The Hongkong and Shanghai Banking Corporation

PT WIJAYA KARYA PERSERO, Tbk. PT WIJAYA KARYA PERSERO, Tbk. DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Untuk tahun-tahun yang berakhir tanggal 31 Desember 2011 dan 2010 For the years ended December 31, 2011 and 2010 Disajikan dalam ribuan Rupiah, kecuali dinyatakan lain Expressed in thousand Rupiah, unless otherwise stated 4. 4. 5. 5. 6. 6. a. a. b. b. c. c. d. d. e. e. - - Credit validity period up to June 14, 2012. Changing the constitution and shareholding structure The collateral for these agreements are as follows: Dalam perjanjian kredit terdapat negative convenants , yaitu perusahaan wajib memberitahukan secara tertulis kepada bank jika: Fasilitas berlaku sampai dengan 14 Juni 2012. Bank guarantee facility amounting to Rp20,000,000,000 full amount - revolving basis. Fasilitas Bank Garansi dengan jumlah sebesar Rp20.000.000.000 nilai penuh - revolving basis. APHT on HGB No.21, 25, 35, 39, 46, 59, 60 and 65 on behalf of PT Wika Realty located at Curug, Sawangan, Depok, West Java. Fiduciary on Debtor’s account, based Fidusiary Deed No.22 dated June 14, 2006. Akta Fidusia No.7 tanggal 7 Desember 2007 atas tagihan piutang milik PT Wika Realty kepada Pihak Ketiga. Fidusiary No.7 dated, December 7, 2007 on Trade Receivables PT Wika Realty to third parties. The loan agreement contained a negative covenants, which the company must notify the bank if: Merubah anggaran dasar dan susunan pemegang saham Agunan atas perjanjian tersebut adalah sebagai berikut: APHT atas HGB No.032, 033, 037, 038, 047 dan 048 atas nama PT Wika Realty di Curug, Sawangan, Depok Jawa Barat. APHT on HGB No.032, 033, 037, 038, 047 and 048 on behalf of PT Wika Realty located at Curug, Sawangan, Depok, West Java. APHT atas HGB No.21, 25, 35, 39, 46, 59, 60 dan 65 atas nama PT Wika Realty di Curug, Sawangan, Depok Jawa Barat. APHT atas HGB No.754 PT Wika Realty di Desa Gunung Samarinda, Balikpapan Utara, Kalimantan Timur. APHT on HGB No.754 on behalf of PT Wika Realty located at Gunung Samarinda, North Balikpapan, East Kalimantan. Fidusia atas Rekening Peminjam, berdasarkan Akta No.22 tanggal 14 Juni 2006. - - - - PT WIKA INTRADE PT WIKA INTRADE a. PT Bank CIMB Niaga, Tbk. a. PT Bank CIMB Niaga, Tbk. Pembagian dividen Dividend distribution 1. 2. Loan Facility Account PRK to a maximum of Rp5.000.000.000 full amount at an interest rate of 11 per annum. On September 13, 2011 the company has signed an Agreement Amendment and Restatement of Credit Agreement No.420AMDCBJKT2011 where the company have obtained a credit facility from PT Bank CIMB Niaga, Tbk. as follows: Facilities Bank Guarantee BG - Revolving Base - to a maximum of Rp.125.000.000.000 full amount with interest rate of 11.5 per annum. Membuat hutang baru ke Bank lain dan atau institusi keuangan lainnya. Create a new debt to another bank or other financial institutions. Pada tanggal 13 September 2011 perusahaan telah menandatangani Perjanjian Perubahan Dan Pernyataan Kembali Perjanjian Kredit No. 420AMDCBJKT2011 dimana perusahaaan telah mendapatkan fasilitas kredit dari PT Bank CIMB Niaga, Tbk. berupa: Fasilitas Bank Garansi BG - Revolving Basis - senilai maksimal Rp.125.000.000.000 nilai penuh dengan tingkat bunga sebesar 11.5 per tahun. 1. 2. Fasilitas Pinjaman Rekening Koran PRK senilai maksimal Rp.5.000.000.000 nilai penuh dengan tingkat bunga 11 per tahun. Masa berlaku perjanjian adalah sampai dengan 13 September 2012. 3. The validity period of the agreement until September 13, 2012. Perjanjian dijamin dengan aset perusahaan berupa tanah, bangunan, persediaan, mesin produksi dan piutang yang terkait dengan bisnis automotif. 4. The agreement is secured by company assets such as land, buildings, inventory, production machinery and receivables related to the automotive business. saham 3. 4. 