CASH ON HAND AND IN BANKS AT

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

  (Lanjutan)

  (Continued)

  f. Aset dan Liabilitas Keuangan (Lanjutan)

  f. Financial Assets and Liabilities (Continued)

  ii. Liabilitas Keuangan (Lanjutan)

  ii. Financial Liabilities (Continued)

  1) Liabilitas Keuangan Diukur pada nilai

  1) Financial Liabilities Measured at Fair Value

  Through Profit and Loss (Continued)

  (Lanjutan)

  Liabilitas derivatif juga diklasifikasikan

  Derivative liabilities are also classified as

  sebagai dimiliki untuk diperdagangkan

  held for trading unless designated as

  kecuali ditetapkan sebagai instrumen

  effective hedging instruments. Financial

  lindung nilai yang efektif. Liabilitas

  liabilities measured at fair value through

  keuangan pada nilai wajar melalui laporan

  profit or loss are recorded in the

  laba rugi dicatat di laporan posisi keuangan

  consolidated statement of financial position

  konsolidasian pada nilai wajar dengan

  at fair value with gains or losses recognized in

  consolidated statement of comprehensive

  dalam laporan laba rugi komprehensif

  income.

  konsolidasian.

  2) Liabilitas Keuangan Lainnya

  2) Other Financial Liabilities

  Liabilitas keuangan lainnya diukur setelah

  Other financial liabilities are subsequently

  pengukuran awal pada biaya perolehan

  measured at amortized cost, using the

  diamortisasi, dengan menggunakan metode

  effective interest rate method. Gains and

  suku bunga efektif. Keuntungan dan

  losses are recognized in profit and loss when

  kerugian diakui di dalam laba dan rugi

  the liabilities are derecognized, and through

  ketika liabilitas dihentikan pengakuannya,

  the amortization process.

  dan melalui proses amortisasi.

  iii. Pengukuran Nilai Wajar

  iv.

  iii. Fair Value Measurement

  Nilai wajar adalah harga yang akan diterima

  Fair value is the price that would be received to

  untuk menjual suatu aset atau harga yang akan

  sell an asset or paid to transfer a liability in an

  dibayarkan untuk mengalihkan suatu liabilitas

  orderly transaction between market participants

  dalam transaksi teratur antara pelaku pasar

  at measurement date.

  pada tanggal pengukuran.

  Pengukuran nilai wajar mengasumsikan bahwa

  The fair value measurement is based on the

  transaksi untuk menjual aset atau mengalihkan

  presumption that the transaction to sell or

  liabilitas terjadi:

  transfer the liability takes place either:

  • di pasar utama untuk aset dan liabilitas

  • in the principal market for the asset or

  tersebut; atau

  liability; or

  • jika terdapat pasar utama, di pasar yang

  • in the absence of a principal market, in the

  paling menguntungkan untuk aset dan

  most advantageous market for the asset or

  liabilitas tersebut.

  liability.

  Pasar utama atau pasar yang paling

  The principal or the most advantageous market

  menguntungkan harus dapat diakses oleh Grup.

  must be accessible by the Group.

  Nilai wajar suatu aset atau liabilitas

  The fair value of an asset or a liability is

  menggunakan asumsi yang akan digunakan

  measured using the assumptions that market

  pelaku pasar ketika menentukan harga aset

  participants would use when pricing the asset or

  atau liabilitas tersebut, dengan asumsi bahwa

  liability, assuming that market participants act in

  pelaku pasar bertindak dalam kepentingan

  their economic best interest.

  ekonomik terbaiknya.

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

  (Lanjutan)

  (Continued)

  f. Aset dan Liabilitas Keuangan (Lanjutan)

  f. Financial Assets and Liabilities (Continued)

  iii. Pengukuran Nilai Wajar (Lanjutan)

  iv.

  iii. Fair Value Measurement (Continued)

  Grup menggunakan teknik penilaian yang

  The Group uses valuation techniques that are

  sesuai dalam keadaan dan dimana data yang

  appropriate in the circumstances and for which

  memadai tersedia untuk mengukur nilai wajar,

  sufficient data are available to measure fair

  memaksimalkan penggunaan input yang dapat

  value, maximizing the use of relevant observable

  diobservasi yang relevan dan meminimalkan

  inputs and minimizing the use of unobservable

  penggunaan input yang tidak dapat diobservasi.

  inputs.

  Klasifikasi aset keuangan dan liabilitas The classification of financial assets and financial

  keuangan yang diukur pada nilai wajar

  liabilities measured at fair value using a fair

  dengan menggunakan hirarki nilai wajar

  value hierarchy that reflects the significance of

  yang mencerminkan signifikansi input yang

  the inputs used in making the fair value

  digunakan di dalam melakukan pengukuran nilai

  measurement. The fair value hierarchy has the

  wajar. Hirarki nilai wajar memiliki tingkatan

  following levels:

  sebagai berikut:

  Tingkat 1: Kuotasi pasar (tanpa penyesuaian) di

  Level 1: Quoted (unadjusted) prices in active

  dalam pasar aktif bagi aset maupun

  markets for identical assets or liabilities

  liabilitas yang identik yang dapat

  that the Company can access at the

  diakses Perusahaan pada tanggal

  measurement date

  pengukuran diidentifikasi Tingkat 2: Input selain kuotasi pasar yang

  Level 2: Inputs other than market quotations

  termasuk di dalam Tingkat 1 yang

  included within Level 1 that are

  dapat diobservasi bagi aset atau

  observable for the asset or liability,

  liabilitas, baik langsung maupun

  either directly or indirectly

  tidak langsung Tingkat 3: Input bagi aset dan liabilitas yang

  Level 3: Inputs for the asset or liability that are

  bukan berdasarkan data pasar yang

  not based on observable market data

  dapat diobservasi (input yang tidak

  (unobservable inputs)

  dapat diobservasi)

