PT SUMMARECON AGUNG Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS OF JUNE 30, 2013 AND DECEMBER 31, 2012, 2011 AND 2010 AND FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2013 AND 2012 UNAUDITED
AND YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010 Expressed in thousands of rupiah, unless otherwise stated
75
15. LOANS FROM BANKS AND FINANCING INSTITUTIONS continued
The details of future installments of the long-term loans from third parties are as follows:
December 31, Year Due
June 30, 2013 2012
2011 2010
2011 -
- -
171,636,980 2012
- -
195,556,333 177,917,932
2013 57,187,092
131,225,709 132,439,547
61,016,239 2014
160,921,828 160,642,496
119,150,078 30,727,292
2015 215,953,484
192,518,431 80,212,645
30,500,000 2016
140,421,928 38,735,720
32,684,880 -
2017 175,602,739
55,445,393 52,295,807
- 2018
142,437,062 66,437,062
58,832,783 -
2019 181,230,215
68,730,215 58,832,783
- 2020
206,330,232 69,330,243
44,124,587 -
2021 22,743,102
22,743,102 14,708,196
- 2022
3,766,556 3,766,556
- -
Total installments 1,306,594,238
809,574,927 788,837,639
471,798,443
PT Bank OCBC NISP Tbk OCBC
On May 21, 2012, the Company obtained a “Demand Loan” credit facility from OCBC with a maximum amount of Rp100,000,000 and foreign currency FX transaction facility of US5,000,000, with a credit
period of one year. There are no assets pledged for this credit facility. The outstanding loan balance as of June 30, 2013 amounts to Rp55,000,000. There is no
outstanding loan balance from this facility as of December 31, 2012.
Under the loan agreement of the Company with OCBC, the Company generally must comply with several covenants, including the following:
a. The Company must provide written notice to OCBC prior to performing the following activities, among others:
1 Change the composition of shareholders direct and indirect and the composition of the Boards of Directors and Commissioners
2 Involve in litigation matters and disputes, which affect more than 20 of the total equity of the Company
3 Involve in default condition under the Company’s loan agreements 4 Enter into new loans or additional credit facilities with a nominal value for each transaction of
more than 20 of the total equity of the Company 5 Pay dividend.
b. The Company must obtain written approval from OCBC prior to performing the following activities, among others:
1 Sell or transfer the Company’s assets to other parties, which affects more than 20 of the total equity of the Company
2 Change the Company’s main business activities and scale of business significantly 3 Provide loan to other parties, except for loan prior to this loan agreement
4 Act as guarantor to other parties 5 Pledge the Company’s assets to other parties, except for assets that have been pledged prior
to this loan agreement.
PT SUMMARECON AGUNG Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS OF JUNE 30, 2013 AND DECEMBER 31, 2012, 2011 AND 2010 AND FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2013 AND 2012 UNAUDITED
AND YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010 Expressed in thousands of rupiah, unless otherwise stated
76
15. LOANS FROM BANKS AND FINANCING INSTITUTIONS continued PT Bank OCBC NISP Tbk OCBC continued
c. The Company must authorize OCBC or the officer appointed by OCBC to conduct the following activities, among others:
1 Enter the land and buildings area owned by the Company 2 Observe the Company’s operations
3 Review all the Company’s records, including recordsfinancial statements related to the
Companys operations.
PT Bank Central Asia Tbk BCA
The Company obtained several facilities from BCA as follows: a. Investment credit facility I with a maximum amount of Rp80,000,000, which was fully drawn in
2006 and was paid in quarterly installments starting from September 28, 2007 until June 28, 2011. The outstanding loan balance as of December 31, 2010 amounted to Rp10,000,000. For the year
ended December 31, 2010, the Company made the principal payments totaling Rp20,000,000. This credit facility was fully paid on its maturity date.
b. Investment credit facility II with a maximum amount of Rp150,000,000, which was fully drawn in 2007 and was paid in quarterly installments starting from 2007 until 2012. The outstanding loan
balance as of December 31, 2011 and 2010 amounted to Rp22,500,000 and Rp52,500,000, respectively. For the years ended December 31, 2011 and 2010, the Company made principal
payments totaling Rp30,000,000 each year. This credit facility was fully paid on September 18, 2012.
c. Investment credit facility “Installment Loan II” with a maximum amount of Rp150,000,000, which was fully drawn in 2008 and is payable in quarterly installments starting from 2008 until 2015. The
outstanding loan balance as of June 30, 2013 and December 31, 2012, 2011 and 2010 amounted to Rp73,000,000, Rp85,500,000, Rp106,500,000 and Rp124,500,000, respectively. For the six-
month period ended June 30, 2013 and years ended December 31, 2012, 2011 and 2010, the Company made principal payments totaling Rp12,500,000, Rp21,000,000, Rp18,000,000 and
Rp13,500,000, respectively.
d. Overdraft facility with a maximum amount of Rp80,000,000 with credit period of one year. There was no outstanding drawdown from the facility as of December 31, 2012, 2011 and 2010.
The above loans from BCA are collateralized by trade receivables, investment properties, escrow accounts and restricted time deposits Notes 6, 13 and 14. Interest payments on the loans from BCA
are collateralized by the restricted time deposits in BCA Note 14.
SCK obtained the following credit facilities from BCA: a. Working capital credit facility with a maximum amount of Rp30,000,000 and a credit period of one
year. As of June 30, 2013 and December 31, 2012 and 2011, there was no outstanding loan balance from this facility. As of December 31, 2010, the outstanding loan balance amounted to
Rp3,596,787.
b. Investment credit facility III with a maximum amount of Rp130,000,000 which was fully drawn in August 2008 and is payable in quarterly installments starting 2009 until 2013. The outstanding loan
balance as of June 30, 2013 and December 31, 2012, 2011 and 2010 amounted to Rp8,125,000, Rp24,375,000, Rp56,875,000 and Rp89,375,000, respectively. For the six-month period ended
June 30, 2013 and years ended December 31, 2012, 2011 and 2010, SCK made principal payments amounting to Rp16,250,000, Rp32,500,000, Rp32,500,000 and Rp32,500,000,
respectively.
