Due to related parties
11 10
2014
3,281,062 691,151
496,079 112,545
289,849
4,870,686
,839,738
7,335,940 ,061,587
,391,411 ,598,125
,158,533 ,057,812
5,603,408 5,603,408
79,764,325 11,653,125
5,997,159 8,977,368
23,566,815 129,958,792
11 The outstanding balances of the loan as of 30 Juni 2014, 31 December 2013, 2012 and 2011 were USD
4,765,152, USD 6,446,970 and USD 9,810,606 and USD 13,174,242 respectively. And the outstanding balances of the loan in 30 September 2014 was USD 3,924,243.
Based on the credit agreement dated 10 December 2010, IEL obtained an additional credit facility in the form of Investment Credit 7 IC-7, with a maximum limit of Rp 37,861,000,000. The loan will be paid off on an installment
basis for a period of 60 months, with a monthly installment of Rp 631,016,667 up to 10 December 2015. The loan bears interest of 11.25 - 12.25 for 2014 2013: 10.25-11.25, 2012 and 2011: 10.25.
The loan outstanding balances as of 30 June 2014, 31 December 2013, 2012 and 2011 were Rp 11,358,300,000 USD 948,977, Rp 15,144,400,000 equivalent to USD 1,242,465, Rp 22,716,000,000 equivalent to USD
2,349,183 and Rp 30,288,800,000 equivalent to USD 3,340,185, respectively. And the outstanding balance of the loan in 30 September 2014 was Rp. 9.465.250.000 equivalent USD 775.078.
Based on the credit agreement dated 31 October 2013, IEL obtained a credit facility from BCA in the form of Installment Loan IL with a maximum facility of Rp 66,500,000,000. The loan will mature on 1 November 2017.
The loan bears interest of 12.25 per annum for 2014 2013: 11.25. The loan outstanding balances as of 30 June 2014 and 31 December 2013 were Rp 64,505,000,000 equivalent
to USD 5,389,339 and Rp 66,500,000,000 equivalent to USD 5,455,739, respectively. The loan outstanding balances in 30 September 2014 was Rp.64.505.000.000 equivalent USD 5.282.100.
All of IEL’s credit facilities obtained from BCA are ‖joint borrower‖ facilities with SOKL and AMO, and are secured by vessels owned by IEL, SOKL and AMO, a parcel of land owned by PT Tria Sumatra Corporation and personal
guarantees from Paulus Utomo and Go Darmadi. Based on the credit agreement with BAGI dated 1 April 2008, IEL obtained an additional credit facility, Time Loan
Revolving with a limit of Rp. 5,000,000,000. This facility will mature on 10 December 2014. The loan bears interest of 12.25 per annum for the period 2014 2013:11.25.
As of 30 June 2014, the loan outstanding balance was fully paid and IEL obtained a new loan. The loan outstanding balance as of 30 September 2014 was Rp. 5.000.000.000 equivalent USD 409.434
AMO Based on the credit agreement dated 21 December 2012, AMO obtained a credit facility in the form of Investment
Credit 9 KI-9, with a maximum facility of RP 42,000,000,000. This facility is used to finance 1 one tanker owned by AMO, with a credit term of 7 seven years, including a 6 six months grace period. The loan bears
interest of 12.25 per annum for the 2014 period 2013: 10.25-11.25 and shall be paid by the 10
th
day of each month, at the latest. The loan will mature on 10 January 2020.
KI-9 loan outstanding balances as of 30 June 2014 and 31 December 2013 were Rp 35,754,807,692 equivalent to USD 2,987,284 and Rp 38,956,730,769 equivalent to USD 3,190,056. KI-9 loan outstanding balances as of
30 September 2014 was Rp. 34.153.846.154 equivalent USD 2.796.745 The loan facility is a ‖joint borrower‖ facility with SOKL and IEL and is secured by vessels owned by ILE, SOKL
and AMO. The loan is also secured by personal guarantees from Paulus Utomo and Go Darmadi. PT Bank Internasional Indonesia Tbk BII
IEL Based on the credit agreement dated 20 May 2010, IEL obtained a credit facility in the form of Term Loan, with a
maximum limit of USD 7,000,000. The loan bears interest of 7 per annum and will mature on 20 May 2015. The loan is secured by escrow and operational accounts owned by IEL and SOKL, trade receivables owned by
IEL and SOKL. In addition, SOKL’s vessels are used as cross collateral with SOKL, personal guarantees from all shareholders of IEL and SOKL and a corporate guarantee from SOKL.
