Kelangsungan usaha Going concern

PT BORNEO LUMBUNG ENERGI METAL Tbk. DAN ENTITAS ANAKAND SUBSIDIARIES Lampiran 57 Schedule CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN 31 MARET 2014 DAN 31 DESEMBER 2013 Dinyatakan dalam Dolar AS, kecuali dinyatakan lain NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 MARCH 2014 AND 31 DECEMBER 2013 Expressed in US Dollars, unless otherwise stated 2. IKHTISAR KEBIJAKAN AKUNTANSI PENTING 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Berikut ini adalah kebijakan akuntansi penting yang diterapkan dalam penyusunan laporan keuangan konsolidasian Grup, yang sesuai dengan Standar Akuntansi Keuangan di Indonesia. Laporan keuangan konsolidasian ini juga disusun berdasarkan peraturan yang ditetapkan oleh Otoritas Jasa Keuangan “OJK” No. VIII.G.7 mengenai Pedoman Penyajian Laporan Keuangan. Kebijakan ini telah diterapkan secara konsisten terhadap semua tahun yang disajikan, kecuali dinyatakan lain. Presented below are the significant accounting policies adopted in preparing the consolidated financial statements of the Group, which are in conformity with Indonesian Financial Accounting Standards. The consolidated financial statements have also been prepared in conformity with regulation of the Financial Services Authority “OJK” No. VIII.G.7 for the Guidance on Financial Statement Presentation. These policies have been consistently applied to all of the years presented, unless otherwise stated. a. Kelangsungan usaha a. Going concern Laporan keuangan konsolidasian telah disusun atas dasar kelangsungan usaha yang mengasumsikan bahwa Grup dapat merealisasikan aset dan memenuhi liabilitasnya ketika jatuh tempo melalui kegiatan usaha normal di masa mendatang. The consolidated financial statements have been prepared on a going concern basis, which assumes that the Group will be able to realise its assets and discharge its liabilities in the normal course of business as they come due into the foreseeable future. Selama periode yang berakhir pada tanggal 31 Maret 2014, Grup mengalami rugi komprehensif sebesar AS85 juta dan defisiensi ekuitas sebesar AS393 juta. Pada tanggal 31 Maret 2014, Grup memiliki kas dan setara kas yang tidak dibatasi penggunaannya sebesar AS69 juta. During the period ended 31 March 2014, the Group incurred a comprehensive loss of US85 million and a deficiency in equity of US393 million. As at 31 March 2014, the Group had unrestricted cash and cash equivalents of US69 million. Pada tanggal 31 Maret 2014 dan 31 Desember 2013, Perusahaan melanggar semua ketentuan finansial perjanjian pinjamannya dengan Standard Chartered Bank antara lain ketentuan untuk menjaga nilai kekayaan bersih berwujud minimumnya sebesar AS800 juta Catatan 17a. Nilai kekayaan bersih berwujud Grup pada tanggal 31 Maret 2014 dan 31 Desember 2013 berada dibawah batas minimum tersebut terutama sebagai akibat dari rugi operasi AKT dan pencatatan dengan metode ekuitas porsi rugi dari entitas pengendalian bersama. Sebagai akibat dari pelanggaran persyaratan tersebut dan tidak ada penerimaan pembatalan persyaratan tertentu dan restrukturisasi pinjaman, Grup mencatat seluruh pinjaman kepada SCB sebagai liabilitas jangka pendek dan karenanya liabilitas jangka pendek melebihi aset lancar sebesar AS570 juta. As at 31 March 2014 and 31 December 2013, the Company had breached its financial covenants with Standard Chartered Bank, among others the requirement to maintain its minimum tangible net worth to not less than US800 million Note 17a. The Group’s tangible net worth position as at 31 March 2014 and 31 December 2013 stood below the covenant minimum level primarily as a result of the operational loss of AKT, equity accounting of its proportionate share of the losses from jointly controlled entities and recording impairment losses from its invesment in jointly controlled entities. As the breach of the borrowing covenants was not rectified nor the restructuring of the loan agreement completed as at 31 December 2013, the Group recorded all of its borrowings from SCB as current liabilities, hence current liabilities exceeded current assets by US570 million. Setelah tanggal 31 December 2013, Perusahaan melakukan negosiasi ulang atas beberapa ketentuan dan kondisi perjanjian pinjaman termasuk efektivitas beberapa ketentuan sampai dengan Juli 2015 namun demikian Perusahaan harus mematuhi ketentuan selama tahun 2014. Tidak ada pembayaran pokok pinjaman sampai 1 April 2015. Oleh karena itu perusahaan mencatat seluruh hutang SCB pada hutang lancer pada 31 Maret 2014. Subsequent to 31 December 2013, the Company renegotiated various terms and conditions of the loan agreement with SCB including the waiver of the covenant requirements until July 2015, such that the Company will not breach those covenants throughout 2014. There is no principal repayment required until 1 April 2015. The Company has therefore recorded all of its borrowings from SCB as non current liabilities as at 31 March 2014. PT BORNEO LUMBUNG ENERGI METAL Tbk. DAN ENTITAS ANAKAND SUBSIDIARIES Lampiran 58 Schedule CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN 31 MARET 2014 DAN 31 DESEMBER 2013 Dinyatakan dalam Dolar AS, kecuali dinyatakan lain NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 MARCH 2014 AND 31 DECEMBER 2013 Expressed in US Dollars, unless otherwise stated

2. IKHTISAR KEBIJAKAN AKUNTANSI PENTING