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
41
20. ESTIMATED LIABILITY FOR EMPLOYEE BENEFITS continued
Movements in the estimated liability for employee benefits are as follows:
2005 2004
Balance at beginning of period 33,647,515,723
17,740,633,181 Provision during the period
24,058,112,950 12,475,279,877
Payment during the period 12,097,097,920
388,008,324
Balance at end of period recorded as part of
“Long-term Liabilities - Others” account in the
consolidated balance sheets 45,608,530,753
29,827,904,734
The balance of the non-vested past service costs is amortized over the average remaining number of years of service of active employees, which ranges from 12.19 - 16.02 years in 2005 and from 13.19 -
16.49 years in 2004.
21. TRANSACTIONS AND ACCOUNTS WITH RELATED PARTIES
In the normal course of business, the Company and Subsidiaries entered into transactions with related parties. The significant transactions and related account balances with related parties are as follows:
Percentage to Total AssetsLiabilities
and Related Amount
IncomeExpenses 2005
2004 2005
2004
Trade Receivables - Related Party HCT Services Asia Pte., Ltd., Singapore
49,139,564,477 27,800,796,747
0.47 0.27
Due from Related Parties Officers and employees
58,680,035,201 67,260,057,618
0.56 0.65
Stillwater Shipping Corporation 10,310,000,000
- 0.10
- Others each below Rp1 billion
466,561,528 38,087,370
0.01 0.01
Total 69,456,596,729
67,298,144,988 0.67
0.66 Trade Payables - Related Party
HCT Services Asia Pte., Ltd., Singapore 2,806,687,701
1,116,539,200 0.03
0.01 Accrued Expenses
Stillwater Shipping Corporation -
1,315,565,265 -
0.01 Due to Related Parties
PT Pama Indo Mining 4,249,752,212
4,569,848,103 0.04
0.04 Long-term Loans
HC Finance B.V., Netherlands 1,546,500,000,000
- 14.93
- WestLB AG, Tokyo
- 88,922,106,407
- 0.86
WestLB Asia Pacific Ltd., Singapore -
15,900,707,098 -
0.15 Total
1,546,500,000,000 104,822,813,505
14.93 1.01
Net Revenues HCT Services Asia Pte., Ltd., Singapore
490,736,967,148 460,262,052,562
11.78 13.55
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
42
21. TRANSACTIONS AND ACCOUNTS WITH RELATED PARTIES continued
