INVENTORIES continued SMRA Interim Acc - Q2 2012 Eng

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of 30 June 2012 unaudited and 31 December 2011 audited and For the period of six months ended 30 June 2012 and 2011 unaudited Expressed in thousand of rupiah, unless otherwise stated 40 The details of construction in progress as of 30 June 2012 and 31 December 2011 are as follows: 30 June 2012 31 December 2011 Amount Percentage of completion Amount Percentage of completion Genset Summarecon Mal Serpong II - - 37,704,907 83,4 Scientia Digital Center 5,105,133 4 - - Others 10,010,801 - 2,309,883 - Total construction in progress 15,115,934 40,014,790 The percentages of completion of the construction in progress as of 30 June 2012 and 31 December 2011 are based on the actual expenditures incurred compared to the total budgeted project cost. Fixed assets, except land, are covered by insurance against fire, flood and other risks all-risks under blanket policies with several companies, including PT Asuransi Reliance Indonesia, PT Asuransi Central Asia, PT Asuransi Allianz Utama Indonesia, PT Asuransi Adira Dinamika and PT Asuransi Sinar Mas, all third parties, for US16,812,100 and Rp86,963,216 in 2012 and 2011, SH, a subsidiary, also covered its fixed assets by insurance against terrorism and sabotage for US14,000,000 in 2010. In addition the Company and Subsidiaries obtained insurance against business interruption for Rp4,828,000 in 2012 and 2011. The Company and Subsidiaries’ management is of the opinion that the above coverages are adequate to cover possible losses arising from such risks. As of 30 June 2012 and 31 December 2011, fixed assets with net book value of Rp60,753,284 and Rp62,633,714, respectively, are pledged as collateral for the loans from banks and financing institution Note 15. Based on the Company’s and Subsidiaries’ assessments, there were no events or changes in circumstances which indicated an impairment in the value of fixed assets as of 30 June 2012 and 31 December 2011. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of 30 June 2012 unaudited and 31 December 2011 audited and For the period of six months ended 30 June 2012 and 2011 unaudited Expressed in thousand of rupiah, unless otherwise stated 41 13. INVESTMENT PROPERTIES The details of investment properties as of 30 June 2012 dan 31 December 2011 are as follows: 30 June 2012 Balance as of 1 January 2012 Additions Deductions Reclassifications Balance as of 30 June 2012 2012 Movements Cost : Land 420,220,408 48,976,370 - - 469,196,778 Buillding and infrastructures 1,551,833,517 26,059,611 316,509 537,976 1,578,114,595 Hotel facilities 54,284,601 22,208 - - 54,306,809 Machinery and Heavy equipment 273,829,523 36,798,354 - 17,871,123 328,499,000 Furniture and office equipment 864,266 - - - 864,266 2,301,032,315 111,856,543 316,509 18,409,099 2,430,981,448 Construction in progress 32,604,172 139,079,094 19,774 5,892,651 165,770,841 Total cost 2,333,636,487 250,935,637 336,283 12,516,448 2,596,752,289 Accumulated depreciation Buillding and infrastructures 287,828,427 21,909,471 267,854 3,978 309,474,022 Hotel facilities 17,110,682 5,563,201 - - 22,673,883 Machinery and Heavy equipment 103,200,932 14,030,688 - 119,485 117,351,105 Furniture and office equipment 70,366 77,344 - - 147,710 Total accumulated depreciation 408,210,407 41,580,704 267,854 123,463 449,646,720 Net book value 1,925,426,080 2,147,105,569 31 December 2011 Balance as of 1 January 2011 Additions Deductions Reclassifications Balance as of 31 December 2011 2011 Movements Cost : Land 411,027,113 7,947,010 - 1,246,285 420,220,408 Buillding and infrastructures 990,100,753 427,078,284 2,346,591 137,001,071 1,551,833,517 Hotel facilities - 13,857,998 - 40,426,603 54,284,601 Machinery and Heavy equipment 186,009,967 25,164,298 2,082,554 64,737,812 273,829,523 Furniture and office equipment - - - 864,266 864,266 1,587,137,833 474,047,590 4,429,145 244,276,037 2,301,032,315 Construction in progress - 35,414,580 389,782 2,420,626 32,604,172 Total cost 1,587,137,833 509,462,170 4,818,927 241,855,411 2,333,636,487 Accumulated depreciation Buillding and infrastructures 235,346,963 28,451,092 157,866 24,188,238 287,828,427 Hotel facilities - 11,122,715 - 5,987,967 17,110,682 Machinery and Heavy equipment 73,401,673 25,000,870 553,191 5,351,580 103,200,932 Furniture and office equipment - - - 70,366 70,366 Total accumulated depreciation 308,748,636 64,574,677 711,057 35,598,151 408,210,407 Net book value 1,278,389,197 1,925,426,080