PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Three months ended March 31, 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 March 31, 2007 and 2006
amounting to Rp49,495,983,311 and Rp45,950,431,003, 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
21,461,483,201 21,566,983,201
PT Cibinong Center Industrial Estate
50.00 30,024,000,000
9,287,185,812 20,736,814,188
PT Pama Indo Mining 40.00
1,200,000,000 7,733,852,339
8,933,852,339 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
19,443,362,228 51,275,799,728
Advances PT Indo Clean Set Cement
13,720,944,026 Allowance for doubtful accounts
13,720,944,026 Net advances
-
Total 51,275,799,728
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 10,827,700,379
19,196,299,621 Stillwater Shipping Corporation
50.00 105,500,000
16,252,173,888 16,357,673,888
PT Pama Indo Mining 40.00
1,200,000,000 5,916,595,282
7,116,595,282 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
10,876,281,291 42,690,568,791
Advances PT Indo Clean Set Cement
13,720,944,026 Allowance for doubtful accounts
13,720,944,026 Net advances
-
Total 42,690,568,791
PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Three months ended March 31, 2007 and 2006 Expressed in rupiah, unless otherwise stated
21
7. LONG-TERM INVESTMENTS AND ADVANCES TO ASSOCIATED COMPANY continued
