| GLOBAL MEDIACOM CONDUCTED AGMS 2008 AND EGMS |
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Jakarta, Indonesia June 18, 2009 PT Global Mediacom Tbk (Mediacom or the Company) conducted its Annual General Meeting of Shareholders (AGMS) today to report on the financial statement for the year ended December 31, 2008. The yearly financial report has been accepted and ratified as well as approved in the AGMS. The Board of Directors and Board of Commissioners were also granted the full release and discharged (acquit et de charge) from their operational and supervisory duties conducted during the financial year ended December 31, 2008. The AGMS determined and granted authority to the the Board of Directors the appropriation of the Company's net income, as follows: 1. Distributed as final cash dividend to shareholders of the Company where each shareholder will receive proportionally according to the number of shares, such as every 1 (one) shareholder will be entitled to receive a cash dividend of Rp3.5 (three point five rupiah). The amount of cash dividends will be announced in newspapers and the receipt of cash dividend is subject to tax in accordance with the prevailing provisions of the tax laws. 2. Distributed as bonuses. The Board of Directors of the Company was given the authority to determine the amount of bonuses and the implementation of the dividend payment with the approval by the Board of Commissioners of the Company. 3. The remaining net income was decided to be recorded as unappropriated retained earnings to streng then the Company's capital.
? Determine the salaries and benefits for members of the Board of Directors. On the same day, Mediacom also conducted the Extraordinary General Meeting of Shareholders (EGMS) to approve the plan of the entire or a significant portion of the Company?s assets and/or provide a Corporate Guarantee and giving authority by Board of Commissioners to the Board of Directors of the Company in connection with the execute ESOP that had been previously issued by the Company. The Company?s business performance in 2008 Mediacom booked a 15% increase in consolidated revenues for the fiscal year ended December 31, 2008, to Rp5,535 billion as compared to the same period last year of Rp4,819 billion. The largest component of total revenues were derived from content and advertising-based media, which contributed Rp3,780 billion, an increase of 32% as compared to the contribution as at year end 2007 in the amount of Rp2,870 billion. In addition, the other significant component was derived from subscriber-based media, which contributed Rp776 billion, an increase of 102% as compared to year end 2007 of Rp384 billion. Meanwhile, in 2008, the information technology segment contributed Rp978 billion, a 26% decrease from total consolidated revenues as at year end 2007 of Rp1,321 billion. Meanwhile, operating income and net income fell in 2008, which was mainly due to the rise in the operating expenses that caused of the increasing of operational cost of Linktone, the purchasing of Euro 2008 program and FTV program as well as adding new channels in Indovision. In addition, it was caused by loss on foreign exchange. Revenues Contribution The Company?s strategies in 2009 Hary Tanoesoedibjo, Group President and CEO of Mediacom said ? Since mid-year 2008, we have retooled our expansionary policy to a more defensive and more prudent approaches. We have opted to concentrate on enhancing the values of our string of strategic media assets which we have accumulated in the past years while maintaining a close observation on the direction of the economy and the media industry. In 2008, we produced a thorough analysis of our overall businesses and determined that our core competencies and competitive advantages are in (1) content and advertising based media, (2) subscriber based media, and (3) information technology. With regard to content and advertising-based media, Hary Tanoesoedibjo Group President and CEO of PT Global Mediacom Tbk said, ?The strategy of our content and advertising based revenues is to totally integrate our media platforms to fully capitalized on the consolidation and synergy in order to strengthen and grow our various businesses to achieve continuous long-term results.? Hary Tanoesoedijo added ?We are particularly proud of Mediacom?s resilience during 2008 of retaining the leading position as the number one television broadcaster. RCTI ended the year as the number one television station in Indonesia by providing television audiences with innovative and appealing programs.? Meanwhile, for the information technology segment, Hary said, ?Our acquisition of Linktone Ltd shall further enhance Infokom?s business in providing Wireless Value Added Services. Linktone is the leading provider of consumer wireless interactive entertainment services in China with very sophisticated products that may be applied in the Indonesian market. We intend to integrate our Indonesian and China operations to provide the Indonesian market with innovative WVAS products.? Hary added ?In 2009, Infokom will be more aggressive in developing its services as an Internet Service Provider in order to be more integrated and achieve synergies along with the development of its broadband services. In addition, Infokom will position itself as a Gateway Provider for Value Added Services. Infokom?s strategy in its telecommunication businesses in 2009 includes improvements to the asset management procedures and increase efficiencies by reducing the size of the organization.? While, for subscriber-based media segment, Hary Tanoesoedibjo explained, ?We will position PT MNC Sky Vision with its two brands consisting of Indovision and Top TV as the leading provider of the general family entertainment. Indovision intends to increase its subscriber base by developing its office distribution network nationally? Indovision has launched a new satellite in May 2009 for our pay TV operations to replace the existing aging model. The launch of the new satellite will have the capacity to transmit 150 channels which will more than double our current channel line-ups (excluding channels for radio broadcast) being offered to our subscribers. In 2009, Indovision will launch additional services to enrich the customer?s viewing experience by expanding channel selection to more than 100 channels, to be the first pay TV operator in providing the broadcast of high definition channels, and offering many other services such as Personalized Video Recorder (PVR), pay per view, and video on demand. We remain highly optimistic on the favorable prospects of our core businesses in 2009. Our advertising based media still has ample room to grow due to Indonesia?s low gross adspend per capita of US$11 in 2007 as compared to US$38 for the Phillipines and US$299 for Singapore. Zenith Optimedia has forecasted Indonesia?s adspend to reach the 20th position globally and the largest in South East Asia by 2011. For 2009, Zenith Optimedia has forecasted only Indonesia and India amongst countries in the Asia Pacific region to experience adspend growth of more than 13%. There is a significant upside potential for our subscriber based media as the penetration rate was only 2.5% in 2008. Indonesia?s media industry is considered to be a defensive sector supported by a relatively young and sizable population with a high propensity to consume and they seek media platforms as their sources of entertainment. On top of it all, it is the collective experiences, expertise, and skills of our management team that will enable us to effectively navigate through the crisis through the formulation of plans and strategies that will maximize each and every opportunities that may arise. We believe we can weather the current financial crisis and emerge as a much stronger company. Mulana Hutabarat |
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