99 PT WIJAYA KARYA PERSERO, Tbk. PT WIJAYA KARYA PERSERO, Tbk. DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Untuk tahun-tahun yang berakhir tanggal 31 Desember 2011 dan 2010 For the years ended December 31, 2011 and 2010 Disajikan dalam ribuan Rupiah, kecuali dinyatakan lain Expressed in thousand Rupiah, unless otherwise stated - - - - - - - - b. PT Bank Danamon Indonesia, Tbk. b. PT Bank Danamon Indonesia, Tbk. 1 1 Debitur harus memberi pemberitahuan secara tertulis kepada Bank apabila terdapat perubahan Anggaran Dasar Perusahaan, Susunan pemegang saham, susunan direksi dan membuat hutang baru ke bank lainnya. PT Wika Intrade memperoleh fasilitas kredit dari PT Bank Danamon Indonesia Tbk sesuai surat perjanjian kredit No.060PPWKOTFCBDIII2011 tanggal 18 Maret 2011 dengan ketentuan sebagai berikut: Uncommitted Omnibus Trade Finance Facility with a Appraisal atas aset-aset yang dijaminkan dilakukan sekurang-kurangnya 1 kali dalam setahun. Appraisal of assets pledged to do at least 1 times a year. PT Wika Intrade obtain credit facilities from PT Bank Danamon Indonesia Tbk according No.060PPWKOTFCBDIII 2011 letter of credit agreement dated March 18, 2011 with the following conditions: Fasilitas Uncommitted Omnibus Trade Finance Debtor are required to give notice in writing to the Bank if there are amendments to the Articles of Association, Structure of shareholders, directors and make new loans to banks other institution. Dalam perjanjian kredit dengan PT Bank CIMB Niaga, Tbk. terdapat negative covenant antara lain: Debtor shall maintain ownership of the shares of the Company in PT Wika Intrade at least 78.40 Menyerahkan Laporan Keuangan 3 bulanan Inhouse Figure, termasuk laporan persediaan, piutang dagang dan hutang dagang paling lambat 90 hari sejak tanggal laporan dan Laporan Keuangan Tahunan Audited paling lambat 180 hari sejak tanggal pelaporan. Submit a 3-month Financial Report Inhouse Figure, including inventory reports, accounts receivable and payable no later than 90 days from the date of the report and the Audited Annual Financial Report no later than 180 days from the date of reporting. In a loan agreement with PT Bank CIMB Niaga, Tbk. there are negative covenants, among others: Debitur harus menjaga kepemilikan saham Perseroan di PT Wika Intrade minimal 78,40 1. 1. 2. 2. 3. 3. 4 4 - - - - - - - - The validity period of the loan agreement March 22, 2011 until March 22, 2012. Dalam perjanjian kredit dengan PT Bank Danamon Indonesia, Tbk. terdapat negative covenant antara lain: In a loan agreement with PT Bank Danamon Indonesia, Tbk. there are negative covenants, among others: Uncommitted Omnibus Trade Finance Facility with a credit limit of Rp.100.000.000.000 full amount. Tingkat suku bunga sebesar 10 sampai dengan 11 per tahun. The interest rate charged is 10 up to 11 per annum. Masa berlaku perjanjian kredit 22 Maret 2011 sampai dengan 22 Maret 2012. Collateral for the agreement of sale and purchase contract. Fasilitas Uncommitted Omnibus Trade Finance dengan limit kredit sebesar Rp.100.000.000.000 nilai penuh Maximum Total Debt to Equity Ratio is 3 times. Debt Service Coverage Ratio DSCREBITDA minimum 2 dua kali. Minimum Debt Service Coverage Ratio DSCREBITDA is 2 times. Companies notify the Bank in case of mergers, sell or lease a number of assets with significant value, changes in statutes and wet nurse administrators as well as the ownership structure of company stock. Perusahaan memberitahukan kepada Bank jika terjadi merger, menjual atau menyewakan sejumlah asset dengan nilai signifikan, perubahan anggaran dasar dan susuan pengurus serta struktur kepemilikan saham perusahaan. Current Ratio minimum 1 satu kali . Minimum Current Ratio is 1 one time . Total Debt to Equity maksimum 3 tiga kali. Agunan atas perjanjian tersebut berupa kontrak jual beli. 100 PT WIJAYA KARYA PERSERO, Tbk. PT WIJAYA KARYA PERSERO, Tbk. DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Untuk tahun-tahun yang berakhir tanggal 31 Desember 2011 dan 2010 For the years ended December 31, 2011 and 2010 Disajikan dalam ribuan Rupiah, kecuali dinyatakan lain Expressed in thousand Rupiah, unless otherwise stated c. PT Bank DBS Indonesia c. PT Bank DBS Indonesia 1. 