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fixed assets relating to the construction of a Subsidiary’s factory in Lamongan, which would have higher production capacity. The factory construction was completed in 2015.
a. Cash and Cash Equivalents December 31, 2016 compared to December 31, 2015
The total cash and cash equivalents of the Company for the year ended on December 31, 2016 decreased by Rp85,881,425,756 or 74.0, from Rp116,330,998,235 in the year ended on December 31,
2016, to Rp30,449,572,479. The decrease was mainly due to procurement of raw materials at the end of 2016.
December 31, 2015 compared to December 31, 2014
The total cash and cash equivalents of the Company for the year ended on December 31, 2015 increased by Rp89,327,323,183 or 330.8, from Rp27,003,675,052 in the year ended on December 31,
2014, to Rp116,330,998,235. The increase was due to an increase in savings in USD and placement of proceeds from disposal of fixed assets conducted at the end of 2015 in time deposits in Bank BNI.
b. Trade Receivables - Third Parties, net December 31, 2016 compared to December 31, 2015
The total net trade receivables, from third parties, of the Company for the year ended on December 31, 2016 increased by RpRp84,657,536,316 or 82.0, from Rp103,254,127,607 in the year ended on
December 31, 2015, to Rp187,911,663,923.The increase was mainly due to an increase in trade receivables from the Company’s export customers, which was in line with an increase in the Company’s
export sales.
December 31, 2015 compared to December 31, 2014
The total net trade receivables, from third parties, of the Company for the year ended on December 31, 2015 decreased by Rp23,199,087,471 or 18.4, from Rp126,453,215,078 in the year ended on
December 31, 2014, to Rp103,254,127,607. The decrease was mainly due to a decrease in trade receivables from the Company’s domestic customers as a result of a decrease in wood sales by the
Company.
c. Inventories December 31, 2016 compared to December 31, 2015
The total inventories of the Company for the year ended on December 31, 2016 increased by Rp317,236,353,126 or 55.0, from Rp575,780,894,734 in the year ended on December 31, 2015, to
Rp893,017,247,860. The increase was mainly due to an increase in the Company’s raw materials and supplies, and finished goods stored in preparation for sales in early 2017.
December 31, 2015 compared to December 31, 2014
The total inventories of the Company for the year ended on December 31, 2015 increased by Rp205,051,763,361 or 55.3, from Rp370,729,131,373 in the year ended on December 31, 2014,
Rp575,780,894,734. The increase was mainly due to an increase in the Company’s raw materials and supplies to meet the increasing production requirements that were in line with the increase in sales.
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d. Advances for purchase of current assets December 31, 2016 compared to December 31, 2015
