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
68 44 hectares of land of Grand Orchard, located in Pegangsaan Dua. On 24 November 2011, the East
Jakarta District Court decided to refuse the plaintiff’s claim. However, on 21 December 2011, the plaintiff filed an appeal to the Jakarta High Court. As of 30 June 2012, no decision has been made
by the Jakarta High Court.
g.
The Company defendant vs. Iin Parwati plaintiff in relation to fence installation above the plaintiff’s ground. On 28 November 2011, the Tangerang District Court decided to refuse the
plaintiff’s claim. However, on 30 November 2011, the plaintiff filed an appeal to the Banten High Court. As of 30 June 2012, no decision has been made by the Banten High Court.
h. The Company defendant and PT Persada Graha Permai co-defendant vs. R. Bey Ubaydillah
plaintiff concerning a claim over approximately 53,120 square meters of land located in Pegangsaan Dua. As of 30 June 2012, no decision has been made by the East Jakarta district
Court.
i.
Ministry of Law and Human Rights defendant and CDA defendent intervension vs. PT Citraputra Lestari plaintiff concerning legality of the Ministry of Law and Human Right’s decision about the
amendment of the articles of association of CDA and the receipt of report on the amendment. On 20 December 2010, the Jakarta State Administrative Court decided to refuse the plaintiff’s claim.
However, on 14 September 2011, the plaintiff filed an appeal to the Jakarta High State Administrative Court, which affirmed the Jakarta State Administrative Court’s decision. On 23
November 2011, the plaintiff filed an appeal to the Supreme Court. As of 30 June 2012, no decision has been made by the Supreme Court.
The Company’s management believes that the above litigations will not have a material effect and will not influence the going concern status of the Company and that these can be settled in accordance with
existing laws.
39. RECENT DEVELOPMENTS AFFECTING ACCOUNTING STANDARDS AND INTERPRETATIONS
The following are several accounting standards published by the Indonesian Financial Accounting Standards Board DSAK that are considered relevant to the financial reporting of the Company and
Subsidiaries but will be effective only starting on 1 January 2012 :
a. PSAK 10 Revised 2010, The Effects of Changes in Foreign Exchange Rates
This revised PSAK prescribes how to include foreign currency transactions and foreign operations in the financial statements of an entity and translate financial statements into a presentation currency.
b.
PSAK 13 2011, Investment Property This PSAK shall be applied in the recognition, measurement and disclosure of investment property,
including the measurement in a lessees financial statements of investment property interests held under a lease accounted for as a finance lease and to the measurement in a lessors financial
statements of investment property provided to a lessee under an operating lease
c.
PSAK 16 2011, Property, Plant and Equipment This PSAK prescribes the accounting treatment for property, plant and equipment so that users of
the financial statements can discern information about an entitys investment in its property, plant and equipment and the changes in such investment. The principal issues in accounting for property,
plant and equipment are the recognition of the assets, the determination of their carrying amounts and the depreciation charges and impairment losses to be recognized in relation to them.
d.
PSAK 18 Revised 2010, Accounting and Reporting by Retirement Benefit Plans This revised PSAK is concerned with the determination of the cost of retirement benefits in the
financial statements of employers having plans. This Standard complements PSAK 24 Revised
