PT SAMPOERNA AGRO Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Nine Months Ended September 30, 2007 and 2006
Expressed in thousands of Rupiah, unless otherwise stated
28
11. SHORT TERM BANK LOAN
2 0 0 7 2 0 0 6
PT. Bank Lippo Tbk: - The Company
150,000,000 -
Total 150,000,000
-
PT Bank Lippo Tbk The Company
On July 18, 2007, the Company obtained a loan from PT Bank Lippo Tbk amounting to maximum of US35,000,000 or equivalent amount in Rupiah. The loan is for 12 twelve month period and will due
on July 18, 2008. The loan bears interest rate at i when collateralizedsecured by time-deposit, the interest rate is 1 one month time deposit interest rate + 1 for US Dollar or Rupiah amount ii when
collateralizedsecured by land and buildings and fiduciary guarantee, the interest rate is SIBOR + 1.5 for loan in US dollar and SBI + 2 for loan in Rupiah. According to its agreement, this loan is used
for Company’s working capital purpose. The loan contains certain restrictions on the Company, which are i to enter into a merger ii transfer,
grant, andor provide guarantee on assets to other parties or act as a guarantor for other loans iii obtain new loan from other parties iv conduct general shareholder’s meeting to change Company’s
article of association v involve in uncommon business practices vi change in business or corporate status or liquidate the Company vii enter into new investment viii transfer all or partial rights or
obligations to other parties. The loan requires the Company to follow its terms and conditions. The company is also required to maintain certain financial ratios as mentioned in the agreement.
On July 19, 2007, the Company has withdrawn the loan amounting to Rp150,000,000 with interest rate at 1 one month time-deposit + 1 and collateralized with time-deposit amounting to Rp150,000,000
Note 4.
12. TRADE PAYABLES
2 0 0 7 2 0 0 6
Third parties: Farmers – in Rupiah
99,395,417 46,274,767
Suppliers In Rupiah
9,885,703 2,580,690
In US Dollar 34,249,265
-
Total 143,530,385
48,855,457
Trade payables to farmers represent payables from FFB purchases to Plasma farmers, while trade payables to suppliers mostly represent payables from the purchase of fertilizers and spare parts.
An aging analysis of trade payables was as follows:
2 0 0 7 2 0 0 6
Due within 1 - 30 days 112,605,217
47,307,903 Due between 31 - 60 days
23,426,725 121,900
Due between 61 - 90 days 7,312,596
1,368,885 Due after 90 days
185,847 56,769
Total 145,530,385
48,855,457
PT SAMPOERNA AGRO Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Nine Months Ended September 30, 2007 and 2006
Expressed in thousands of Rupiah, unless otherwise stated
29
13. SALES ADVANCES
