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PT Astra International Tbk

9M 2016 - Results Presentation


Disclaimer
The materials in this presentation have been prepared by PT Astra International Tbk (Astra) and are general
background information about Astra activities current as at the date of this presentation and are subject to change
without prior notice.

This information is given in summary form and does not purport to be complete. Information in this presentation,
including forecast financial information, should not be considered as advice or a recommendation to investors or
potential investors in relation to holding, purchasing or selling securities or other financial products or instruments
and does not take into account their particular investment objectives, financial situation or needs. Before acting on
any information, readers should consider the appropriateness of the information having regard to these matters,
any relevant offer document and in particular, readers should seek independent financial advice.

This presentation may contain forward looking statements including statements regarding our intent, belief or
current expectations with respect to Astra businesses and operations, market conditions, results of operation and
financial condition, capital adequacy, specific provisions and risk management practices. Readers are cautioned not
to place undue reliance on these forward looking statements, past performance is not a reliable indication of
future performance. Astra does not undertake any obligation to publicly release the result of any revisions to these
forward looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of
unanticipated events.

We disclaim any responsibility or liability whatsoever arising which may be brought 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 Astra and/or its
affiliated companies and/or their respective employees and/or agents accepts liability for any errors, omissions,
negligent or otherwise, in this report and any inaccuracy herein or omission here from which might otherwise
arise.
1
Highlights
Net earnings per Car unit sales up 10% Lower revenue in Significant increase in
share down by & Motorcycle unit heavy equipment and loan-loss provisions at
6% at Rp279/share sales down 3% mining contracting Permata Bank

9 months ended 30th September


2016 2015 Change
Net revenue (Rp bn) 132,294 138,177 (4%)
Net income (Rp bn)* 11,277 11,997 (6%)
Net earnings per share (Rp) 279 296 (6%)
As at 30th As at 31st
Change
September 2016 December 2015
Shareholders funds (Rp bn)** 105,706 102,043 4%
Net asset value per share (Rp)** 2,611 2,521 4%
* Net income is profit attributable to owners of the parent, i.e. Astra International shareholders.
** Shareholders' funds and net asset value per share are based on equity attributable to owners of the parent.
The financial results for the nine months ended 30th September 2016 and 2015 as well as the financial position as at 30th September
2016 have been prepared in accordance with Indonesian Financial Accounting Standards and are unaudited. The financial position as
at 31st December 2015 has been prepared in accordance with Indonesian Financial Accounting Standards and audited in accordance
with the auditing standards established by the Indonesian Institute of Certified Public Accountants.

2
Business Structure
Automobile Motorcycle Menara Astra
Toyota Honda Brahmayasa Bahtera
Daihatsu Samadista Karya
Isuzu Component Astra Land Indonesia
BMW Astra Astra Modern Land
Peugeot Otoparts
UD Trucks
Others
AstraWorld

Automobile Heavy Equipment Construction Machinery Palm Oil Plantation Toll Road Water Utility Document Solution
Astra Credit
Other SAN Finance United Tractors Astra Agro Lestari MMS Palyja Astragraphia
Companies Komatsu Astra Traktor Nusantara MHI
Toyota Astra Finance Olein Refinery MTN Sea Port IT Solution
Finance Mining Contracting Tanjung TMJ Eastkal Astragraphia
Banking Pamapersada Nusantara Sarana Lestari TBS Information Technology
Motorcycle Bank Permata Kreasijaya Adhikarya
Federal Coal Mining Logistics Office Services
International Insurance Tuah Turangga Agung Commodity Trading SERA / TRAC Astra Graphia Xprins
Finance Asuransi Astra Astra-KLK Pte.Ltd Mobil88 Indonesia
Buana Construction Industry SELOG
Astralife Acset Indonusa TFLI

3
Market Position as at 30 September 2016
Astras car market share increased from 50% to 54% and Astras motorcycle market share
increased from 68% to 73%.
Komatsu maintained its leading market position with a 33% market share, down from 37% last
year.
Car Motorcycle
Others Suzuki Kawasaki
9% 1% 2%
Yamaha
Honda Toyota 24%
19% 35%

Nissan Heavy Equipment


1%
Suzuki
9% Others Honda
Mitsubishi Daihatsu 17% 73%
Isuzu Komatsu
9% 17%
1% 33%
Source : Gaikindo Source : AISI
Kobelco
14%

Hitachi Caterpillar
20% 16%
4
Source: United Tractors Internal Market Research
Financial Performances

