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Corporate PresentationDECEMBER 2010
Cementing Path For Sustainable Growth
1
INDONESIA’S CEMENT INDUSTRYSMGR Corporate Presentation
December 2010
2
1. Semen Padang 5.9 mn ton2. Semen Gresik 9.0 mn ton3. Semen Tonasa 4.1 mn ton4. Semen Andalas 1.6 mn ton5. Semen Baturaja 1.3 mn ton6. Indocement TP 17.1 mn ton7. Holcim Indonesia 8.5 mn ton8. Semen Bosowa 1.8 mn ton9. Semen Kupang 0.5 mn ton
TOTAL 49.8 mn ton
CEMENT INDUSTRY 2008 2009 2010F 1)
CEMENT INDUSTRY AT A GLANCE
• Production Capacity : 46.6 mio ton 49.8 mio ton 51.7 mio ton• Domestic Growth : 11.5% 2.5% 6.5%• Domestic Utilization : 82% 78% 80%• Supply Domestic : 38.1 mio ton 39.1 mio ton 42.0 mio ton Export : 4.9 mio tons 4.0 mio tons 3.2 mio ton Import 2) : 1.5 mio tons 1.5 mio tons -
1) Based on Company’s forecast2) Imported cement by PT Semen Andalas as its cement plant is currently under reconstruction
Singapore
Kuala Lumpur
SMGR
44
11
55
6677
2
3
88
99
CEMENT PLAYERS and CAPACITYSMGR: 19.0 mio tonSMGR: 19.0 mio ton
33
COMPARISON: CEMENT CONSUMPTION PER CAPITA 2009
Source: Deutshe Bank; CEIC; Bahana Research, Indonesia Cement Association
0
200
400
600
800
1000
1200
China
Saudi Arabia
Singapore
ItalyMalaysia
Vietnam
USAThailand
Japan
Germany
IndiaIndonesia
Philipina
kg/capita
167
kgkg
4
INDONESIA CEMENT CONSUMPTION PER CAPITA (1997 – 2009)
123 128
141
96 94
110
125130 130
140 144 145152
162167
0
20
40
60
80
100
120
140
160
180
1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
kg/per capita
Source: Indonesia Cement Association
4
18% growth in 12 years
5
Source: Indonesian Cement Association & BPS Statistic
INDONESIA HAS EXPERIENCED SOLID ECONOMIC AND DOMESTIC CEMENT CONSUMPTION GROWTH
Growth:
1.1%
Growth:
9.7%
Growth:
4.2%
Growth:
1.8%
Growth:
6.6%
Growth:
5.8%
Growth:
19.4%
Domestic consumption (LHS)
GDP growth % (RHS)
(mio tons)
DOMESTIC CEMENT CONSUMPTION, CEMENT GROWTH, GDP GROWTH AND CONSTRUCTION GROWTH IN INDONESIA
38.1
34.232.131.5
30.2
27.527.2
39.1
4.60% 6.1%
6.3%
4.4%
5.4%5.1%
4.7%
5.6%
5.8%
1.1% 1.8%
6.6%
2.5%
9.7%
4.2%
11.5%
0.0
10.0
20.0
30.0
40.0
2002 2003 2004 2005 2006 2007 2008 2009
0.0%
10.0%
20.0%Cement growth (RHS)
6
COMPANY PROFILESMGR Corporate Presentation
December 2010
7
1957 : Inauguration of Gresik I, installed capacity of 250,000 ton cement per annum 1991 : Initial Public Offering, Market Cap IDR0.63tn, resulting shareholding structure
post IPO:● Government of Republic of Indonesia: 73% ● Public: 27%
1995 : Acquisition of PT Semen Padang (Persero) and PT Semen Tonasa (Persero) 1998 : Cemex became a strategic partner, Market Cap IDR4.9tn 2006 : Blue Valley Holdings bought Cemex’s 24.9% stake in SMGR, Market Cap IDR21.5tn 2010 : In March 31, Blue Valley Holdings sold 23.65% of its stake ownership in SMGR,
Market Cap per March 31, 2010 IDR43.3tn 2010 : Targeted total installed capacity of 19.50mm tons, Market Cap per Nov 30, 2010
IDR54.6tn
Public (48.99%)
The Government of the Republic of Indonesia (51.01%)
PT Semen Gresik (Persero) Tbk.
