PT SUMMARECON AGUNG Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of June 30, 2017 and for the Six-Month Periods Then Ended Expressed in thousands of Indonesian Rupiah, unless otherwise stated
47
12. SHORT-TERM BANK LOANS AND LONG-TERM DEBTS CONTINUED
As of June 30, 2017 and December 31, 2016, the details of future installments of the long-term loans from banks and financing institutions are as follows:
June 30, 2017 December 31, 2016
Year Due continued 2022
350,647,639 172,964,086
2023 163,723,905
72,280,736
Total installments 4,139,895,063
3,903,881,393 PT Bank Sumitomo Mitsui Indonesia Sumitomo
The Company obtained Credit Revolving facility from Sumitomo with a maximum amount of Rp250,000,000, with credit period for a year starting from August 12, 2016 until August 31, 2017 and bore interest at annual rate of 8.4. The
outstanding loan balance as of June 30, 2017 amounting to Rp250,000,000 2016: Rp250,000,000. In 2017, the Company made principal payment amounting to Rp500,000,000.
PT Bank Mandiri Persero Tbk Mandiri
The Company obtained several facilities from Mandiri as follows: -
Working capital credit facility with a maximum amount of Rp200,000,000, obtained on June 22, 2016. The loan is used to support the Company operational requirements in relation to the development of the residential and
commercial area of Summarecon Bekasi, which is collateralized by MKOJ’s investment property Note 10 and is due on June 21, 2017. For the six-months period ended June 30, 2017, this loan bore interest at the annual rate of
9.85 2016: 9.85. The outstanding loan balance as of June 30, 2017 is Rp200,000,000 2016: Rp200,000,000. In 2017, the Company has not made any principal payment.
- Special Purpose Credit Facility PTK II with a maximum amount of Rp600,000,000, obtained in 2013, and will be
paid in quarterly installments starting from December 2015 to March 2020. This loan is collateralized by undeveloped land owned by JYBA and investment properties owned by LTMD Notes 7 and 10. Both guarantees
are cross collateral and cross default with other credit facilities. For the six-months period ended June 30, 2017, the loan bore interest at the annual rate of 9.85. The outstanding loan balance as of June 30, 2017 amounted to
Rp517,500,000 2015: Rp542,500,000. In 2017, the Company has made principal payment amounting to Rp25,000,000.
- Special Purpose Credit Facility PTK III, with a maximum amount of Rp750,000,000, obtained in 2015, is used for
capital expenditures financing in Summarecon Bekasi area. The loan will be paid in quarterly installments starting from April 2018 to April 2021 and bear interest at the annual rate ranging from 9.85 up to 10.25. The loan is
collateralized by MKOJ’s investment properties Note 10. The guarantees are cross collateral and cross default with other credit facilities. The outstanding loan balance as of June 30, 2017 amounted to Rp750,000,000 2016:
Rp601,863,000. In 2017 and 2016, the Company has not made any principal payment.
MKOJ obtained several facilities from Mandiri as follows: -
Investment credit facility from Mandiri with a maximum amount of Rp530,000,000, obtained in 2012, that has been fully drawn in 2013 and will be paid in quarterly installments starting on the second quarter of 2014 up to the second
quarter of 2020. The loan is collateralized by MKOJ’s investment properties Note 10, escrow accounts Note 11 and corporate guarantees from MKOJ’s shareholders. In 2017 and 2016, the loan bore interest at annual rate of
10.00. As of June 30, 2017, the outstanding loan balance amounted to Rp391,000,000 2016: Rp426,000,000. In 2017, the MKOJ has made principal payment amounting to Rp35,000,000 2016: Rp54,000,000.
PT SUMMARECON AGUNG Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of June 30, 2017 and for the Six-Month Periods Then Ended Expressed in thousands of Indonesian Rupiah, unless otherwise stated
48
12. SHORT-TERM BANK LOANS AND LONG-TERM DEBTS CONTINUED PT Bank Resona Perdania Resona
