SUMMARY OF SIGNIFICANT ACCOUNTING POLICES

The original financial statements included herein are in the Indonesian language PT MNC LAND Tbk DAN ENTITAS ANAK DH PT GLOBAL LAND DEVELOPMENT TBK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Untuk Tahun Yang Berakhir Pada Tanggal-Tanggal 31 Desember 2012 dan 2011 Dinyatakan dalam Rupiah, kecuali dinyatakan lain PT MNC LAND Tbk AND SUBSIDIARIES FORMERLY PT GLOBAL LAND DEVELOPMENT TBK NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Years Ended December 31, 2012 and 2011 Expressed in Rupiah, unless otherwise stated 36

6. PIUTANG USAHA

lanjutan 6. TRADE RECEIVABLES continued 2012 2011 Berdasarkan Umur By Age Category 1 sd 30 hari 27.947.296.722 7.913.806.991 1 to 30 days 31 sd 60 hari 8.875.911.790 2.514.860.596 31 to 60 days 61 sd 90 hari 2.847.554.496 755.635.838 61 to 90 days Lebih dari 90 hari 18.080.438.642 14.270.357.168 More than 90 days Jumlah 57.751.201.650 25.454.660.593 Total Seluruh piutang usaha dalam mata uang Rupiah. Piutang usaha digunakan sebagai jaminan Liabilitas anjak piutang, utang bank dan obligasi konversi Catatan 21 dan 22. All trade receivables are denominated in Rupiah. Trade receivables were used as collateral for factoring liabilities, bank loans and convertible bonds Notes 21 and 22. 7. PIUTANG LAIN-LAIN – BERSIH 7. OTHER RECEIVABLES – NET 2012 2011 Pihak berelasi Related parties PT Mediacitra Indostar 5.500.000.000 - PT Mediacitra Indostar PT MNC Asuransi Indonesia 326.241.900 - PT MNC Asuransi Indonesia PT MNC Life Assurance 127.318.200 - PT MNC Life Assurance PT MNC Finance 71.562.400 - PT MNC Finance PT MNC Kapital Indonesia Tbk PT MNC Kapital Indonesia Tbk dh PT Bhakti Capital Indonesia Tbk 60.542.100 - . dh PT Bhakti Capital Indonesia Tbk Sub jumlah 6.085.664.600 - Sub total Pihak ketiga Third parties Wesel tagih - 73.192.214.875 Note receivable Penyisihan penurunan nilai - 857.618.440 Allowance for impairment Nilai wajar - 72.334.596.435 Fair value Lain-lain 2.392.748.907 31.665.489.047 Others Jumlah Piutang Lain 8.478.413.507 104.000.085.482 Total Other Trade Receivables Pada tahun 2011 akun piutang lain-lain terutama merupakan wesel tagih Perusahaan pada Nucleus Capital Venture Ltd., sampai dengan 31 Desember 2012 telah dilakukan pencairan atas wesel tagih ini untuk penambahan investasi atas bagian kepemilikan Perusahaan asosiasi PLIN sebesar Rp 36.1 miliar sedangkan sisanya untuk pembelian dan pembangunan gedung. In 2011 the accounts of other receivables is primarily corporate notes receivable at Nucleus Venture Capital Ltd., Up to December 31, 2012 have been made disbursements on note receivable for the additional investment over the ownership of an associated company amounting to Rp 36,1 billion skirting the remainder to purchase and construction of buildings. Perusahaan membentuk penyisihan penurunan nilai pada tahun 2011 sebesar Rp 857.618.440. Companys allowance for decline in value in 2011 amounted to Rp 857,618,440. 8. PERSEDIAAN 8. INVENTORIES Berdasarkan penelaahan terhadap kondisi fisik dan perputaran persediaan pada akhir tahun, manajemen Perusahaan berpendapat bahwa tidak terdapat persediaan usang, dan oleh karena itu tidak di bentuk penyisihan persediaan usang. Seluruh persediaan milik NGI tidak diasuransikan. Based on the review of the status of individual inventory items at the end of the year, the NGI’s management believes taht all outstanding can be utilized in the normal course of business and thus, no allowance for obsolescence and decline in value of inventories was provided. All inventories are not covered with insurance. 2011 Minuman 1.499.501.467 Beverage Persediaan umum 86.509.699 General supplies Jumlah 1.586.011.166 Total The original financial statements included herein are in the Indonesian language PT MNC LAND Tbk DAN ENTITAS ANAK DH PT GLOBAL LAND DEVELOPMENT TBK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Untuk Tahun Yang Berakhir Pada Tanggal-Tanggal 31 Desember 2012 dan 2011 Dinyatakan dalam Rupiah, kecuali dinyatakan lain PT MNC LAND Tbk AND SUBSIDIARIES FORMERLY PT GLOBAL LAND DEVELOPMENT TBK NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Years Ended December 31, 2012 and 2011 Expressed in Rupiah, unless otherwise stated 37 9. PAJAK DIBAYAR DI MUKA 9. PREPAID TAXES Pajak dibayar di muka terdiri dari: Prepaid taxes consists of: 2012 2011 Pajak penghasilan Income taxes Pasal 23 121.114.423 134.922.556 Article 23 Pasal 25 304.077.952 38.653.896 Article 25 Final 1.764.922.700 - Final Pajak Pertambahan Nilai 14.314.747.834 4.860.484.770 Value Added Tax Jumlah 16.504.862.909 5.034.061.222 Total 10. UANG MUKA DAN BIAYA DIBAYAR DI MUKA 10. ADVANCES AND PREPAID EXPENSES Akun ini terdiri dari: This account consists of: 2012 2011 Uang muka 24.611.152.529 14.442.973.328 Advances Asuransi 1.176.251.805 1.075.053.828 Insurance Lain-lain 300.611.923 36.660.000 Others Jumlah 26.088.016.257 15.554.687.156 Total 11. INVESTASI SAHAM PADA ENTITAS ASOSIASI 11. INVESTMENTS IN ASSOCIATES Investasi saham Investments in shares of stock Akun ini merupakan investasi saham pada Perusahaan sebagai berikut: This account represents investment in the following companies: Persentase Tempat Kepemilikan Perusahaan investee kedudukan Percentage Jenis usaha Name of Investee Domicile of Ownership Principal activity 2012 2011 Metode ekuitas Equity method PT Nusadua Graha International Bali 36,76 diin 2012 Hotel dan Konvensi - 64.954.950.931 danand 2011 Hotel and Convention 1991 PT Plaza Indonesia Realty Tbk Jakarta 25,32 diin 2012 Properti, Shopping Mall 1.097.585.375.153 1.082.248.632.137 danand 24,65 2011 Hotel, Apartemen Property, Shopping Mall, Apartement 1968 PT Aston Inti Makmur Jakarta 50,00 diin 2012 Properti Property 96.888.205.353 97.734.836.903 danand 2011 2008 1.194.473.580.506 1.244.938.419.971 PT Nusadua Graha International menjadi entitas asosiasi hanya sampai dengan tahun 2011 PT Nusadua Graha International became an associate only to 2011.