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DAro EnErgy 2013 AnnuAl rEporT
221
PT ADARO ENERGY Tbk AND SUBSIDIARIES Schedule 561
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2013 AND 2012
Expressed in thousands of
i
S Dollars, unless otherwise stated
35. TRANSACTIONS AND BALANCES WITH RELATED PARTIES
a. Nature of relationships
Related parties Nature of relationship
PT Rachindo Investments Associate
PT Servo Meda Sejahtera Associate
PT Pulau Seroja Jaya Affiliate
PT Pulau Seroja Jaya Pratama Affiliate
PT Rahman Abdijaya Affiliate
b. Transaction details
In the normal course of business, the Group engages in transactions with related parties, primarily consisting of purchases of services and other financial transactions. Refer to Notes 1 and 13 for details of the Company’s
subsidiaries and associates.
2013 2012
Loan to a related party: - PT Servo Meda Sejahtera “SMS”
40,233 44,562
As a percentage of total assets 0.60
0.67 Trade payables refer to Note 17
10,225 24,085
Non-trade related party payables: - PT Rachindo Investments
- 500
10,225 24,585
As a percentage of total liabilities 0.29
0.66 Cost of revenue
Mining services: - PT Rahman Abdijaya
74,197 69,620
Coal barging services: - PT Pulau Seroja Jaya
38,350 32,952
- PT Pulau Seroja Jaya Pratama -
393 112,547
102,965 As a percentage of cost of revenue
4.42 3.84
The Group’s pricing policy related to transactions with related parties is set based on contracted prices. On 18 July 2011, ATA entered into a loan agreement “Agreement I” with SMS and SI, through which ATA agreed to
provide a loan receivable facility of US10,000 to SMS. Agreement I has been amended on 25 November 2011, whereby ATA provided an additional loan receivable facility of US5,000 to SMS. This loan receivable bears an
annual fixed interest rate and the interest will be paid every month from the date of the first draw down. Agreement I was due on 1 December 2011. On 16 March 2012, ATA, SMS and SI extended the maturity date of this loan from 1
December 2011 to 1 June 2012 and ATA provided an additional loan of Rp 50 billion to SMS. The loan receivable was secured with the 35 shares in SMS that are owned by SI.
222
jkl
IABlE, STrong, EFFICIEnT
PT ADARO ENERGY Tbk AND SUBSIDIARIES Schedule 562
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2013 AND 2012
Expressed in thousands of
m
S Dollars, unless otherwise stated
35. TRANSACTIONS AND BALANCES WITH RELATED PARTIES continued
b. Transaction details continued
