PT SUMMARECON AGUNG Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS OF JUNE 30, 2013 AND DECEMBER 31, 2012, 2011 AND 2010 AND FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2013 AND 2012 UNAUDITED
AND YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010 Expressed in thousands of rupiah, unless otherwise stated
59
8. INVENTORIES
Inventories consist of:
December 31, June 30, 2013
2012 2011
2010
Inventories available for sale Landplots
70,230,404 92,604,750
187,409,077 45,896,554
Shops 5,563,403
47,250,545 9,106,571
7,893,122 Houses
3,325,658 30,907,761
273,979,815 93,798,572
Apartments 344,347
344,347 344,347
3,300,128 Total inventories available for sale
79,463,812 171,107,403
470,839,810 150,888,376
Inventories under developmentconstruction Land
1,492,487,410 1,162,957,143
1,259,274,168 362,194,595
Buildings 1,673,116,758
1,251,815,891 864,120,453
787,765,111 Apartments
186,095,289 221,967,545
136,225,560 -
Total inventories under developmentconstruction 3,351,699,457
2,636,740,579 2,259,620,181
1,149,959,706 Others
16,747,061 12,335,918
10,622,418 7,585,275
Total inventories 3,447,910,330
2,820,183,900 2,741,082,409
1,308,433,357
The movements in the buildings and apartments inventories under construction account are as follows:
December 31, June 30, 2013
2012 2011
2010
Beginning balance 1,473,783,436
1,000,346,013 787,765,111
269,726,638 Production costs
761,417,232 1,411,399,988
1,213,624,983 1,058,500,800
Transfer to buildings inventories available for sale
375,988,622 937,962,565
1,001,044,081 540,462,327
Ending balance 1,859,212,046
1,473,783,436 1,000,346,013
787,765,111
The movements in the inventories shops, houses and apartments available for sale account are as follows:
December 31, June 30, 2013
2012 2011
2010
Beginning balance: Shops
47,250,545 9,106,571
7,893,122 20,172,005
Houses 30,907,761
273,979,815 93,798,572
32,124,911 Apartments
344,347 344,347
3,300,128 -
Transfer from building inventories under construction
375,988,622 937,962,565
1,001,044,081 540,462,327
Cost of sales: Houses
75,315,990 703,160,684
648,582,745 384,522,586
Shops 187,748,609
143,275,968 92,133,000
81,172,641 Apartments
182,193,268 296,453,993
2,955,782 22,072,194
Offices -
- 78,933,643
-
Ending balance 9,233,408
78,502,653 283,430,733
104,991,822
PT SUMMARECON AGUNG Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS OF JUNE 30, 2013 AND DECEMBER 31, 2012, 2011 AND 2010 AND FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2013 AND 2012 UNAUDITED
AND YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010 Expressed in thousands of rupiah, unless otherwise stated
60
8. INVENTORIES continued
The percentages of inventories owned by the Company and Subsidiaries and those under the name of other parties are as follows:
December 31, June 30, 2013
2012 2011
2010
Company and Subsidiaries 99.57
99.48 99.46
98.25 Other parties
0.43 0.52
0.54 1.75
Total 100.00
100.00 100.00
100.00
Real estate development inventories which are already covered by signed salespurchase agreements but have not yet been recognized as sales are as follows:
December 31, June 30, 2013
2012 2011
2010
Inventories available for sale Houses
3,325,658 30,521,604
273,083,643 85,827,964
Shops 25,877,438
83,405,166 6,730,376
4,711,304 Total inventories available for sale
29,203,096 113,926,770
279,814,019 90,539,268
,
Inventories under developmentconstruction buildings
1,544,839,254 1,991,775,217
681,799,184 267,071,762
Total 1,574,042,350
2,105,701,987 961,613,203
357,611,030
The downpayments received related to the above-mentioned inventories amounting to Rp2,768,795,413, Rp3,325,748,963, Rp3,231,829,886 and Rp1,927,606,607 are presented as
Deposits Received in the consolidated statements of financial position and as part of “Downpayments Received from Sale” in Note 23 as of June 30, 2013 and years ended December 31, 2012, 2011 and
2010, respectively.
As of June 30, 2013, inventories in such properties known as Royal Orchard 3, Orchard Square 2, Acacia, Sinpasa Commercial, Sherwood apartment, Palm Residence, Maple Residence, Emerald,
Pascal Residence, Scarlet, The Tiara, Graha Boulevard and The Crown are available for sale, and inventories in Sherwood apartment, Sherwood Garden Residence, The Kensington, Graha Bulevar
Timur, Lotus, Magnolia, Emerald Commercial, Bluebell Residence, Vernonia, The Springs, Golden 8, Dalton Commercial, Darwin, Scientia Commercial, Aristoteles, Emerald Cove, Scientia apartment,
Amethyst,
Volta, Starling,
Goldfinch and
Jasmine Commercial
Extention are
under developmentconstruction.
As of December 31, 2012, inventories in such properties known as Royal Orchard 3, Orchard Square 1, Acacia, Sinpasa Commercial, Sherwood apartment, Emerald, Pascal Residence, Palm
Residence and Maple Residence are available for sale, and inventories in Orchard Square 2, Sherwood apartment, Sherwood Garden Residence, Graha Bulevar Timur, Acacia, Sinpasa
Commercial, Lotus, Magnolia, Emerald Commercial, Bluebell Residence, The Tiara, The Crown, Scarlet, The Springs, Graha Boulevard, Golden 8, Dalton Commercial, Crystal Commercial, The
Crown, Darwin, Scientia Commercial, Aristoteles, Emerald Cove, Scientia apartment and Grisea are under developmentconstruction.
