PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Nine months ended September 30, 2005 and 2004 Expressed in rupiah, unless otherwise stated
17
3. CASH AND CASH EQUIVALENTS continued 2005
2004
PT Bank Central Asia Tbk. Rupiah
11,436,571,013 10,891,314,788
Euro EUR481,619 in 2005 and
EUR718,994 in 2004 5,981,441,130
8,125,766,063 U.S. dollar
US383,932 in 2005 and US1,884,439 in 2004
3,958,337,992 17,280,307,372
The Hongkong and Shanghai Banking Corporation Ltd., Jakarta Branch
Rupiah 13,721,694,992
5,670,775,584 PT Bank Lippo Tbk.
Rupiah 3,984,920,540
368,525,063 Others
Rupiah 2,419,367,113
1,763,264,220 U.S. dollar
US53,269 in 2005 and US52,713 in 2004
549,205,143 483,380,608
Other foreign currencies 49,723,420
118,181,417 Rupiah time deposits
ABN-AMRO Bank N.V. 140,000,000,000
210,000,000,000 Standard Chartered Bank
40,000,000,000 -
PT Bank Mandiri Persero Tbk. 12,500,000,000
79,500,000,000 PT Bank Central Asia Tbk.
3,000,000,000 3,000,000,000
U.S. dollar time deposits US21,304,000 in 2005 and US25,965,000 in 2004
ABN-AMRO Bank N.V. 219,644,240,000
238,099,050,000
Total 518,111,763,511
673,194,100,394
Interest rates per annum ranged from 5.00 to 14.00 in 2005 and from 4.75 to 7.93 in 2004 for the rupiah time deposits and ranged from 1.75 to 3.40 in 2005 and 1.20 in 2004 for the U.S. dollar
time deposits.
4. TRADE RECEIVABLES
The details of trade receivables are as follows:
2005 2004
Related Party see Note 21 Cement business
HCT Services Asia Pte., Ltd. formerly HC Trading International Inc., Singapore
US4,766,204 in 2005 and US3,031,712 in 2004
49,139,564,477 27,800,796,747
Third Parties Cement and ready mix concrete
business 556,652,991,232
397,159,117,615 Allowance for doubtful accounts
18,525,156,535 13,702,091,743
Net 538,127,834,697
383,457,025,872
PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Nine months ended September 30, 2005 and 2004 Expressed in rupiah, unless otherwise stated
18
4. TRADE RECEIVABLES continued
The movements of allowance for doubtful accounts are as follows:
2005 2004
Balance at beginning of period 13,822,091,743
13,332,091,743 Provision during the period
6,131,877,800 370,000,000
Receivables written off during the period 1,428,813,008
-
Balance at end of period 18,525,156,535
13,702,091,743
Based on the review of the status of the individual receivable accounts at the end of the year, management believes that the above allowance for doubtful accounts is sufficient to cover any possible
losses that may arise from uncollectible accounts.
Trade receivables are used as collateral for the long-term loans from banks and financial institutions see Note 11.
The aging of trade receivables based on their currency denominations as of September 30, 2005 and 2004 is as follows:
2005
Currency U.S. Dollar
Rupiah In Equivalent Rupiah
Total Current
490,952,341,013 42,604,327,042
533,556,668,055 Overdue:
1 - 30 days 24,463,778,529
6,535,237,435 30,999,015,964
31 - 60 days 7,017,758,934
- 7,017,758,934
61 - 90 days 4,105,728,119
- 4,105,728,119
Over 90 days 25,029,485,393
5,083,899,244 30,113,384,637
Total 551,569,091,988
54,223,463,721 605,792,555,709
2004
Currency U.S. Dollar
Rupiah In Equivalent Rupiah
Total Current
334,437,573,751 27,268,936,747
361,706,510,498 Overdue:
1 - 30 days 28,223,277,206
- 28,223,277,206
31 - 60 days 6,853,676,686
- 6,853,676,686
61 - 90 days 2,180,610,828
- 2,180,610,828
Over 90 days 20,380,079,900
5,615,759,244 25,995,839,144
Total 392,075,218,371
32,884,695,991 424,959,914,362
PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Nine months ended September 30, 2005 and 2004 Expressed in rupiah, unless otherwise stated
19
5. OTHER RECEIVABLES