The loan balances as of 30 June 2014, 31 December 2013, 2012 and 2011 were USD 2,166,608, USD 2,931,787, USD 4,344,428 and USD 4,933,028, respectively. The loan balance as of 30 September 2014 was
USD 1.911.549.
12 12
PT Bank Mandiri Persero Tbk Mandiri SOKL
Based on the credit agreement dated 28 October 2009, SOKL obtained credit facilities from Mandiri, in the form of Non-revolving Investment Credit Facilities, with a maximum limit of Rp 30,000,000,000 and USD 8,000,000,
respectively. The loans will be paid in monthly installments in accordance with the installment schedule and will mature on 27 October 2014 for the Rupiah denominated facility and on 27 October 2012 for the US Dollar
denominated facility. The Rupiah denominated loan bears interest of 11 per annum for 2014 2013: 10.50-12.50, 2012 and 2011:
12.50. US Dollar denominated loan bore interest of 8 per annum and. was fully paid on 23 September 2012. The outstanding balances of the Rupiah denominated loan as of 30 June 2014, 31 December 2013, 2012 and
2011 were Rp 1,500,000,000 equivalent to USD 125,323, Rp 4,500,000,000 equivalent to USD 369,185, Rp 10,500,000,000 equivalent to USD 1,085,832 and Rp 16,500,000,000 equivalent to USD 1,819,587,
respectively. The outstanding balance of the US Dollar denominated loan as of 31 December 2011 was USD 2,100,000. The loan facility of the Rupiah was fully paid in 23 September 2014.
Based on the credit agreement dated 28 December 2009, SOKL obtained a credit facility from Mandiri in the form of Non-revolving Investment Credit, with a maximum facility of USD 44,200,000. The loan is used to purchase 1
one tanker and will be paid in installments for a period of 102 months up to 27 June 2018. The loan bears interest of 6.5 per annum for 2014 period 2013: 6.25-8.25, 2012 and 2011: 7. The loan outstanding
balances as of 30 June 2014, 31 December 2013, 2012 and 2011 were USD 23,428,000, USD 24,800,000, USD 31,800,000 and USD 38,400,000, respectively. The loan outstanding balance as of 30 September 2014 was USD
22.414.000. ABPL
Investment Credit 1 IC-1 IDR Based on the credit agreement dated 27 June 2011, ABPL obtained a credit facility from Mandiri in the form of
Non-revolving Investment Credit Facility, with a maximum facility of Rp 68,800,000,000. The facility is used to finance 2 two tankers owned by ABPL with a credit term of 6 six years. The loan bears interest of 11 per
annum for 2014 2013: 10-12.25, 2012 and 2011: 10. The loan will mature on 27 June 2017. Investment Credit 2 IC-2 Foreign Currency
Based on the credit agreement dated 18 January 2011, ABPL obtained a credit facility from Mandiri in the form of Non-Revolving Special Transaction Credit Facility, with a maximum facility of USD 10,000,000. The facility is
used to finance 3 three units of tanker owned by ABPL, with a credit term of 7 seven years, without any grace period. The facility bears interest of 6.5 per annum for 2014 2013: 6.25 - 9.25, 2012 and 2011: 6.5. The
loan will mature on 17 January 2018. The entire credit facility is secured by tankers financed by ABPL, fiduciary lien on vessel charter receivables for 1
month, personal guarantees from Paulus Utomo, Hartono Utomo, Go Darmadi and a corporate guarantee from SOKL.
The outstanding balances of KI1-IDR and KI2-Foreign Currency as of 30 June 2014 were Rp 36,000,000,000 equivalent to USD 3,007,770 and USD 5,375,000, respectively. The outstanding balances of KI1-IDR and KI2-
Foreign Currency as of 31 December 2013 were Rp 42,000,000,000 equivalent to USD 3,445,73 and USD 6,125,000, respectively. The outstanding balances of KI1-IDR and KI2-Foreign Currency as of 31 December
2012 were Rp 54,000,000,000 equivalent to USD 5,584,281 and USD 7,625,500, respectively. The outstanding balances of KI1-IDR and KI2-Foreign Currency as of 31 December 2011 were Rp 66,000,000,000 equivalent to
USD 7,278,341 and USD 9,100,000, respectively. The loan outstanding balance for KI1-IDR and KI2-Valas as of 30 September 2014 were Rp33.000.000.000 equivalent USD 2.702.260 dan USD 5.000.000 respectively.
