PT XL AXIATA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2007, 2008 AND 2009; AND 31 MARCH 2009 AND 2010
Expressed in millions of Rupiah, unless otherwise stated
Page 30
8. FIXED ASSETS continued
The calculation of the loss on sale and write-off of fixed assets is as follows:
31122007 31122008
31122009 31032009
3103 2010
Cost 200,199
419,538 1,335,759
237,923 58,827
Accumulated depreciation 166,141
279,426 1,277,056
231,636 43,719
Net book value 34,058
140,112 58,703
6,287 15,108
Proceeds from sale of fixed assets and insurance claims
5,094 100,898
23,730 4,775
522 Loss on sale and write-off of fixed assets
28,964 39,214
34,973 1,512
14,586
As at 31 March 2010, the fixed assets of the Company and its subsidiaries are insured by insurance policies covering “property, all risks and business interruption” for USD 2,612,000,000 from a third
party, PT MAA General Assurance, which the management believes is adequate to cover losses.
Management believes that there is no impairment in assets value as at each reporting date.
9. SHORT-TERM LOANS
31122007 31122008
31122009 31032009
31032010
The Royal Bank of Scotland formerly ABN AMRO Bank N.V
- 547,500
- -
-
On 21 January 2008, the Company entered in to a credit facility agreement with The Royal Bank of Scotland formerly ABN AMRO Bank N.V. amounting to USD 50,000,000. The loan matures 1 one
year after the first drawdown. On 4 December 2008, the maturity date was amended to 22 July 2009. Interest on the loan is a 3 month’s LIBOR plus a 1.20 margin. Based on the latest amendment dated
4 December 2008, the interest rate changed to 3 months’ LIBOR plus a 1.80 margin for the period 23 January 2009 to 22 July 2009. The Company is required to comply with certain conditions, such as
that the ownership of Axiata Group Berhad formerly TM International Berhad in the Company should not be less than 51.
The outstanding principal as of 31 December 2008 amounted to USD 50,000,000 equivalent to Rp 547.5 billion full amount. The credit facility was utilised for loan refinancing and working capital
purposes. This loan was fully repaid on 30 March 2009.
10. TRADE AND OTHER PAYABLES
31122007 31122008
31122009 31032009
3103 2010 Third parties
Purchase of fixed assets 2,500,169
2,778,161 1,474,393
2,509,521 1,475,307
Operational expenditure 373,038
526,191 468,985
557,095 499,627
Interconnection and telecommunications service payable
96,646 101,136
162,037 112,858
165,788 2,969,853
3,405,488 2,105,415
3,179,474 2,140,722
Related parties
Interconnection and telecommunications service payable
3,628 28,253
26,832 38,421
26,923 2,973,481
3,433,741 2,132,247
3,217,895 2,167,645
PT XL AXIATA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2007, 2008 AND 2009; AND 31 MARCH 2009 AND 2010
Expressed in millions of Rupiah, unless otherwise stated
Page 31
10. TRADE AND OTHER PAYABLES continued
31122007 31122008
31122009 31032009
31032010
Less current portion: - Third parties
2,674,050 3,250,610
2,072,670 2,919,508
2,121,536 - Related parties
3,628 28,253
26,832 38,421
26,923 Non-current portion
295,803 154,878
32,745 259,966
19,186
Trade and other payables according to currency are as follows:
31122007 31122008
31122009 31032009
31032010
Rupiah 735,569
928,596 687,357
811,084 599,121
Foreign currencies 2,237,912
2,505,145 1,444,890
2,406,811 1,568,524
2,973,481 3,433,741
2,132,247 3,217,895
2,167,645
Refer to Note 26 for related party information.
11. ACCRUED EXPENSES - THIRD PARTIES
31122007 31122008
31122009 31032009
3103 2010
Telecommunications services expenses 147,565
46,177 229,413
58,686 310,057
Salaries and employee benefits 75,333
126,266 165,242
63,863 112,245
Interest 231,499
156,085 104,959
121,256 79,032
Others 57,571
100,073 49,719
93,264 66,272
511,968 428,601
549,333 337,069
567,606
12. DEFERRED REVENUE
31122007 31122008
31122009 31032009
31032010
Cellular telecommunications services 409,223
575,858 592,098
532,781 594,805
Leased tower -
14,419 4,307
425,328 495,353
Leased lines 1,195
1,155 1,499
1,129 2,480
410,418 591,432
597,904 959,238
1,092,638
13. LONG-TERM LOANS
31122007 31122008
31122009 Equivalent
Equivalent Equivalent
Original to million
Original to million
Original to million
currency Rupiah
currency Rupiah
currency Rupiah
PT Bank Mandiri Persero Tbk
Rp 400,000
400,000 Rp 3,600,000
3,600,000 Rp 3,200,000
3,200,000 PT Bank Central Asia
Tbk -
- Rp 3,000,000
3,000,000 Rp 3,000,000
3,000,000 Exportkreditnämnden
EKN -
- USD 213,949,508 2,342,747 USD 344,364,981
3,237,031 PT Bank Sumitomo
Mitsui Indonesia -
- Rp 300,000
300,000 Rp 300,000
300,000 PT Bank DBS Indonesia USD 50,000,000
470,950 Rp 700,000
700,000 Rp 700,000
700,000 The Bank of Tokyo -
Mitsubishi UFJ, LTD -
- -
- -
- PT ANZ Panin Bank
- - Rp
250,000 250,000 Rp
250,000 250,000
Standard Chartered Bank
USD 100,000,000 941,900 USD 150,000,000
1,642,500 USD 50,000,000 470,000
Syndicated loan facilities I
- - USD 140,000,000
1,533,000 -
- PT Bank Mizuho
Indonesia USD 50,000,000
470,950 USD 50,000,000 547,500
- -