Acquisition of Rachmalta Investments Ltd by Rachpore Investments Pte Ltd

158 Adaro Energy Annual Report 2008 www.adaro.com Adaro in Summary From Us to You Running Adaro Management Report Owning Adaro PT ADARO ENERGY Tbk Schedule 526 FORMERLY PT PADANG KARUNIA AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 Expressed in million Rupiah, unless otherwise stated

4. RESTATEMENT OF CONSOLIDATED FINANCIAL STATEMENTS continued

The comparative consolidated financial statements as at 31 December 2007 that have been restated, are as follows: Before After restatement restatement Consolidated balance sheet Total assets 4,961,581 14,688,683 Total liabilities 2,547,203 11,979,726 Minority interest 138,714 558,403 Equity 2,275,664 2,150,554 Consolidated statement of income Operating income 243,596 2,252,519 Other expenses 199,172 1,305,494 Income tax benefitexpense 13,580 656,927 Pre-acquisition income - 38,048 Minority interest in net income of subsidiaries 659 163,516 Net income 57,345 88,534

5. CASH AND CASH EQUIVALENTS

2008 2007 Cash on hand: Rupiah 619 425 US Dollars 49 32 Singapore Dollars 15 - Hong Kong Dollars 4 - Total cash on hand 687 457 Cash in banks: Rupiah PT Bank DBS Indonesia 147,764 5,520 PT Bank Sumitomo Mitsui Indonesia 103,478 108,508 PT Bank Mandiri Persero Tbk 20,703 9,146 The Hongkong and Shanghai Banking Corporation Ltd 249 38,618 PT Bank OCBC NISP Tbk 4 3,408 Others each below Rp 3,000 6,151 3,259 Total Rupiah accounts 278,349 168,459 US Dollars Sumitomo Mitsui Banking Corporation 1,005,431 531,905 PT Bank DBS Indonesia 572,426 5,952 PT Bank Mega Tbk 17,183 6,897 The Hongkong and Shanghai Banking Corporation Ltd 5,716 24,096 Standard Chartered Bank 5,434 - PT Bank CIMB Niaga Tbk 1,983 6,085 PT Bank Mandiri Persero Tbk 1,581 6,006 PT Bank OCBC NISP Tbk - 6,076 Others each below Rp 3,000 1, 151 2,708 Total US Dollars accounts 1,610,905 589,725 Singapore Dollars The Hongkong and Shanghai Banking Corporation Ltd 1,218 - Total Singapore Dollars accounts 1,218 - Euro ING Bank 2,521 - MeesPierson Bank 2,059 5,071 Total Euro accounts 4,580 5,071 Total cash in banks 1,895,052 763,255 Adaro Energy Annual Report 2008 www.adaro.com 159 Contact Us Governing Adaro Financial Report Corporate Social Responsibility PT ADARO ENERGY Tbk Schedule 527 FORMERLY PT PADANG KARUNIA AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 Expressed in million Rupiah, unless otherwise stated

5. CASH AND CASH EQUIVALENTS continued

2008 2007 On call deposits: Rupiah PT Bank CIMB Niaga Tbk 46,000 - PT Bank DBS Indonesia 22,031 - PT Bank OCBC Indonesia 8,140 - PT Bank Mandiri Persero Tbk 664 - Total Rupiah on call deposits 76,835 - US Dollars PT Bank UOB Indonesia 168,723 - PT ANZ Panin Bank 151,222 - PT Bank OCBC Indonesia 98,582 - Sumitomo Mitsui Banking Corporation 24,638 - Total US Dollars on call deposits 443,165 - Total on call deposits 520,000 - Time deposits: Rupiah PT Bank DBS Indonesia - 7,000 PT Bank Mega Tbk - 3,502 Others each below Rp 3,000 - 1,002 Total Rupiah time deposits - 11,504 US Dollars PT Bank Mega Tbk 114 286 PT Bank DBS Indonesia - 36,716 PT Bank OCBC NISP Tbk - 14,128 PT Bank CIMB Niaga Tbk - 5,494 Total US Dollars time deposits 114 56,624 Total time deposits 114 68,128 Total cash and cash equivalents 2,415,853 831,840 The interest rates of the above on call and time deposits were as follow s: 2008 2007 Rupiah 6 - 10.8 4.3 - 6 US Dollars 0.3 - 4.3 3 - 4.5

6. RESTRICTED CASH AND CASH EQUIVALENTS

2008 2007 Time deposits: Rupiah PT Bank DBS Indonesia - 18,350 The Hongkong and Shanghai Banking Corporation Ltd - 4,355 Total Rupiah time deposits - 22,705 US Dollars The Hongkong and Shanghai Banking Corporation Ltd 6,594 7,445 PT Bank DBS Indonesia 4,442 42,658 Citibank, N.A. - 3,023 Total US Dollars time deposits 11,036 53,126 Total restricted cash and cash equivalents 11,036 75,831