5
Consolidated Income Statement
The Group is expecting to see a satisfactory result for the full year with the automotive
business continuing to perform well, some improvement expected in agribusiness and
modest recovery in the heavy equipment and mining operations, although concerns
remain over the level of loan-loss provisions at Permata Bank.
- Prijono Sugiarto, President Director -

In Billion Rupiah 9M16 9M15 Change


IDR / USD, average 13,323 13,357 (0%)
Net Revenue 132,294 138,177 (4%)
Gross Profit 25,737 27,263 (6%)
Selling, General and Administrative
(13,976) (14,520) (4%)
Expenses
Other Income (Expense) 1,210 2,091 (42%)
Shares of Results of Joint Ventures and
3,331 3,557 (6%)
Associates
Income Tax Expenses (3,071) (3,780) (19%)
Non-controlling Interests (1,954) (2,614) (25%)
Net Income 11,277 11,997 (6%)

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Astra Portfolio as at 30 September 2016
9M16 9M15
Share of Net Income (%) Ownership %
Auto Non-Auto Auto Non-Auto
4W Automotive
SO Toyota, Daihatsu, Isuzu 100
Toyota Astra Motor 51 31 26
Astra Daihatsu Motor 32
Isuzu Astra Motor Indonesia 50

2W Automotive
Astra Honda Motor 50 20 17
Honda SO 100

Component
Astra Otoparts 80 2 1

Financial Services
Astra Sedaya Finance 86
100 2001 2014 2015 9M16
Federal International Finance
Toyota Astra Financial Services 50
Komatsu Astra Finance 50 24 (6) 21 4
SAN Finance 60 Auto (Incl. auto
Asuransi Astra Buana 96 related Financial 89% 63% 76% 77%
Permata Bank 45 Services)
Astra Life 50

Heavy Equipment & Mining


United Tractors 60 Non-Auto 11% 37% 24% 23%
Pamapersada Nusantara 60
Tuah Turangga Agung 60 17 28
Acset Indonusa 30
Traktor Nusantara 50

Agribusiness
Astra Agro Lestari 80 8 1

Infrastructure, Logistics, IT & Property


Marga Mandalasakti 79
SERA 100
Palyja 49 4 2
Astra Graphia 77
Menara Astra 100 7
Brahmayasa Bahtera 60
Consolidated Balance Sheet
Astras net asset value per share of Rp2,611 at 30 September 2016 was 4% higher than at the end of
2015.
Net cash, excluding the Groups financial services subsidiaries, was Rp5.5 trillion at 30th September
2016, compared to net cash of Rp1.0 trillion at the end of 2015. The Groups financial services
subsidiaries had net debt of Rp41.9 trillion, compared to Rp44.6 trillion at the end of 2015.
In Billion Rupiah 30-Sep-16 31-Dec-15 Change
Cash and Cash Equivalents 27,216 27,102 0%
Trade Receivables 19,270 17,776 8%
Inventories 15,916 18,337 (13%)
Financing Receivables 61,751 60,105 3%
Investment in Joint Ventures and Associates 33,293 29,640 12%
Fixed Assets 41,762 41,702 0%
Other Assets 50,769 50,773 (0%)
Total Assets 249,977 245,435 2%
Short-term Borrowings 11,380 11,975 (5%)
Trade Payables 20,820 20,557 1%
Long-term Debt 52,241 58,674 (11%)
Other Liabilities 33,733 27,696 22%
Total Liabilities 118,174 118,902 (1%)
Equity Attributable to the Owners of The Parent 105,706 102,043 4%
Non controlling Interest 26,097 24,490 7%
Total Equity 131,803 126,533 4%
Net Debt 36,405 43,547 (16%)
Net Cash (Excl. Financial Services) (5,474) (1,034) 429%
8
Consolidated Cash Flow
As at 30 September 2016, Astras ending consolidated cash balance (incl. Bank Overdraft)
was Rp27.2 trillion.
In Billion Rupiah 9M16 9M15 Change
Cash generated from operations 18,491 23,426 (4,935)
Tax Payments (3,525) (4,327) 802
Interest Received 1,020 951 69
Dividend Received 2,460 2,682 (222)
Net Cash flow provided from Operating Activities 18,446 22,732 (4,286)
Net Capex (5,216) (5,274) 58
Net Investment (2,873) (2,494) (379)
Other Investing 160 (995) 1,155
Net Cash flow used in Investing Activities (7,929) (8,763) 834
Net Proceeds of Debt (3,804) (4,808) 1,004
Finance Costs Paid (1,627) (442) (1,185)
Dividend Payments (5,550) (7,538) 1,988
Other Financing 1,230 20 1,210
Net Cash flow used in Financing Activities (9,751) (12,768) 3,017
Increase in Cash 766 1,201 (435)
Opening Cash Balance (incl. Bank Overdraft) 27,072 20,728 6,344
Exchange Rate Adjustment (662) 2,682 (3,344)
Closing Cash Balance (incl. Bank Overdraft) 27,176 24,611 2,565
9
Business Updates