  Tingkatan di dalam hirarki nilai wajar di mana The level in the fair value hierarchy within which

  aset keuangan maupun liabilitas keuangan

  the financial asset or financial liability is

  dikategorisasi, ditetapkan pada basis tingkatan

  categorized is determined on the basis of the

  paling rendah input yang signifikan terhadap

  lowest level input that is significant to the fair

  pengukuran nilai wajar. Aset keuangan dan

  value measurement. Financial assets and financial

  liabilitas keuangan diklasifikasikan secara

  liabilities are classified in their entirety into only

  keseluruhan hanya ke dalam salah satu dari

  one of the three levels.

  ketiga tingkatan tersebut.

  iv. Pengukuran Biaya Perolehan Diamortisasi

  vi. iv. Amortized Cost Measurement

  Biaya perolehan diamortisasi dari aset dan

  The amortized cost of a financial asset or

  liabilitas keuangan adalah jumlah aset atau

  liability is the amount at which the financial

  liabilitas keuangan yang diukur pada saat

  asset or liability is measured at initial

  pengakuan awal dikurangi pembayaran pokok,

  recognition, minus principal payments, plus or

  ditambah atau dikurangi dengan amortisasi

  minus the cumulative amortization using the

  kumulatif dengan menggunakan metode suku

  effective interest rate method, calculated from

  bunga efektif yang dihitung dari selisih antara

  the difference between the initial amount and

  nilai awal dan nilai jatuh temponya, dan

  the maturity amount, minus any reduction for

  dikurangi penyisihan kerugian penurunan nilai.

  impairment.

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

  (Lanjutan)

  (Continued)

  f. Aset dan Liabilitas Keuangan (Lanjutan)

  f. Financial Assets and Liabilities (Continued)

  v. Penurunan Nilai dari Aset Keuangan

  v. Impairment of Financial Assets

  Pada setiap tanggal laporan posisi keuangan At each consolidated statement of financial

  konsolidasian, Grup mengevaluasi apakah

  position date, the Group assesses whether there

  terdapat bukti yang obyektif bahwa aset

  is objective evidence that a financial asset or

  keuangan atau kelompok aset keuangan

  group of financial assets is impaired. A financial

  mengalami penurunan nilai. Aset keuangan

  asset or group of financial assets is impaired and

  atau kelompok aset keuangan diturunkan

  impairment losses are incurred only if there is

  nilainya dan kerugian penurunan nilai telah

  objective evidence of impairment as a result of

  terjadi hanya jika terdapat bukti yang

  one or more events occurring subsequent to

  obyektif mengenai penurunan nilai tersebut

  initial recognition of the asset (loss events), and

  sebagai akibat dari satu atau lebih peristiwa

  that loss event has an impact on the estimated

  yang terjadi setelah pengakuan awal aset

  future cash flows of the financial asset or group

  tersebut (peristiwa yang merugikan), dan

  of financial assets that can be reliably estimated.

  peristiwa yang merugikan tersebut berdampak pada estimasi arus kas masa depan atas aset keuangan atau kelompok aset keuangan yang dapat diestimasi secara handal.

  Grup pertama kali menentukan apakah The Group considers whether there is objective

  terdapat bukti obyektif penurunan nilai secara

  evidence of impairment individually for financial

  individual atas aset keuangan yang signifikan

  assets that are individually significant, and

  secara individual, dan secara individual atau

  individually or collectively for financial assets

  kolektif untuk aset keuangan yang tidak

  that are not individually significant.

  signifikan secara individual.

  Jika Grup menentukan tidak terdapat bukti

  If the Group determines that no objective

  obyektif mengenai penurunan nilai aset

  evidence of impairment of financial assets exists

  keuangan yang dinilai secara individual,

  individually for an individually-assessed financial

  terlepas aset keuangan tersebut signifikan

  assets, regardless of whether the financial asset

  atau tidak, maka Grup memasukkan aset

  is significant or not, those financial assets will be

  tersebut ke dalam kelompok aset keuangan

  assessed collectively in a group of financial assets

  yang memiliki karakteristik risiko kredit yang

  that have similar credit risk characteristics.

  serupa dan menilai penurunan nilai kelompok

  Assets that are individually assessed and for

  tersebut secara kolektif. Aset yang penurunan

  which impairment is recognized or continues to be

  nilainya dinilai secara individual, dan untuk

  recognized, are not included in a collective

  itu kerugian penurunan nilai diakui atau tetap

  assessment of impairment.

  diakui, tidak termasuk dalam penilaian penurunan nilai secara kolektif.

  Jumlah kerugian penurunan nilai atas aset The impairment loss of a financial asset which is

  keuangan yang penurunan nilainya dievaluasi

  assessed individually is measured as the

  secara individual diukur berdasarkan selisih

  difference between the carrying value of the

  antara nilai tercatat aset keuangan dengan

  financial asset and the present value of

  nilai kini dari estimasi arus kas masa datang

  estimated future cash flows discounted using the

  yang didiskontokan menggunakan tingkat suku

  origininal effective interest rate of the financial

  bunga efektif awal dari aset keuangan

  asset. The carrying amount of the asset is

  tersebut. Nilai tercatat aset tersebut dikurangi

  presented by deducting the allowance for

  melalui akun cadangan kerugian penurunan

  impairment losses and the impairment loss is

  nilai dan beban kerugian diakui pada laporan

  recognized in the consolidated statement of

  laba rugi komprehensif konsolidasian.

  comprehensive income.