PUL Investment Credit 1 IC-1
Based on the credit agreement dated 7 July 2011, PUL obtained a credit facility from Mandiri, in the form of Non- revolving Investment Credit facility, with a maximum limit of USD 18,900,000. This facility is used to finance two
tankers, with a credit term of 6 six years, including a 6 six months grace period. The facility bears interest of 6.5 per annum for the 2014 period 2013: 6.25 - 8.25, 2012 and 2011: 6.25. The facility will mature on 7
July 2017.
13 12
13 Investment Credit II IC-2
Based on the credit agreement dated 7 July 2011, PUL obtained a credit facility from Mandiri in the form of Non- revolving Investment Credit Facility, with a maximum limit of USD 11,100,000. This facility is used to finance 2
tankers, with a credit term of 6 six years, including a 6 six months grace period. This facility bears interest of 6.5 per annum for 2014 2013: 6.25-8.25, 2012 and 2011: 6.25. The facility will mature on 7 July 2017.
IC-I and IC-2 outstanding balances as of 30 June 2014 were USD 10,800,000 and USD 6,984,000, respectively. IC-1 and IC-2 outstanding balances as of 31 December 2013 were USD 12,600,000 and USD 8,148,000,
respectively. IC-1 and IC-2 outstanding balances as of 31 December 2012 were USD 16,200,000 and USD 10,240,000, respectively. IC-1 and IC-2 outstanding balances as of 31 December 2011 were USD 18,900,000
and USD 3,465,000, respectively. The loan outstanding balance for KI-1 and KI-2 in 30 September 2014 were USD9.900.000 and USD 6.402.000; respectively.
The entire facilities from Mandiri are secured by the following collateral: tankers financed by PUL, fiduciary lien on charter fee of the said vessel for one month, personal guarantees from all shareholders, corporate guarantees
from PT Sukses Oesan Khatulistiwa Line SOKL and PT Armada Bumi Pratiwi Lines ABPL. The facilities are also secured by tankers owned by SOKL as cross collateral. With regard to the planned sale of a vessel owned
by PUL, Bank Mandiri has approved the withdrawal of 1 one tanker from the collateral pledged for bank loan.
14 14
MOS Investment Credit IIC-1
Based on the credit agreement dated 9 February 2012, MOS obtained a credit facility from Mandiri, in the form of Non-revolving Investment Credit Facility, with a maximum limit of Rp 300,000,000,000. The facility is used to
finance the construction of shipyard facilities in Karimum, with a credit term of ninety 90 months, including a 24 twenty four months grace period. The facility bears an annual interest of 11 per annum for 2014 2013:
10,25-12,50, 2012: 10,75. The facility will mature on 8 August 2019. Investment Credit IIIC-2
Based on the credit agreement dated 9 February 2012, MOS obtained a credit facility from Mandiri, in the form of Non-revolving Investment Credit Facility, with a maximum limit of Rp 572,900,000,000. The facility is used to
finance the construction of shipyard facilities in Karimun, with a credit term of 90 ninety months, including a 24 twenty four months grace period. The facility bears an annual interest of 11 per annum for 2014 2013:
10,25-12,50, 2012: 10,75. The facility will mature on 8 August 2019. The agreement was amended in accordance with Letter No. CBC.JPMSPPK1682014 dated 1 April 2014,
amending the credit limit to Rp 175,000,000,000. IC-1 and IC-2 facilities are secured by the shipyard project as collateral, 2 two office buildings in Plaza Marein
under the name of SOKL, joint collateral with KI-3 facility obtained by SOKL, personal guarantees from all shareholders, and corporate guarantees from SOKL, ABPL and PUL.
The facilities will be paid in accordance with the payment schedule to be issued by Mandiri after the expiry of the grace period, i.e., 24 twenty four months after the execution of credit agreement.
KI-1 and KI-2 outstanding balances as of 30 June 2014 were Rp 294,000,000,000 equivalent to USD 24,563,456 and Rp 171,400,000,000 equivalent to USD 14,320,328, respectively. KI-1 and KI-2 outstanding
balances as of 31 December 2013 were Rp 300,000,000,000 equivalent to USD 24,612,355 and Rp 155,228,035,239 equivalent to USD 12,735,092, respectively. IC-1 and IC-2 outstanding balances as of 31
December 2012 were Rp 300,000,000,000 equivalent to USD 31,023,785 and Rp 73,113,504,235 equivalent to USD 7,560,859, respectively. The loan outstanding balances for KI-1 and KI-2 as of 30 September 2014 were
Rp289.500.000.000 equivalent USD23.706.191 and Rp168.700.000.000 equivalent USD13.814.281; respectively.
