PT. TUNAS BARU LAMPUNG Tbk AND ITS SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
MARCH 31,2007 AND 2006 AND FOR THE THREE MONTHS PERIOD THEN ENDED Continued
- 23 - Based on the rating issued by PT Pemeringkat Efek Indonesia Pefindo dated March 31, 2007,
the bonds are rated as idBBB triple B; stable outlook. 18. OTHER LIABILITIES
This account represents the negative goodwill resulting from the acquisition of the 90 ownership shares in ABM. The negative goodwill amortization was credited to the consolidated statements of
income.
19. LONG – TERM BANK LOANS
2007 2006
Rp 000 Rp 000
Syndicated loan coordinated by Bank UFJ Indonesia, US 5,400,000 in 2007 and US 11,100,000 in 2006
49,237,200 100,732,500
Bank Negara Indonesia 60,937,500
92,187,500 Total
110,174,700 192,920,000
Less current maturity 78,924,700
82,977,500 Long-term Bank Loans - Net
31,250,000 109,942,500
Interest rate per annum during the year U.S. Dollar
7,06 - 7,10 6,08 - 7,36
Rupiah
14 15,50
Syndicated Loan In relation to the credit facility agreement dated June 24, 1997 between the Company and several
creditor banks, including Oversea-Chinese Banking Corporation Limited, Singapore branch, and PT Bank UFJ Indonesia formerly PT Bank Sanwa Indonesia as arrangers, the Company obtained
a revolving loan facility with a maximum amount of US 40,000,000, due on June 24, 2004.This loan was used to finance working capital requirements and refinancing of the loans of the
Company and its subsidiaries. This loan is secured with corporate guarantees from BSA, BNIL and BDP, subsidiaries and personal guarantees from Widarto and Santoso Winata, stockholders,
proportionate to the percentage of their ownership in the Company.
The syndicated loan facility has been restructured several times in November 1999, May 2002 and May 2003 through rescheduling the installment of the loan. The last restructuring was in May 2003,
wherein the remaining balance of the loan principal of US 31.750.000 was divided into Tranche A US 20.900.000 and Tranche B US 10.850.000, and rescheduled as follow:
• Tranche A US 20,900,000
The outstanding loan for Tranche A of US 5.400.000 as of March 31,2007 and US 11.100.000 as of Mach 31, 2006 is repayable at the end of every quarter as follow:
Quarterly Total Annual
Installment Installment
US US Due in
2006 1,300,000
5,200,000 2007
1,800,000 7,200,000
Total 12,400,000
PT. TUNAS BARU LAMPUNG Tbk AND ITS SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
MARCH 31,2007 AND 2006 AND FOR THE THREE MONTHS PERIOD THEN ENDED Continued
- 24 - In 2007 and 2006, the Company has paid the syndicated loans principal due for Tranche
A amounting to US 1.800.000 and US 5.200.000, respectively. Interest rate per annum on Tranche A in 2007 are 3,50 above SIBOR for local banks
and 3,00 above SIBOR for offshore banks, meanwhile, in 2005 are 3,25 above SIBOR for local banks and 2,75 above SIBOR for offshore banks.
• Tranche B US 10,850,000
The outstanding balance at final maturity shall be repaid in full on Desember 31, 2007 with a maximum extension of 1 year, subject to quarterly installment at 25 of the
outstanding amount up to December 31, 2008. Interest rate on Tranche B are the same with tranche A
The loan facility was fully paid in 2004 using the proceeds from issuance of the Company’s bonds I yaer 2004.
Bank Mandiri The loan facility with Bank Mandiri represent investment loan received by the Company amounting
to US 5.964.882. This facility was used to finance the power plant project with total value of investment amounting to US 11.450.000. Interest rate for the investment loans was 9,75 per
annum. This facility will mature in the second quarter of 2011. Bank Negara Indonesia
On June 29, 2004, the Company obtained a working capital credit facility from Bank Negara Indonesia with maximum amount of 125.000.000 thousand for additional working capital. The term
of this loan facility is 5 years maturing on June 28,2009. Interests rate per annum in 2007 and 2006 are 14,00, respectively.
The loan facility is secured with corporate guarantee from PT Sungai Budi and personal gurantees from Widarto and Santoso Winata related parties Note 26. As of March 31,2007 and 2006, the
outstanding balance of the working capital loan amounted to Rp. 60.937.500 thousand and Rp. 92.187.500 thousand, respectively.
PT. TUNAS BARU LAMPUNG Tbk AND ITS SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
MARCH 31,2007 AND 2006 AND FOR THE THREE MONTHS PERIOD THEN ENDED Continued
- 25 - 20. CAPITAL STOCK
As of March 31, 2007 by virtue of Notarial Deed No. 28 of Mrs. Kartuti Suntana S,S.H. notary public in Jakarta the company have been increased the Company’s authorized become
Rp. 800.000.000 thousand which divided into 6.400.000 thousand shares, with a par value of Rp. 125,- per share, is as follows:
2007 Number
Percentage Total Paid-up
Name of Stockholder of Shares
of Ownership Capital Rp 000
PT Sungai Budi 809,197,198
19.62 101,149,650
PT Budi Sulfat Jaya 612,695,896
14.86 76,586,987
PT Sungai Budi Perkasa 600,000,000
14.55 75,000,000
PT Budi Alam Kencana 400,000,000
9.70 50,000,000
PT Budi Acid Jaya Tbk 29,400,000
0.71 3,675,000
Widarto - President Director 2,104,200
0.05 263,025
Commissioner 2,104,200
0.05 263,025
Santoso Winata - President Public below 5 each
1,668,716,135 40,46
208,589,517 Total
4,124,217,629 100,00
515,527,204 2006
Number Percentage
Total Paid-up Name of Stockholder
of Shares of Ownership
Capital Rp 000 PT Sungai Budi
809,197,198 50.09
101,149,650 Somers Nominees Far East Limited
279,688,500 17.31
34,961,063 Gov of Singapore Inv Corp Pte Ltd
145,132,970 8.98
18,141,621 PT Budi Acid Jaya Tbk
29,400,000 1.82
3,675,000 Widarto - President Director
701,400 0.04
87,675 Commissioner
701,400 0.04
87,675 Oey Alfred - Director
329,000 0.02
41,125 Santoso W inata - President
Public below 5 each 350,236,732
21.68 43,779,592
Total 1,615,387,200
100,00 201,923,400
21. NET SALES
