Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. (Incorporated in the Cayman Islands with limited liability) (Stock Code: 8061) OVERSEAS REGULATORY ANNOUNCEMENT The following is a translation of an announcement of PT Link Net Tbk (an indirect subsidiary of AcrossAsia Limited (“AcrossAsia”) listed on the Indonesia Stock Exchange in which AcrossAsia has an approximately 18.5% effective interest) published on the Indonesia Stock Exchange. Hong Kong, 11th November, 2014 1 " Letter No. Company Name Stock Code Attachment Subject SB-104/CSL/LN/BEI/XI/14 PT Link Net Tbk. LINK 1 Disclosure of Information that should be known by the Public Submission of Company's Q3 2014 Performance Slide Presentation The Company/Issuer submits the following information: On 7 November 2014, the Company experienced material events/received material information/facts, namely: Merger or Consolidation of business enterprises Purchase of Shares Formation of Joint Venture Stock Splits Dividend Stocks Revenues from Its Extraordinary Dividends Acquisition or Loss of Contracts Important Product or New Invention Means Changes in Control or Important Changes in Management Repurchase announcements or Payment of Debt Securities Additional sales of securities to the Society or the Materials on limited numbers Purchasing or Selling Assets The Material Losses Labor disputes are relatively important Employees strike Important Legal claims against the Company, and or Directors And Commissioners Filing of the Company's Offer to Purchase Other Replacement of Trustee Changes in the Company Fiscal Year Development of the Debt Restructuring Fire Production Facilities Catastrophe Cessation Some or All of the Company's operating activities and / or subsidiaries and / or Business Segment as Business considerations Main Products or experiencing freezing conditions Potential Causes Freezing Main Products Statement Disadvantaged Pay Loan Interest and / or Principal Received a Default Notice of Creditors Revocation of Permit Part or All The addition of Business Unit Establishment of a New Subsidiary or Associated Companies Changes in Use of Proceeds from Public Offering of which has been Specified in Prospectus Company holiday 2 Others: - Submission of Company's Q3 2014 Performance Slide Presentation The impact of events, information or facts are important to the Company as follows: Impact on Operational Activities: Impact on the Company’s financial condition and financial projections: Impact of Law: Impact on the Company’s business continuity: Sender Position Date and Time Attachment Dicky Setiadi Moechtar Corporate Secretary 09 November 2014 7:32:51 LinkNet Q3 2014 Update.pdf This document is an official document of PT Link Net Tbk. which does not require a signature since it is electronically generated by the electronic reporting system. PT Link Net Tbk. takes full responsibility for the information contained in this document. 3 PT Link Net Tbk Q3 results update November 2014 4 Key highlights – 9M 2014 to 30th September 2014 Strong momentum in both growth and profitability over the nine months to 30 September 2014: - Revenue of Rp1,550.2 billion up 28.2% - EBITDA of Rp892 billion up 34.6% - NPAT of Rp421 billion up 52.4% Continued network expansion which at 30 September 2014 comprised: - 1.4 million homes passed - 372,373 broadband RGUs - 343,472 Cable TV RGUs Maintained high bundling rates: - 93% of customers subscribe to both NGBB and Cable TV Services, up from xx% from the prior year Completion of Private Placement: - Transaction was completed 3rd November 2014, where First Media, Asia Link Dewa and other shareholders sold a total of approximately 30% of Link Net Shares - Post transaction, FM is the single largest shareholder 5 2 Link Net’s key performance indicators Homes Passed (‘000) RGUs (‘000) ARPU (IDR ‘000) 1,355 1,313 716 685 328 Jun-14 Sep-14 185 343 150 151 357 372 206 203 218 Jun-14 Sep-14 2012 2013 9M 2014 Broadband Cable TV Broadband Cable TV 6 3 Strong revenue growth continues in 9M2014 Revenue (IDR bn) 1,550 40 1,209 70 170 51 72 139 579 534 390 422 22 52 139 16 10 692 205 558 193 237 3Q2013 3Q2014 Broadband - residential 1 22 60 9M 2013 Broadband - Enterprise “Others” primarily includes revenue from installation charges, sales of cable modems and promotional items Cable TV 9M 2014 Advertising