Hong Kong Exchanges and Clearing Limited and The Stock Exchange... Limited (the “Stock Exchange”) take ...

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