PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Nine months ended September 30, 2006 and 2005 Expressed in rupiah, unless otherwise stated
17
4. TRADE RECEIVABLES
The details of trade receivables are as follows:
2006 2005
Related Party see Note 22 Cement business
HCT Services Asia Pte., Ltd., Singapore US3,730,725 in 2006 and
US4,766,204 in 2005 34,453,249,623
49,139,564,477
Third Parties Cement and ready mix concrete business
662,912,600,422 556,652,991,232
Allowance for doubtful accounts 14,184,435,448
18,525,156,535
Net 648,728,164,974
538,127,834,697
The movements of allowance for doubtful accounts are as follows:
2006 2005
Balance at beginning of period 13,835,340,496
13,822,091,743 Provision during the period
360,000,000 6,131,877,800
Receivables written off during the period 10,905,048
1,428,813,008
Balance at end of period 14,184,435,448
18,525,156,535
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, 2006 and 2005 is as follows:
2006
Currency U.S. Dollar
Rupiah Equivalent Rupiah
Total Current
569,330,942,016 31,088,752,761 600,419,694,777
Overdue: 1 - 30 days
43,744,383,865 3,364,496,862 47,108,880,727
31 - 60 days 12,913,819,531
- 12,913,819,531 61 - 90 days
5,908,552,897 -
5,908,552,897 Over 90 days
31,014,902,113 - 31,014,902,113
Total 662,912,600,422
34,453,249,623 697,365,850,045
PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Nine months ended September 30, 2006 and 2005 Expressed in rupiah, unless otherwise stated
18
4. TRADE RECEIVABLES continued 2005
Currency U.S. Dollar
Rupiah 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 5. OTHER RECEIVABLES
The details of other receivables are as follows:
2006 2005
Contested payment for tax assessments 5,502,658,681
5,502,658,681 Claim for tax refund
5,391,795,600 -
Others 7,676,779,960
6,108,901,153 Total
18,571,234,241 11,611,559,834
Allowance for doubtful accounts 7,371,980,358
7,373,045,808
Net 11,199,253,883
4,238,514,026
The movements of allowance for doubtful accounts are as follows:
2006 2005
Balance at beginning of period 7,371,980,358
8,503,980,725 Receivables written off during the period
- 1,130,934,917
Balance at end of period 7,371,980,358
7,373,045,808
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.
PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Nine months ended September 30, 2006 and 2005 Expressed in rupiah, unless otherwise stated
19
6. INVENTORIES