Investment Credit III IC-3 Based on the credit offering letter dated 1 April 2014, MOS obtained a credit facility in the form of Investment
Credit 3 IC-3, with a maximum facility of Rp 325,737,000,000. The facility bears an annual interest of 11 per annum and will mature on 8 August 2019.
The loan outstanding balance as of 30 June 2014 was Rp 111,102,239,672 equivalent to USD 9,282,500. The loan outstanding balance as of 30 September 2014, was Rp166.205.795.629 equivalent USD13.610.039
PT Bank Artha Graha Internasional Tbk BAGI SOKL
Based on the credit agreement dated 28 July 2010, SOKL obtained a credit facility in the form of Fixed Loan, with a maximum limit of USD 6,000,000. The facility bears an annual interest of 7.5-8 per annum for 2014 2013:
7.5, 2012 and 2001: 8 and will mature in July 2015. The loan outstanding balances as of 30 June 2014, 31 December 2013, 2012 and 2011 were USD 962,500, USD
1,306,250, USD 2,131,250 and USD 2,956,251, respectively. The loan outstanding balance as of 30 September 2014 was USD 893.750.
Based on the credit agreement dated 12 January 2011, SOKL obtained an additional credit facility in the form of Fixed Loan II Facility, with a maximum limit of USD 4,550,000. The facility is used to finance 1 one tanker, with
a credit term of 5 years. The facility bears interest of 7,5-8 per annum for the 2014 period 2013: 7.5, 2012 and 2011: 8 and will mature on 12 January 2016.
The loan outstanding balances as of 30 June 2014, 31 December 2013, 2012 and 2011 were USD 1,499,802, USD 1,995,614, USD 2,953,508 and USD 3,911,403, respectively. The loan outstanding balance as of 30
September 2014 was USD 1.436.843.
15 14
15 Based on the credit agreement dated 21 November 2011, SOKL obtained an additional credit facility in the form
of Fixed Loan III, with a maximum limit of USD 2,000,000. The facility is used as additional working capital, with a credit term of 4 years. The loan bears interest of 7.5-8 per annum for 2014 2013: 7.5, 2012 and 2011: 8
and will mature on 21 November 2015. The loan outstanding balances as of 30 June 2014, 31 December 2013, 2012 and 2011 were USD 1,000,000,
USD 1,277,778, USD 1,944,445 and USD 2,000,000. The loan outstanding balance as of 30 September 2014 was USD 944.445.
Based on the credit agreement dated 19 September 2012, SOKL obtained an additional credit facility in the form of Fixed Loan IV, with a maximum limit of USD 4,373,600. This facility is used as additional working capital, with
a credit term of 5 years, including a 6 months grace period commencing on 19 September 2012. The loan bears interest of 7.5-8 per annum for 2014 2013: 7.5, 2012 and 2011: 8 and will mature on 19 September
2017. The loan outstanding balances as of 30 June 2014, 31 December 2013 and 2012 were USD 3,239,701, USD
3,644,665 and USD 4,373,600, respectively. The loan outstanding balance as of 30 September 2014 was USD 3.138.804.
Based on the credit agreement dated 11 April 2013, SOKL obtained an additional credit facility in the form of Fixed Loan V Facility, with a maximum limit of Rp 74,690,000,000. This facility is used as additional working
capital, with a credit term of 6 years, including a 6 months grace period commencing on 15 April 2013. The facility bears interest of 14.5-15.25 per annum for 2014 2013: 12-14 and will mature on 15 April 2019.
The loan outstanding balances as of 30 June 2014 and 31 December 2013 were Rp 44,946,666,664 equivalent to USD 3,755,257 and Rp 51,736,666,666 equivalent to USD 4,244,537, respectively. The loan outstanding
balance as of 30 September 2014 was USD 42.683.333.330. equivalent USD3.495.196. The entire credit facilities from BAG are secured by several vessels owned by SOKL, IEL, PUL and AMO and
personal guarantees from all shareholders. PT Bank OCBC NISP Tbk OCBC and Oversea-Chinese Banking Corporation Limited, Singapore OCBC
Ltd. SOKL
Based on the credit agreement dated 7 October 2011, SOKL obtained credit facilities in the form of Term Loan TL, consisting of TL-1, TL-2 and TL-3, with a maximum limit of USD 1,500,000, USD 1,500,000 and USD
2,000,000, respectively. The credit terms for the facilities are 4 years and may be extended to 5 years based at OCBC’s discretion.