10
Automotive Wholesale Car Market
Astras car sales were 10% higher at 422,000
421,000 units, resulting in an increase in market share
from 50% to 54%.
2%
9M16 9M15
783,470 764,481

Others 7.2% Commercial


Nissan 1.4% Others 8.4%
147,902 Commercial
18.9% Commercial Nissan 2.7%
Others 31.7% 209,607
Honda 19.4%
Others Honda 15.4% 27.4% Commercial
360,976
46.1% 382,322 33.2%
Suzuki 8.7 % 50.0%
Suzuki 12.1%
Mitsubishi
9.4% Mitsubishi
Commercial Isuzu 1.5% 11.4%
11.1% Daihatsu 4x2 & 4x4 Commercial Isuzu 1.9%
17.0% 625,414 18.2% Daihatsu 4x2 & 4x4
79.7% 16.6% 540,176
Astra 70.6%
4x2 & 4x4 Astra 4x2 & 4x4 4x2 & 4x4
422,494 4x2 & 4x4
59.2% 382,389 79.8% 56.5%
53.9% 87.6%
Toyota 50.0%
35.2% Toyota
31.5%
Sedan 1.3% Sedan 1.4% Sedan 48.2% Sedan 2.1% Sedan 2.0% Sedan 52.8%
M/S AI Product Brand Segment AI Product M/S AI Product Brand Segment AI Product
9M16 Segment M/S 9M15 Segment M/S
11
Source: Gaikindo
Automotive Car Product Launches
During first nine month 2016, Astra has launched 10 new models and 7 revamped models.

Toyota All New Fortuner Lexus GSF Isuzu Elf NMR


January 2016 March 2016 May 2016

Toyota Sienta BMW i8 Astra Daihatsu Sigra


July 2016 August 2016 August 2016

12
Automotive Wholesale Motorcycle Market
Astra Honda Motors domestic sales were 3% lower at 3.2 million units; however, its market
share increasing from 68% to 73%.
10%
9M16 9M15
4,351,397 4,821,191

Kawasaki 2%
Suzuki 1.8% Sport/Others
Kawasaki 1.8% Sport/Others
12.8%
Suzuki 1.1% Sport/Others Sport/Others Yamaha 26.8%
Yamaha 47.2% 12.6% 1,371,633
1,054,006 28.5%
24.2% Sport/Others
Sport/Others
5.1%
8.2%

Scooter
Scooter 3,639,362
Scooter
3,401,617 75.5%
Scooter Honda Scooter 2,806,750
Honda Scooter 78.2%
2,642,075 3,266,227 2,806,750 77.1%
3,174,150 2,642,075
77.7% 67.7% 85.9%
72.9% 83.2%

Cub Cub Cub Cub Cub Cub


272,634 272,634 400,637 293,987 293,987 563,206
8.6% 68.1% 9.2% 9.0% 52.2% 11.7%
Brand Honda Segment Honda Product Segment Brand Honda Segment Honda Product Segment
9M16 M/S 9M15 M/S
13
Source: AISI
Automotive Motorcycle Product Launches
During first nine month 2016, Astra Honda Motor has launched 6 new models and 8
revamped models.

Honda CBR150R Honda Vario 150 eSP Honda Supra GTR 150
February 2016 February 2016 May 2016

Honda CBR 250 RR Honda BeAT Sporty Esp Honda CB 150 Street fire
July 2016 August 2016 August 2016
14
Automotive Components
Net income at Astra Otoparts, the Groups component business, increased 59% to Rp284
billion with higher revenue from its OEM, after market and export segments.