PT Semen Padang(99.99%)
PT Semen Tonasa(99.99%)
Six subsidiaries Non-cement producers
BRIEF HISTORYBRIEF HISTORY
OWNERSHIP STRUCTURE1OWNERSHIP STRUCTURE1
SMGR IS THE #1 CEMENT COMPANY IN INDONESIA
¹ As of April 09, 2010
0,0
5,0
10,0
15,0
20,0
1957
1980
1980
1984
1985
1986
1994
1996
1997
1998
2006
2007
2008
2009
SMGR CAPACITY BUILD-OUT (MM TONS)SMGR CAPACITY BUILD-OUT (MM TONS)
Five subsidiaries Non-cement producers
888
SMGR’s COMPARATIVE & COMPETITIVE ADVANTAGE HAS DRIVEN SMGR TO BE THE MARKET LEADER IN INDONESIA
SMGR’s COMPARATIVE & COMPETITIVE ADVANTAGE
MARKET SHARE + 45%MARKETLEADERMARKETLEADER
99
Distribution warehouses in all areas of Java, Bali, Sumatra, Kalimantan, Sulawesi and Irian 14 large packing plants Nationwide distribution network Operate 4 special sea ports: Padang, Tuban, Gresik, Biringkassi Total installed cap. EoY 2008: 18.0 mn tons and EoY 2009: 19.0 mn tons
SMGR’s PRODUCTION FACILITIES ARE WELL SUPPORTED BY STRATEGICALLY LOCATED MARKETING AND DISTRIBUTION FACILITIES (2009)
TelukBayur
Sumatera
Kalimantan
SulawesiMaluku
Papua
LombokBaliJava
Batam
Ciwandan
Tanjung Priok Jakarta
Samarinda
Banjarmasin
Palu
Bitung
Ambon
Makassar
Biringkasi
BaliTabananDenpasarSingarajan
DI YogyakartaLempuyanganJanti
Central JavaTegalPurwokertoKudusMagelangSolo/PalurAlas TuwoMojopahitSayung
West JavaSerangTangerangBogorCibitungBandungTasik MalayaCirebonNarogong
Belawan
Singapore
Kuala Lumpur
Tuban
Surabaya
Cement Plant
Packing Plant
Port
Warehouse
East JavaMargomulyoTanjung WangiBangkalanSwabina
Aleh
Pelabuhan Tuban
Pelabuhan Gresik
Installed Cap.:5.9 mn tons
Installed Cap.:9.0 mn tons
Installed Cap.:4.1 mn tons
101010
87289601
12209
14.387
33284001
5354
6.774
15391999
7532
2892 3387
4.342
23971779
4.772
3867
28482234 3.326
2523177512961002
0
2000
4000
6000
8000
10000
12000
14000
16000
2005 2006 2007 2008 2009
Revenue Gross Profit Operating Profit Ebitda Net Profit
(Rp billions) CAGR(2005 – 2009)
Revenue 18%
Gross Profit 24%
Operating Income 30%
EBITDA 24%
Net Income 35%
Total assets 15%
Total Equity 23%
SGG HAS EXPERIENCED ROBUST FINANCIAL GROWTH
1111
STRONG BALANCE SHEET AND RETURNS
Cash balance (IDR bn) Total debt (IDR bn)
2.939
5.2823.836
1.424 1.929
2005 2006 2007 2008 2009
CAGR (05—09) 39%
151
854
224 159 180
2005 2006 2007 2008 2009
CAGR (05—09) -35%
* Include short term investment
Debt/EBITDA
0,10x
0,40x
0,03x0,06x 0,05x
2005 2006 2007 2008 2009
Return on Assets
17,3%13,7%
25,7%20,8% 23,8%
2005 2006 2007 2008 2009
1212
2.5% 3.0% 2.7%
5.2%
4.1%
2005 2006 2007 2008 2009
Average: 3,5%
