These consolidated financial statements are originally issued in Indonesian language.
PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Nine months ended September 30, 2008 and 2007 Expressed in rupiah, unless otherwise stated
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13. OBLIGATIONS UNDER CAPITAL LEASE Continued b. GTM
In October 2007, GTM entered into a finance lease transaction with PT Tifa Finance covering certain machinery and equipment units for a total amount of Rp3,350,000,000. The lease period is
for 36 months and GTM has an option to purchase the leased assets by payment of the residual value of Rp350,000,000 for all the equipment units at the end of the lease period.
The above obligations under capital lease are secured by the related leased assets. Based on the lease agreement, GTM is not permitted to sell or transfer its leased assets to other parties.
14. CAPITAL STOCK
The details of share ownership as of September 30, 2008 and 2007 are as follows:
Number of Shares Percentage Issued
and of
Shareholders Fully
Paid Ownership
Amount
HeidelbergCement AG, Germany 2,397,980,863
65.14 1,198,990,431,500 PT Mekar Perkasa
479,735,234 13.03
239,867,617,000 Public
803,515,602 21.83
401,757,801,000
Total 3,681,231,699
100.00 1,840,615,849,500
The Company’s shares are listed on the Indonesia Stock Exchange formerly Jakarta Stock Exchange and Surabaya Stock Exchange.
15. ADDITIONAL PAID-IN CAPITAL
This account represents the excess of the amounts received andor the carrying value of converted debentures and bonds over the par value of the shares issued after offsetting all stock issuance costs.
16. OTHER PAID-IN CAPITAL
This account represents the difference between the agreed exchange rate for the conversion of the foreign currency debentures into equity and the exchange rate at the date of the transaction.
17. CASH DIVIDENDS
Based on the minutes of the shareholders’ annual general meeting held on May 14, 2008 and May 3, 2007, the shareholders agreed to distribute cash dividends amounting to Rp147,249,267,960 and
Rp110,436,950,970 to be taken from the Company’s retained earnings as of December 31, 2007 and 2006. The cash dividends were paid on June 24, 2008 and July 16, 2007. The unclaimed cash
dividends amounting to Rp205,512,389 and Rp148,483,909 as of September 30, 2008 and 2007, respectively, are presented as part of “Other Payables to Third Parties” in the consolidated balance
sheets.
18. RETAINED EARNINGS
