CASH AND CASH EQUIVALENTS
7. TRADE RECEIVABLES continued
The aging analysis of trade receivables is as follows: 2009 2008 Current and overdue by 1 - 30 days 2,705,963 2,283,369 Overdue by 31 - 60 days 25,380 9,010 Overdue by 61 - 90 days 85,503 2,096 Overdue by more than 90 days 65,613 37,411 2,882,459 2,331,886 Details of trade receivables based on currencies are as follows: 2009 2008 US Dollars 2,090,029 629,361 Rupiah 792,430 1,702,525 2,882,459 2,331,886 As at 31 December 2009, the trade receivables of SIS amounting to Rp 566,445 including receivables from Adaro amounting to Rp 96,477 that had been eliminated were pledged as collateral for a Senior Credit Facility refer to Note 21b. As at 31 December 2009, the trade receivables of SDM amounting to Rp 21,721 were pledged as collateral for a loan from PT Bank OCBC NISP Tbk refer to Note 21c. Based on a review of the status of the individual receivable accounts at the end of the period, the Group’s management is of the opinion that these receivables will be collected in full, and therefore an allowance for doubtful accounts is not considered necessary.8. ADVANCES AND PREPAYMENTS
2009 2008 Advances to suppliers 213,126 277,477 Advances for purchase of fuel 105,567 253,379 Prepaid rent and insurance 24,341 19,629 Others` 32,312 17,023 375,346 567,508 Advances to suppliers mostly represent advance payments for construction of the coal fired power plant and steam turbine generators.9. INVENTORIES
2009 2008 Coal inventory 76,520 54,979 Tools and supplies 71,007 53,578 Spare parts 63,803 168,520 Fuel and lubricants 39,120 27,593 250,450 304,670 The Group’s management is of the opinion that the inventories can be either used or sold, and therefore a provision for obsolete stock is not considered necessary. As at 31 December 2009, Adaro’s coal inventories were covered by insurance against the risk of material damage with tota l coverage of Rp 75,200 US8 million. Inventories owned by IBT amounting to Rp 27,656 were covered by insurance against risk of loss and damage, which was included in the insurance for IBT’s fixed assets. Inventories other than those of Adaro’s coal and IBT’s inventories were not insured. The Group’s management is of the opinion that inventories are adequately insured for cover the risk of loss and damage. Adaro Energy Annual Report 2009 167 www.adaro.com PT ADARO ENERGY Tbk AND SUBSIDIARIES Schedule 529 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2009 AND 2008 Expressed in million Rupiah, unless otherwise stated10. DEFERRED EXPLORATION AND DEVELOPMENT EXPENDITURE 2009
2008 Acquisition costs Deferred exploration and development expenditure relating to the commercially producing areas South Paringin, North Paringin and Tutupan Carrying amount - beginning balance 349,365 300,518 Exchange difference due to financial statement translation 49,453 48,847 299,912 349,365 Deferred exploration and evaluation expenditure incurred for an area of interest which as at balance sheet date has not reached the commercial production stage Wara Carrying amount - beginning balance 52,509 45,167 Exchange difference due to financial statement translation 7,433 7,342 45,076 52,509 344,988 401,874 Accumulated amortisation Deferred exploration and development expenditure relating to commercially producing areas South Paringin, North Paringin and Tutupan Carrying amount - beginning balance 304,223 258,857 Amortisation 3,118 2,908 Exchange difference due to financial statement translation 43,363 42,458 263,978 304,223 81,010 97,651 11. DEFERRED FINANCING COSTS 2009 2008 Acquisition costs Carrying amount - beginning balance 211,962 79,645 Addition 106,961 105,408 Acquisition - 23,155 Exchange difference due to financial statement translation 4,921 15,661 Reversal of fully amortised balance 38,647 11,907 285,197 211,962 Accumulated amortisation Carrying amount - beginning balance 31,427 3,648 Amortisation 79,025 36,863 Exchange difference due to financial statement translation 21,487 2,823 Reversal of fully amortised balance 38,647 11,907 Total accumulated amortisation 93,292 31,427 191,905 180,535 Less: Current portion 51,195 36,243 Non-current portion 140,710 144,292 Deferred financing costs represent consultancy costs, bank charges, finance charges, professional fees and other costs that were incurred to obtain long-term borrowing.Parts
» Adaro Energy 2009 Annual Report English
» Quick Ratio Adaro Energy 2009 Annual Report English
» 13.6 9.4 5.5 1.4 38.5 34.4 24.3 20.8 Adaro Energy 2009 Annual Report English
» Transportation Mt Adaro Energy 2009 Annual Report English
» 23.7 Adaro Energy 2009 Annual Report English
» 9.0 -9.4 7.6 -48 -22 Adaro Energy 2009 Annual Report English
» -57 -58 Adaro Energy 2009 Annual Report English
» 5 1 Adaro Energy 2009 Annual Report English
» Financial structure Adaro Energy 2009 Annual Report English
» International TOTAL Adaro Energy 2009 Annual Report English
