148
Adaro Energy Annual Report 2008 www.adaro.com
Adaro in Summary From Us to You
Running Adaro Management Report
Owning Adaro
PT ADARO ENERGY Tbk Schedule 516
FORMERLY PT PADANG KARUNIA AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2008 AND 2007 Expressed in million Rupiah, unless otherwise stated
3. ACQUISITIONS AND DISPOSALS OF SUBSIDIARIES continued
g. Disposal of PT Padang Mulia
On 28 February 2007, the Company disposed of all of its 90 interest in PT Padang Mulia “PM” to BAS and AK for Rp 1,125. This disposal was accounted for as required under PSAK No. 38 Revised 2004, since the Company, BAS and AK
are entities under common control.
2007
Cash and cash equivalents 11
Prepayments 46
Amounts due from related parties 625
Fixed assets, net 69
Deferred expenses, net 8,525
Trade payables 1,515
Taxes payable 254
Amounts due to related parties 6,736
Net assets 771
Interest disposed of 90
Net assets disposed of 694
Adjustment to net assets disposed of: - Difference in value from restructuring transactions of entities under common control
1,272 - Adjustment to the net assets of the subsidiary eliminated previously in the consolidation process
841 Cash received from disposal of subsidiary
1,125 Cash and cash equivalents in PM
11 Net cash inflow from disposal of subsidiary
1,114
h. Disposal of PT Talenta Bumi
On 23 February 2007, the Company disposed of all of its 70 interest in PT Talenta Bumi “TB” to BAS and AK for Rp 175. This disposal was accounted for as required under SFAS No. 38 Revised 2004, since the Company, BAS and AK are
entities under common control.
2007
Net liabilities disposed of 49,189
Adjustment to net liabilities disposed of: - Difference in value from restructuring transactions of entities under common control
56,367 - Adjustment to the net assets of the subsidiary eliminated previously in the consolidation process
7,003 Cash received from disposal of subsidiary
175 Cash and cash equivalents in TB
92 Net cash inflow from disposal of subsidiary
83
i. Disposal of PT Anugerah Kasih
On 23 February 2007, the Company disposed of all of its interest in AK to Theodore Permadi Rachmat and Garibaldi Thohir the “Buyers” for Rp 990. The disposal was accounted for as required under SFAS No. 38 Revised 2004, since the Buyers
are controlling parties of the Company.
2007
Cash and cash equivalents -
Amounts due from related parties 1,000
Net assets 1,000
Interest disposed of 99
Net assets disposed of 990
Adaro Energy Annual Report 2008 www.adaro.com
149
Contact Us Governing Adaro
Financial Report Corporate Social Responsibility
PT ADARO ENERGY Tbk Schedule 517
FORMERLY PT PADANG KARUNIA AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2008 AND 2007 Expressed in million Rupiah, unless otherwise stated
3. ACQUISITIONS AND DISPOSALS OF SUBSIDIARIES continued
i. Disposal of PT Anugerah Kasih continued
2007
Net assets disposed of 990
Adjustment to net assets disposed of: - Difference in value from restructuring transactions of entities under common control - at acquisition
4,038 - Difference in value from restructuring transactions of entities under common control - at disposal
4,038 Cash received from disposal of subsidiary
990 Cash and cash equivalents in AK
- Net cash inflow from disposal of subsidiary
990
j. Disposal and acquisition of PT Karunia Barito Sejahtera
On 28 February 2007, the Company disposed of all of its interest in PT Karunia Barito Sejahtera “KBS” to BAS and AK for Rp 248. This disposal was accounted for as required under SFAS No. 38 Revised 2004, since the Company, BAS and AK
are entities under common control.
2007
Cash and cash equivalents -
Amounts due from related parties 250
Net assets 250
Interest disposed of 99
Net assets disposed of 248
Adjustment to net assets disposed of: - Difference in value from restructuring transactions of entities under common control - at acquisition
1,009 - Difference in value from restructuring transactions of entities under common control - at disposal
1,009 Cash received from disposal of subsidiary
248 Cash and cash equivalents in KBS
- Net cash inflow from disposal of subsidiary
248 On 30 April 2007, the Company reacquired its 33 interest in KBS for Rp 82. There was no difference between acquisition
cost and net assets acquired.
k. Acquisition and disposal of PT Bahtera Alam Tamiang
On 23 February 2007, the Company acquired an additional 0.90 interest in PT Bahtera Alam Tamiang “BAT” for Rp 9 from BAS. The difference between the acquisition cost and net assets acquired was accounted for as a difference in value from
restructuring transaction of entities under common control, as required under SFAS No. 38 Revised 2004, since the Company and BAS are entities under common control.
2007
Purchase consideration through cash payment 9
Net liabilities acquired 75
Difference in value from restructuring transactions of entities under common control 84
On 26 February 2007, BAT increased its issued and paid in capital through the issuance of 170,067 new shares with a par value of Rp 1,000,000 full amount per share. The Company acquired 100 of the shares issued, and the Company’s interest
in BAT increased from 99.90 to 99.99. Details of the net assets acquired and goodwill are as follows:
2007
Purchase consideration through cash payment 170,067
Net assets acquired 170,058
Goodwill 9