1.8% 1.1%
4.1%
0%
JSX
Top-20
*)
INTP SMCB SMGR
SMGR DIVIDEND YIELD IN THE LAST 5 YEARS 1)SMGR DIVIDEND YIELD IN THE LAST 5 YEARS 1)
*):Based on median of Top-20 Biggest Market Capitalization JSX listed companies in dividend yield, excluding Semen Gresik for FY2009
2009 DIVIDEND YIELD 1)2009 DIVIDEND YIELD 1)
REGULAR DIVIDENDSREGULAR DIVIDENDS
Key determinants of dividend policy:• Historical dividend payout trends• Comparison with peers• Projected cash-flows available for dividends (after taking into account
potential expansionary capex etc)• Analyst and investor expectations• Shareholder profile
REGULAR DIVIDEND PAYMENTS WITH ATTRACTIVE YIELD
1) shares price based on closing price at the end of year
13
3980
5160 5300 56005000
40003425
41753725
4900
6300
7550 7300
87509250
8700
9,900 9,8009,200
1805.521830.922139.282359.21
2745.832447.3 2349.1
1832.51355.4 1434.07
2020.782467.592534.35
2777.3 2913.683,069.283,081.883,501.303,635.323,531.21
3630
0
1000
2000
3000
4000
5000
6000
7000
8000
9000
10000
28-Dec-06
30-Mar-07
29-Jun-07
28-Sep-07
28-Dec-07
31-Mar-08
30-Jun-08
29-Sep-08
30-Dec-08
31-Mar-09
30-Jun-09
30-Sep-09
30-Dec-09
31-Mar-10
30-Jun-10
30-Jul-10
31-Aug-10
30-Sep-10
29-Oct-10
30-Nov-10
SMGR JCI
SMGR STOCK PRICE HAS CONTINUED TO OUTPERFORM JCI
14
MARKET UPDATE (11M2010)
SMGR Corporate Presentation
December 2010
MARKET UPDATE (Cement Sales 11M2010) *)
DESCRIPTION 11M2010 11M2009 CHANGE (%)
DOMESTIC 15.90 16.17 (1.7)
EXPORT 0.24 0.61 (59.8)
GRAND TOTAL 16.15 16.78 (3.8)
SMGR Sales Volume (million tons)
DESCRIPTION 11M2010 11M2009 CHANGE (%)
Jakarta 3.43 3.28 4.7
Banten 1.88 1.74 8.2
West Java 5.31 5.03 5.6
Central Java 4.06 4.13 (1.9)
Yogyakarta 0.54 0.56 (3.3)
East Java 4.59 4.58 0.2
Total Java 19.84 19.35 2.5
Sumatera 8.73 7.93 10.1
Kalimantan 2.57 2.28 12.9
Sulawesi 2.72 2.75 (0.8)
Nusa Tenggara 2.18 2.02 7.8
Maluku & Papua 0.80 0.82 (1.8)
TOTAL INDONESIA
36.87 35.16 4.9
Export Semen 0.69 1.19 (41.7)
Export Clinker 1.89 2.59 (27.1)
Total Export 2.58 3.78 (31.7)
GRAND TOTAL 39.46 38.95 1.3
Industry Sales Volume (million tons)
*) Source: Indonesia Cement Association, un-audited figures*) Source: Indonesia Cement Association, un-audited figures
15
1616
MARKET BY GEOGRAPHY (11M2010)
Domestic Consumption – Java remains as the largest market*)
23.7%
7.4%7.1%
5.9% 2.3%East of Indonesia
Nusa Tenggara
Kalimantan
SulawesiJava53.6.%
Sumatera
Domestic Market Share*)
*) Source: ASI (Indonesia Cement Association)*) Source: ASI (Indonesia Cement Association)
SG
SP
ST
1
2
3
4
5
6
