SIGNIFICANT ACCOUNTING JUDGEMENTS, ESTIMATES AND ASSUMPTIONS continued

the Indonesian language. PT CITRA TUBINDO Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2014 dan untuk Tahun yang Berakhir pada Tanggal Tersebut Disajikan dalam Dolar AS, kecuali dinyatakan lain PT CITRA TUBINDO Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2014 and for the Year then Ended Expressed in U.S. Dollars, unless otherwise stated 42 5. PIUTANG USAHA lanjutan 5. TRADE RECEIVABLES continued Berdasarkan analisa umur piutang, komposisi piutang usaha adalah sebagai berikut: Based on the analysis of the aging of the receivables, the composition of trade receivables is as follows: 31 Desember December 31 2014 2013 Kurang dari 31 hari 42.059.171 44.788.310 Less than 31 days 31 - 90 hari 10.303.462 3.362.603 31 - 90 days 91 - 180 hari 345.968 1.287.370 91 - 180 days 181 - 360 hari 1.047.295 928.297 181 - 360 days Lebih dari 360 hari 10.191.224 9.877.328 More than 360 days Jumlah 63.947.120 60.243.908 Total Dikurangi penyisihan atas kerugian Less allowance for impairment losses penurunan nilai piutang usaha 8.864.629 8.851.187 on trade receivables Neto 55.082.491 51.392.721 Net Mutasi penyisihan kerugian penurunan nilai atas piutang usaha pihak ketiga dan pihak berelasi adalah sebagai berikut: The changes in the allowance for impairment losses on trade receivables third parties and related parties are as follows: 31 Desember December 31 2014 2013 Saldo awal 8.851.187 9.046.229 Beginning balance Perubahan selama tahun berjalan Changes during the year Penambahan penyisihan 15.694 59.122 Additional provision Penghapusan piutang - 45.569 Write-off Pembalikan 600 196.618 Reversal Selisih nilai tukar 1.652 11.977 Foreign exchange difference Saldo akhir 8.864.629 8.851.187 Ending balance Penyisihan kerugian penurunan nilai dilakukan untuk menutup kemungkinan kerugian adanya piutang yang tidak tertagih. The allowance for impairment losses is provided to cover the possible losses from uncollectible accounts. Berdasarkan hasil penelaahan kolektibilitas akun piutang pelanggan tertentu pada akhir tahun dan evaluasi kolektif atas kemungkinan penurunan nilai piutang, manajemen Grup berpendapat bahwa penyisihan penurunan nilai piutang usaha cukup untuk menutup kemungkinan kerugian atas tidak tertagihnya piutang usaha. Based on a review of the collectibility of specific trade receivable accounts at end of the year and collective assessment of the possible impairment of trade receivables, the Group’s management is of the opinion that the allowance for impairment losses is adequate to cover possible losses from the non- collection of the accounts. Piutang usaha CPPI, Entitas Anak melalui SC, senilai Sin1.875.000 pada tanggal 31 Desember 2014 dijaminkan sehubungan dengan fasilitas pinjaman bank jangka panjang dari PT Bank CIMB Niaga Tbk Catatan 27. Trade receivables of CPPI, a Subsidiary through SC, amounting to Sin1,875,000 as of December 31, 2014 are used as collateral for the long-term loan facility obtained from PT Bank CIMB Niaga Tbk Note 27. the Indonesian language. PT CITRA TUBINDO Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2014 dan untuk Tahun yang Berakhir pada Tanggal Tersebut Disajikan dalam Dolar AS, kecuali dinyatakan lain PT CITRA TUBINDO Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2014 and for the Year then Ended Expressed in U.S. Dollars, unless otherwise stated 43