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

  (Lanjutan)

  (Continued)

  f. Aset dan Liabilitas Keuangan (Lanjutan)

  f. Financial Assets and Liabilities (Continued)

  v. Penurunan Nilai dari Aset Keuangan v. Impairment of Financial Assets (Continued)

  (Lanjutan)

  Arus kas masa datang dari kelompok aset Future cash flows of a group of financial asset

  keuangan yang penurunan nilainya dievaluasi

  that are collectively evaluated for impairment,

  secara kolektif, diestimasi berdasarkan arus

  are estimated on the basis of historical

  kas kontraktual atas aset-aset di dalam

  loss experience for assets with credit risk

  kelompok tersebut dan kerugian historis yang

  characteristics similar to those in the group.

  pernah dialami atas aset-aset yang memiliki

  Historical loss experience is adjusted on the basis

  karakteristik risiko kredit yang serupa dengan

  of current observable data to reflect the effects

  karakteristik risiko kredit kelompok tersebut.

  of current conditions that did not affect the

  Kerugian

  historis yang pernah

  dialami

  period in which the historical loss experience is

  kemudian disesuaikan berdasarkan data terkini

  based and to remove the effects of conditions in

  yang dapat diobservasi untuk mencerminkan

  the historical period that do not exist currently.

  kondisi saat ini yang tidak berpengaruh pada periode terjadinya kerugian historis tersebut, dan untuk menghilangkan pengaruh kondisi yang ada pada periode historis namun sudah tidak ada lagi pada saat ini.

  vi. Penghentian Pengakuan

  vi. Derecognition

  Grup menghentikan pengakuan aset keuangan The Group derecognizes financial assets when the

  pada saat hak kontraktual atas arus kas yang

  contractual rights of the cash flows arising from

  berasal dari aset keuangan tersebut kadaluarsa

  the financial assets expire or the Group transfers

  atau Grup mentransfer seluruh hak untuk

  all rights to receive contractual cash flows of

  menerima arus kas kontraktual dari aset

  financial assets in a transaction where the Group

  keuangan dalam transaksi di mana Grup secara

  has transferred substantially all the risks and

  substansial telah mentransfer seluruh risiko

  rewards of ownership of financial assets. Any

  dan manfaat atas kepemilikan aset keuangan

  rights or obligations on the transferred financial

  yang ditransfer. Setiap hak atau liabilitas atas

  assets that arise or are still owned by the Group

  aset keuangan yang ditransfer yang timbul atau

  are recognized as assets or liabilities separately.

  yang masih dimiliki oleh Grup diakui sebagai aset atau liabilitas secara terpisah.

  Grup menghentikan pengakuan liabilitas The Group derecognizes financial liabilities when

  keuangan pada saat liabilitas yang ditetapkan

  the obligation specified in the contract is

  dalam kontrak dilepaskan, dibatalkan atau

  released, canceled or expires.

  kadaluarsa.

  Dalam transaksi di mana Grup secara subtansial In transactions in which the Group neither

  tidak memiliki atau tidak mentransfer seluruh

  retains nor transfers substantially all the risks

  risiko dan manfaat atas kepemilikan aset

  and rewards of ownership of financial assets, the

  keuangan, Grup menghentikan pengakuan

  Group derecognizes the assets if they do not

  aset tersebut jika Grup tidak lagi memiliki

  retain control over the assets. The rights

  pengendalian atas aset tersebut. Hak dan

  and obligations retained in the transfer are

  liabilitas yang timbul atau yang masih dimiliki

  recognized separately as assets and liabilities as

  dalam transfer tersebut diakui secara terpisah

  appropriate.

  sebagai aset atau liabilitas.

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

  (Lanjutan)

  (Continued)

  f. Aset dan Liabilitas Keuangan (Lanjutan)

  f. Financial Assets and Liabilities (Continued)

  vi. Penghentian Pengakuan (Lanjutan)

  vi. Derecognition (Continued)

  Dalam transfer di mana pengendalian atas In transfers in which control over the asset is

  aset masih dimiliki, Grup tetap mengakui

  retained, the Group continues to recognize the

  aset yang ditransfer tersebut sebesar

  assets to the extent of their continuing

  keterlibatan yang berkelanjutan, dimana

  involvement, determined by the extent to

  tingkat keberlanjutan Grup dalam aset yang

  which they are exposed to changes in the value

  ditransfer adalah sebesar perubahan nilai aset

  of the transferred assets.

  yang ditransfer.

  vii. Saling Hapus

  viii. vii. Offsetting ix.

  Aset dan liabilitas keuangan saling hapus dan

  x.

  Financial assets and liabilities are set-off and

  nilai bersih dilaporkan dalam laporan posisi

  the net amount is presented in the

  keuangan konsolidasian jika, dan hanya jika,

  consolidated statements of financial position

  Grup memiliki hak hukum saat ini yang

  when, and only when, the Group has a legal

  dilaksanakan untuk mengimbangi jumlah

  right to set-off the amounts and intend either

  yang diakui dan ada niat untuk menyelesaikan

  to settle on a net basis or realize the assets

  secara bersih, atau untuk merealisasikan

  and settle the liabilities simultaneously.

  aset dan menyelesaikan liabilitas secara bersamaan.

  g. Kas dan Bank

  g. Cash on Hand and in Banks

  Kas dan bank merupakan bagian aset keuangan

  Cash on hand and in banks are part of

  dan tidak dapat dijadikan sebagai jaminan

  financial assets and are not pledged as collateral for

  atas pinjaman bank dan tidak dibatasi dalam

  bank loans and are not restricted in its use.

  penggunaannya.

  Kas dan setara kas yang dibatasi penggunaannya

  Cash and cash equivalents that are restricted in use

  dan dijadikan jaminan untuk fasilitas pinjaman

  and pledged for loan facilities are presented as

  disajikan sebagai bagian dari “Aset keuangan

  part of “Other current financial assets”.

  lancar lainnya”.

  h. Piutang Usaha dan Piutang Non-Usaha

  h. Trade and Non-Trade Receivables

  Piutang usaha adalah jumlah moneter dari

  Trade receivables are amounts due from customers

  for provision of goods and services performed in

  jasa dalam bisnis normal. Apabila penagihan

  the ordinary course of business. If collection is

  diharapkan dalam waktu satu tahun atau kurang

  expected in one year or less (or in the normal

  (atau di dalam siklus operasi normal bisnis atau

  operating cycle of the business if longer), they are

  lebih lama), maka hal tersebut diklasifikan sebagai

  classified as current assets. If not, they are

  aset lancar. Apabila, sebaliknya, maka diklasifikan

  presented as non-current assets.

  sebagai aset tidak lancar.

  Non-trade receivables from related parties are

  pihak berelasi merupakan saldo piutang yang

  receivable balance reflecting loans given to

  mencerminkan pinjaman yang diberikan kepada

  related parties of the Group.

  pihak berelasi Grup.

