests of the luncheon.

Mr. Suryo Bambang Sulistyo, Chairman of KADIN, informed the audience about the policy development of the Indonesian government, outlined in the Master plan, where the importance of the involvement of foreign businesses for sustainable growth is stated. Mr. Sulistyo thanked the German government and business community for their support through their advanced technologies and long-term strategic investments. He mentioned “… the excellent cooperation with your German Chamber, EKONID, which is our key partner among the European business organizations,” and offered “to take the cooperation between KADIN and Germany to the next level.”

Chris Kanter, Vice Chairman of the Employers’ Association (APINDO) pointed out the importance of a Comprehensive Economic Partnership Agreement (CEPA) between Indonesia and the EU, to intensify economic cooperation. “A synergy between Germany and Indonesia will become very important, especially Germany as a long-term investor to Indonesia, which goes beyond one hundred

years”. Beyond, Mr. Kanter also pointed out that the German Embassy is working closely together with the private sector and that EKONID has been very productive and very proactive and therefore a strong partner. He advised that Germany should not only be seen as a friend of Indonesia, but also as a place to invest and do business.

Mr. Hässlein from SIEMENS and Mr. Hauptmann from SCHENKER elaborated about the status of the Indonesian infrastructure and logistic sector conditions, often seen as bottleneck in the economic development of the country, and stressed their trust in Indonesia and its enormous potential for German companies.

In his closing statement, H.E. President Wulff emphasized the need for closer cooperation and coordination between all institutions in the field of politics, economics and development cooperation, “as only together we will be able to survive the challenges of the future, such as climate change, food and water supplies and political stability and prosperity.” He highlighted the key role that Indonesians play in this cooperation, especially those who have lived and studied in Germany, and vice-versa, Germans who live and work in Indonesia.

Towards the end of the luncheon, President Wulff complimented EKONID on its successful development during the last four decades and underlined the role of the worldwide AHK Chamber Network in creating and strenghthening the ties between German business communities and their local counterparts.

EKONID LUNCHEONwith the President of the Federal Republic of Germany, H.E. Christian Wulff

HIGHLIGHTS

During President Wulff and his delegation’s state visit to Indonesia, EKONID had the honor to invite several members and partners to a luncheon with the President. Following mingling time for guests, which consisted of an interesting mixture of German economic delegation members, EKONID Board Members, high-ranked Indonesian partners such as Mr. Sulistyo from KADIN and Mr. Kanter from APINDO, as well as representatives of local German and Indonesian businesses, the luncheon was opened by the Chairman of the Board of EKONID, Mr. Ari Soemarno. The Chairman, who happens to be a graduate of Aachen University - pointed out that through EKONID, many German companies have found good business partners in Indonesia.

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EKONID ANNUAL REPORT 2011

The campaign started at IMM Cologne, where the first Indonesian pavilion strategically located in Hall 2.1 with the unique and attractive traditional rattan decoration will surprise buyers, interior decorators and designers from all over the world.

Twelve Indonesian exhibitors have been selected and presenting their latest collection and features the best rattan product from Indonesia. The commitment of AMKRI to present a “Green Furniture” becoming an important topic for the international furniture sector, in consideration of raw material grows and sustainability and environmental compatibility, and will not release harmful emission.

Buyers night was the climax of the first Indonesian Rattan Pavilion at the IMM held on 18th January 2011 and hosted by Mrs. Euis Saedah the Director General Small Medium Industry Ministry of Industry Republic Indonesia. Buyers and media representatives attended the special night and the special guest of honor the Indonesian Ambassador in Germany, Mr. Eddy Pratomo and colleagues from Indonesian Embassy in Berlin, and ITPC from Hamburg. Also Koelnmesse was represented by Mr. Oliver Kuhrt (Chief Executive), Mr. Michael Dreyer (Vice President Koelnmesse Asia Pacific) and Mr. Uwe Dietersen (Product Manager IMM).

Mrs. Euis Saedah’s pointed out that investment in rattan industry is very promising because several factors for developing rattan business are prospering

in Indonesia, such as the availability of raw material, skilled labor, the availability of processing material and components, good accessibility to export markets, large market opportunity in both domestic and international.

The representatives of the Ministry of Industry also signed a cooperation agreement with Fachhochschule Coburg, the last Rattan University in Germany.