6. TRANSAKSI DAN SALDO DENGAN PIHAK- PIHAK BERELASI

6. TRANSACTIONS AND ACCOUNTS WITH

RELATED PARTIES Dalam kegiatan usaha normal, Grup melakukan transaksi dengan pihak-pihak berelasi, terutama yang berhubungan dengan pembelian bahan baku dan bahan pembantu, subkontrak, royalti, uang muka, penggunaan fasilitas serta penjualan produk dan jasa. The Group, in its regular conduct of business, is engaged in transactions with related parties principally consisting of purchases of raw materials and supplies, subcontract costs, royalties, advances, use of facilities and sales of products and services. Rincian saldo dan transaksi dengan pihak-pihak berelasi adalah sebagai berikut: The details of account balances and transactions with related parties are as follows: Persentase terhadap Jumlah Aset Liabilitas Jumlah Percentage to Total Assets Amount Liabilities 31 Desember December 31 31 Desember December 31 2014 2013 2014 2013 Piutang Usaha Catatan 5 Trade Receivables Note 5 Vallourec Middle East FZE 6.441.074 5.813.351 2,4783 2,1205 Vallourec Middle East FZE Aqua-Terra Logistics Pte Ltd 2.526.292 1.667.641 0,9720 0,6083 Aqua-Terra Logistics Pte Ltd PT Suryasarana Hidupjaya 1.481.920 4.754 0,5702 0,0017 PT Suryasarana Hidupjaya Vallourec Asia Pacific Pte Ltd 1.406.713 601.552 0,5413 0,2194 Vallourec Asia Pacific Pte Ltd PT H-Tech Oilfield Equipment 1.160.233 248.011 0,4464 0,0905 PT H-Tech Oilfield Equipment VAM Drilling Products VAM Drilling Products Middle East FZE 901.876 - 0,3470 - Middle East FZE PT Citra Tubindo Engineering 738.663 722.243 0,2842 0,2634 PT Citra Tubindo Engineering PT Dwi Sumber Arca Waja 402.070 282.256 0,1547 0,1030 PT Dwi Sumber Arca Waja VAM USA LLC 225.630 - 0,0868 - VAM USA LLC Sin Soon Huat Corporation Ltd 47.456 131.867 0,0183 0,0481 Sin Soon Huat Corporation Ltd Vallourec Oil Gas France 45.083 12.799.231 0,0173 4,6687 Vallourec Oil Gas France Vallourec Deutschland Gmbh 24.165 398.321 0,0093 0,1453 Vallourec Deutschland Gmbh Sumitomo Corporation Sumitomo Corporation Asia Oceania Pte Ltd 19.390 2.238.316 0,0075 0,8165 Asia Oceania Pte Ltd Lain-lain masing-masing di bawah AS100.000 71.814 26.907 0,0277 0,0097 Others each below US100,000 Jumlah 15.492.379 24.934.450 5,9610 9,0951 Total Dikurangi penyisihan kerugian Less allowance for impairment penurunan nilai atas piutang usaha 34.083 35.545 0,0131 0,0129 losses on trade receivables Neto 15.458.296 24.898.905 5,9479 9,0822 Net Piutang dari Pihak-pihak Berelasi Due from Related Parties PT Citra Tubindo Engineering 4.180.553 4.084.455 1,6086 1,4899 PT Citra Tubindo Engineering PT Citra Agramasinti Nusantara 2.002.199 1.997.898 0,7704 0,7288 PT Citra Agramasinti Nusantara PT H-Tech Oilfield Equipment 97.873 133.348 0,0377 0,0486 PT H-Tech Oilfield Equipment Lain-lain masing-masing di bawah AS100.000 58.167 112.794 0,0223 0,0411 Others each below US100,000 Jumlah 6.338.792 6.328.495 2,4390 2,3084 Total Utang Usaha Catatan 12 Trade Payables Note 12 Vallourec Deutschland Gmbh 27.684.503 43.935.804 24,3706 35,6482 Vallourec Deutschland Gmbh Vallourec Tubes France SAS 20.928.529 23.230.119 18,4233 18,8482 Vallourec Tubes France SAS Vallourec Tubos Do Brasil SA 3.357.740 8.503.350 2,9558 6,8994 Vallourec Tubos Do Brasil SA Aqua-Terra Logistics Pte Ltd 2.349.318 2.471.099 2,0681 2,0050 Aqua-Terra Logistics Pte Ltd Vallourec Oil Gas Vallourec Oil Gas China Co Ltd 1.418.143 - 1,2484 - China Co Ltd VAM Far East Pte Ltd 535.642 466.044 0,4715 0,3781 VAM Far East Pte Ltd Vallourec Oil Gas France 504.908 417.566 0,4445 0,3388 Vallourec Oil Gas France PT Unimas Motor Wasta 165.188 225.401 0,1454 0,1829 PT Unimas Motor Wasta PT Kabil Indonusa Estate 65.178 233.939 0,0574 0,1898 PT Kabil Indonusa Estate VALTI SAS - 155.345 - 0,1260 VALTI SAS Vallourec Middle East FZE - 124.756 - 0,1012 Vallourec Middle East FZE Lain-lain masing-masing di bawah AS100.000 311.893 322.779 0,2745 0,2620 Others each below US100,000 Jumlah 57.321.042 80.086.202 50,4595 64,9796 Total