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INFORMATION ON THE BUSINESS SEGMENT continued
33
OPERATING INCOME LOSS - INFORMATION BASED ON PRODUCTS:
CONTINUING OPERATION
Garments 14,970,017
7,534,643 1,590
860 Others
7,824,389 5,786,040
831 660
Total 7,145,628
1,748,603 759
200
Elimination 248,397
236,328 26
27
Total 7,394,025
1,984,931 785
227
DISCONTINUING OPERATION
Textiles -
- -
-
Total -
- -
-
NET INCOME LOSS - INFORMATION BASED ON ENTITY:
CONTINUING OPERATION
PT Eratex Djaja Tbk 5,214,117
82,184,935 553
9,368 PT Asiatex Garmindo
72,049 686,433
8 78
PT Eratex Hongkong Ltd 1,243,520
811,003 132
92 PT Eratex Garment
58,725 -
6 -
Total 6,444,313
82,309,505 683
9,382
Elimination 248,397
236,328 26
27
Total 6,195,916
82,073,177 657
9,355
DISCONTINUING OPERATION
PT Eratex Djaja Tbk -
24,593 -
3
Total -
24,593 -
3
NET INCOME LOSS - INFORMATION BASED ON PRODUCTS:
CONTINUING OPERATION
Garments 5,142,068
81,498,502 545
9,290 Others
1,302,245 811,003
138 92
Total 6,444,313
82,309,505 683
9,382
Elimination 248,397
236,328 26
27
Total 6,195,916
82,073,177 657
9,355
DISCONTINUING OPERATION
Textiles -
24,593 -
3
Total -
24,593 -
3 Dec 31, 2012 Dec 31, 2011 Dec 31, 2012 Dec 31, 2011
Rp Rp
US US
PT ERATEX DJAJA Tbk AND ITS SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
continued
For the years ended December 31, 2012 and 2011 Expressed in thousands of Rupiah and in thousands of United States Dollars, unless otherwise stated
PT ERATEX DJAJA Tbk AND ITS SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
continued
For the years ended December 31, 2012 and 2011 Expressed in thousands of Rupiah and in thousands of United States Dollars, unless otherwise stated
MANAGEMENT RISK
The main financial risks encountered by the Entity are interest rate risk, liquidity risk and currency risk. The Entity try to minimize the potential negative impact of the risks by using risk management.
a. Interest rate risk
Interest rate risk on cash flow is a risk that future cash flows of a financial instrument will fluctuate due to changes in market interest rates.
Compared with other risk, this risk did not significantly affect the performance of cash flows as the fluctuations in interest rates is relatively small.
b. Liquidity risk
Liquidity risk is the risk which the Entity will have difficulties in acquiring funds to meet its commitments. The Entity manages this risk by conducting planning and evaluation of cash flows and cash equivalents regularly,
comprehensively and thoroughly. In addition, the company always maintain communication with the bank creditors, in order to get support when the liquidity risk is significantly increase.
33
34
ASSETS - INFORMATION BASED ON ENTITY:
CONTINUING OPERATION
PT Eratex Djaja Tbk 439,963,028
191,272,347 45,498
21,093 PT Asiatex Garmindo
518,343 2,426,693
54 268
PT Eratex Hongkong Ltd 7,207,740
4,657,255 745
514 PT Eratex Garment
741,674 682,948
76 75
Total 448,430,785
199,039,243 46,373
21,950
Elimination 15,789,557
16,053,492 1,633
1,770
Total 432,641,228
182,985,751 44,740
20,180
DISCONTINUING OPERATION
PT Eratex Djaja Tbk 773,646
20,227,291 80
2,231
Total 773,646
20,227,291 80
2,231
ASSETS - INFORMATION BASED ON PRODUCTS:
CONTINUING OPERATION
Garments 440,481,371
193,699,040 45,551
21,361 Others
7,949,414 5,340,203
822 589
Total 448,430,785
199,039,243 46,373
21,950
Elimination 15,789,557
16,053,492 1,633
1,770
Total 432,641,228
182,985,751 44,740
20,180
DISCONTINUING OPERATION
Textiles 773,646
20,227,291 80
2,231
Total 773,646
20,227,291 80
2,231 Dec 31, 2012
Dec 31, 2011 Dec 31, 2012
Dec 31, 2011 Rp
Rp US
US
INFORMATION ON THE BUSINESS SEGMENT continued
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b. Liquidity risk continued
The table below summarizes the maturity profile of the Entity and Subsiadiaries financial liabilities as of December 31, 2012:
FINANCIAL LIABILITIES
Short-term loans 68,221,519
- -
68,221,519 Trade payables
78,605,071 -
- 78,605,071
Accrued expenses 14,513,601
- -
14,513,601 Long-term loans
5,473,245 21,611,626
60,382,288 87,467,159
Payables from related parties 6,285,500
30,944,000 46,416,000
83,645,500 Others current financial liabilities
955,532 616,196
- 1,571,728
Total financial liabilities 174,054,468
53,171,822 106,798,288
334,024,578 c. Credit risk
Credit risk is the risk where the Entity suffered losses due to customers who fail to meet their debt repayment obligations to the Entity.
Among 94 of total sales are made with term of payment between 30 days to 45 days after shipment. The entity manages this credit risk by conducting credit risk evaluation of the buyers before giving them credit term.
The Entitys financial instruments that potentially carry to credit risk consist of cash and cash equivalents and accounts receivables.
d. Currency risk
