PT BAKRIE SUMATERA PLANTATIONS Tbk AND SUBSIDIARIES
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS
JUNE 30, 2014 AND DECEMBER 31, 2013 AND FOR THE SIX-MONTH PERIODS ENDED
JUNE 30, 2014 AND JUNE 30, 2013 UNAUDITED Amounts in tables are expressed in thousands of
Rupiah, unless otherwise stated
115
38. KEBIJAKAN DAN TUJUAN MANAJEMEN RISIKO KEUANGAN Lanjutan
38. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES Continued
Belum Jatuh Jatuh Tempo
Tempo ataupun dan Mengalami
Mengalami Penurunan
Penurunan Nilai Nilai
Neither Past Due 31-60 hari
61-90 hari 90 hari
Past Due and nor Impaired
31-60 days 61-90 days
90 days Impaired
TotalTotal
Kas Cash
selain kas 116.442.177
- -
- -
116.442.177 excluding cash on hand
Piutang usaha 17.377.238
3.903.462 5.595.665
127.631.118 378.012.195
532.519.678 Trade receivables
Piutang lain-lain 320.013.866
- -
- 401.912.217
721.926.083 Other receivables
Piutang pihak berelasi 2.551.997.300
- -
- 3.564.121
2.555.561.421 Due from related parties
Piutang plasma 168.655.413
- -
- -
168.655.413 Due from plasma
Investasi pada efek Investments in equity
ekuitas 302.535.339
- -
- 511.353
303.046.692 securities
Dana yang dibatasi penggunaannya
26.306.457 -
- -
- 26.306.457
Restricted funds
Total 3.503.327.790
3.903.462 5.595.665
127.631.118 783.999.886
4.424.457.921 Total
31 Desember 2013 December 31, 2013 Telah Jatuh Tempo tetapi Tidak Mengalami Penurunan Nilai
Past Due but Not Impaired
Risiko Pasar Market Risk
Risiko pasar adalah risiko yang terutama disebabkan karena perubahan tingkat suku bunga, harga komoditas
dan nilai tukar valuta asing. Market risk is the risk primarily due to changes in interest
rates, commodity prices and foreign currency exchange rates.
Risiko Tingkat Suku Bunga Interest Rate Risk
Eksposur Kelompok Usaha untuk risiko tingkat suku bunga timbul dari pinjaman jangka panjang dengan
tingkat suku bunga mengambang. Untuk mengelola risiko ini, Kelompok Usaha memonitor pergerakan tingkat
suku bunga pasar. The Group’s exposure to interest rate risk arises from
long-term loans with floating interest rates. To manage this risk, the Group monitors the market interest rate
movement.
Berdasarkan simulasi yang masuk akal, jika tingkat suku bunga pinjaman jangka panjang 50 basis poin lebih
tinggirendah, dengan semua variabel lainnya dianggap tidak mengalami perubahan, maka laba rugi sebelum
manfaat beban pajak untuk periode-periode yang berakhir 30 Juni 2014 dan 2013 masing-masing akan
lebih rendahlebih tinggi sebesar Rp548,10 miliar dan Rp525,71 miliar, terutama sebagai akibat dari beban
bunga yang lebih tinggirendah pada pinjaman jangka panjang dengan tingkat suku bunga mengambang.
Based on a sensible simulation, had the interest rates of long-term loans been 50 basis points higherlower, with
all other variables held constant, income loss before income tax benefit expense for the six-month periods
ended June 30, 2014 and 2013 would have been lowerhigher by Rp548.10 billion and Rp525.71 billion,
respectively, mainly as a result of higherlower interest charges on floating rate long-term loans.
Risiko Harga Komoditas Commodity Price Risk
Kelompok Usaha menghadapi risiko harga komoditas karena faktor-faktor tertentu, seperti cuaca, kebijakan
pemerintah, tingkat permintaan dan penawaran di pasar dan lingkungan ekonomi global. Eksposur tersebut
terutama timbul dari pembelian bahan baku dan penjualan produk Kelompok Usaha. Kelompok Usaha
mengelola risiko ini dengan mempertahankan strategi harga yang konsisten dengan kontrak dan mengelola
biaya produksi secara efisien untuk tetap pada tingkat di bawah harga jual.
The Group is exposed to commodity price risk due to certain factors, such as weather, government policies,
level of demand and supply in the market and the global economic environment. Such exposure mainly arises
from the Group’s purchase of raw materials and sale of products. The Group manages this risk by maintaining a
pricing strategy that is consistent with the contracts and efficiently managing production costs to keep it at a level
below the selling price.
PT BAKRIE SUMATERA PLANTATIONS Tbk AND SUBSIDIARIES
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS
JUNE 30, 2014 AND DECEMBER 31, 2013 AND FOR THE SIX-MONTH PERIODS ENDED
JUNE 30, 2014 AND JUNE 30, 2013 UNAUDITED Amounts in tables are expressed in thousands of
Rupiah, unless otherwise stated
116
38. KEBIJAKAN DAN TUJUAN MANAJEMEN RISIKO KEUANGAN Lanjutan
38. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES Continued
Risiko Valuta Asing Foreign Exchange Risk
Risiko valuta asing timbul karena Kelompok Usaha melakukan transaksi dalam suatu mata uang selain mata
uang fungsionalnya. Kebijakan Kelompok Usaha adalah, jika mungkin, untuk menyelesaikan liabilitas dalam mata
uang fungsionalnya dengan kas yang dihasilkan dari operasi sendiri dalam mata uang tersebut. Ketika
Kelompok Usaha memiliki liabilitas dalam suatu mata uang selain mata uang fungsionalnya dan tidak
memiliki cadangan mata uang yang cukup untuk menyelesaikannya, kas telah didalam mata uang yang
diinginkan, jika mungkin, ditransfer dari pihak berelasi lain.
Foreign exchange risk arises because the Group enters into transactions denominated in a currency other than
its functional currency. It is the Group policy, where possible, to settle liabilities denominated in its functional
currency with the cash generated from its own operations in that currency. Where the Group has liabilities
denominated in a currency other than its functional currency and have insufficient reserves of that currency
to settle them, cash already denominated in that currency will, where possible, be transferred from
elsewhere within the related parties.
Pada tanggal 30 Juni 2014 dan 31 Desember 2013, aset dan liabilitas moneter Kelompok Usaha dalam mata uang
asing adalah sebagai berikut: As of June 30, 2014 and December 31, 2013, the
Group’s monetary assets and liabilities in foreign currency are as follows:
Mata uang asing Angka
Setara penuhForeign
Rupiah currency
Equivalent in Full amount
Rupiah Aset
Assets
Kas USD
1.785.377 21.369.177
Cash
EUR 8.306
135.662 Piutang usaha
USD 8.214.517
98.319.554 Trade receivables
Total aset moneter dalam USD
9.999.894 119.688.731
Total monetary assets denominated mata uang asing
EUR 8.306
135.662 in foreign currencies
Liabilitas Liabilities
Utang usaha - Pihak ketiga USD
9.986.439 119.527.685
Trade payables - Third parties Utang pihak berelasi
USD 520.316
6.227.662 Due to
Beban masih harus dibayar USD
42.681.581 510.855.843
Accrued expenses Pinjaman jangka panjang
USD 760.363.278
9.100.788.074 Long-term bank loans
Total liabilitas moneter dalam Total monetary liabilities
mata uang asing USD
813.551.614 9.737.399.264
denominated in foreign currencies
Total Liabilitas Moneter dalam Total Monetary Liabilities Denominated
mata uang asing - Neto 9.617.574.871
in foreign currencies - Net 2014
30 Juni June 30,