  Piutang usaha dan piutang non usaha diakui pada

  Trade and non-trade receivables are recognized

  awalnya sebesar nilai wajar dan selanjutnya diukur

  initially at fair value and subsequently measured

  pada biaya perolehan diamortisasi dengan

  at amortised cost using the effective interest

  menggunakan tingkat suku bunga efektif, apabila

  method, if the impact of discounting is significant,

  dampak diskonto tersebut signifikan, dikurangi

  less any provision for impairment.

  provisi penurunan nilai.

  2. IKHTISAR KEBIJAKAN AKUNTANSI YANG SIGNIFIKAN (Lanjutan)

  2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

  h. Piutang Usaha dan Piutang Non-Usaha (Lanjutan)

  h. Trade and Non-Trade Receivables (Continued)

  Penagihan piutang usaha dan non usaha dikaji ulang secara berkesinambungan. Piutang yang tidak dapat ditagih, dihapuskan dengan mengurangi secara langsung nilai tercatat. Akun penyisihan digunakan ketika terdapat bukti objektif bahwa Grup tidak dapat menagih seluruh jumlah sesuai dengan persyaratan awal piutang. Kesulitan keuangan signifikan debitur, kemungkinan debitur akan mengalami kebangkrutan maupun reorganisasi keuangan, dan kegagalan maupun kelalaian di dalam pembayaran, dianggap sebagai indikator penurunan nilai piutang. Jumlah penyisihan penurunan nilai adalah selisih nilai tercatat aset dengan nilai kini estimasi arus kas masa depan, yang didiskontokan dengan tingkat suku bunga efektif awal. Arus kas yang terkait dengan piutang jangka pendek tidak didiskontokan apabila dampak pendiskontoan tersebut tidak material.

  Jumlah kerugian penurunan nilai, diakui di dalam laba rugi dan disajikan dalam “beban penyisihan penurunan nilai”. Ketika suatu piutang usaha dan non usaha di mana penyisihan penurunan nilai yang diakui tidak tertagih pada periode selanjutnya, maka piutang tersebut dihapusbukukan terhadap akun penyisihan. Setelah periode awal jumlah yang sebelumnya dihapusbukukan, dapat tertagih dikreditkan terhadap “beban penurunan nilai” pada laporan laba rugi.

  Collectability of trade and non-trade receivables is reviewed on an ongoing basis. Receivables which are known to be uncollectible are written off by reducing the carrying amount directly. An allowance account is used when there is objective evidence that the Group will not be able to collect all amounts due according to the original terms of the receivables. Significant financial difficulties of the debtor, probability that the debtor will enter bankruptcy or financial reorganization, and default or delinquency in payments are considered indicators that the receivable is impaired. The amount of the impairment allowance is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the original effective interest rate. Cash flows relating to short term receivables are not discounted if the effect of discounting is immaterial.

  The amount of the impairment loss is recognised in profit or loss within “impairment charges”. When a trade and nontrade receivable for which an impairment allowance had been recognized becomes uncollectible in a subsequent period, it is written off against the allowance account. Subsequent recoveries of amounts previously written off are credited against “impairment charges” in profit or loss.

  i. Transaksi dengan Pihak Berelasi

  i. Transactions with Related Parties

  Suatu pihak dianggap berelasi dengan Grup adalah orang atau entitas yang terkait dengan entitas menyiapkan laporan keuangannya (dirujuk sebagai “entitas pelapor”), sebagai berikut:

  Parties considered to be related to the Group are those persons or entities related to the entity preparing financial statements (referred to as “reporting entity”), as follows:

  (1) Orang atau

  mempunyai relasi dengan entitas pelapor jika orang tersebut: (a) memiliki pengendalian atau pengendalian

  bersama atas entitas pelapor; (b) memiliki pengaruh signifikan atas entitas

  pelapor; atau (c) personil manajemen kunci entitas pelapor

  atau entitas induk entitas pelapor.

  (1) A person or family member has a relationship

  with a reporting entity if that person: (a) has control or joint control over the

  reporting entity; (b) has significant influence over the

  reporting entity; or (c) key management personnel of the

  reporting entity or of the parent of the reporting entity.

  (2) Suatu entitas berelasi dengan entitas pelapor

  jika memenuhi salah satu hal berikut: (a) Entitas dan entitas pelapor adalah

  anggota dari kelompok usaha yang sama (artinya entitas induk, entitas anak, dan entitas anak berikutnya terkait dengan entitas lain);

  (2) An entity is related to the reporting entity if

  it meets one of the following: (a) The entity and the reporting entity are

  members of the same business group (i.e. a parent, subsidiaries, and entities associated with the next subsidiaries of

  another entity);

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

  (Lanjutan)

  (Continued)

  i. Transaksi dengan Pihak Berelasi (Lanjutan)

  i. Transactions with Related Parties (Continued)

  (2) Suatu entitas berelasi dengan entitas pelapor

  (2) An entity is related to the reporting entity if

  jika memenuhi salah satu hal berikut:

  it meets one of the following: (Continued)

  (Lanjutan)

  (b) satu entitas adalah entitas asosiasi atau

  (b) one entity is an associate or joint

  ventura bersama dari entitas lain (atau

  venture of the other entity (or an

  entitas asosiasi atau ventura bersama

  associate or joint venture of a member

  yang merupakan anggota suatu kelompok

  of a business group, which the other

  usaha, yang mana entitas lain tersebut

  entity is a member;

  adalah anggotanya; (c) kedua entitas tersebut adalah ventura

  (c) both entities are joint ventures of the

  bersama dari pihak ketiga yang sama;

  same third party;

