TPI WINS AS THE SUPREME COURT REJECTED THE APPEAL FOR JUDICIAL REVIEW
2010 - Jakarta, 29 Mar 2010

The Supreme Court held a press conference on Friday, 26th March 2010 and announced that the Supreme Court rejected the appeal for a judicial review by Crown Capital Global Limited (“CCGL”). The decision has reaffirmed the Supreme Court’s ruling on 15th December 2009 to nullify the decision made by the Commercial Court concerning the bankruptcy of TPI. The appeal for a judicial review to the Supreme Court was the final legal avenue for CCGL to claim bankruptcy against TPI. The Supreme Court’s ruling has ended any future attempt by CCGL to file for the same legal proceedings against TPI.



The announcement made by the Supreme Court is good news not only for TPI, but also for MNC as the 75% shareholder of TPI.


For the first two months of 2010, TPI with its BCD 5+ target audience has shown an improvement in its average audience share to 11%, from an average of 9% in FY2009.


In addition, TPI has recorded stronger financial results during the first two months of 2010 with revenues increasing by 29% y-o-y to Rp88 billion, or higher by 9% than the budgeted amount. Operating Income increased by 40% y-o-y to Rp 29 billion or higher by 112% from the budgeted amount and EBITDA grew by 34% y-o-y to Rp 33 billion, or higher by 86% than the budgeted amount. The EBITDA margin soared to 37% as compared to 36% from the same period last year.



The Supreme Court’s ruling has restored the confidence of customers, advertisers, production houses and suppliers to intensify their business activities with TPI. Going forward, we firmly believe that TPI’s business activities will result in stronger overall performance.