These consolidated financial statements are originally issued in Indonesian language.
PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Nine months ended September 30, 2008 and 2007 Expressed in rupiah, unless otherwise stated
35
13. OBLIGATIONS UNDER CAPITAL LEASE Continued
In December 2006, the Company entered into a sale-and-leaseback transaction with AAFI for the sale-and-leaseback of transportation equipment units for a total leaseback value of
Rp3,650,660,000. The lease period is for 36 months and the Company has an option to purchase the leased assets by payment of the residual value of Rp10 million for each equipment at the end of
the lease period.
In July 2007, the Company entered into a finance lease transaction with AAFI covering certain transportation equipment units for a total amount of US1,580,923 equivalent to
Rp14,761,401,186. The lease period is for 36 months and the Company has an option to purchase the leased assets by payment of the residual value of US1,000 for each equipment at the end of
the lease period.
In July 2007, the Company entered into a sale-and-leaseback transaction with AAFI for the sale and leaseback of certain machinery and transportation equipment units for a total leaseback value of
US5,213,754 equivalent to Rp48,222,913,116. The lease period is for 36 months and the Company has an option to purchase the leased assets by payment of the residual value of
US1,000 for each equipment at the end of the lease period.
In August 2007 and October 2007, the Company entered into sale-and-leaseback transactions with AAFI for the sale-and-leaseback of certain machinery equipment units for a total leaseback value of
Rp220,272,329,907. The lease period is for 36 months and the Company has an option to purchase the leased assets by payment of the residual value of Rp1,000,000,000 for each equipment at the
end of the lease period. In February 2008, the Company entered into a finance lease transaction with AAFI covering certain
transportation equipment units for a total amount of US924,369 equivalent to Rp8,366,464,272. The lease period is for 36 months and the Company has an option to purchase the leased assets by
payment of the residual value of US1,000 for each equipment at the end of the lease period.
In March 2008, the Company entered into sale-and-leaseback transactions with AAFI for the sale- and-leaseback of certain machinery and transportation equipment units for a total leaseback value
of Rp10,509,090,900. The lease period is for 36 months and the Company has an option to purchase the leased assets by payment of the residual value of Rp5,000,000 and Rp10,000,000 for
each equipment at the end of the lease period.
In April 2008, the Company entered into sale-and-leaseback transactions with AAFI for the sale- and-leaseback of certain transportation equipment units for a total leaseback value of
Rp2,182,615,500. The lease period is for 36 months and the Company has an option to purchase the leased assets by payment of the residual value of Rp10,000,000 for each equipment at the end
of the lease period. In April 2008, the Company entered into sale-and-leaseback transactions with AAFI for the sale-
and-leaseback of certain machinery equipment units for a total leaseback value of US3,239,900 equivalent to Rp29,888,077,500. The lease period is for 36 months and the Company has an
option to purchase the leased assets by payment of the residual value of US1,000 for each equipment at the end of the lease period.
Based on the lease agreements, the Company will not sell, assign or transfer any right or obligation under the lease agreements, or any lease created or contemplated therein or any right to the leased
assets without AAFI’s prior written consent.
The above obligations under capital lease are secured by the related leased assets Note 8.
These consolidated financial statements are originally issued in Indonesian language.
PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Nine months ended September 30, 2008 and 2007 Expressed in rupiah, unless otherwise stated
36
13. OBLIGATIONS UNDER CAPITAL LEASE Continued b. GTM
