PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Six months ended June 30, 2007 and 2006 Expressed in rupiah, unless otherwise stated
20
6. INVENTORIES continued
Management believes that the above allowance for inventory losses is sufficient to reduce the carrying amounts of inventories to their net realizable values.
The Company made advance payments to several foreign suppliers for the purchase of certain inventories. The outstanding balances of the purchase advances as of June 30, 2007 and 2006
amounting to Rp22,890,958,855 and Rp48,052,159,190, respectively, are presented as part of “Advances and Deposits” in the consolidated balance sheets.
7. LONG-TERM INVESTMENTS AND ADVANCES TO ASSOCIATED COMPANY
The details of this account are as follows:
2007
Accumulated Percentage
Equity in Net of
Earnings Ownership
Cost Losses - Net
Carrying Value Investments in Shares of Stock
a. Equity Method Stillwater Shipping Corporation
50.00 105,500,000
22,897,576,789 23,003,076,789
PT Cibinong Center Industrial Estate
50.00 30,024,000,000
8,248,967,965 21,775,032,035
PT Pama Indo Mining 40.00
1,200,000,000 8,058,792,270
9,258,792,270 PT Indo Clean Set Cement
90.00 464,787,500
464,787,500 -
b. Cost Method Various investees
various 38,150,000
- 38,150,000
Sub-total 31,832,437,500
22,242,613,594 54,075,051,094
Advances PT Indo Clean Set Cement
13,720,944,026 Allowance for doubtful accounts
13,720,944,026 Net advances
-
Total 54,075,051,094
2006
Accumulated Percentage
Equity in Net of
Earnings Ownership
Cost Losses - Net
Carrying Value Investments in Shares of Stock
a. Equity Method PT Cibinong Center Industrial
Estate 50.00
30,024,000,000 10,423,647,685
19,600,352,315 Stillwater Shipping Corporation
50.00 105,500,000
18,210,980,200 18,316,480,200
PT Pama Indo Mining 40.00
1,200,000,000 6,845,427,328
8,045,427,328 PT Indo Clean Set Cement
90.00 464,787,500
464,787,500 -
b. Cost Method Various investees
various 20,000,000
- 20,000,000
Sub-total 31,814,287,500
14,167,972,343 45,982,259,843
Advances PT Indo Clean Set Cement
13,720,944,026 Allowance for doubtful accounts
13,720,944,026 Net advances
-
Total 45,982,259,843
PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Six months ended June 30, 2007 and 2006 Expressed in rupiah, unless otherwise stated
21
7. LONG-TERM INVESTMENTS AND ADVANCES TO ASSOCIATED COMPANY continued