Indonesia participation in Hall 2.2

Indonesia participation in IMM Cologne cover in Hall 2.1 and 2.2 for individual exhibitors, were participating nine Indonesian manufactures

“IMM is our major exhibition in furniture market, only on the first and second day our important customers were visiting and sometimes they brought their colleagues to introduce to us and become our new customers. We participate in IMM not only to look for new customers, but IMM is our meeting point.” Added Mr. Bambang Soetrisno the Director from Buana Inter Global.

Mr. Frans Ronald from Charismatama added that he is very satisfied from his first participation at IMM, they met new customers and their loyal customers visited them as well.

85% of the rattan in the world is concentrated in Indonesia, it is no wonder that a strong and efficient rattan furniture industry was able to develop in Indonesia. The rattan theme is now to be anchored even more firmly in the international furnishing sector with a unique campaign. Indonesian Rattan Association (AMKRI) has been awarded five years project by Ministry of Industry to promote Rattan Industry through several exhibition in IMM Cologne - Germany, Valencia Expo - Spain, Shanghai Furniture Show - China, and High Point – USA.

IMM 2011ReportFirst Indonesian Rattan Pavilion at IMM

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EKONID ANNUAL REPORT 2011

In 2011, the number of personal and corporate members has increase from 436 to 471 members.

The membership report is detailed as follow:

EKONID membership includes leading German companies from sectors like banking, chemical, pharmaceutical, electrical, engineering, construction and automotive, as well as Indonesian companies that do business with Germany.

In January 2011 EKONID started its member visit program to find out how to improve the relationship and how to increase the support and benefits to our valued members.

MEMBERSHIP REPORT

Membership (per year) Personal Associate Total

31 Dec 2011 43 428 471

31 Dec 2010 48 388 436

Type Location Total

Corporate Germany 35

Indonesia 347

Malaysia 1

Singapore 3

Philippines 1

China 1

Corporate total 388

IHK/ AHK Australia 1

Germany 36

India 1

Japan 1

Philippines 1

IHK/ AHK total 40

Personal Germany 4

Indonesia 39

Personal total 43

GRAND TOTAL 471

MEMBER BY TYPE OF MEMBERS

Corporate

Personal

IHK/ AHK

CORPORATE MEMBER CLASSIFICATION BY ACTIVITIES

Manufacturing

Hotels and Restaurants

Health, Social and

Personal Activities

Financial and Insurance Activities

Electricity, Gas, Water Supply

and Construction

Corporate

Mining and Quarrying

Professional, Scientific

and Technical Activities

Public Administration and Defence

Real Estate

Renting

Transport, Storage and

Communication

Wholesale and Retail Trade

Agriculture

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EKONID ANNUAL REPORT 2011

EkONID would like to express its sincere appreciation for the loyal membership of the following corporate and personal members:

MEMBERSHIP ANNIVERSARIES

YEARS MEMBERSHIP10EVONIK - GOLSCHMIDT SUMI ASIH, PTHELU TRANS, PTDipl.-Ing. Thomas HidayatINNOVASI ARTISTIKA, PTMAGETAN PUTRA, PTSGU - SWISS GERMAN UNIVERSITYSigit SoegiartoZF SOUTH EAST ASIA PTE., LTD

YEARS MEMBERSHIP20BAUER PRATAMA INDONESIA, PTEUROASIATIC JAYA, PTGIWANG KANAKA, PTSUMI ASIH, PTXYLO INDAH PRATAMA, PT

YEARS MEMBERSHIP30Bernd F. Ruthkötter

YEARS MEMBERSHIP40MOHTEX TRADING CORPORATION, PT

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EKONID ANNUAL REPORT 2011

As a member organization, EKONID’s most valuable assets are our members. Thus, we have to know as much as possible about you as our member, your company organization and your business activities.

In order to improve the benefits of being an EKONID member, we would like to obtain your feedback on our activities and services and identify your expectations of being an EKONID member and measure your satisfaction. Therefore, we designed our Member Visit Program 2011 which consisted of three stages:

1. An update on your organizational profile 2. A questionnaire about your membership satisfaction and expectations and 3. A personal interview with one of our management or senior staff members.

