Schedule 575 PT BAYAN RESOURCES AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 MARCH 2008 AND 2007 AND 31 DECEMBER 2007, 2006 AND 2005
Expressed in million Indonesian Rupiah, unless otherwise stated
28. SIGNIFICANT AGREEMENTS, COMMITMENTS AND CONTINGENCIES continued m. Bank facilities continued
GBP On 30 October 2006, GBP entered into a credit facility agreement with PT Bank Danamon Indonesia
Tbk. The agreement has been amended several times. Based on the latest amendment on 29 November 2007, the agreement expires on 30 October 2008. The facilities provided under the agreement are as follows:
Type of facility Limit
Available facility
Omnibus LG consists of: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . US4,900,000
US1,824,042 —Sight Letter of Credit Import . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
—Usance Letter of Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . —Bank Guarantee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
—Standby Letter of Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . —Letter of Credit for Local Document . . . . . . . . . . . . . . . . . . . . . . . . . . .
Pre-Settlement Exposure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . US1,500,000
US1,500,000 As at 31 March 2008, the Bank Guarantee facility used is US3,075,958, consisting of Bank Guarantee
for reclamation guarantee for GBP and FSP amounting to US1,302,500 and US311,148, respectively refer to Note 28d and Performance Gurantee Bond for GBP and IP related to the coal sales agreement with TNB
amounting to US1,462,310 refer to Note 28k. As at 31 March 2008, GBP deposited the cash in PT Bank Danamon Indonesia Tbk., amounting to US2,686,279 as a collateral to these Bank Guarantees refer to Note 9.
FSP On 4 February 2008, FSP entered into a credit facility agreement with PT Bank Danamon Indonesia
Tbk., for the period 4 February 2008 until 31 December 2008. The facilities provided under the agreement are as follows:
Type of facility Limit
Available facility
Omnibus LG consists of: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . US350,000
US350,000 —Sight Letter of Credit Import . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
—Usance Letter of Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . —Bank Guarantee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
—Standby Letter of Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . —Letter of Credit for Local Document . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
n. Agreement for construction of infrastructure
WBM On 18 February 2008, WBM entered into an agreement with PT Gemini Astrikarya for the construction
of a unit of office building of 1,243 m
2
located at the site area of WBM at Satui, Tanah Bumbu, South Kalimantan, amounted to Rp 5,293.
KOTR On 26 February 2008, KOTR entered into an agreement with PT Nirmala Matranusa for the construction
of a workshop facility located at Tanjung Batu, Balikpapan, East Kalimantan amounting to US0.7 million. The project commenced on 5 March 2008 with an expected construction period of eight months.
F-92
Schedule 576 PT BAYAN RESOURCES AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 MARCH 2008 AND 2007 AND 31 DECEMBER 2007, 2006 AND 2005
Expressed in million Indonesian Rupiah, unless otherwise stated
28. SIGNIFICANT AGREEMENTS, COMMITMENTS AND CONTINGENCIES continued o. Heavy equipment sales contract
BE On 2 January 2007, BE entered into an agreement to sell three pieces of heavy equipment to PT KTH
Mining Engineering “KTH”, a third party. As at 31 March 2008, the receivables from this transaction amounted to Rp 9,825 31 March 2007: Rp 15,746—unaudited and 31 December 2007: Rp 10,041. Based on the
agreement, KTH will pay through 23 installments, whereby the first installment amounted to US83,894 and the following installments amounted to US71,065 each.
p. Machinery purchase contract
KOTR In February 2007, KOTR entered into an agreement with Italmatic Singapore Pte. Ltd., for purchase of
machinery with a contract amount of EUR 900,000 or Rp 13,103. Based on the agreement, the related machinery will be received by the Company in 2008. An advance for purchase of the machinery of EUR 270,000 or Rp
3,931 was paid to Italmatic Singapore Pte. Ltd. during 2008 and 2007.
q. Lease agreement
Group except BAS, BT, KOTR and FSP On 26 July 2006, the Group except BAS, BT, KOTR and FSP entered into master lease agreement with
PT Austindo Nusantara Jaya Finance “ANJF”. Based on the latest amendment dated 29 March 2007, the value of the contract amounting to US25 million and released DPP from the related agreement. Based on assignment
of lease receivables agreement dated 26 July 2006 between Australian and New Zealand Banking Group Limited “ANZ” and ANJF, ANJF has assigned all its receivables under the master lease agreement to ANZ.
In addition, ANZ also provided loan facility to BI based on loan agreement dated 25 April 2007 with a total facility maximum to US25 million.
The master lease agreement and loan facility above are secured by the payment in relation to the sales and purchase of coal from GBP entered between the Company and Mitsui Co., Ltd., dated 1 January 2007 and
guarantee from the Company, GBP and WBM. Refer to Note 33m for the release of guarantee from the Company, GBP, and WBM to the above
agreement subsequent to 31 March 2008.
r. Maintenance agreement
GBP On 21 November 2005, GBP entered into a maintenance contract with PT United Tractors Tbk for
equipment maintenance. The agreement is valid for three years with the fee is ranging from US0.10hour to US8.33hour.
On 22 June 2005, GBP entered into a fleet maintenance contract with PT Chakra Jawara for equipment maintenance. The agreement is valid for three years. Based the latest amendment on 8 February 2007, the fee
charged which is ranging from US0.11km to US0.25km.
F-93
