INVENTORIES MNC Land AR2016 070617 Final LR1

Indonesian language. PT MNC LAND Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Untuk tahun yang berakhir pada tanggal 31 Desember 2016 Disajikan dalam Rupiah, kecuali dinyatakan lain PT MNC LAND Tbk AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS For the year ended December 31, 2016 Expressed in Rupiah, unless otherwise stated 57 11. TANAH UNTUK PENGEMBANGAN lanjutan 11. LAND FOR DEVELOPMENT continued LNP memiliki hak legal atas tanah untuk pengembangan berupa 478 sertifikat yang terbagi atas 477 Sertifikat Hak Guna Bangunan HGB dan 1 Sertifikat Hak Guna Usaha HGU, seluruhnya atas nama LNP sebelumnya bernama PT Fusion Plus Indonesia. The legal rights of the land for development owned by LNP totalling 478 certificates which consist of 477 certificates of “Hak Guna Bangunan” HGB and 1 certificate of “Hak Guna Usaha” HGU, are registered under the name of LNP formerly, PT Fusion Plus Indonesia. Pada tanggal 31 Desember 2016 dan 2015, manajemen berkeyakinan bahwa tidak terdapat penurunan nilai atas tanah untuk pengembangan. As of December 31, 2016 and 2015, the management believes there is no impairment of land for development. 12. ASET TETAP 12. FIXED ASSETS Rincian aset tetap adalah sebagai berikut: The details of fixed assets are as follows: 2016 Pengurangan dan Reklasifikasi Saldo Awal Penambahan Deductions and Saldo Akhir Beginning Balance Additions Reclassifications Ending Balance Nilai Tercatat Carrying Value Tanah 2.008.200.448.000 1.203.660.000 - 2.009.404.108.000 Land Bangunan dan prasarana 1.455.829.757.563 868.476.015 - 1.456.698.233.578 Building and improvements Kendaraan bermotor 36.536.119.604 1.491.600.000 2.924.161.670 35.103.557.934 Vehicles Peralatan kantor 355.851.442.028 8.953.437.542 - 364.804.879.570 Office equipments Peralatan restoran 57.321.850.053 20.011.240 - 57.341.861.293 Restaurant equipments Peralatan bangunan 102.934.769.344 5.508.304.991 - 108.443.074.335 Building equipments Landscape 10.675.730.668 - - 10.675.730.668 Landscape Lapangan golf 61.694.264.645 - - 61.694.264.645 Golf course Aset dalam penyelesaian 208.741.468.675 383.620.697.512 - 592.362.166.187 Construction in progress Total 4.297.785.850.580 401.666.187.300 2.924.161.670 4.696.527.876.210 Total Akumulasi Penyusutan Accumulated Depreciation Bangunan dan prasarana 629.659.335.336 66.122.561.264 - 695.781.896.600 Building and improvements Kendaraan bermotor 21.484.858.050 5.826.599.316 1.818.469.807 25.492.987.559 Vehicles Peralatan kantor 285.027.545.790 26.633.516.423 - 311.661.062.213 Office equipments Peralatan restoran 8.007.096.734 4.244.377.194 - 12.251.473.928 Restaurant equipments Peralatan bangunan 64.210.990.771 12.269.816.547 - 76.480.807.318 Building equipments Landscape 7.398.404.166 533.786.532 - 7.932.190.698 Landscape Lapangan golf 37.208.541.567 2.725.358.243 - 39.933.899.810 Golf course Total 1.052.996.772.414 118.356.015.519 1.818.469.807 1.169.534.318.126 Total Nilai Buku 3.244.789.078.166 3.526.993.558.084 Net Book Value 2015 Pengurangan dan Reklasifikasi Saldo Awal Penambahan Deductions and Saldo Akhir Beginning Balance Additions Reclassifications Ending Balance Nilai Tercatat Carrying Value Tanah 1.978.600.827.687 29.599.620.313 - 2.008.200.448.000 Land Bangunan dan prasarana 1.424.463.286.651 31.374.917.912 8.447.000 1.455.829.757.563 Building and improvements Kendaraan bermotor 32.440.228.863 4.295.890.741 200.000.000 36.536.119.604 Vehicles Peralatan kantor 343.073.915.311 12.777.526.717 - 355.851.442.028 Office equipments Peralatan restoran 57.225.470.133 96.379.920 - 57.321.850.053 Restaurant equipments Peralatan bangunan 87.580.575.755 15.354.193.589 - 102.934.769.344 Building equipments Landscape 10.642.725.213 33.005.455 - 10.675.730.668 Landscape Lapangan golf 61.565.432.645 128.832.000 - 61.694.264.645 Golf course Aset dalam penyelesaian 58.479.220.135 150.262.248.540 - 208.741.468.675 Construction in progress Total 4.054.071.682.393 243.922.615.187 208.447.000 4.297.785.850.580 Total Akumulasi Penyusutan Accumulated Depreciation Bangunan dan prasarana 564.998.551.851 64.667.153.941 6.370.456 629.659.335.336 Building and improvements Kendaraan bermotor 15.215.832.664 6.306.525.386 37.500.000 21.484.858.050 Vehicles Peralatan kantor 260.130.745.574 24.896.800.216 - 285.027.545.790 Office equipments Peralatan restoran 1.002.445.453 7.004.651.281 - 8.007.096.734 Restaurant equipments Peralatan