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Subsidiary Entities and Associated Companies

Subsidiary Entity

Subsidiary companies in overseas and domestic.

Overseas Subsidiaries

NSCT Premium Tubulars B.V. (NSCT BV)

NSCT BV, domiciled at Herikerbergweg 238, Amsterdam, Netherlands, established and started its operations since 2003. NSCT BV has business activities that include holding patents and other intellectual property rights and providing technical support to its licensees and sub-licensees. NSCT BV is a wholly owned (100%) subsidiary of the Company.

NSCT BV has a subsidiary entity called NS Connection Technology Inc., which was established and started its operations in the same year (2003), domiciled in Delaware, the United States of America with business activities include Master Licensor and providing technical support to its sub-licensees.

NS Connection Technology Pte. Ltd. (NSCT PL)

NSCT PL, domiciled at 133 New Bridge Road, #21-01 Chinatown Point, Singapore, established and started its operations in 2002. NSCT PL’s business activities include marketing and technical support related to intellectual property. NSCT PL is 100% owned by the Company.

Citra Tubindo (International) Pte. Ltd. (CTI)

CTI, domiciled at 133 New Bridge Road, #21-01 Chinatown Point, Singapore, established and started its operations in 2004. CTI’s business activities include marketing and technical support in relation to the supply of oil country tubular goods (OCTG) and tubular accessories for the oil and gas industry. The Company owns 100% of CTI.

CTI has a subsidiary entity named Citra Tubindo Australia Pty. Ltd (CTA), established and started its operations in November 2011, domiciled in Perth, Australia and representative office in Melbourne, Australia with business activities including trading for the oil and gas industry. CTI owns 100% of CTA.

CTA has closed on November 15, 2017 due to the downturn of the Oil & Gas industry in Australia and during its operation had not given significant contribution to the Company. This closure has no impact on operational activities, financial condition and projections, legal impacts and the Company’s business continuity. This closure has been reported to the Financial Services Authority.

Domestic Subsidiaries

PT Hymindo Petromas Utama (HPU)

HPU, domiciled at Jalan Hang Kesturi Km. 4, Kav B-12, Kabil Industrial Estate, Batam, established in 1987 and started its operations in 1988. HPU’s business activities include pipe threading for tubings, casings and accessories for the oil and gas industry.

The Company owns 99.90% of HPU.

HPU has closed on August 30, 2017 because from 2015 it has not been active/operational, and its operation did not provide significant contribution to the Company. This closure has no impact on operational activities, financial condition and projections, legal impacts and the Company’s business continuity. This closure has been reported to the Financial Services Authority.

PT Sarana Citranusa Kabil (SCK)

SCK, domiciled at Jalan Hang Kesturi I Kav C4, Kabil Industrial Estate, Batam, established in 2000. Its business activities include port management, container and cargo, warehousing and open storage rental. The Company owns 99.92% of SCK.

SCK has a subsidiary entity named PT Citra Pembina Pengangkutan Industries (CPPI) domiciled at Jalan Mas Surya Negara Kav A.9, Kabil Industrial Estate, Kabil Batam with business activities include providing public transportation, expedition, stevedoring, warehousing and rental of heavy equipments. SCK owns 99% of CPPI’s shares.

The subsidiaries of CPPI include:

a. PT Citramadya Cargindo (CMC)
Domiciled at Jalan Mas Surya Negara Kav A.9 Kabil Industrial Estate, Kabil Batam and provides cargo services and special handling of heavy weight cargo with qualified logistics handling manpower. CPPI share ownership in CMC is 98%.

b. PT Citra Pembina Logistik (CPL)
Domiciled at Jalan Mas Surya Negara Kav A.9 Kabil Industrial Estate, Kabil Batam provides logistic services and special handling container cargo by Roll On Roll Off (Roro) services for Batam-Singapore-Batam project. CPPI share ownership in CPL is 99%.

c. PT Bandarkabil Indonusa (BKI)
Domiciled at Jalan Hang Kesturi IIIB, Kav A26d, Blok S1-20, Kabil Industrial Estate, Kabil, Batam provides port services. CPPI share ownership in BKI is 89.33%.

BKI has closed on May 4, 2017, because it has not been active/operational since 2007, and its operation has not provided significant contribution to the Company. This closure has no impact on operational activities, financial condition and projections, legal impacts and the Company’s business continuity. This closure has been reported to the Financial Services Authority.

PT Citra Sarana Baja (CSB)

CSB domiciled at Jalan Hang Kesturi Km. 4, Kabil Industrial Estate, Batam, established in 2012. Its business activities include manufacturing seamless pipes from steel billets, pipes for threading industry, green pipes, accessories, electric submersible pump accessories and parts. Share ownership of the company in SCB is 99%.

CSB has closed on May 4, 2017, because since establishment it has not commenced operations. This closure has no impact on operational activities, financial condition and projections, legal impacts and the Company’s business continuity. This closure has been reported to the Financial Services Authority.

Associated Companies

Associated Companies in overseas and domestic.

Overseas Associated Company

Citra Sumit Valind Investments Pte. Ltd. (CSV)

CSV, domiciled at 133 New Bridge Road, #21-01 Chinatown Point, Singapore, was established in 1993 with its principal activity to serve as a holding company and to provide technical support to subsidiary companies. The ownership of the Company in CSV is 48%.

CSV has a subsidiary company named Vietubes Corporation Limited (VCL), domiciled in Vung Tau city, Vietnam, and its activity is to provide support services for the oil and gas industry.

CSV owns 49% of VCL.

Domestic Associated Company

PT H-Tech Oilfield Equipment (HOE)

HOE, domiciled at Jalan Hang Kesturi Km. 4, Kabil Industrial Estate, Batam, established in 1999 with business activities include manufacturing drill pipes and provision of services in accordance with the specifications of the American Petroleum Institute. The Company owns 45.65% of HOE.

In December 2017, the Company has divested ownership of HOE shares.

PT Pelayaran Citranstirta Tatasarana (CITA)

CITA, domiciled at Jalan Hang Kesturi I Kav C4, Kabil Industrial Estate, Batam, established in 1990, provides shipping agency and ship handling services, including vessel clearance, ship chandler and procurement services.

The ownership of shares by CPPI in CITA is 48.77%.