Proyek NTT Busdev NTT Busdev Project

PT BAKRIE SUMATERA PLANTATIONS Tbk. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED JUNE 30, 2010 With Comparative Figures for the Period Ended June 30, 2009 Expressed in Thousand Rupiah, unless otherwise stated 54

16. BEBAN TANGGUHAN HAK ATAS TANAH Lanjutan

16. DEFERRED COST OF LAND RIGHTS Continued

2010 2009 Saldo awal 6.262.321 5.140.379 Beginning balance Beban amortisasi Amortization expense tahun berjalan 14.356.290 717.382 for the year Koreksi atas akumulasi Correction of accumulated Amortisasi beban tangguhan amortization of deffred hak atas tanah - 230.556 cost of landrights Saldo akhir 20.618.611 5.627.205 Ending balance 17. HUTANG BANK JANGKA PENDEK 17. SHORT-TERM BANK LOAN Pada tanggal 13 Agustus 2007, PT Grahadura Leidong Prima GLP, Anak perusahaan, memperoleh pinjaman dari Raiffesen Zentralbank Osterreich AG RZB - Austria, cabang Singapura, dengan fasilitas kredit keseluruhan adalah sebesar USD15 juta. Pinjaman tersebut digunakan GLP untuk membiayai modal kerjanya. Fasilitas ini dikenakan bunga pinjaman sebesar LIBOR ditambah 2,75 per tahun dan jatuh tempo pada tanggal 12 Agustus 2008. On August 13, 2007, PT Grahadura Leidong Prima GLP, a subsidiary, entered into a bank loan agreement with Raiffesen Zentralbank Osterreich AG RZB - Austria, Singapore branch, with a loan facility amounting to USD15 million. This loan facility was used to finance its working capital. This facility bears interest rate of LIBOR + 2.75 per annum and was due on August 12, 2008. Pada tanggal 27 Juli 2009, GLP melakukan perpanjangan hutang bank jangka pendek selama satu tahun yang akan jatuh tempo pada tanggal 30 Juli 2010. On July 27, 2009, GLP rolled over the short-term bank loan for one year with due date being on July 30, 2010. Hutang bank ini dijaminkan dengan piutang dan klaim asuransi serta hipotek pertama dari satu tanaman perkebunan GLP and PT Guntung Idamannusa GIN, Anak perusahaan. This loan is secured by fiduciary of receivables and any claims of insurance and first ranking mortgage of the plantations of GLP and PT Guntung Idamannusa GIN, also a subsidiaries. Pada tanggal 30 Juni 2010 dan 2009 saldo hutang bank jangka pendek yang masih terhutang masing-masing adalah sebesar Rp136,25 miliar dan 153,38 miliar. As of June 30, 2010 and 2009, the outstanding balance of the short-term bank loan amounted to Rp136,25 billion and Rp153,38 billion, respectively. Sesuai dengan perjanjian, GLP dan GIN selaku debitur diwajibkan memenuhi persyaratan tertentu, antara lain batasan rasio keuangan dan persyaratan administrasi. Pada tanggal 30 Juni 2010 dan 2009, Anak Perusahaan telah memenuhi rasio keuangan sesuai dengan yang dipersyaratkan dalam perjanjian. Based on the agreement, GLP and GIN are required to fulfill certain requirements, such as maintaining certain financial ratios and administration requirements. As of June 30, 2010 and 2009, the Subsidiaries is in compliance with the financial ratios as required under the terms of the agreement.