REGIONMARKET SHARE (%)
SMGR INTP SMCB BSWA ANDLS BTRJA
1. JAVA 38.2 40.2 19.2 2.4 - 0.04
2. SUMATERA 44.3 15.6 9.3 2.2 16.6 11.9
3. SULAWESI 60.7 15.8 0.8 22.7 - -
4. KALIMANTAN 54.6 26.3 10.4 8.7 - -
5. NUSA TENGGR. 36.9 39.3 4.2 19.6 - -
6. EASTERN IND. 70.7 15.8 0.9 12.5 - -
TOTALINDONESIA
43.1 31.0 13.6 5.5 3.9 2.9
DOMESTIC MARKET CONSUMPTION
Retail (residential) sector is the largest consumer of cement in Indonesia
17
Bag80%
Bulk20%
Key Drivers of Domestic cement demand:• National Economic Growth• Favorable Interest Rate Environment
• Infrastructure Expansion• Per Capita Consumption increase from current low levels
• Ready-mix (infrastructure): ± 50%
• Fabricator (pre-cast, fiber cement, cement based industry): ± 45%
• Projects (mortar, render): ± 5%
• Ready-mix (infrastructure): ± 50%
• Fabricator (pre-cast, fiber cement, cement based industry): ± 45%
• Projects (mortar, render): ± 5%
• Housing: ± 90%
• Cement based industry: ± 10%
• Housing: ± 90%
• Cement based industry: ± 10%±
±
Source: Internal Research
18
FINANCIAL UPDATE (9M2010)
SMGR Corporate Presentation
December 2010
1919
FINANCIAL SUMMARY (9M-2010 RESULTS)
EBITDA (Rp billion)
NET INCOME (Rp billion)NET INCOME (Rp billion)
EBITDA Margin (%)EBITDA Margin (%)
9M06 9M07 9M08 9M09 9M10
27.1 29.2 31.6 32.5 34.5
NET INCOME Margin (%)NET INCOME Margin (%)
9M06 9M07 9M08 9M09 9M10
15.8 17.9 20.3 23.1 24.5
354633792783
20631760
5001000150020002500300035004000
9M-06 9M-07 9M-08 9M-09 9M-10
25222408
1791
12721027
400800
12001600200024002800
9M-06 9M-07 9M-08 9M-09 9M-10
Description(Rp bn)
9M-09 9M-10 Change (%)
Net Revenue 10,404 10,292 (1.1)
Cost of Revenue 5,647 5,356 (5.1)
Gross Profit 4,757 4,936 3.8
Operating Income 3,059 3,207 4.8
EBITDA 3,379 3,546 4.9
Net Income 2,408 2,522 4.7
EPS (full amount) 411 425 3.5
20
STRATEGIC PROJECTSSMGR Corporate Presentation
December 2010
2121
Cement Finish GrindingPreparation Bored Pile
Coal StorageSteel Structure
Cement SiloPile Cap Preparation
Jetty Extension Area
TubanTuban
TonasaTonasa
TonasaTonasa
New Power Plant Area
New Plants Location
Capacity (mn tons)
Investment (US$ mn)
Construction
Start Completed
Java 2.5 304 2008 2012
Sulawesi 2.5 290 2008 2011
Sub Total 5.0 594
Power Plants Location
Capacity (MW)
Investment (US$ mn)
Construction
Start Completed
Sulawesi 2 x 35 114 2010 2012
TOTAL CAPEX US$ 708mn
STRATEGIC PROJECTS
Main SubstationElectrical Equipment Foundation
These strategic projects will ensure sustainability of the Company’s market leadership