bangunan 45.569.884.402 18.641.106.369 - 64.210.990.771 Building equipments Landscape 6.866.456.546 531.947.620 - 7.398.404.166 Landscape Lapangan golf 34.717.268.615 2.491.272.952 - 37.208.541.567 Golf course Total 928.501.185.105 124.539.457.765 43.870.456 1.052.996.772.414 Total Nilai Buku 3.125.570.497.288 3.244.789.078.166 Net Book Value Indonesian language. PT MNC LAND Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Untuk tahun yang berakhir pada tanggal 31 Desember 2016 Disajikan dalam Rupiah, kecuali dinyatakan lain PT MNC LAND Tbk AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS For the year ended December 31, 2016 Expressed in Rupiah, unless otherwise stated 58 12. ASET TETAP lanjutan 12. FIXED ASSETS continued Penyusutan untuk tahun yang berakhir pada tanggal-tanggal 31 Desember 2016 dan 2015 dibebankan pada akun-akun sebagai berikut: Depreciation for the years ended December 31, 2016 and 2015 was charged to the following accounts: 2016 2015 Beban pokok pendapatan 102.401.446.420 103.223.833.058 Cost of revenue Beban umum dan administrasi General and administrative expenses Catatan 34 15.954.569.099 21.315.624.707 Note 34 Total 118.356.015.519 124.539.457.765 Total Rincian penjualan aset tetap adalah sebagai berikut: The details of sale of fixed assets are as follows: 2016 2015 Harga jual 1.351.149.313 162.500.000 Proceeds from sale Nilai buku neto 1.105.691.863 164.576.544 Net book value Laba rugi penjualan aset tetap 245.457.450 2.076.544 Gain loss on sale of fixed assets Pada tanggal 31 Desember 2016 dan 2015, sebagian aset tetap digunakan sebagai jaminan atas utang jangka panjang - utang ke lembaga pembiayaan Catatan 23. As of December 31, 2016 and 2015, some of fixed assets are used as collateral for long-term liabilities - loans to financing institution Note 23. Pada tanggal 31 Desember 2016 dan 2015, aset tetap NGI, entitas anak, berupa bangunan The Westin Resort Nusa Dua dan Bali International Convention Center yang berlokasi di Bali masing-masing sebesar Rp478.329.115.698 dan Rp461.368.794.447 digunakan sebagai jaminan atas utang jangka panjang - utang bank kepada PT Bank CIMB Niaga Tbk dan PT Bank ICBC Indonesia Catatan 21. As of December 31, 2016 and 2015, fixed asset of NGI, a subsidiary, which is bulding of The Westin Resort Nusa Dua and Bali International Convention Center located in Bali amounting to Rp478,329,115,698 and Rp461,368,794,447, respectively, were used as collateral for long-term liabilities - bank loan to PT Bank CIMB Niaga Tbk and PT Bank ICBC Indonesia Note 21. Pada 31 Desember 2016, aset tetap kecuali tanah dan persediaan aset real estat Catatan 7, telah diasuransikan kepada PT MNC Asuransi Indonesia, pihak berelasi dan beberapa perusahaan asuransi pihak ketiga lainnya terhadap risiko kebakaran, gempa bumi dan risiko lainnya, dengan total pertanggungan sebesar USD116.912.500 dan Rp70.253.436.853. Manajemen berpendapat bahwa nilai pertanggungan tersebut cukup untuk menutup kemungkinan kerugian atas risiko tersebut. As of December 31, 2016, fixed asset except for land and inventories real estate assets Note 7, are covered by insurance against fire, earthquake and other risks to PT MNC Asuransi Indonesia, related party and other third party with sum insured amounted to USD116,912,500 and Rp70,253,436,853. Management believes that the insurance coverage is adequate to cover possible losses arising from such risks. Nilai wajar aset tetap berupa tanah dan bangunan pada tanggal 31 Desember 2016 sebesar Rp5,5 triliun yang ditentukan berdasarkan penilai independen KJPP Aksa, Nelson dan Rekan, KJPP Rengganis, Hamid dan Rekan dan KJPP Wiseso Saladin dan Rekan dalam laporannya masing-masing tertanggal 27 April 2016, 10 Maret 2017 dan 28 Februari 2017. Manajemen berpendapat bahwa tidak terdapat kejadian atau perubahan keadaan yang mengindikasikan penurunan nilai aset tetap pada tanggal pelaporan. The fair value of the fixed assets consists of land and buildings as of December 31, 2016 amounted to Rp5.5 trillion, which was determined by independent appraisers KJPP Aksa, Nelson dan Rekan, KJPP Rengganis, Hamid dan Rekan and KJPP Wiseso Saladin dan Rekan based on its report dated April 27, 2016, March 10, 2017 and February 28, 2017. Management believes that there are no events or changes in circumstances which may indicate an impairment in the value of fixed assets as of the reporting date. 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