PT TRIKOMSEL OKE Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2009 and 2008 Expressed in Rupiah Unless Otherwise Stated
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9. FIXED ASSETS continued
Depreciation charged to operations for the years ended December 31, 2009 and 2008 amounted to Rp10,714,756,655 and Rp9,116,088,401, respectively Note 21.
The computation of gain on sale of fixed assets is as follows:
2009 2008
Proceeds from sales 600,200,000
454,298,155 Net book value
450,804,826 406,950,746
Gain on sale of fixed assets 149,395,174
47,347,409
Gain on sale of fixed assets is recognized as part of “Other Income Charges - Others - Net” account in the consolidated statements of income.
As of December 31, 2009 and 2008, the Company’s vehicle of Rp750,000,000 is pledged as collaterals to consumer financing loan obtained from PT BCA Finance Note 14 and covered by
insurance against losses by fire, theft and other risks under blanket policies from PT Asuransi Jaya Proteksi, third party, with sum insured of Rp750,000,000 and Rp637,500,000 for the first year and
second year, respectively.
The Company’s building located at Mangga Dua Street is under “Usage Rights to Build” “Hak Guna Bangunan” or “HGB” for a term of twenty 20 years, will expire in 2029. The Company’s building at
Palembang Square is under “Freehold Rights” “Hak Milik” with unlimited term.
Based on assessment of the condition of the fixed assets, the Company’s management believes that there is no indication of impairment of assets’ value as of December 31, 2009.
As of December 31, 2009, fixed assets are covered by insurance against losses by fire, flood and other risks under blanket policies of Rp23,763,000,000 from PT Asuransi AIU Indonesia, a third party,
which in the Company’s management’s opinion are adequate to cover possible losses from such risks.
The Company has entered into lease agreements for vehicles with PT Bumiputera-BOT Finance, PT Bank Jasa Jakarta and PT ORIX Indonesia Finance, third parties, with lease terms ranging from
two 2 to three 3 years.
As of December 31, 2008, the net book value of vehicles under finance lease is amounted to Rp1,689,197,110.
The future minimum lease payments based on the above-mentioned lease agreements as of December 31, 2008 are as follows:
2008
Up to one year 767,837,266
More than one year to five years 193,355,000
Total 961,192,266
Less amount applicable to interest expense 83,465,232
Present value of minimum lease payments 877,727,034
Less current maturities 696,750,352
Long-term portion 180,976,682
PT TRIKOMSEL OKE Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2009 and 2008 Expressed in Rupiah Unless Otherwise Stated
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9. FIXED ASSETS continued