Progress of Tonasa V Cement Plant Project Progress of Tuban IV Cement Plant Project
Progress of Power Plant Project - Tonasa 2 x 35 MW
Packer Tuban IV Cement Silo Tonasa V
PROGRESS OF CEMENT & POWER PLANT PROJECTS – Nov. 15, 2010
22
Description Weight Planning Actual
Preparation 0.61% 70.15% 76.62%
Management 3.77% 58.15% 68.45%
Engineering 4.34% 75.53% 82.86%
Procurement 61.94% 66.02% 68.15%
Construction 27.46% 37.01% 23.10%
Commissioning 1.88% 0.00% 0.00%
Total 100 % 56.95% 55.20%
Description Weight Planning Actual
Preparation 0.98% 74.47% 82.09%
Management 3.43% 64.81% 65.89%
Engineering 4.53% 92.74% 96.32%
Procurement 60.40% 72.98% 73.25%
Construction 28.67% 38.95% 38.97%
Commissioning 1.99% 3.52% 3.52%
Total 100 % 62.47% 62.91%
Description Weight Planning Actual
Preparation 2.63% 74.31% 73.35%
Management 4.60% 52.13% 52.18%
Engineering 5.75% 11.54% 13.10%
Procurement 55.13% 6.71% 4.49%
Construction 26.45% 0.56% 1.71%
Commissioning 5.44% 0.00% 0.00%
Total 100% 8.86% 8.01%
2323
PRODUCTION CAPACITY (Mio Ton)
20.5
24.027.0
17.716.715.2
1.00.7
1.8
2007 2008 2009 2010F 2011F 2012F 2013F
17.118.0 19.0
19.5
Export sales ▪
Domestic sales ▪
Export sales ▪
Domestic sales ▪
2424
Detailed capex schedule (US$ mm)Detailed capex schedule (US$ mm)
9 55 297 3 3 30.67
64.82
2 6 5 617
30
37 37 415
31 34
265
9
68
264
230
272
14
24
66
5
5
68
7
7 72
10
108
5
440
222
402383
102
56 57
2008 2009 2010 2011 2012 2013 2014
TotalHCMP & ICTMandatoryPower plants (under review)Capacity exp.OthersMaintenanceEfficiency Improvement
23
7
25
2008 2009 2010 2011 2012 2013 2014
% 3% 18% 32% 30% 8% 4% 5%
Key Items (Capex) (US$ Mio)Capacity Expansion 594
Power Plants 114
De-bottlenecking 106
Human Capital Master Plan & ICT 40
Others 101
Maintenance 227
Efficiency Improvement 35
Mandatory 45
Total Capex 1.262
CAPEX PLANNING PROFILE (2008 – 2014)
25
ENVIRONMENTAL FOCUSSMGR Corporate Presentation
December 2010
2626
Generate revenue
Emissions reduction programs
Carbon credits trading
Environmental Management
Reduce operating expense
Energy efficiency programs
Technology-driven cost savings
Promote company image
Domestic capacity expansion
Investment communities
SMGR IS FOCUSED ON DRIVING VALUE THROUGH AN ENVIRONMENTALLY-SUSTAINABLE BUSINESS PLATFORM
1. Alternative Fuel
The use of alternative fuel is the company’ strategy plan in order to improve non renewable energy efficiency as well as consume friendly environmental energy.
2. Waste Heat Recovery Power Generation
Utilize exhaust (waste gas) from pre-heater & cooler to produce electricity (power plant).