Revenue (IDR billion) Net Income (IDR billion)

10% 59%

9,557 284
10% 8,670
11% 65

42% 179
42%
30

219
48% 47% 149

9M16 9M15 9M16 9M15


Export After Market OEM Shares of Results of Joint Ventures & Associates
Consolidated Income

15
Financial Services
Net income from the Groups financial services businesses declined 31% to Rp2.1 trillion. Higher earnings
at Federal International Finance and Toyota Astra Financial Services were more than offset by a decline in
the contribution from the Groups other financial services businesses, particularly Permata Bank which
recorded a net loss following a significant increase in loan-loss provisions.

Unit Financed 9M16 9M15 % Amount Financed (Rp bio) 9M16 9M15 %
ACC (new & used cars) 132,816 125,450 6 ACC (Incl. HE) 19,864 17,064 16
TAFS 58,982 49,637 19 TAFS 9,844 7,501 31
Auto
Total 4W 191,798 175,087 10 Auto Total 4W 29,708 24,565 21
FIF (Incl.Electronics)000 2,559 2,351 9 FIF 24,027 21,166 14
ACC (HE - Fleet) 344 729 (53) Total Auto 53,735 45,731 18
SANF 306 1,577 (81) SANF 2,102 2,551 (18)
HE
KAF 222 40 455 HE KAF* 1,245 679 83
Total SANF & KAF 528 1,617 (67) Total HE 3,347 3,230 4

Asuransi Astra PermataBank


Lower net income by 1% to Rp697 billion. 9M16 consolidated net loss Rp1.2 trillion (9M15:
9M16 Gross Written Premium down by 8% year net income Rp938 billion)
on year to Rp3.0 trillion. Loan book decreased by 16% to Rp114 trillion.
RBC : 266%, requirement 120%. LDR 86% & CAR 19%.
Gross-NPL ratio up from 2.7% at the end of 2015
* Average exchange rate USD/IDR: 13,323 (9M16) & 13,357 (9M15) to 4.9%. 16
Heavy Equipment & Mining
United Tractors, which is 59.5%-owned, reported net income 44% lower at Rp3.1 trillion, due to lower heavy equipment
and mining contracting revenue, caused largely by low coal prices. There was also a negative impact of the stronger
rupiah on translation of its US dollar monetary assets, whereas the previous year saw a positive impact on translation.
Revenue (Rp bio) Mining Contracting
11% 38,295
33,897 853
3,320
1,290 Coal OB
4,226
Production Removal
23,368 3% 12%
17,731
594.7
524.2
10,650 10,754 78.6 81.4

9M16 9M15 9M16 z 9M15


Construction Machinery Mining Contracting
Coal Production (mn tonnes) Overburden Removal (mn bcm)
Mining Construction Contracting

Komatsu Unit Sales Coal Mines: Sales


12% 1,799 46%
1,588
15%
9%
34%
49%

22% 5,746
16%
3,946
26% 29%

9M16 9M15 9M16 9M15


TTA Mine (all in thousand tonnes)
17
Mining Forestry Construction Agro
Agribusiness
Astra Agro Lestari, which is 79.7%-owned, reported net income of Rp1.1 trillion, up from Rp145 billion,
due to the benefit of the stronger rupiah on the translation of its US dollar monetary liabilities.

Revenue (Rp bio) CPO Yield (tonne/Ha)


10,347
9,587 7% 25%
3,247
3,060
Export
Local 3.49

6,527 7,100 2.60

9M16 9M15 9M16 9M15


CPO Production & Sales (K tonnes) Area Maturity (K Ha)*
298 298
37 41
CPO CPO
Production Sales Immature
19% 12%
1,282 261 Mature 257
1,044
730 826

231 300

9M16 9M15 9M16 9M15 18


Production Sales Olein Sales * Incl. plasma plantation
Infrastructure & Logistics
MMS Vehicle Traffic Volume (K unit)

3%

The 72.5km Tangerang-Merak toll road, operated by


79.3%-owned Marga Mandalasakti, achieved a 3%
35,395 34,287 increase in traffic volumes to 35 million vehicles.

9M16 9M15

SERA Unit in Contract (unit)


6%

Serasi Autorayas net income increased by 43% to


Rp68 billion. Higher net margins in used vehicle
24,117 25,578 sales and logistics businesses outweighed the effect
of an 6% decline in contracted vehicles in its car
leasing and rental business.

9M16 9M15
19
Information Technology
Astra Graphia, which is 76.9%-owned, reported a 15% decline in net income to Rp137
billion, despite an increase in revenue mainly due to lower net margins.

