PT SUMMARECON AGUNG Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS OF JUNE 30, 2013 AND DECEMBER 31, 2012, 2011 AND 2010 AND FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2013 AND 2012 UNAUDITED
AND YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010 Expressed in thousands of rupiah, unless otherwise stated
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10. UNDEVELOPED LAND
The details of undeveloped land are as follows:
December 31,
______________
June 30, 2013 2012
2011 2010
Location Area sqm
Amount Area sqm
Amount Area sqm
Amount Area sqm
Amount
Summarecon Bandung 2,043,845 599,973,702
1,735,566 491,734,637 1,229,111
351,853,766 54,120
13,709,644 Summarecon Bekasi
2,978,500 531,780,541 3,068,067 517,985,292
579,584 117,813,517
1,897,234 411,047,216 Summarecon Serpong
1,600,584 443,706,278 1,600,584 415,269,093
1,577,256 216,284,063
2,090,156 516,137,252 Others
2,443,507 311,178,762 572,109 176,501,326
243,708 157,630,570
386,052 162,320,114
Total undeveloped land 9,066,436 1,886,639,283
6,976,326 1,601,490,348 3,629,659
843,581,916 4,427,562 1,103,214,226
In 2012, undeveloped land located in Bali with acquisition cost of Rp3,701,938 was reclassified to investment properties due to change in management’s intention Note 13.
The status of ownership of undeveloped land is as follows:
December 31, June 30, 2013
2012 2011
2010 Status
Area sqm Area sqm
Area sqm Area sqm
Released rights “pelepasan hak” 6,394,470
4,399,275 2,180,736
3,014,094 Land certificates already issued
2,585,901 2,577,051
1,448,923 1,413,468
In the process of releasing rights “pelepasan hak” 86,065
- -
-
Total 9,066,436
6,976,326 3,629,659
4,427,562
As of June 30, 2013 and December 31, 2012, 2011 and 2010, some undeveloped land properties are pledged as collateral for loans from banks and bonds payable Notes 15 and 17, with detail of the
carrying value of the assets as follows:
December 31,
______________
June 30, 2013 2012
2011 2010
Location Area sqm
Amount Area sqm
Amount Area sqm
Amount Area sqm
Amount
Summarecon Bekasi PT Bank Mandiri
Persero Tbk Note 15
131,784 35,959,924
131,784 35,959,924
314,702 85,872,790
314,702 85,872,790
Bonds payable Note 17 -
- 76,450
20,860,925 76,450
20,860,925 76,450
20,860,925 Summarecon Serpong
PT Bank Central Asia Tbk Note 15
617,518 82,952,958
619,803 83,259,908
623,550 83,763,254
623,550 83,763,254
PT Bank Resona Perdania
Note 15 307,495
41,306,682 307,495
41,306,682 197,585
26,542,158 -
- PT Bank Mandiri
Persero 284,144
24,364,414 -
- -
- -
-
Total 1,340,941 184,583,978
1,135,532 181,387,439 1,212,287
217,039,127 1,014,702 190,496,969
No borrowing costs were capitalized to undeveloped land for the six-month period ended June 30, 2013 and years ended December 31, 2012, 2011 and 2010.
