PT. TUNAS BARU LAMPUNG Tbk AND ITS SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
CONSOLIDATED BALANCE SHEETS AS OF MARCH 31, 2011 AND DECEMBER 31, 2010 AND CONSOLIDATED COMPREHENSIF STATEMENTS OF INCOME FOR THE THREE MONTHS
PERIOD ENDED MARCH 31, 2011 AND 2010 Continued
- 39 - Standard Chartered Bank, Jakarta SCB
On September 21, 2009, SCB and the Company agreed to terminate „The Target Redemption Forward Currency Option‟ contract. Accordingly, the Company will pay a total amount of US 800
thousand, without interest, and to be paid over 32 months starting December 22, 2009. As of March 31, 2011 and December 31, 2010, liability to SCB amounted to US 375 thousand and
US 475 thousand, respectively.
23. FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Fair value is the value at which a financial instrument could be exchanged between parties who understand and are willing to conduct fair transactions, and is not a sales value due to financial
difficulties or a forced liquidation. The fair value is obtained from quoted prices or discounted cash flow model, as appropriate.
The following table sets forth carrying amounts and estimated fair value of the Company and its subsidiaries financial assets and liabilities at March 31, 2011 and December 31, 2010:
Estimasi Nilai Estimasi Nilai
Wajar Wajar
FINANCIAL ASSETS Financial Current Assets
Cash and cash equivalents 180,429,881
180,429,881 242,981,146
242,981,146 Short-term investment
10,135,000 10,135,000
10,033,300 10,033,300
Trade accounts receivable 198,071,839
198,071,839 224,146,244
224,146,244 Other accounts receivable
4,499,341 4,499,341
5,753,891 5,753,891
Guarantee deposit 13,831,559
13,831,559 13,103,632
10,181,333 Other current assets
- -
504,376 504,576
Total financial current assets 406,967,620
406,967,620 496,522,589
493,600,490 Financial Noncurrent Assets
Other non current receivables - related parties
9,962,338 9,962,338
6,207,226 6,207,226
Total Financial Assets 416,929,958
416,929,958 502,729,815
499,807,716 FINANCIAL LIABILITES
Financial Current Liabilites Short term bank loans
607,294,975 607,294,975
696,715,583 696,715,583
Trade accounts payable 200,719,842
200,719,842 176,756,260
176,756,260 Accrued expenses
19,878,521 19,878,521
28,846,585 28,846,585
Other current liabilities 92,711,948
92,711,948 94,649,618
94,649,618 Total financial current liabilities
920,605,286 920,605,286
996,968,046 996,968,046
Financial Noncurrent Liabilites Due to - related partties
- -
777,278 777,278
Long-term liabilities current and noncurrent
Long-term bank loans 596,550,657
596,550,657 617,816,807
617,816,886 Other payables
13,365,875 13,365,875
15,120,725 15,120,725
Borrowings 5,231,335
5,231,335 5,686,567
5,687,114 Due to stockholders
8,689,265 8,689,265
8,689,265 8,689,265
Total financial Noncurrent Liabilities
623,837,132 623,837,132
648,090,642 648,091,268
Total Financial Liabilities 1,544,442,418
1,544,442,418 1,645,058,688
1,645,059,314 March 31, 2011
December 31, 2010 Nilai Tercatat
Nilai Tercatat
PT. TUNAS BARU LAMPUNG Tbk AND ITS SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
CONSOLIDATED BALANCE SHEETS AS OF MARCH 31, 2011 AND DECEMBER 31, 2010 AND CONSOLIDATED COMPREHENSIF STATEMENTS OF INCOME FOR THE THREE MONTHS
PERIOD ENDED MARCH 31, 2011 AND 2010 Continued
- 40 - The following methods and assumptions were used by the Company and its subsidiaries to
estimate the fair value of each class of financial instrument: Current financial assets and liabilities
Due to the short term nature of the transactions, the carrying amounts of the current financial assets and financial liabilities approximate the estimated fair market values.
Non-current financial assets and liabilities 1 Financial instruments quoted in an active market
Consist of short-term investments in subordinated bonds. The fair values are determined based on the latest published quoted price as of March 31, 2011 and December 31, 2010.
2 Long-term fixed-rate and variable rate financial liabilities Consist of long-term bank loans, borrowings, and other payables. The fair value of the
financial liabilities is determined by discounting the future cash flows using applicable rates from observable current market transactions for instruments with similar terms, credit risk, and
remaining maturities.
3 Other long-term financial assets and liabilities Consist of due from and due to related parties and other non-current assets, and due to
stockholders. Fair value is based on discounted future cash flows adjusted to reflect counterparty risk for financial asset and the Company and its subsidiaries‟ credit risk for
financial liabilities using current market rates for similar instruments.
24. CAPITAL STOCK