Astragraphia Revenue (Rp bio) Astragraphia Net Income (Rp bio)

1,704 15%
1,605

39%
42% 44%
AGIT

160
11% 137
61%
58%
AGDS

9M16 9M15 9M16 9M15

20
Property

Net Income (Rp bio)


Net income from the Groups new property
division was Rp84 billion, significantly higher
than the Rp5 billion achieved in the same period
1,580%
in 2015.

84 Construction continues to progress at the 92%-


sold Anandamaya Residences, the Groups 60%-
owned luxury residential development project
located in Jakartas Central Business District
which, together with the Groups adjacent grade
5 A office tower, Menara Astra, are on schedule for
9M16 9M15 completion in 2018.

21
Appendices

22
Divisional Net Revenue and Net Income
Divisional Net Revenue
In Billion Rupiah 9M16 9M15 Change
Automotive 69,239 70,347 (2%)
Financial Services 13,002 12,742 2%
Heavy Equipment & Mining 33,601 38,207 (12%)
Agribusiness 9,587 10,347 (7%)
Infrastructure & Logistics 5,364 5,037 6%
Information Technology 1,495 1,482 1%
Property 6 15 (60%)
Total 132,294 138,177 (4%)

Divisional Net Income


In Billion Rupiah 9M16 9M15 Change
Automotive 5,995 5,329 12%
Financial Services 2,074 2,996 (31%)
Heavy Equipment & Mining 1,893 3,342 (43%)
Agribusiness 913 116 687%
Infrastructure & Logistics 213 86 148%
Information Technology 105 123 (15%)
Property 84 5 1,580%
23
Total 11,277 11,997 (6%)
Car Products Launched in 9M16
Models Launched Launching Period Engine Capacity Prices (Rp mio)
Toyota All New Fortuner Jan16 2,400cc 2,700cc 442-631.5
Daihatsu Sirion Sport Jan16 1,300cc 168.3-179.3
Toyota Rush Feb16 1,500cc 237.8-262.5
Daihatsu Terios Feb16 1,500cc 228.1-242.2
Lexus GSF Mar16 2,000cc 1,245
Lexus GS Mar16 2,000cc 1,185
Lexus LX Mar16 5,700cc 3,015
BMW M2 Apr16 3,000cc 1,349*
Isuzu NMR 71T May16 4,500cc 387.5-302.5
BMW X1 18i May16 1,500cc 619*
BMW X1 18i xLine May16 1,500cc 659*
Toyota Sienta Jul16 1,500cc 230-295
BMW i8 Aug16 1,500cc 3,499*
Astra Daihatsu Sigra Aug16 1,000cc-1,200cc 106.6-147.4
Astra Toyota Calya Aug16 1,200cc 132.5-150
Isuzu MU-X 2.5 VGS Aug16 2,500cc 448-478
Isuzu D-MAX 2.5 VGS Aug16 2,500cc 341-514.5
*off the road price

24
Motorcycle Products Launched in 9M16
Models Launched Launching Period Engine Capacity Prices (Rp mio)
Honda BeAT POP eSP Jan16 110cc 14.3-15
Honda CBR 150 R Feb16 150cc 32.5-33.3
Honda CBR 500 R Feb16 500cc 144
Honda PCX 150 Feb16 150cc 39.8
Honda Vario 150 eSP Feb16 150cc 20.7
Honda Vario 125 eSP Feb16 125cc 17.7-18.3
Honda CB 500 F Feb16 500cc 133-139
Honda CB 500 X Feb16 500cc 147
Honda CB 650 F Feb16 650cc 235
Honda Supra GTR 150 May16 150cc 21.3-21.5
Honda CBR 250 RR Jul16 250cc 47.8-56.2
Honda BeAT Sporty eSP Aug16 110cc 14.7-15.4
Honda CB 150 R Street Fire Aug16 150cc 25.6-26.6
Honda Sonic 150R Aug16 150cc 21.4-22

25
National Market Data
9M16 9M15
Major Brands
Wholesale Astra Wholesale Astra
Toyota - Vios/Limo, Camry, Altis; Honda - City, Civic,
Sedan 11,153 48.2% 14,898 52.8%
Accord; BMW - 3 Series, 5 Series
Toyota - Avanza, Innova, Fortuner, Rush, Sienta;
Honda - Mobilio, HR-V, BR-V, Jazz; Daihatsu - Xenia,
4X2 & 4X4 465,414 57.6% 421,407 56.7% Terios, Sirion; Suzuki - Ertiga, APV; Mitsubishi
Pajero Sport, Mirage, Outlander Sport; Nissan
Livina, X-Trail, March
Car

