PT SUMMARECON AGUNG Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of June 30, 2017 and for the Six-Month Periods Then Ended Expressed in thousands of Indonesian Rupiah, unless otherwise stated
48
12. SHORT-TERM BANK LOANS AND LONG-TERM DEBTS CONTINUED PT Bank Resona Perdania Resona
SPCK obtained working capital credit facility with a maximum amount of Rp30,000,000, obtained in August 2010 with credit period of one year, which was fully drawn in 2013. Furthermore, based on the amendment to the credit agreement
dated August 29, 2014, this facility has been extended to August 19, 2017. The outstanding loan balance as of June 30, 2017 is Rp5,000,000 2016: Rp29.000.000. In 2017, SPCK has made principal payments amounting to Rp24,000,000.
The Company obtained revolving credit facility from Resona with a maximum amount of US3,000,000. The loan was due on December 17, 2014 and was collateralized by investment properties Note 10. Furthermore, based on the
amendment to the credit agreement dated November 11, 2014, this facility was increased from US3,000,000 to become US15,000,000 whereas the additional portion of loan is withdrawn in form of Rupiah or United States dollar and
extended to December 17, 2017. The outstanding loan balance as of June 30, 2017 is US3,000,000, or equivalent to Rp39,957,000 and Rp156,576,000 2016: US3,000,000, or equivalent to Rp40,308,000 and Rp156,576,000. In 2017
The Company has not made any principal payments.
PT Bank Mayora Tbk Mayora
The Company obtained Installment Loan facility from Mayora with maximum amount of Rp150.000.000, with credit period of 1 year which will due on October 19, 2017 and bore interest at annual rate ranging from 10.25 up to 10.50. The
outstanding balance as of June 30, 2017 is Rp150,000,000 2016: Rp100,000,000. In 2017, the Company has made any
principal payment amounting to Rp250,000,000.
PT Bank Central Asia Tbk BCA
The Company obtained several facilities from BCA as follows: -
Overdraft facility with a maximum amount of Rp80,000,000 with credit period of one year. Furthermore, this facility as been extended up to October 23, 2017. The loan is collateralized by trade receivables, investment properties, escrow
accounts and restricted time deposits Notes 5, 10 and 11. In 2017, the loan bore interest at annual rate of 9.25. The outstanding loan balance as of June 30, 2017 amounted to Rp32,156,334 2016: Rp54,691,588. In 2017, the
Company made principal payments totaling Rp22,535,254 2016: 38,889,093. -
The Company also obtained investment credit facility with a maximum amount of Rp550,000,000 with credit period of 6 years, to February 28, 2022 and bears interest at annual rate ranging from 9.25 to 9.75. The loan is
collateralized with land and The Kensington Apartment building. The outstanding loan balance as of June 30, 2017 is Rp515,808,000 2016: Rp355,648,000. In 2017, the Company has not made any principal payment.
SPCK obtained several facilities from BCA as follows: -
Overdraft facility with a maximum amount of Rp80,000,000 which will due on March 21, 2018. The loan is collateralized by undeveloped land Note 7. The outstanding loan balance as of June 30, 2017 amounted to
Rp11,543,200 2016: Rp26,147,079. In 2017, SPCK made principal payments totaling Rp26,147,079 2016: Rp53,725,124.
- Investment Credit Facility 1 with a maximum amount of Rp100,000,000, obtained in January 2016, used for financing
The Spring Club, and will be due on September 13, 2021 This facility has been transferred from several facilities with a maximum amount to Rp750,000,000. The loan is payable quarterly installments starting from June 13, 2016
up to September 13, 2021, and bear interest at the annual rate of 10.25. The loan is collateralized by undeveloped land which belongs to SPCK Note 7. The outstanding loan balance as of June 30, 2017 is Rp85,000,000 2016:
Rp95,000,000. In 2017, the Company has made principal payments amounted to Rp10,000,000.
- Investment Credit Facility II with a maximum amount of Rp200,000,000, obtained in April 2015. The loan is payable
quarterly installments starting from September 2017 up to June 2021 and is collateralized by undeveloped land which belongs to JYBA, JBC and SPCK Note 7. The outstanding loan balance as of June 30, 2017 is
Rp200,000,000 2016: Rp183,100,000. In 2017, the Company has not made any principal payment.
PT SUMMARECON AGUNG Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of June 30, 2017 and for the Six-Month Periods Then Ended Expressed in thousands of Indonesian Rupiah, unless otherwise stated
49
12. SHORT-TERM BANK LOANS AND LONG-TERM DEBTS CONTINUED PT Bank Central Asia Tbk BCA continued
