LIABILITAS BERSYARAT CONTINGENCIES 73 financial statement 30 june 2014

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,