PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Nine months ended September 30, 2005 and 2004 Expressed in rupiah, unless otherwise stated
30
10. TAXATION continued
Deferred Tax Benefit Expense
Credited Charged to December 31, 2004 2005 Profit and Loss September 30, 2005
Net Deferred Tax Assets:
Company -
- -
Subsidiaries 4,193,566,217
1,331,878,821 5,525,445,038
Net 4,193,566,217
1,331,878,821 5,525,445,038
Net Deferred Tax Liabilities:
Company 61,494,499,224
251,692,145,104 313,186,644,328 Subsidiaries
- -
-
Net 61,494,499,224
251,692,145,104 313,186,644,328
Deferred Tax Benefit Expense
Credited Charged to December 31, 2003 2004 Profit and Loss
September 30, 2004 Deferred Tax Assets:
Company Tax loss carryforward
507,813,990,861 52,158,553,714
455,655,437,147 Allowance for doubtful accounts and
inventory losses 11,608,313,004
- 11,608,313,004
Estimated liability for employee benefits 4,909,405,499
3,682,054,125 8,591,459,624
Reserve for recultivation 1,745,367,302
- 1,745,367,302
Others 833,851,800
- 833,851,800
Sub-total 526,910,928,466
48,476,499,589 478,434,428,877
Subsidiaries 3,659,625,735
181,732,208 3,477,893,527
Total 530,570,554,201
48,658,231,797 481,912,322,404
Deferred Tax Liabilities:
Company Difference in net book value of fixed
assets between tax base and accounting base
522,984,721,821 44,448,192,736
567,432,914,557 Subsidiaries
598,165,169 191,594,923
789,760,092
Total 523,582,886,990
44,639,787,659 568,222,674,649
Net Deferred Tax Assets:
Company 3,926,206,645
3,926,206,645 -
Subsidiaries 3,352,260,121
504,580,543 2,847,679,578
Net 7,278,466,766
4,430,787,188 2,847,679,578
Net Deferred Tax Liabilities:
Company -
88,998,485,680 88,998,485,680 Subsidiaries
290,799,555 131,253,412
159,546,143
Net 290,799,555
88,867,232,268 89,158,031,823
Management believes that the above deferred tax assets can be fully recovered in future periods.
PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Nine months ended September 30, 2005 and 2004 Expressed in rupiah, unless otherwise stated
31
11. LONG-TERM LOANS FROM BANKS AND FINANCIAL INSTITUTIONS
This account consists of loans from:
2005 2004
Third parties Japanese yen
1,526,422,091,943 2,645,893,676,022 U.S. dollar
1,228,630,559,459 2,145,772,439,611 Rupiah
63,849,605,992 124,347,748,284
Sub-total 2,818,902,257,394 4,916,013,863,917
Related parties see Note 21 U.S. dollar
1,546,500,000,000 104,822,813,505
Total 4,365,402,257,394 5,020,836,677,422
Less portions currently due 412,400,000,000
678,580,000,000
Long-term portion 3,953,002,257,394 4,342,256,677,422
The balances of the above loans in their original currencies are as follows:
2005 2004
Japanese yen Third parties
MG Leasing Corporation, Tokyo JP¥
8,000,000,000 JP¥ -
Marubeni Corporation, Tokyo 5,402,284,169
27,027,196,856 Japan Bank for International Corporation, Tokyo
3,326,912,503 4,990,374,503
Total Japanese yen loans JP¥ 16,729,196,672 JP¥ 32,017,571,359
U.S. dollar Third parties
PT Bank Central Asia Tbk. BCA US
32,812,655 US 54,169,001
Bayerische Hypo Vereinsbank AG, Singapore 17,497,664
8,295,927 BNP Paribas, Singapore Branch
7,952,917 15,488,385
Mizuho Trust Banking Co., Ltd., Tokyo 7,621,043
14,842,058 Credit Industriel et Commercial, Singapore
5,839,167 11,371,836
Barclays Bank PLC 5,483,928
22,401,789 Kawasaki Heavy Industries Limited, Tokyo
5,288,043 10,298,518
Deutsche Bank AG, London 1,820,704
14,898,176 Mizuho Global, Ltd., Tokyo
- 25,780,949
Other creditors each below US10 million 34,852,701
56,452,537 Related parties
HC Finance B.V., Netherlands 150,000,000
- WestLB AG, Tokyo
- 9,697,067
WestLB Asia Pacific Ltd., Singapore -
1,733,992
Total U.S. dollar loans US
269,168,822 US 245,430,235
Rupiah Third parties
PT Bank Central Asia Tbk. BCA 45,832,153,944
79,545,543,819 PT Bank Mandiri Persero Tbk.
18,017,452,048 35,089,168,636
JPMorgan Europe Ltd., London -
9,713,035,829
Total rupiah loans 63,849,605,992
124,347,748,284
PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Nine months ended September 30, 2005 and 2004 Expressed in rupiah, unless otherwise stated
32
11. LONG-TERM LOANS FROM BANKS AND FINANCIAL INSTITUTIONS continued