TL-1 credit facility is used for the refinancing of credit facilities obtained from PT Bank International Indonesia Tbk, TL-2 credit facility is used to meet chemical tankers operational requirements and TL-3 is used as a loan to
an affiliated company, which shall be used to purchase 1 one chemical tanker. TL-1, TL-2 and TL-3 facilities are subject to floating interest rate of 5.75-6 per annum for 2014 2013: 5.75-6, 2012 and 2011: 5.75.
SOKL utilized TL-3 facility on 7 September 2012. TL-1, TL-2 and TL-3 outstanding balances as of 30 June 2014 were USD 546,919, USD 606,250 and USD
1,016,667, respectively. TL-1, TL-2 and TL-3 outstanding balances as of 31 December 2013 were USD 716,069, USD 793,750 and USD 1,266,667, respectively. TL-1, TL-2 and TL-3 outstanding balances as of 31 December
2012 were USD 1,054,370, USD 1,168,750 and USD 1,828,5571, respectively. TL-1 and TL-2 outstanding balances as of 31 December 2011 were USD 1,330,648 and USD 1,475,000, respectively. In 30 September
2014, the outstanding balance for TL-1, TL-2 and TL-3 were USD462.342, USD512.500 and USD891.667; respectively.
Loans from OCBC are secured by vessels owned by SOKL and personal guarantees from Paulus Utomo and Go Darmadi.
On 31 October 2013, SOKL entered into a credit agreement with OCBC and OCBC Ltd., granting a Term Loan credit facility, with a maximum limit of USD 25,200,000 USD 7,560,000 from OCBC and USD 17,640,000 from
OCBC Ltd. These facilities are used to purchase 1 one tanker, with a credit term of 5 years, including a 4 months grace period commencing on 31 October 2013. In 2013, the facilities are subject to an interest rate
equals to LIBOR + 5,738 per annum from OCBC and an interest rate equals to Cost of Fund + 3,73 per annum from OCBC Ltd. The loans will mature on 31 October 2018.
The loan outstanding balances as of 30 June 2014 and 31 December were USD 24,464,000 USD 7,339,200 from OCBC and USD 17,124,800 from OCBC Ltd. and USD 25,200,000 USD 7,560,000 from OCBC and USD
16 16
17,640,000 from OCBC Ltd., respectively. The loan outstanding balance as of 30 September 2014 was USD23.588.000 USD7.076.400 from OCBC and USD16.511.600 from OCBC
Ltd. The loans from OCBC and OCBC Ltd are secured by first degree lien on 1 one tanker financed by the loan,
personal guarantees from Paulus Utomo and Go Darmadi, a corporate guarantee from the Company, insurance of the said tanker, all revenue, contracts, charter income, charter agreement and other cash flows from the said
tanker and restricted cash under an Escrow Account in OCBC. OCBC Ltd., Singapore
SIM In 2012, SIM obtained a Term Loan credit facility Term Loan I from OCBC Ltd. The loan will expire in 48
months, commencing on September 2012 and is subject to an interest rate equals to Cost of Fund + 4 per annum.
In 2013, SIM obtained a Term Loan credit facility Term Loan II from OCBC Ltd. The loan will expire in 57 months, commencing on February 2013 and is subject to an interest rate equals to Cost of Fund + 4 per
annum. In 2013, SIM obtained an Investment Credit facility Term Loan III from OCBC Ltd. The loan will expire in 43
months, commencing on May 2013. The loan is subject to an interest rate equals to Cost of Fund + 4 per annum. The loan will mature on 7 April 2017.
Term Loan I outstanding balances as of 30 June 2014, 31 December 2013 and 2012 were USD 4,961,250, USD 5,433,750 and USD 6,234,375, respectively. The loan outstanding balance for Term Loan I in 30 September
2014 was USD4.725.000.Term Loan II outstanding balances as of 30 June 2014 and 31 December 2013 were USD 5,250,000 and USD 5,730,000. The loan outstanding balance for Term Loan II in 30 September 2014 was
USD5.010.000. Term Loan III outstanding balances as of 30 June 2014 and 31 December 2013 were USD 5,040,000 and USD 5,880,000. The loan outstanding balance for Term Loan III in 30 September 2014 was USD
4.620.000. The entire credit facilities from OCBC Ltd. referred to above are secured by several vessels owned by AMO, SML
and Success Marlina XXXIII S.A., personal guarantees from Paulus Utomo and Go Darmadi and a corporate guarantee from SOKL.