  (d) satu entitas adalah ventura bersama dari

  (d) one entity is a joint venture of a third

  entitas ketiga dan entitas yang lain

  entity and the other entity is an

  adalah entitas asosiasi dari entitas

  associate of the third entity;

  ketiga; (e) entitas tersebut adalah suatu program

  (e) the entity has a post-employment

  imbalan pasca-kerja untuk imbalan kerja

  benefits plan for the benefit of

  dari salah satu entitas pelapor atau

  employees of either the reporting entity

  entitas yang terkait dengan entitas

  or an entity related to the reporting

  pelapor. Jika entitas pelapor adalah

  entity. If the reporting entity is itself

  entitas yang menyelenggarakan program

  such a plan, the sponsoring employers

  tersebut, maka entitas sponsor juga

  are also related entities to the reporting

  berelasi dengan entitas pelapor;

  entity; (e) the entity has a post-employment benefits plan for the benefit of employees of either the reporting entity or an entity related to the reporting entity. If the reporting entity is itself such a plan, the sponsoring employers are also related entities to the reporting entity;

  (f) entitas

  (f) entities controlled or jointly controlled

  dikendalikan bersama oleh orang yang

  by a person identified in paragraph 1.

  diidentifikasikan dalam paragraf 1. (g) orang yang diidentifikasi dalam sub-

  (g) person identified in subparagraph (1) (a)

  paragraf (1) (a) memiliki pengaruh

  has significant influence over the entity

  signifikan atas entitas atau personil

  or the key management personnel of the

  manajemen kunci entitas (atau entitas

  entity (or the entity's parent entity).

  induk dari entitas). (h) entitas, atau anggota dari kelompok yang

  (h) the entity, or any member of a group of

  mana entitas merupakan bagian dari

  which it is a part, provides key

  kelompok tersebut, menyediakan jasa

  management personnel services to the

  personal manajemen kunci kepada

  reporting entity or to the parent of the

  entitas pelapor atau kepada entitas induk

  reporting entity.

  dari entitas pelapor.

  Seluruh transaksi dan saldo yang material dengan

  All significant transactions and balances with

  pihak-pihak berelasi diungkapkan dalam catatan

  related parties are disclosed in the relevant notes

  atas laporan keuangan konsolidasian yang relevan.

  to the consolidated financial statements herein.

  j.

  Persediaan

  j. Inventories

  Persediaan dinyatakan sebesar nilai yang terendah

  Inventories are stated at the lower of cost or net

  antara biaya perolehan atau nilai realisasi bersih

  realizable value. Cost is determined using the

  (the lower of cost or net realizable value). Biaya

  weighted-average method. Provision for inventory

  perolehan ditentukan dengan menggunakan metode

  obsolescence, if necessary, is based on a review of

  rata-rata tertimbang (weighted-average method).

  the status of physical inventories at the end of the

  Penyisihan untuk persediaan usang, jika diperlukan,

  year. Cost comprises all costs of purchase, costs of

  ditentukan berdasarkan hasil penelaahan terhadap

  conversion and other costs incurred in bringing the

  keadaan fisik persediaan pada akhir tahun. Biaya

  inventories to their present location and condition.

  perolehan terdiri dari biaya pembelian, biaya konversi dan biaya lainnya yang timbul sampai persediaan berada dalam kondisi dan lokasi saat ini.

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

  Persediaan (Lanjutan)

  j. Inventories (Continued)

  Nilai realisasi bersih (net realizable value) adalah

  Net realizable value is the estimated selling price

  estimasi harga jual di dalam kegiatan usaha

  in the ordinary course of business, less applicable

  dikurangi beban-beban penjualan variabel yang

  variable selling expenses and less cost to complete

  diterapkan dan dikurangi biaya untuk menyelesaikan

  for work-in-process inventories.

  persediaan barang-dalam-proses.

  k. Aset Tetap k. Property, Plant and Equipment

  Grup menggunakan model biaya sebagai kebijakan

  The Group uses cost model as the accounting

  akuntansi pengukuran aset tetapnya. Aset tetap

  policy for the measurement of its property, plant

  dinyatakan sebesar biaya perolehan dikurangi

  and equipment. Property, plant and equipment are

  akumulasi penyusutan, termasuk penurunan nilai,

  stated at cost less accumulated depreciation,

  bila ada.

  including impairment losses, if any.

  Depreciation is computed using the double-

  saldo menurun ganda (double-declining-balance

  declining-balance method, except for buildings

  which are computed using the straight-line

  menggunakan metode garis lurus (straight-line

  method, based on their estimated useful lives, as

  method), dengan taksiran umur ekonomis, seperti

  Bangunan dan prasarana

  4 – 20

  Buildings and infrastructures

  Mesin dan perlengkapan

  4–8

  Machineries and equipments

  Peralatan kantor

  4–8

  Office equipments

  Biaya-biaya setelah perolehan awal diakui sebagai

  Subsequent costs are included in the assets’s

  bagian dari nilai tercatat aset tetap atau sebagai

  carrying amount or recognized as a separate asset,

  aset yang terpisah apabila ada kemungkinan

  as appropriate, only when it is probable that

  manfaat ekonomis sehubungan dengan aset tersebut

  future economic benefits will flow to the Group

  di masa mendatang akan mengalir ke Grup dan

  associated with the assets and the costs can be

  biayanya dapat diukur secara andal. Beban

  measured reliably. Repair and maintenance

  perbaikan dan pemeliharaan rutin dibebankan pada

  expenses are taken to profit or loss during the

  laba rugi pada saat terjadinya. Aset tetap yang

  financial year in which they are incurred. When

  sudah tidak dipergunakan lagi atau dijual, nilai

  assets are retired or otherwise disposed of, their

  tercatat dan akumulasi penyusutannya dikeluarkan

  carrying values and the related accumulated

  dari akun aset tetap yang bersangkutan dan

  depreciation are removed from the accounts and

  laba atau rugi yang terjadi disajikan dalam laporan

  any resulting gain or loss is reflected in the

  laba rugi dan penghasilan komprehensif lain

  consolidated statements of profit or loss and other

  konsolidasian pada tahun berjalan.

  comprehensive income for the current year.

  Tanah dinyatakan sebesar biaya perolehan dan

  Land is stated at cost and is not depreciated. Any

  tidak disusutkan. Biaya-biaya tertentu sehubungan

  other certain costs in connection with the

  dengan perolehan atau perpanjangan hak atas tanah

  acquisition or renewal of the land right are

  ditangguhkan dan diamortisasi sepanjang periode

  deferred and are amortized over the term of the

  hak atas tanah atau umur ekonomis tanah, mana

  land right or its useful life, which ever is shorter.

  yang lebih pendek.

