Principles of Consolidation IKHTISAR KEBIJAKAN AKUNTANSI YANG

PT. MITRABAHTERA SEGARA SEJATI Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN 31 DESEMBER 2011 DAN 2010 SERTA TAHUN-TAHUN YANG BERAKHIR PADA TANGGAL TERSEBUT Lanjutan PT. MITRABAHTERA SEGARA SEJATI Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2011 AND 2010 AND FOR THE YEARS THEN ENDED Continued - 34 -

6. PIUTANG USAHA

6. TRADE ACCOUNTS RECEIVABLE

2011 2010 Rp Rp a Berdasarkan pelanggan a By debtor Pihak berelasi: Related party: PT Kideco Jaya Agung 5.016.892.607 - PT Kideco Jaya Agung Pihak ketiga: Third parties: PT Adaro Indonesia 54.732.368.342 37.004.729.736 PT Adaro Indonesia PT Kaltim Prima Coal 28.226.386.007 38.137.106.671 PT Kaltim Prima Coal PT Holcim Indonesia Tbk 24.201.570.870 14.223.598.418 PT Holcim Indonesia Tbk PT Borneo Indobara 18.991.372.354 - PT Borneo Indobara PT Berau Coal 17.193.874.649 14.554.066.455 PT Berau Coal PT Bahari Cakrawala Sebuku 15.270.201.421 17.454.878.433 PT Bahari Cakrawala Sebuku PT Alfa Trans Raya 13.544.291.757 - PT Alfa Trans Raya PT Singlurus Pratama 12.540.808.777 5.937.901.223 PT Singlurus Pratama PT Karbon Mahakam 12.075.511.197 - PT Karbon Mahakam PT Bukit Asam Persero Tbk 11.601.364.427 - PT Bukit Asam Persero Tbk PT Trubaindo Coal Mining 11.545.617.331 1.835.402.960 PT Trubaindo Coal Mining PT Kitadin 11.065.458.257 - PT Kitadin PT Indocement Tunggal Prakarsa Tbk 9.603.231.173 4.019.222.581 PT Indocement Tunggal Prakarsa Tbk PT Jorong Barutama Greston 4.363.668.199 1.615.069.632 PT Jorong Barutama Greston PT Baruna Dirga Dharma 2.045.369.669 - PT Baruna Dirga Dharma PT Utama Karya Niaga 1.052.792.620 - PT Utama Karya Niaga PT RCL Coal Transportation 1.013.736.230 - PT RCL Coal Transportation PT Kideco Jaya Agung - 3.918.635.695 PT Kideco Jaya Agung PT Sadikun Niaga Mas Raya 385.571.088 6.094.524.596 PT Sadikun Niaga Mas Raya Lain-lain masing-masing dibawah Rp 1 miliar 4.393.335.230 10.883.088.273 Others below Rp 1 billion each Sub jumlah 253.846.529.598 155.678.224.673 Sub total Penyisihan piutang ragu-ragu 9.376.976.459 8.612.691.714 Allowance for doubtful accounts Bersih 244.469.553.139 147.065.532.959 Net Jumlah piutang usaha 249.486.445.746 147.065.532.959 Total trade account receivable b Berdasarkan umur hari b By age category days Belum jatuh tempo 173.296.521.300 69.638.733.794 Not yet due Sudah jatuh tempo Past due 1 - 30 hari 58.886.852.707 51.428.377.242 1 - 30 days 31 - 60 hari 9.112.762.144 22.340.863.779 31 - 60 days 61 - 90 hari 3.600.998.591 2.197.475.761 61 - 90 days Diatas 90 hari 13.966.287.463 10.072.774.097 Over 90 days Jumlah 258.863.422.205 155.678.224.673 Total Penyisihan piutang ragu-ragu 9.376.976.459 8.612.691.714 Allowance for doubtful accounts Bersih 249.486.445.746 147.065.532.959 Net PT. MITRABAHTERA SEGARA SEJATI Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN 31 DESEMBER 2011 DAN 2010 SERTA TAHUN-TAHUN YANG BERAKHIR PADA TANGGAL TERSEBUT Lanjutan PT. MITRABAHTERA SEGARA SEJATI Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2011 AND 2010 AND FOR THE YEARS THEN ENDED Continued - 35 - 2011 2010 Rp Rp c Berdasarkan mata uang c By currency Rupiah 39.725.165.257 16.948.695.255 Rupiah Dollar Amerika Serikat 219.019.985.377 138.611.150.349 U.S. Dollar Dollar Singapura 118.271.571 118.379.069 Singapore Dollar Jumlah 258.863.422.205 155.678.224.673 Total Penyisihan piutang ragu-ragu 9.376.976.459 8.612.691.714 Allowance for doubtful accounts Jumlah 249.486.445.746 147.065.532.959 Total Changes in allowance for Mutasi penyisihan piutang ragu - ragu: doubtful accounts: Saldo awal periode 8.612.691.714 10.276.803.045 Balance at beginning of period Penambahan 764.284.745 1.346.283.813 Additons Pemulihan - 3.010.395.144 Recovery Saldo akhir periode 9.376.976.459 8.612.691.714 Balance at end of period Manajemen berpendapat bahwa penyisihan piutang ragu-ragu atas piutang pihak ketiga adalah cukup. Management believes that the allowance for doubtful receivables from third parties is adequate. Penyisihan piutang ragu-ragu terhadap piutang pihak berelasi tidak dibentuk karena manajemen berpendapat seluruh piutang tersebut dapat ditagih. No allowance for doubtful accounts was provided on receivables from related parties as management believes that such receivable are fully collectible. Manajemen Perusahaan telah menjaminkan piutang usaha atas liabilitas jangka panjang bank Catatan 13 dan 18. The Company management have pledged its accounts receivable as collateral for long-term bank loan Notes 13 and 18.

