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
- 38 - Based on the respective finance lease agreements, the future minimum lease payments are as
follows:
22. OTHERS PAYABLE
The following other payables resulted from the termination of certain derivative contracts Note 36:
Sucorinvest Limited and PT Bank Danamon Indonesia Tbk Danamon The Company has a liability to Bank Danamon amounting to Rp 13,250,000 thousand and
US 8,000 thousand in relation to the Settlement Agreement of Cancellable Forward Transactions. Liability amounting to Rp 13,250,000 thousand will be settled on a monthly basis for 4 four years
starting January 2010 and without interest. In December 2009, Sucorinvest Limited has taken over the payable of the Company to Bank
Danamon amounting to US 8,000 thousand. Accordingly, the Company‟s liability to Bank Danamon was transferred to Sucorinvest Limited which is mandatorily converted into 200,000,000
new shares of the Company. In the Extraordinary
Stockholders‟ Meeting as documented in Notarial Deed No. 19 dated May 25, 2010 of Kartuti Suntana Sastraprawira, S.H., public notary in Jakarta, the stockholders approved to
increase the capital stocks without Right Issues. The increase of the capital stocks without Right Issues was conducted in relation to convert the mandatory convertible loans amounting to Rp
75,200,000 thousand equivalent to US 8,000 thousand for 200,000,000 new shares with nominal value Rp 125 per share Note 24.
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