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

  (Lanjutan)

  (Continued)

  k. Aset Tetap (Lanjutan) k. Property, Plant and Equipment (Continued)

  Ketika terdapat indikasi penurunan nilai, nilai

  When an indication of impairment exists, the

  tercatat aset segera diturunkan sebesar jumlah

  carrying amount is written down immediately to

  yang dapat terpulihkan apabila nilai tercatat aset

  its recoverable amount if the asset’s carrying

  lebih besar dari pada estimasi jumlah yang

  amount is greater than its estimated recoverable

  terpulihkan (Catatan 2o).

  amount (Note 2o).

  Aset dalam penyelesaian dinyatakan sebesar biaya

  Construction-in-progress is stated at cost.

  perolehan. Akumulasi biaya perolehan akan

  Accumulated cost will be reclassified to the

  dipindahkan ke masing-masing akun “Aset Tetap”

  appropriate “Property, Plant and Equipment”

  yang bersangkutan pada saat aset tersebut selesai

  account when the construction is completed and

  dikerjakan dan siap digunakan. Penyusutan

  the asset is ready for its intended use.

  terhadap aset dalam konstruksi tidak dimulai

  Depreciation on assets under construction does not

  sampai aset tersebut selesai dibangun dan tersedia

  commence until they are complete and available

  untuk digunakan.

  for use.

  l. M e r e k

  l. Trademark

  Merek yang diperoleh secara terpisah disajikan

  Separately acquired trademarks are shown at

  sebesar harga perolehan. Merek yang diperoleh

  historical cost. Trademarks acquired in a business

  sebagai bagian dari kombinasi bisnis diakui sebesar

  combination are recognized at fair value at the

  nilai wajar pada tanggal perolehannya. Merek

  acquisition date. Trademarks have a finite useful

  memiliki masa manfaat yang terbatas dan dicatat

  life and are carried at cost less accumulated

  sebesar harga perolehan dikurangi akumulasi

  amortization and impairment losses. Amortization

  amortisasi dan kerugian penurunan nilai. Amortisasi

  is calculated using the straight-line method to

  dihitung dengan menggunakan metode garis lurus

  allocate the cost of trademarks over their

  untuk mengalokasikan harga perolehan merek

  estimated useful lives of 20 years.

  selama estimasi masa manfaatnya 20 tahun.

  m. Transaksi dan Saldo Dalam Mata Uang Asing

  m. Foreign Currency Transactions and Balances

  Transaksi di dalam mata uang asing diukur dengan

  Transactions in foreign currencies are measured in

  mata uang fungsional Grup dan dicatat pada tanggal

  the functional currency of the Group and recorded

  awal pengakuan mata uang fungsional pada kurs

  on initial recognition in the functional currency at

  nilai tukar yang mendekati tanggal transaksi. Aset

  exchange rates prevailing at the transaction dates.

  dan liabilitas moneter dinyatakan dalam mata uang

  Monetary assets and liabilities denominated in

  asing yang dijabarkan pada kurs nilai tukar pada

  foreign currencies are translated at the the

  akhir periode pelaporan. Item-item non-moneter

  exchange rate at the end of the reporting period.

  yang diukur pada biaya historis di dalam mata uang

  Non-monetary items that are measured in terms of

  asing dijabarkan dengan menggunakan kurs nilai

  historical cost in a foreign currency are translated

  tukar pada tanggal transaksi awal. Item-item non-

  using the exchange rates as at the dates of the

  moneter diukur pada nilai wajar di dalam mata

  initial transactions. Non-monetary items measured

  uang asing yang dijabarkan dengan menggunakan

  at fair value in a foreign currency are translated

  kurs nilai tukar pada tanggal di mana nilai wajar

  using the exchange rates at the date when the fair

  ditentukan.

  value was determined.

  Selisih nilai tukar yang timbul dari penyelesaian

  Exchange differences arising on the settlement of

  item-item moneter atau pada item-item non

  monetary items or on translating monetary items

  moneter yang dijabarkan atau pada item-item

  at the end of the reporting period are recognized

  moneter yang dijabarkan pada akhir periode

  in the consolidated statements of comprehensive

  pelaporan, diakui di dalam laporan laba rugi

  income.

  komprehensif konsolidasian.

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

  (Lanjutan)

  (Continued)

  m. Transaksi dan Saldo Dalam Mata Uang Asing

  m. Foreign Currency Transactions and Balances

  (Lanjutan)

  (Continued)

  Pembukuan entitas anak tertentu dilakukan di

  The book of accounts of certain subsidiaries are

  dalam mata uang selain Rupiah. Untuk tujuan

  maintained in currency other than Rupiah.

  penyajian laporan keuangan konsolidasian, aset

  For presentation purposes of the consolidated

  dan liabilitas entitas anak pada tanggal laporan

  financial statements, assets and liabilities of

  posisi keuangan konsolidasian, dijabarkan ke

  the subsidiaries at consolidated statements of

  dalam mata uang Rupiah dengan menggunakan

  financial position date are translated into Rupiah

  kurs nilai tukar pada tanggal laporan posisi

  using the exchange rates at consolidated

  keuangan konsolidasian, sementara laporan

  statements of financial position date, while

  laba rugi komprehensif dijabarkan dengan

  statements of revenues and expenses are

  menggunakan kurs nilai tukar periode yang

  translated at the average rates of exchange for

  bersangkutan. Hasil penyesuaian penjabaran

  the period. Resulting translation adjustments are

  ditampilkan sebagai bagian ekuitas sebagai

  shown as part of equity as “Foreign currency

  “Cadangan penjabaran mata uang asing”.

  translation reserves”.