» The Development of High Yield Rubber Plantations Micro Financing Institute
» Institute for Educational Potential Development of Adaro Partners LP3AP
» GENERAL continued Establishment of the Company and other information
» GENERAL continued Subsidiaries continued
» Scholarships Establishment of the Company and other information continued Subsidiaries continued
» GENERAL continued Coal Cooperation Agreement
» Cooperation Agreement Adaro Energy 2009 Annual Report English
» Barito Channel Cooperation Agreement
» Coal reserves Adaro Energy 2009 Annual Report English
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
» Basis of preparation of the consolidated financial statements
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Principles of consolidation continued
» Foreign currency translation Adaro Energy 2009 Annual Report English
» Receivables Adaro Energy 2009 Annual Report English
» Inventories Adaro Energy 2009 Annual Report English
» Investments in debt and equity securities continued
» Impairment of investment in equity and debt securities
» Fixed assets and depreciation continued
» Impairment of long-lived assets
» Deferred exploration and development expenditure continued
» Leases Adaro Energy 2009 Annual Report English
» Environmental obligations continued Adaro Energy 2009 Annual Report English
» Stripping costs Adaro Energy 2009 Annual Report English
» Deferred financing costs Adaro Energy 2009 Annual Report English
» Deferred expenses Adaro Energy 2009 Annual Report English
» Provision for employee benefits continued
» Taxation Adaro Energy 2009 Annual Report English
» Derivative financial instruments and hedging activities
» Earnings per share Adaro Energy 2009 Annual Report English
» Segment reporting continued Adaro Energy 2009 Annual Report English
» Dividends Adaro Energy 2009 Annual Report English
» ACQUISITIONS, DISPOSALS, AND LIQUIDATION OF SUBSIDIARIES
» ACQUISITIONS, DISPOSALS, AND LIQUIDATION OF SUBSIDIARIES continued
» Acquisition of PT Alam Tri Abadi
» Acquisition of Rachmalta Investments Ltd by Rachpore Investments Pte Ltd continued
» Acquisition of Coronado Holdings Pte Ltd and Orchard Maritime Logistics Pte Ltd
» RESTRICTED CASH AND CASH EQUIVALENTS
» INVENTORIES Liquidation Adaro Finance B.V., MEC Indo Coal B.V. and Arindo Global Netherland B.V.
» DEFERRED EXPLORATION AND DEVELOPMENT EXPENDITURE 2009
» FIXED ASSETS continued Construction in progress continued MINING PROPERTIES 2009
» GOODWILL 2009 Liquidation Adaro Finance B.V., MEC Indo Coal B.V. and Arindo Global Netherland B.V.
» SHORT-TERM BANK LOANS continued Syndicated Short-term Loan
» LONG-TERM BANK LOANS continued b.
» SENIOR NOTES 2009 PT Bank OCBC NISP Tbk
» DERIVATIVE INSTRUMENT PT Bank OCBC NISP Tbk
» DERIVATIVE INSTRUMENT continued b.
» ACCRUED STRIPPING COSTS 2009 MINORITY INTEREST a.
» MINORITY INTEREST continued a.
» SHARE CAPITAL ADDITIONAL PAID-IN CAPITAL 2009
» DIFFERENCE IN VALUE FROM RESTRUCTURING TRANSACTIONS OF ENTITIES UNDER COMMON CONTROL continued
» DIVIDENDS Minority interest in net incomeloss of subsidiaries
» APPROPRIATED RETAINED EARNINGS Minority interest in net incomeloss of subsidiaries
» REVENUE 2009 Minority interest in net incomeloss of subsidiaries
» COST OF REVENUE 2009 OPERATING EXPENSES a.
» OPERATING EXPENSES continued b.
» TAXATION a. Minority interest in net incomeloss of subsidiaries
» TAXATION continued b. Recoverable taxes
» TAXATION continued d. Income tax expense
» TAXATION continued e. Deferred tax assets
» Taxes payable Deferred tax liabilities
» Administration Adaro Energy 2009 Annual Report English
» TAXATION continued i. Tax assessment letter
» TRANSACTIONS AND BALANCES WITH RELATED PARTIES
» Other receivables - related party
» TRANSACTIONS AND BALANCES WITH RELATED PARTIES continued d.
» Trade payables to related parties Cost of revenue
» BASIC EARNINGS PER SHARE 2009
» MONETARY ASSETS AND LIABILITIES SEGMENT REPORTING
» SEGMENT REPORTING continued The nature of relationships with related parties
» SEGMENT REPORTING continued 2008 The nature of relationships with related parties
» SIGNIFICANT AGREEMENTS, COMMITMENTS AND CONTINGENCIES continued a.
» Interest expense Land-Use Cooperation Agreement
» SIGNIFICANT AGREEMENTS, COMMITMENTS AND CONTINGENCIES continued c.
» Royalty claim Adaro Energy 2009 Annual Report English
» Capital expenditures Adaro Energy 2009 Annual Report English
» Banking facility Adaro Energy 2009 Annual Report English
» SIGNIFICANT AGREEMENTS, COMMITMENTS AND CONTINGENCIES continued h.
» Engineering, Procurement and Construction Agreement
» Agency fees Adaro Energy 2009 Annual Report English
» Customer Claims Adaro Energy 2009 Annual Report English
» Legal proceedings Adaro Energy 2009 Annual Report English
» SIGNIFICANT AGREEMENTS, COMMITMENTS AND CONTINGENCIES continued n.
» Amortising Revolving Credit Facility
» Overland Conveyor Construction Contract
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