1. 2. 2. 3. 3. - - - - - - - - PT Wika Intrade memperoleh perpanjangan fasilitas kredit dari PT Bank DBS Indonesia sesuai surat perubahan ketiga atas perjanjian fasilitas perbankan No.516PFPA-DBSIXII2011 tanggal 7 Desember 2011 dengan ketentuan sebagai berikut: Minimum total Networth Rp.50.000.000.000 full amount Dalam perjanjian kredit dengan PT Bank DBS Indonesia terdapat negative covenant antara lain: In a loan agreement with PT DBS Bank Indonesia there are negative covenants, among others: Current Ratio minimum 1,2 kali. Minimum Current Ratio 1,2 times. Minimun EBITDA 3,5 times. Minimum total Networth Rp.50.000.000.000 nilai penuh Collateral for the agreement in the form of fiduciary on bills of certain contracts financed by the banks and guarantee deposits. PT Wika Intrade obtain amandment credit facilities from PT Bank DBS Indonesia ordered the third change of letter agreement banking facility No. 516PFPA- DBSIXII2011 dated December 7, 2011 with the following conditions: The facilities provided are non Cash Loan Facility for financing imports with a limit of Rp.50.000.000.000 full amount and USD500,000 full amount The validity period of the loan agreement up to May 17, 2012 Masa berlaku perjanjian kredit sampai dengan 17 Mei 2012 Agunan atas perjanjian tersebut berupa jaminan fidusia atas tagihan dari kontrak tertentu yang di biayai oleh bank dan jaminan deposito. Quick Ratio 0,7 kali. Quick Ratio 0,7 times. EBITDA minimum 3,5 kali. Fasilitas yang diberikan adalah Fasilitas Non Cash Loan untuk pembiayaan import dengan limit Rp.50.000.000.000 nilai penuh dan USD500.000 nilai penuh. d. PT Bank Tabungan Negara Persero, Tbk. d. PT Bank Tabungan Negara Persero, Tbk. 1. 1. 2. 2. 3. 3. 4. 4. - - - - - - Masa berlaku perjanjian kredit 14 Juni 2011 sampai dengan 14 Januari 2012. The validity period of the loan agreement June 14, 2011 until January 14, 2012. Cash Loan Facility for financing imports with a limit of Rp.10.000.000.000 full amount Menerbitkan saham baru dan menjual saham yang telah ada. Issuing new shares and sell shares of existing. In a loan agreement with PT Bank Tabungan Negara Persero Tbk there are negative covenants, that should agreed from the Bank among others: Mengajukan pailit, merger dan akuisisi. Filed for bankruptcy, mergers and acquisitions. Agunan atas perjanjian tersebut berupa cessie atas tagihan perusahaan. Collateral for the agreement is cessie of company receivables. Dalam perjanjian kredit dengan PT Bank Tabungan Negara Persero Tbk terdapat negative covenant yang harus mendapat persetujuan dari Bank antara lain: Tingkat suku bunga sebesar 12,75 per tahun The interest rate at 12,75 per annum Merubah anggaran dasar dan susunan pengurus, pembagian dividen serta mengikatkan diri sebagai penjamin dan atau meminjamkan harta perusahaan. Changing the constitution and composition of the board, dividend and binds itself as surety or a lending company property. PT Wika Intrade memperoleh fasilitas kredit dari PT Bank Tabungan Negara Persero, Tbk., sesuai surat perjanjian kredit No.206 tanggal 14 Juni 2011 dibuat dihadapan Notaris Joko Suryanto,SH dengan ketentuan sebagai berikut : PT Wika Intrade obtain credit facilities from PT Bank Tabungan Negara Persero, Tbk., according letter of credit agreement No.206 dated June 14, 2011 made before Notary Joko Suyanto. SH, with the following conditions : Fasilitas Non Cash Loan untuk pembiayaan import dengan limit Rp.10.000.000.000 nilai penuh 101