  Pada tanggal 31 Desember 2017 dan 2016, kurs

  As of 31 December 2017 and 2016, the published

  yang digunakan masing-masing adalah sebagai

  exchange rates used were as follows:

  Dolar Amerika Serikat (USD)

  US Dollar (USD)

  Dolar Singapura (SGD)

  Singapore Dollar (SGD)

  n. S e w a

  n. L e a s e s

  Grup Sebagai Lessee

  The Group as Lessee

  i. Dalam sewa pembiayaan Grup sebagai lessee

  i. Under a finance lease, the Group, as lessee,

  mengakui aset dan liabilitas dalam laporan

  recognizes assets and liabilities in the

  posisi keuangan konsolidasian pada awal masa

  consolidated statements of financial position at

  sewa, sebesar nilai wajar aset sewaan atau

  amounts equal to the fair value of the leased

  sebesar nilai kini dari pembayaran sewa

  property, plant and equipment or, if lower, the

  minimum, jika nilai kini lebih rendah dari nilai

  present value of the minimum lease payments,

  wajar. Pembayaran sewa dipisahkan antara

  each determined at the inception of the lease.

  bagian yang merupakan biaya keuangan dan

  The finance charge is allocated to each period

  bagian yang merupakan pelunasan liabilitas

  during the lease term so as to produce a

  sewa. Beban keuangan dialokasikan pada

  constant periodic rate of interest on the

  setiap periode selama masa sewa, sehingga

  remaining balance of the liability. Contingent

  menghasilkan tingkat suku bunga periodik

  rents are charged as expenses in the periods in

  yang konstan atas saldo liabilitas. Rental

  which they are incurred. Finance charges are

  reflected in the consolidated statements of

  terjadinya. Biaya keuangan dicatat dalam

  comprehensive income.

  laporan laba rugi komprehensif konsolidasian.

  Aset sewaan (disajikan sebagai bagian “Aset

  Capitalized leased asset (presented as a part of

  Tetap”) disusutkan selama jangka waktu yang

  the “Property, Plant and Equipment”) is

  lebih pendek antara umur manfaat aset

  depreciated over the shorter of the estimated

  sewaan dan periode masa sewa, jika tidak

  useful life of the asset and the lease term, if

  ada kepastian yang memadai bahwa Grup

  there is no reasonable certainty that the Group

  akan mendapatkan hak kepemilikan pada

  will obtain ownership by the end of the lease

  akhir masa sewa.

  term.

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

  (Lanjutan)

  (Continued)

  n. S e w a (Lanjutan)

  n. L e a s e s (Continued)

  Grup Sebagai Lessee (Lanjutan)

  The Group as Lessee (Continued)

  ii. Dalam

  ii. Under an operating lease, the Group

  pembayaran sewa sebagai beban dengan metode

  recognizes lease payments as an expense on a

  garis lurus (straight-line method) selama masa

  straight-line method over the lease term.

  sewa.

  Grup Sebagai Lessor

  The Group as Lessor

  i. Dalam sewa pembiayaan, Grup mengakui

  i. Under a finance lease, the Group recognizes

  aset berupa piutang sewa pembiayaan di laporan

  assets held under a finance lease in its

  posisi keuangan konsolidasian sebesar jumlah

  consolidated statements of financial position

  yang sama dengan investasi sewa neto.

  and presents them as a receivable at an

  amount equal to the net investment in the

  sebagai pembayaran pokok dan pendapatan

  lease. Lease payment receivable is treated as

  repayment of principal and finance income.

  pembiayaan didasarkan pada suatu pola yang

  The recognition of finance income is based on

  mencerminkan suatu tingkat pengembalian

  a pattern reflecting a constant periodic rate

  periodik yang konstan atas investasi bersih

  of return on the Group’s net investment in

  sebagai lessor dalam sewa pembiayaan.

  the finance lease.

  ii. Dalam sewa operasi, Grup mengakui aset untuk

  ii. Under an operating lease, the Group presents

  sewa operasi di laporan posisi keuangan

  assets subject to operating leases in its

  konsolidasian sesuai sifat aset tersebut. Biaya

  consolidated statements of financial position

  langsung awal sehubungan proses negosiasi sewa

  according to the nature of the asset. Initial

  operasi ditambahkan ke jumlah tercatat dari

  direct costs incurred in negotiating an

  aset sewaan dan diakui sebagai beban selama

  operating lease are added to the carrying

  masa sewa dengan dasar yang sama dengan

  amount of the leased asset and recognized

  pendapatan sewa. Rental kontinjen, apabila

  over the lease term on the same basis as

  ada, diakui sebagai pendapatan pada periode

  rental income. Contingent rents, if any, are

  terjadinya. Pendapatan sewa operasi diakui

  recognized as revenue in the periods in which

  sebagai pendapatan atas dasar garis lurus

  they are earned. Lease income from

  selama masa sewa.

  operating leases is recognized as income on a straight-line method over the lease term.

  o. Penurunan Nilai Aset Non-Keuangan

  o. Impairment of Non-Financial Assets

  Grup menilai pada tiap tanggal pelaporan apakah

  The Group assesses at each reporting date

  terdapat indikasi penurunan nilai pada aset.

  whether there is any indication that an asset may

  Apabila terdapat indikasi penurunan nilai, atau

  be impaired. If any such indication exists, or

  ketika penilaian penurunan nilai bagi aset secara

  when annual impairment assessment for an asset

  tahunan disyaratkan, Grup membuat estimasi nilai

  is required, the Group makes an estimate of the

  terpulihkan aset.

  asset's recoverable amount.

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

  (Lanjutan)

  (Continued)

  o. Penurunan Nilai Aset Non-Keuangan (Lanjutan)

  o. Impairment of Non-Financial Assets (Continued)

  An asset's recoverable amount is the higher of an

  dibandingkan nilai wajar dikurangi biaya pelepasan

  asset's or cash-generating unit's fair value less

  aset atau unit penghasil kas dan nilai pakainya dan

  costs of disposal and its value in use and is

  ditentukan sebagai suatu aset individual, kecuali

  determined for an individual asset, unless the

  aset tersebut tidak menghasilkan arus kas masuk

  asset does not generate cash inflows that are

  yang sebagian besar independen dari aset atau

  largely independent of those from other assets or

  kelompok aset lain. Nilai pakai ditentukan dengan

  group of assets. Value-in-use is determined by

  mengestimasi arus kas masuk dan keluar masa

  estimating the future cash inflows and outflows

  depan dari pemakaian aset dan dari pelepasan

  to be derived from continuing use of the asset

  akhirnya menggunakan suku bunga diskon sebelum

  and from its ultimate disposal, using a pre-tax

  pajak yang mencerminkan penilaian pasar kini

  discount rate that reflects current market

  terhadap nilai waktu uang dan risiko spesifik aset.

  assessments of the time value of money and the risks specific to the asset.