3. Shifting Coal Consumption from High-Medium CV to Low CV by 2011
4. Environmental Management System:
• Environment Monitoring Program• Environment Management Program• Resources Conservation Program• Community Development Program
• Environment Monitoring Program• Environment Management Program• Resources Conservation Program• Community Development Program
27
FUTURE OF INDONESIA’S CEMENT INDUSTRYSMGR Corporate Presentation
December 2010
2828
Pessimist : 5.5%
Moderate : 6.5%
Optimist : 7.0%
Annual Growth Rates
NATIONAL DEMAND IS FORECAST TO RISE TO 142mm TONS BY 2030
Indonesia Cement Market Growth 2010-2030
43 46 49 52 56 59 63 6772
8186
9298
104111
118125
133
117
40
76
142
163
0
20
40
60
80
100
120
140
160
180
2010 2015 2020 2025 2030
Pessimist
Moderate
Optimist
Indonesia’s demand growth will make it the largest cement producer in Southeast Asia
Source: Internal Research
2020:76 miotons
2030:142 mio
tons
2030:142 mio
tons
2929
DEMAND IN 2010-2030 WILL INCREASINGLY SHIFT TO THE OUTER ISLANDS
SMGR with its wide geographical presence is well positioned to tap the growththroughout Indonesia
Malaysia
Timor Leste
MalaysiaMalaysia
Timor LesteTimor LesteTimor Leste
22 50
10 39
3 20 3 16
1 6
2 11
Kalimantan17 MT (618%) Sulawesi
13 MT (406%)
Bali9 MT (403%)
Java28 MT (130%)
Sumatera29 MT (310%)
East of Indonesia 5 MT (625%)
2010
2030
Key
Figures are in MT
202020
8 7
2
534
Source: Internal Research
21,0
6,5
18,1
1,0
16,9
1,9
20,0
2,3
22,7
3,0
23,7
3,5
23,7
3,8
25,2
5,0
25,5
6,0
26,9
5,1
28,2
6,0
32,2
5,9
32,8
6,2
0
5
10
15
20
25
30
35
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Bag Consumption Bulk Consumption
SO FAR INFRASTRUCTURE EXPANSION HAS BEEN RELATIVELY SLOW
Bag and Bulk cement consumption 1997 – 2009 (million tons)
30
Source: Credit Suisse Research, Indonesia Cement Association, the Company’s data
3131
Transportation 2,458
Rai lways 11,960
Toll roads15,248
Power 3,695
Water resources 779
Project Value by Sector (US$ million) 2010-2014
Toll RoadProject Status
No. of projects
Project value
(USD mio)
Length(Km)
Cement demand
(MT)
Projects Ready For Offer 3 1,000 135 405
Priority Projects 8 2,474 342 1,026
Potential Projects 19 11,774 857 2,571
TOTAL 30 15,248 1,334 4,002
Source: National Development Planning Agency/Redwing estimates
INDONESIA PLANS TO INVEST HEAVILY IN INFRASTRUCTURE – PARTICULARLY TOLL-ROADS
TOTAL VALUE: US$34,140 mn
Details Toll Road Projects
3232
IN ADDITION TO CEMENT DEMAND FROM TOLL ROAD PROJECTS, THE MULTIPLIER EFFECT WILL FURTHER STRENGTHEN RETAIL CEMENT DEMAND
Riau480,000
Riau480,000
W. Java507,000
W. Java507,000
Lampung600,000
Lampung600,000
S. Sumatera216,000
S. Sumatera216,000
N. Sumatera408,000
N. Sumatera408,000
Jabotabek264,000
Jabotabek264,000
E. Java693,000
E. Java693,000C. Java
507,000
C. Java507,000
Bali24,000
Bali24,000
W. Sumatera165,000
W. Sumatera165,000
N. Sulawesi138,000
N. Sulawesi138,000
Potential cement demand : Toll road projects 2010 to 2014
Source: National Development Planning Agency/Redwing estimates
TOTAL CEMENT DEMAND: 4,002 MT
3333
SMGR LONG TERM STRATEGIC FOCUS
SMGRSMGR
THE OVERALL
STRATEGY
COMBINES
6 CRITICAL
ELEMENTS
THE OVERALL
STRATEGY
COMBINES
66 CRITICAL
ELEMENTS
1. Undertake Capacity Growth
2. Manage Energy Security
3. Enhance Company Image
4. Move Closer To The Customer
5. Enable Corporate Growth
6. Manage Key Risks
1. Undertake Capacity Growth
2. Manage Energy Security
3. Enhance Company Image
4. Move Closer To The Customer
5. Enable Corporate Growth
6. Manage Key Risks
APPENDIXSMGR Corporate Presentation
December 2010
35
INDONESIA AT A GLANCE
Area : 1.9 million km2
Capital City : Jakarta Significant Islands : Java, Sumatera, Kalimantan, Sulawesi, Nusa Tenggara Islands, Papua• Population (2009) : 230 Million• Population Growth : 1.3% p.a.