In 2011 we managed to visit 65 of our members in and around Jakarta. Some of the results of the questionnaires and interviews are presented in the following:

MEMBER VISIT PROGRAM 2011

We would like to thank our members for their time and efforts spent to support EKONID.

Market Research

Design & Communication

Trade Fairs

Corporate Services

Business Development

SERVICES USED

18.7%

17.3%

16.0%

29.3%

18.7%

MEMBER SATISFACTION

Very Satisfied

Satisfied

Adequate68.9%

15.6%

15.6%

EXPECTATION TOWARDS EKONID

Assistance

Event

Legal Advise

Market Research

Invitation

Others

32.5%

16.7%

20.8%

14.2%

8.3%

7.5%

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EKONID ANNUAL REPORT 2011

EKONIDBecome Premium Partner

As a Premium Partner, you are entitled to the following benefits:• Cooperation activities especially tailored to the need of your company (e.g. event

partnerships, promotion activies).• Logo exposure on EKONID’s website and Wisma Jerman Surabaya, banner, backdrop,

outgoing emails, newsletters, annual reports, and event invitation.• Free entrance to our social events in Jakarta and Surabaya including Get Togethers,

Business Luncheons, Spargelessen, Grünkohlessen, New Year’s Receptions, Gala Dinners, and Joint European Gatherings.

• Promotion and advertisements in Business Partners and SOROTAN.• Opportunities for product displays at our many events.

The partnership can last from one to two years and only one company per sector will be accepted. For more information, please contact Ms. Daniela Gekle

[email protected] or phone +62-21 315 4685.

with

EKONID is at the center of a wide network of business partners. Our organization has also a great deal of communication channels at our disposal including our homepage, mailings, newsletters, events, and our magazine, SOROTAN. All of these resources can be available to your company to improve your presence domestically and internationally when you become a Premium Partner with EKONID.

Become a premium partner and start reaping the rewards today.

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EKONID ANNUAL REPORT 2011

The financial position of EKONID was audited as of December 31st, 2011 by the independent, registered public accountant Drs. Bayudi Watu & Rekan in accordance with the accounting principles generally accepted in the Republic of Indonesia.

Reflecting its character as a non-for-profit organization, EKONID’s balance sheet is dominated by cash and cash equivalents.

As income EKONID receives contributions from its members, fund for development projects, income from business promotion and trade fair activities. The subsidies from the German government and other government or institutional funded projects are displayed.

The large increase in grant funded projects – mostly the EU funded Clean Batik Initiative (CBI) – influenced the financial position of EKONID significantly in 2011.

Overall EKONID was able to fulfill its obligations towards the authorities, its staff as well as suppliers and is at the end of the year 2011 in a financially sound position.

FINANCIAL REPORT 2011

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EKONID ANNUAL REPORT 2011

2010 2011

CASH RECEIPTS IDR IDR

Membership Income 1,454,970,910 1,515,996,539

Service Income 3,097,460,511 4,293,748,694

Publications 535,722,471 642,398,582

Trade Fairs 2,302,339,298 1,372,110,233

Grant Project 1,454,358,511 7,404,867,055

TOTAL CASH RECEIPTS 8,844,851,701 15,229,121,103

Expenditures

Personnel expenditures (6,644,289,746) (7,291,108,451)

Operating expenses (9,309,158,534) (8,858,163,382)

NET CASH FOR OPERATING ACTIVITIES (7,108,596,579) (920,150,730)

Net cash (used in) / provided by investing activities (161,749,730) (908,056,483)

Subsidies from Germany 1,605,190,535 1,592,973,638

Funding for JERIN Events 0 865,260,836

NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENT

(5,665,155,774) 630,027,261

Cash and cash equivalent at the beginning of year 7,065,316,470 1,400,160,696

Cash and cash equivalent at the end of year 1,400,160,696 2,030,187,957

STATEMENT OF RECEIPTS AND EXPENSES ON CASH BASIS

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EKONID ANNUAL REPORT 2011

EKONID WOULD LIKE TO THANK

PREMIUM PARTNER:

PARTNERS:

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EKONID ANNUAL REPORT 2011

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Jl. H. Agus Salim No.115 | Jakarta 10310 | P.O. Box 3151 | Jakarta 10031Indonesia | Tel. +62-21 3154685 | Fax. +62-21 3155276

E-mail: [email protected] | Internet: http://www.ekonid.com