Others1 7 4 Continued margins improvement and profitability Adjusted EBITDA(1) (IDR bn) Net income (IDR bn) 27.1% 57.6% 22.8% 54.8% 892 421 663 276 9M 2013 9M 2014 9M 2013 9M 2014 Adjusted EBITDA and Net income margins 1 Adjusted EBITDA is a non-GAAP measure and is defined as the Company’s profit for the year before finance costs, finance income, share of loss in associate, income tax expenses, depreciation and amortisation and is adjusted by adding back certain non- recurring expenses to the Company’s profit for the year. The non-recurring expenses during the period under review comprise: (1) impairment charges related to a one time policy change of IDR 13.1 bn which reflected charges taken in connection with the change in the calculation of churn and the discontinuation of the Selected Promotional Package and (2) fees related to corporate action of the Company amounting to IDR 2.1 bn for 9M 2013 8 5 Continued expansion funded by cash Net Cash with large leverage capacity5 (IDR bn) Capex breakdown1 (IDR bn) Network-related capex includes IDR 248bn spent on one pair of subsea cable between Singapore and Jakarta 444 995 216 45 173 Net Cash 542 228 26 1,000 135 777 221 8 62 381 151 2013 3Q 2014 Network-related Capex 9M 2014 2 CPE Capex 3 2014E Other Capex Total Cash Total Debt 6 Column2 4 1 Capital expenditure represents additions to property, plant and equipment (PPE) Network-related capital expenditure is the sum of additions to head-end electronics and network service control points 3 CPE capital expenditure is the sum of additions to converters, decoders, cable modem and set-top boxes 4 Other capital expenditure is the sum of additions to land, buildings, leasehold improvements, furniture and fixtures, office equipment and vehicles 5 Total debt and cash position as of September 2014 6 Total debt includes vendor financing 2 9 6 Profit and loss summary Period ending December 31, 9M ending September 30, 3M ending September 30, (IDR bn) 2011 2012 2013 9M 2013 9M 2014 3Q 2013 3Q 2014 Revenue 582.6 1,300.6 1,664.6 1,209.1 1,550.2 421.9 534.2 Adjusted EBITDA 329.4 701.8 900.6 662.9 892.4 228.4 311.4 (113.0) (207.5) (280.5) (199.2) (278.6) (73.4) (97.7) Operating Profit 216.4 494.3 593.8 448.5 613.8 141.9 213.7 Margin % 37.1% 38.0% 35.7% 37.1% 39.6% 33.6% 40.0% Finance Income 17.5 38.4 24.3 20.2 13.2 3.4 5.0 (33.3) (72.1) (120.8) (94.6) (37.9) (53.2) (17.7) - (0.9) (10.0) (4.0) (24.2) (3.9) (9.0) Profit Before Tax 200.6 459.7 487.3 370.0 565.0 88.2 192.0 Tax Expense (52.1) (120.7) (125.1) (94.0) (144.4) (22.1) (49.1) Net Income 148.4 339.0 362.2 276.1 420.6 66.1 142.8 Margin % 25.5% 26.1% 21.8% 22.8% 27.1% 15.7% 26.7% D&A Finance Cost Share of Loss in Associate 10 7 Balance sheet summary As at June 30, As at Sep 30, 2014 2014 Cash and Cash Equivalents 379.3 443.8 Trade Receivables1 134.4 132.8 Total Current Assets 566.1 620.5 Property, Plant and Equipment - Net 2,442.1 2,569.4 Total Non-Current Assets 2,857.8 2,980.8 Total Assets 3,423.9 3,601.3 Payables1 108.5 92.7 Current Maturities of Long-Term Debt 70.0 66.3 Total Current Liabilities 448.7 493.7 Long-Term Debt – Net of Current Maturities 163.3 149.3 Total Non-Curent Liabilities 220.5 210.1 Total Liabilities 669.2 703.8 Total Equity 2,754.6 2,897.4 Total Liabilities and Equity 3,423.9 3,601.3 (IDR bn) Current Assets Non-Current Assets Current Liabilities Net Cash of IDR 228 bn Non-Current Liabilities 1 11 Trade receivables include receivables from both third-parties and related parties. Payables includes payables to both third parties and related parties" 8 This announcement, for which the Directors of AcrossAsia (namely, executive Director: Mr. Vicente Binalhay ANG; and independent non-executive Directors: Mr. Albert Saychuan CHEOK, Dr. Boh Soon LIM and Mr. Thomas Yee Man LAW) collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on the Growth Enterprise Market (the “GEM”) of the Stock Exchange for the purpose of giving information with regard to AcrossAsia. The Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this announcement misleading. This announcement will remain on the “Latest Company Announcements” page of the GEM website at www.hkgem.com for at least seven days from its date of publication and on AcrossAsia’s website at www.across-asia.com. 12
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