2008 2009 2010F• Annual GDP Growth : 6.1% 4.5% 5.5%• Annual Inflation rate : 11.1% 2.8% 5.5%• BI Rate (year end) : 9.25% 6.5% 7.25%• US$ Exchange Rate : Rp10,950 Rp9,400 Rp9,100
Singapore
Kuala Lumpur
Jakarta
*
Sumatera
Java
Kalimantan
Sulawesi
Papua
Nusa Tenggara Islands
3636
Main Office:Main Building of Semen Gresik
Jln. Veteran Gresik 61122 –Indonesia
Phone: (62-31) 3981731 -2, 3981745Fax: (62-31) 3983209, 3972264
Representative Office:Gedung The East, 18th Floor,Jln. Lingkar Mega Kuningan Kav. E3.2 No. 1, Jakarta 12950 – IndonesiaPhone : (62-21) 5261174 – 5Fax : (62-21) 5261176
www.semengresik.com
THANK YOUTHANK YOUIMPORTANT NOTICE
THIS PRESENTATION IS NOT AND DOES NOT CONSTITUTE OR FORM PART OF, AND IS NOT MADE IN CONNECTION WITH, ANY OFFER FOR SALE OR SUBSCRIPTION OF OR SOLICITATION, RECOMMENDATION OR INVITATION OF ANY OFFER TO BUY OR SUBSCRIBE FOR ANY SECURITIES NOR SHALL IT OR ANY PART OF IT FORM THE BASIS OF OR BE RELIED ON IN CONNECTION WITH ANY CONTRACT, COMMITMENT OR INVESTMENT DECISION WHATSOEVER. THE SLIDES USED IN THIS PRESENTATION ARE STRICTLY CONFIDENTIAL AND HAVE BEEN PREPARED AS A SUPPORT FOR ORAL DISCUSSIONS ONLY. THE INFORMATION CONTAINED IN THIS PRESENTATION IS BEING PRESENTED TO YOU SOLELY FOR YOUR INFORMATION AND MAY NOT BE REPRODUCED OR REDISTRIBUTED TO ANY OTHER PERSON, IN WHOLE OR IN PART. This presentation includes forward-looking statements, which are based on current expectations and forecast about future events. Such statements involve known / unknown risks uncertainties and other factors, which could cause actual results to differ materially from historical results or those anticipated. Such factors include, among others: ● economic, social and political conditions in Indonesia, and the impact such conditions have on construction and infrastructure spending in Indonesia;● the effects of competition;● the effects of changes in laws, regulations, taxation or accounting standards or practices;● acquisitions, divestitures and various business opportunities that we may pursue;● changes or volatility in inflation, interest rates and foreign exchange rates;● accidents, natural disasters or outbreaks of infectious diseases, such as avian influenza, in our markets;● labor unrest or other similar situations; and● the outcome of pending or threatened litigation.We can give no assurance that our expectations will be attained.
DISCLAIMERThe information contained in this report has been taken from sources which we deem reliable. However, none of PT Semen Gresik (Persero) Tbk and/or its affiliated companies and/or their respective employees and/or agents make any representation or warranty (express or implied) or accepts any responsibility or liability as to, or in relation to, the accuracy or completeness of the information and opinions contained in this report or as to any information contained in this report or any other such information or opinions remaining unchanged after the issue thereof.We expressly disclaim any responsibility or liability (express or implied) of PT Semen Gresik (Persero) Tbk, its affiliated companies and their respective employees and agents whatsoever and howsoever arising (including, without limitation for any claim, proceedings, action, suits, losses, expenses, damages or costs) which may be brought against or suffered by any person as a result of acting in reliance upon the whole or any part of the contents of this report and neither PT Semen Gresik (Persero) Tbk, its affiliated companies or their respective employees or agents accepts liability for any errors, omission or mis-statements, negligent or otherwise, in the report and any liability in respect of the report or any inaccuracy therein or omission therefrom which might otherwise arise is hereby expresses disclaimed.
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