Daihatsu -Gran Max; Suzuki Carry, APV;


Commercial 147,902 31.7% 209,607 33.2% Mitsubishi - Canter, L-300, Strada; Isuzu Elf, Giga;
Panther, D-Max; Toyota - Hi-Lux, Dyna, Hi-Ace
Astra Toyota - Agya, Calya; Astra Daihatsu - Ayla,
LCGC 159,001 64.4% 118,769 56.3% Sigra; Honda - Brio Satya; Datsun - GO Panca;
Suzuki - Karimun Wagon R
Total 783,470 53.9% 764,681 50.0%
Honda - Supra Series, Revo Series, Blade; Yamaha
Cub 400,637 68.1% 563,206 52.2% Jupiter MX King, Jupiter ZX, Vega Force; Suzuki
Motorcycle

Smash; Kawasaki - ZX130, Edge


Honda - BeAT, Vario, Scoopy; Yamaha - Mio, N-Max,
Scooter 3,401,617 77.7% 3,639,362 72.9%
Fino; Suzuki Address, Nex
Honda - CB 150 R Street Fire, Verza, CBR 150R,
Sport & Others 549,143 47.2% 618,623 26.8% Sonic 150R; Yamaha - V-ixion R - 15, Xabre, Byson;
Suzuki - Satria F 150; Kawasaki Ninja
Total 4,351,397 72.9% 4,821,191 67.7%

26
Equity Research Contact Details
No Brokerage Analyst Email
1 Bahana Securities Leonardo Henry Gavaza leonardo@bahana.co.id
2 BCA Sekuritas Darmawan Halim darmawan.halim@bcasekuritas.co.id
3 CIMB Securities Indonesia Erindra Krisnawan erindra.krisnawan@cimb.com
4 Ciptadana Securities Arief Budiman budimanarief@ciptadana.com
5 Citigroup Investment Research Ferry Wong Ferry.wong@citi.com
6 CLSA Indonesia Sarina Lesmina sarina.lesmina@clsa.com
7 Credit Suisse Securities Indonesia Jahanzeb Naseer jahanzeb.naseer@credit-suisse.com
8 Danareksa Sekuritas Stefanus Darmagiri stefanus.darmagiri@danareksa.com
9 DBS Vickers Maynard Priajaya Arif maynard.arif@id.dbsvickers.com
10 Deutsche Verdhana Securities Reggy Susanto nicholas.nugroho@db.com
11 Goldman Sachs Pramod Kumar pramod.kumar@gs.com
12 HSBC Tarun Bhatnagar tarunbhatnagar@hsbc.com.sg
13 IndoPremier Securities Chandra Pasaribu chandra.pasaribu@ipc.co.id
14 J.P. Morgan Aditya Srinath aditya.s.srinath@jpmorgan.com
15 Mandiri Sekuritas Ariyanto Kurniawan ariyanto.kurniawan@mandirisek.co.id
16 Macquarie Capital Securities Jayden Vantarakis jayden.vantarakis@macquarie.com
17 Maybank Kim Eng Securities Isnaputra Iskandar isnaputra.iskandar@maybank-ke.co.id
18 Merrill Lynch Swati Chopra swati.chopra@baml.com
19 Morgan Stanley Andri Ngaserin andri.ngaserin@morganstanley.com
20 Nomura Indonesia Elvira Tjandrawinata elvira.tjandrawinata@nomura.com
21 Onix Capital Bagus Hananto bagus.hananto@ocap.co.id
22 Reliance Securities Robertus Yanuar Hardi robertus@reliance-securities.com
23 RHB OSK Securities Indonesia Andrey Wijaya andrey.wijaya@id.oskgroup.com
24 Trimegah Securities Frederick Daniel frederick.daniel@trimegah.com
25 UBS Securities Indonesia Ronald Liem ronald.liem@ubs.com
26 UOB Kay Hian Securities Stevanus Juanda stevanusjuanda@uobkayhian.com
27 Valbury Asia Securities Budi Rustanto budi.rustanto@valbury.com
27
28 Yuanta Securities Indonesia Kim Kwie Sjamsudin kim.kwie@yuanta.co.id
For further information please contact:
PT Astra International Tbk
Corporate Investor Relations
P: (+62 21) 652 2555
F: (+62 21) 6530 4953
E: investor@ai.astra.co.id

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