PT. TUNAS BARU LAMPUNG Tbk AND ITS SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
CONSOLIDATED BALANCE SHEETS AS OF JUNE 30, 2011 AND DECEMBER 31, 2010 AND CONSOLIDATED COMPREHENSIF STATEMENTS OF INCOME FOR THE SIX MONTHS
PERIOD ENDED JUNE 30, 2011 AND 2010 Continued
- 51 - In relation to these agreements, the Company and BNIL are committed to, among others:
develop the plantations belonging to the KUD members; provide training in administration, management and technical skills;
purchase all fresh fruit bunches from the farmers as long as the plasma plantations are producing; and
pay the loan installments to Bank Mandiri from the amounts withheld from the payments to the farmers.
2. Purchase Contract with Overseas Buyer The Buyer and Standby Letter of Credit
SBLC Facilities from Bank Mandiri. Since 2004, the Company and the Buyer has entered into a Purchase Contract wherein the
Buyer agreed to purchase the Company‟s CPO. The contract has been extended several times with details as follows:
a. Contract No. 02PKOTBL-IUE2010 dated April 30, 2010 for sale of PKO with a total
contract value of US 36.000 thousand, covering the periode of June 2010 – May 2012.
b. Contract No. 03PKOTBL-IUE2010 dated July 8, 2010 for sale of PKO with a total contract value of US 24.000 thousand, covering the periode of October 2010
– September 2012.
c. Contract No. P60480 dated July 2, 2010 for sale of CPO and PKO with a total contract value of US 60,000 thousand, covering the period of October 2010
– September 2012. d. Contract No. P61229 dated August 24, 2010 for sale of CPO and PKO with a total
contract value of US 12,000 thousand, covering the period of October 2010 – July 2011.
e. Contract No. P63177 dated November 16, 2010 for sale of CPO and PKO with a total contract value of US 18.000 thousand, covering the periode of February 2011
– September 2012.
f. Contract No. P55154 dated May 15, 2009 for sale of CPO with a total contract value of US 20,000 thousand, covering the period of July 2009
– April 2010 and not extended. g. Contract No. P54967 dated April 29, 2009 for sale of CPO with a total contract value of
US 5,000 thousand, covering the period of September 2009 and February 2010 and not extended.
h. Contract No. P54425 dated March 27, 2009 for sale of CPO with a total contract value of US 5,000 thousand, covering the period of October 2009 and January 2010 and not
extended.
PT. TUNAS BARU LAMPUNG Tbk AND ITS SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
CONSOLIDATED BALANCE SHEETS AS OF JUNE 30, 2011 AND DECEMBER 31, 2010 AND CONSOLIDATED COMPREHENSIF STATEMENTS OF INCOME FOR THE SIX MONTHS
PERIOD ENDED JUNE 30, 2011 AND 2010 Continued
- 52 - i.
Contract No. P40956 dated September 11, 2006 for sale of CPO with a total contract value of US 48,000 thousand, covering the period from October 1, 2006
– September 30, 2010 and not extended.
In relation to the aforementioned transaction, Bank Mandiri has agreed to grant SBLC facility to the Company in the amount not exceeding US 20,000 thousand, to secure advance
payment from the Buyer.
3. Storage Tanks Rental Contract Tanks Rental
