PT TRIKOMSEL OKE Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2009 and 2008 Expressed in Rupiah Unless Otherwise Stated
21
9. FIXED ASSETS continued
As of December 31, 2009, the Company paid all its finance lease payables. Finance lease payables are secured by the leased assets. The lease agreements impose restriction to
the Company on sale or transfer these leased assets. 10. OTHER NON-CURRENT ASSETS - NET
This account consists of:
2009 2008
Deferred charges - net Syndication borrowing costs
10,018,556,948 16,697,594,913
Others -
525,000,000 10,018,556,948
17,222,594,913 Restricted time deposit:
PT ANZ Panin Bank US1,200,000 11,280,000,000
- UBS AG, Singapore US983,946 in 2009
and US882,235 in 2008 9,249,095,032
9,660,469,856 Merrill Lynch Pte. Ltd., Singapore
US500,000 in 2009 and 2008 4,700,000,000
5,475,000,000 PT Bank Mandiri Persero Tbk.
4,500,000,000 -
Margin deposit PT Bank Central Asia Tbk. US708,269
- 7,755,545,550
Rental and security deposit US15,280 and Rp3,704,205,881 in 2009
and Rp4,542,145,390 in 2008 5,411,887,415
4,542,145,390 Bank guarantee
- 169,581,015
Others US9,025 in 2009 and US3,393 in 2008 84,838,102
37,148,860
Total other non-current assets - net 45,244,377,497
44,862,485,584
Deferred charges - net - syndication borrowing costs represent costs incurred in obtaining syndicated bank loan, such as upfront fee, arrangement fee, security agency fee and other fees. Deferred charges
are amortized over the term of syndicated bank loan which is three 3 years, except for the annual security agency fee which is amortized over one 1 year Note 11c. The amortization of deferred
charges of Rp8,586,213,799 and Rp3,568,643,982 in 2009 and 2008, respectively, is recognized as part of “Operating Expenses” in the consolidated statements of income Note 21.
Restricted time deposit placed at PT ANZ Panin Bank is used as margin deposit for usance of loan. Restricted time deposit placed in PT ANZ Panin Bank bears interest at 1.00 a year in 2009.
Restricted time deposit placed by the Subsidiary at UBS AG, Singapore, is used as a bank guarantee to obtain Major Exporter Scheme status from the Inland Revenue Authority of Singapore IRAS.
Restricted time deposit placed by the Subsidiary at Merrill Lynch Pte. Ltd., Singapore, is used as a guarantee for stand-by letters of credit facilities for puchases of the inventories from Sony Ericsson
Mobile Communications AB, Sweden. Restricted time deposits placed at UBS AG, Singapore bear interest at 0.01 in 2009 and at Merrill Lynch Pte. Ltd., Singapore at 1.75 in 2009.
PT TRIKOMSEL OKE Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2009 and 2008 Expressed in Rupiah Unless Otherwise Stated
22
10. OTHER NON-CURRENT ASSETS - NET continued
Restricted time deposit placed at PT Bank Mandiri Persero Tbk. is used as guarantee to purchase inventories. Restricted time deposit placed at PT Bank Mandiri Persero Tbk. bears interest at 7 per
annum.
Margin deposit represents deposit placed at PT Bank Central Asia Tbk. in connection with the issuance of letters of credit facilities for purchases of inventories from Nokia Pte. Ltd., Singapore and
Sony Ericsson Mobile Communications AB, Sweden.
11. BANK LOANS - THIRD PARTIES 2009
2008
Rupiah Syndicated bank loan
c 452,000,000,000
351,000,000,000 Time loan revolving
PT Bank Central Asia Tbk. d
75,000,000,000 75,000,000,000
Overdrafts PT Bank Central Asia Tbk.
d 50,431,707,925
48,762,745,797 577,431,707,925
474,762,745,797 US Dollar:
Syndicated bank loan US24,500,000 in 2009 and
US17,000,000 in 2008 c
230,300,000,000 186,150,000,000
Term loan PT ANZ Panin Bank US12,000,000
b 112,800,000,000
- Import invoice financing
Standard Chartered Bank, Indonesia US9,963,298
a 93,655,001,200
- Non-cash loan usance payable
PT Bank Central Asia Tbk. US3,205,000
d -
35,094,750,000 436,755,001,200
221,244,750,000
Total bank loans 1,014,186,709,125
696,007,495,797
Bank loans obtained by the Company are disclosed below: a.
On March 12, 2009, the Company entered into a credit agreement with Standard Chartered Bank “SCB”, whereby the Company obtained Import Invoice Financing facility with maximum credit
limit of US10,000,000, which is intended to finance its purchases of cellular phones from Nokia, Finland. This loan facility is denominated in Rupiah and US Dollar. The Company also obtained
Foreign Exchange I facility, which is related to interest rate swap; and Foreign Exchange II facility, which is related to foreign exchange forward transaction. These loan facilities will mature on
February 28, 2010 and automatically renewable for three 3 months, unless amended by SCB. On March 25, 2009, the Foreign Exchange I facility was canceled through an amended
agreement. Furthermore on June 30, 2009, the Import Invoice Financing facility was amended to change the initial date of the facility from March 12, 2009 to become June 30, 2009.
