KEBIJAKAN DAN TUJUAN MANAJEMEN RISIKO KEUANGAN FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

PT BAKRIE SUMATERA PLANTATIONS Tbk AND SUBSIDIARIES NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS JUNE 30, 2014 AND DECEMBER 31, 2013 AND FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2014 AND JUNE 30, 2013 UNAUDITED Amounts in tables are expressed in thousands of Rupiah, unless otherwise stated 117

38. KEBIJAKAN DAN TUJUAN MANAJEMEN RISIKO KEUANGAN Lanjutan

38. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES Continued

Mata uang asing Angka Setara penuhForeign Rupiah currency Equivalent in Full amount Rupiah Aset Assets Kas USD 5.150.728 62.782.227 Cash EUR 14.909 250.802 Piutang usaha USD 11.514.073 140.345.036 Trade receivables Total aset moneter dalam USD 16.664.801 203.127.263 Total monetary assets denominated mata uang asing EUR 14.909 250.802 in foreign currencies Liabilitas Liabilities Utang usaha - Pihak ketiga USD 7.866.207 95.881.195 Trade payables - Third parties Beban masih harus dibayar USD 35.814.072 436.537.729 Accrued expenses Pinjaman jangka panjang USD 757.260.726 9.230.250.989 Long-term bank loans Total liabilitas moneter dalam Total monetary liabilities mata uang asing USD 800.941.005 9.762.669.913 denominated in foreign currencies Total Liabilitas Moneter dalam Total Monetary Liabilities Denominated mata uang asing - Neto 9.559.291.848 in foreign currencies - Net 2013 31 Desember December 31, Berdasarkan estimasi manajemen, sampai dengan tanggal pelaporan Kelompok Usaha berikutnya, kurs Rupiah terhadap Dolar Amerika Serikat dapat melemahmenguat 1 dibandingkan kurs pada tanggal 30 Juni 2014 dan 31 Desember 2013. Based on management’s estimate, until the Group’s next reporting date, the exchange rate of Rupiah against United States Dollar may weakenstrengthen by 1 compared to the exchange rate as of June 30, 2014 and December 31, 2013. Jika Rupiah melemahmenguat 1 terhadap mata uang Dolar Amerika Serikat, dengan seluruh variabel lain tetap, maka dampak sebelum pajak terhadap laba rugi sebelum manfaat beban pajak pada periode-periode yang berakhir pada tanggal 30 Juni 2014 dan 2013 akan berupa penurunan peningkatan masing-masing sekitar Rp86,70 miliar dan Rp95,60 miliar. Di tahun 2014 dan 2013, dampak fluktuasi nilai tukar Euro Eropa tidak material. If Rupiah had weakenedstrengthened by 1 against United States Dollar, with all other variables held constant, income loss before income tax benefit expense for the six-month periods ended June 30, 2014 and 2013 would have increaseddecreased approximately by Rp86.70 billion and Rp95,60 billion, respectively. In 2014 and 2013, the effect of fluctuations in exchange rates of Euro is not material. Risiko likuiditas Liquidity risk Risiko likuiditas merupakan risiko, yang mana Kelompok Usaha tidak memiliki sumber keuangan yang mencukupi untuk memenuhi liabilitasnya yang telah jatuh tempo. Liquidity risk is the risk whereby the Group does not have sufficient financial resources to discharge its matured liabilities. Kelompok Usaha mengelola risiko likuiditas dengan mempertahankan kas yang cukup, mengelola profil jatuh tempo pinjaman dan sumber pendanaan, serta memastikan tersedianya pendanaan yang cukup dari fasilitas kredit yang ada. Selain itu, Kelompok Usaha juga mengevaluasi proyeksi arus kas dan informasi arus kas aktual serta secara terus menelaah kondisi pasar keuangan untuk kesempatan memperoleh dana, termasuk pinjaman bank dan pasar modal. The Group manages liquidity risk by maintaining sufficient cash, managing the profile of loan maturities and funding sources, and ensuring the availability of funding through an adequate amount of committed credit facilities. In addition, the Group also evaluates its projected and actual cash flow information and continuously assesses conditions in the financial markets for opportunities to pursue fund-raising initiatives, including bank loans and equity markets. PT BAKRIE SUMATERA PLANTATIONS Tbk AND SUBSIDIARIES NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS JUNE 30, 2014 AND DECEMBER 31, 2013 AND FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2014 AND JUNE 30, 2013 UNAUDITED Amounts in tables are expressed in thousands of Rupiah, unless otherwise stated 118

38. KEBIJAKAN DAN TUJUAN MANAJEMEN RISIKO KEUANGAN Lanjutan