NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of 30 June 2012 unaudited and 31 December 2011 audited and
For the period of six months ended 30 June 2012 and 2011 unaudited
Expressed in thousand of rupiah, unless otherwise stated
34
6. TRADE RECEIVABLES
The details of trade receivables are as follows:
2012 2011 Related parties Note 33
Sale of offices 1,078,182
8,886,569 Sale of landplots
39,872 1,366,364
Third parties
Sale of apartment units 612,325
1,414,623 Sale of houses, shops and landplots
21,016,331 10,875,927
Rental of retail and commercial investment properties 18,813,175
5,171,417 Hotel services
2,019,670 1,236,633
Rental of residential and office investment properties 2,928,989
3,836,790 Monthly membership fees in sports club
844,249 1,638,794
Total trade receivables 47,352,793
34,427,117
The aging analysis of trade receivables is presented below:
2012 2011
Current 24,234,977 20,324,655
Overdue: 1 to 30 days
15,991,456 7,890,341
31 to 60 days 2,388,369
2,781,350 61 to 90 days
2,278,032 1,080,533
Over 90 days 2,459,959
2,350,238
Total trade receivables 47,352,793
34,427,117
As of 30 June 2012 and 31 December 2011, trade receivables amounting to Rp2,912,938,- and Rp8,535,523, respectively, are pledged as collateral for loans payable to BCA Note 15.
Based on a review of the status of the individual trade receivables at the end of the year, the Company and Subsidiaries’ management believes that all of the trade receivables are fully collectible.
7. OTHER RECEIVABLES
This account consists of receivables from :
2012 2011
Mantolli International
Corporation, Republik Mauritius
29,986,781 29,986,781
Perhimpunan Penghuni Rumah Susun Hunian -
82,781 Others
15,242,882 10,021,011
Total other receivables 45,229,663
40,090,573
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of 30 June 2012 unaudited and 31 December 2011 audited and
For the period of six months ended 30 June 2012 and 2011 unaudited
Expressed in thousand of rupiah, unless otherwise stated
35 The receivable from Mantolli is non-interest bearing and is collateralized by shares of stock of PT
Jakartabaru Graha Permai JBGP owned by Mantolli. The Company has the right to take over the collateral if Mantolli is not able to pay the receivable. This receivable was initially due on 18 December
2009 but this date was extended to 30 December 2013 and is repayable in annual installments of Rp17,484,000 each starting from 2009, with the final installment being due on 30 December 2013.
Installments were paid annually starting 31 December 2009.
Based on the review of the status of the individual receivables at the end of the year, management believes that all other receivables are fully collectible.
8. INVENTORIES
Inventories consist of:
2012 2011
Inventories available for sale Landplots
189,793,817 187,409,077
Houses 37,018,323
273,979,815 Shops
10,986,070 9,106,572
Apartments 344,347
344,347 Total Inventories available for sale
238,142,557 470,839,811
Inventories under developmentconstruction Apartments
108,930,279 100,500,221
Buildings 1,378,963,544
899,845,793 Land
803,901,138 1,259,274,168
Total Inventories under developmentconstruction 2,291,794,961 2,259,620,182
Others 128,826,582
10,622,416
Total inventories
2,658,764,100 2,741,082,409
The movements in the buildings inventories under construction account are as follows:
2012 2011
Beginning balance 922,110,438
540,462,327 Production
costs 644,687,077
1,281,493,904 Transfer to buildings inventories avaible for sale
187,833,971 922,110,438
Ending balance
1,378,963,544 899,845,793
