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Adaro Energy Annual Report 2008 www.adaro.com
Adaro in Summary From Us to You
Running Adaro Management Report
Owning Adaro
PT ADARO ENERGY Tbk Schedule 514
FORMERLY PT PADANG KARUNIA AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2008 AND 2007 Expressed in million Rupiah, unless otherwise stated
3. ACQUISITIONS AND DISPOSALS OF SUBSIDIARIES continued
b. Acquisition of PT Alam Tri Abadi continued
The restructuring transaction of 15 July 2008 was accounted for using the pooling-of-interests method as required under SFAS No. 38 Revised 2004, since the Company and ATA are entities under common control. The details of the book value
of net assets acquired and the difference arising from this restructuring transaction of entities under common control are as follows:
2008
Purchase consideration through cash payment 356,000
Book value of net assets acquired 143,886
Difference in value from restructuring transactions of entities under common control 212,114
c. Acquisition of PT Makmur Sejahtera Wisesa
On 15 January 2008, MSW increased its issued and paid in capital through the issuance of 887,405 new shares with a par value of Rp 50,000 full amount per share. The Company acquired 443,703 of the new shares issued amounting to
Rp 22,185, and the Company’s interest in MSW increased from 45.00 to 49.80. On 24 January 2008, the Company acquired an additional 49.80 interest in MSW through purchases from PT Saratoga
Sentra Business “SSB” and PCI, each of 24.90 for Rp 11,524.50, and the Company’s interest in MSW increased from 49.80 to 99.60. For this acquisition, the Company paid Rp 864 in cash and issued new shares in the Company amounting
to Rp 22,185.
The restructuring transactions of January 2008 were accounted for using the pooling -of-interests method as required under SFAS No. 38 Revised 2004, since the Company, SSB and PCI are entities under common control. The details of the book
value of the net assets acquired and the difference arising from restructuring transaction of entities under common control are as follows:
2008
Purchase consideration through cash payment 23,049
Purchase consideration through exchange of the Company’s new shares 22,185
45,234 Book value of net assets acquired
43,193 Difference in value from restructuring transactions of entities under common control
2,041 Difference in value from restructuring transactions of entities under common control - 2005
212 Difference in value from restructuring transactions of entities under common control - 2008
2,041 Difference in value from restructuring transactions of entities under common control
2,253 On 26 September 2008, MSW increased its issued and paid in capital through the issuance of 3,496,000 new shares with a
par value of Rp 50,000 full amount per share. The Company acquired all the new shares issued, and the Company’s interest in MSW increased from 99.60 to 99.91. The details of the net assets acquired and goodwill are as follows:
2008
Purchase consideration through cash payment 174,800
Net assets acquired 174,782
Goodwill 18
On 23 December 2008, MSW increased its issued and paid in capital through the issuance of 437,535 new shares with a par value of Rp 50,000 full amount per share. The Company acquired 437,535 of the new shares issued amounting to
Rp 21,877, and the Company’s interest in MSW increased from 99.91 to 99.92.
2008
Purchase consideration through cash payment 21,877
Net assets acquired 21,877
Goodwill -
Adaro Energy Annual Report 2008 www.adaro.com
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Contact Us Governing Adaro
Financial Report Corporate Social Responsibility
PT ADARO ENERGY Tbk Schedule 515
FORMERLY PT PADANG KARUNIA AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2008 AND 2007 Expressed in million Rupiah, unless otherwise stated
3. ACQUISITIONS AND DISPOSALS OF SUBSIDIARIES continued
d. Disposal of PT Padang Anugerah
On 28 February 2007, the Company disposed of all of its 90 interest in PT Padang Anugerah “PA” for Rp 1,125 to PT Bumi Alam Sejahtera “BAS” and PT Anugerah Kasih “AK”. This disposal was accounted for as required under SFAS No. 38
Revised 2004, since the Company, BAS and AK are entities under common control.
2007
Cash and cash equivalents 1
Amounts due from related parties 1,231
Net assets 1,232
Interest disposed of 90
Net assets disposed of 1,109
Adjustment to net assets disposed of: - Difference in value from restructuring transactions of entities under common control
16 Cash received from disposal of subsidiary
1,125 Cash and cash equivalents in PA
1 Net cash inflow from disposal of subsidiary
1,124
e. Disposal of PT Padang Sejahtera
On 28 February 2007, the Company disposed of all of its interest in PT Padang Sejahtera “PS” of 67 to BAS for Rp 838. This disposal was accounted for as required under SFAS No. 38 Revised 2004, since the Company and BAS are entities
under common control.
2007
Cash and cash equivalents 2
Amounts due from related parties 1,203
Net assets 1,205
Interest disposed of 67
Net assets disposed of 807
Adjustment to net assets disposed of: - Difference in value from restructuring transactions of entities under common control
31 Cash received from disposal of subsidiary
838 Cash and cash equivalents in PS
2 Net cash inflow from disposal of subsidiary
836
f. Disposal of PT Padang Berkat
On 28 February 2007, the Company disposed of all of its 90 interest in PT Padang Berkat “PB” to BAS and AK for Rp 1,125. This disposal was accounted for as required under SFAS No. 38 Revised 2004, since the Company, BAS and AK
are entities under common control.
2007
Cash and cash equivalents 2
Amounts due from related parties 1,230
Net assets 1,232
Interest disposed of 90
Net assets disposed of 1,109
Adjustment to net assets disposed of: - Difference in value from restructuring transactions of entities under common control
16 Cash received from disposal of subsidiary
1,125 Cash and cash equivalents in PB
2 Net cash inflow from disposal of subsidiary
1,123