7. PIUTANG LAIN-LAIN KEPADA PIHAK KETIGA

7. OTHER ACCOUNT RECEIVABLES TO THIRD

PARTIES 2011 2010 Rp Rp PT Dian Perkasa Shipyard 5.880.000.000 5.880.000.000 PT Dian Perkasa Shipyard Karyawan 277.852.651 342.095.306 Employees Lain-lain 521.093.394 152.842.235 Others Jumlah 6.678.946.045 6.374.937.541 Total Piutang lain-lain dari PT Dian Perkasa Shipyard, merupakan piutang kepada pemegang saham minoritas PT Mitra Jaya Offshore. Other account receivables from PT Dian Perkasa Shipyard, represents a receivable to minority shareholder of PT Mitra Jaya Offshore. Manajemen berpendapat bahwa penyisihan piutang ragu-ragu atas piutang lain-lain tidak diperlukan karena manajemen berpendapat seluruh piutang dapat ditagih. Management believes that all other receivables are collectible therefore no allowance for doubtful accounts has been provided. PT. MITRABAHTERA SEGARA SEJATI Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN 31 DESEMBER 2011 DAN 2010 SERTA TAHUN-TAHUN YANG BERAKHIR PADA TANGGAL TERSEBUT Lanjutan PT. MITRABAHTERA SEGARA SEJATI Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2011 AND 2010 AND FOR THE YEARS THEN ENDED Continued - 36 -

8. PERSEDIAAN

8. INVENTORIES

2011 2010 Rp Rp Bahan bakar 12.020.897.380 463.437.500 Fuel Suku cadang 11.185.990.405 - Spareparts Jumlah 23.206.887.785 463.437.500 Total Manajemen berkeyakinan tidak terdapat penurunan nilai persediaan. Management believes that there is no decline in value of inventories. Pada tanggal 31 Desember 2011 dan 2010, persediaan tidak digunakan sebagai jaminan atas pinjaman bank. As of December 31, 2011 and 2010, inventories were not used as collateral.

9. UANG MUKA DAN BEBAN DIBAYAR DIMUKA

9. ADVANCES AND PREPAID EXPENSES

2011 2010 Rp Rp Biaya dibayar dimuka Prepaid expenses Sewa 1.404.350.675 - Rent Asuransi 2.590.181.272 4.068.220.150 Insurance Uang muka Advances Pemeliharaan kapal 21.107.849.564 22.070.915.179 Maintenance of vessels Tambat dan pelabuhan 1.542.153.726 618.658.311 Port charges Lain-lain 4.857.347.426 2.912.423.194 Others Jumlah 31.501.882.663 29.670.216.834 Total 10. PROPERTI INVESTASI 10. INVESTMENT PROPERTY Saldo awal Saldo akhir Beginning Penambahan Pengurangan Ending balance Additions Deductions balance Rp Rp Rp Rp Bangunan Buildings Biaya perolehan 11.612.795.070 - - 11.612.795.070 At cost Akumulasi penyusutan 4.495.423.762 580.639.754 - 5.076.063.516 Accumulated depreciation Jumlah Tercatat Bersih 7.117.371.308 6.536.731.554 Net Carrying Value 2011 Saldo awal Saldo akhir Beginning Penambahan Pengurangan Ending balance Additions Deductions balance Rp Rp Rp Rp Bangunan Buildings Biaya perolehan 11.612.795.070 - - 11.612.795.070 At cost Akumulasi penyusutan 3.914.784.008 580.639.754 - 4.495.423.762 Accumulated depreciation Jumlah Tercatat Bersih 7.698.011.062 7.117.371.308 Net Carrying Value 2010