  Where the carrying amount of an asset exceeds

  terpulihkannya, maka aset tersebut dicatat sebesar

  its recoverable amount, the asset is written down

  nilai terpulihkan. Kerugian penurunan nilai diakui di

  to its recoverable amount. Impairment losses are

  dalam laporan laba rugi kecuali aset yang relevan

  recognized in profit or loss unless the relevant

  dinilai pada jumlah yang direvaluasi, yang dalam

  asset is carried at a revalued amount, in which

  hal ini kerugian penurunan nilai diperlakukan

  case the impairment loss is treated as a

  sebagai penurunan revaluasi.

  revaluation decrease.

  Suatu penilaian dilakukan pada setiap tanggal

  An assessment is made at each reporting date as to

  pelaporan sebagaimana apabila terdapat segala

  whether there is any indication that previously

  indikasi bahwa kerugian penurunan nilai yang diakui

  recognized impairment losses may no longer exist

  sebelumnya sudah tidak ada lagi atau mengalami

  or may have decreased. A previously recognized

  penurunan. Suatu kerugian penurunan nilai

  impairment loss is reversed only if there has been

  yang diakui sebelumnya, dibalikkan nilainya jika

  a change in the estimates used to determine the

  terdapat perubahan estimasi yang digunakan untuk

  asset's recoverable amount since the last

  menentukan nilai terpulihkan aset sejak pengakuan

  impairment loss was recognized. If that is the

  terakhir kerugian penurunan nilai. Apabila

  case, the carrying amount of the asset is increased

  demikian kondisinya, nilai tercatat aset meningkat

  to its recoverable amount. That increase cannot

  pada jumlah terpulihkannya. Kenaikan tersebut

  exceed the carrying amount that would have

  tidak dapat melebihi nilai tercatat yang telah

  been determined, net of depreciation, had no

  ditentukan, penyusutan bersih, tidak ada kerugian

  impairment loss been recognized previously. Such

  reversal is recognized in profit or loss unless the

  Pembalikkan nilai tersebut diakui di dalam laba rugi

  asset is measured at revalued amount, in which

  kecuali aset tersebut diukur pada jumlah

  case the reversal is treated as a revaluation

  revaluasian, yang dalam hal ini diperlakukan

  increase.

  sebagai kenaikan revaluasi.

  p. Liabilitas Diestimasi Imbalan Kerja Karyawan

  p. Estimated Liabilities for Employee Benefits

  Program Manfaat Pasti

  Defined Benefit Plan

  Grup mengakui liabilitas imbalan kerja yang didanai

  The Group recognized a funded employee benefits

  sesuai dengan Undang-Undang Ketenagakerjaan

  liability in accordance with Labor Law No. 132003

  No. 132003 tanggal 25 Maret 2003 (“Undang-

  dated 25 March 2003 (the “Law”).

  Undang”).

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

  (Lanjutan)

  (Continued)

  p. Liabilitas Diestimasi Imbalan Kerja Karyawan

  p. Estimated Liabilities for Employee Benefits

  (Lanjutan)

  (Continued)

  Program Manfaat Pasti (Lanjutan)

  Defined Benefit Plan (Continued)

  Liabilitas imbalan pasti dihitung oleh aktuaris Defined benefit obligation is calculated by an

  independent actuary using the “Projected-Unit-

  “Projected-Unit-Credit”. Liabilitas yang diakui di

  Credit” method. The liabilities recognized in the

  laporan posisi keuangan konsolidasian adalah nilai

  consolidated statements of financial position are

  kini liabilitas imbalan pasti dikurangi dengan nilai

  the present value of the defined benefit

  wajar aset program pada tanggal laporan posisi

  obligations reduced by the fair value of plan assets

  keuangan konsolidasian.

  as at the consolidated statements of financial position date.

  Biaya imbalan pasti terdiri dari:

  Defined benefit cost comprises the following:

  - Biaya jasa kini diakui dalam laba rugi

  - Current service cost recognized in profit or loss

  - Biaya jasa lalu dan keuntungan atau kerugian

  - Past service costs and gains or losses on

  atas penyelesaian diakui dalam laba rugi

  settlement recognized in profit or loss

  - Bunga bersih atas liabilitas atau aset imbalan

  - Net interest on the net defined benefit liability

  pasti neto diakui dalam laba rugi

  or asset recognized in profit or loss

  - Pengukuran kembali liabilitas atau aset

  - Remeasurements of net defined benefit liability

  imbalan pasti neto diakui dalam penghasilan

  or asset recognized in other comprehensive

  komprehensif lain

  income

  Biaya jasa lalu diakui sebagai beban pada tanggal Past service costs is recognized as an expense at the

  yang lebih awal antara ketika amandemen atau

  earlier of the date when the plan amendment or

  kurtailmen program terjadi dan ketika Grup

  curtailment occurs and when the Group recognizes

  mengakui biaya restrukturisasi terkait atau

  related restructuring costs or termination benefits.

  pesangon.

  Bunga neto atas liabilitas imbalan pasti neto Net interest on the net defined benefit liabilities is

  ditentukan dengan mengalikan liabilitas imbalan

  determined by multiplying the net defined benefit

  pasti neto dengan tingkat diskonto berdasarkan

  liability by discount rate based on government bond

  tingkat bunga obligasi pemerintah.

  interest rates.

  Pengukuran kembali liabilitas atau aset imbalan Remeasurements of the net defined benefit

  kerja pasti neto yang diakui sebagai penghasilan

  liability to be recognised in other comprehensive

  komprehensif lain, terdiri dari:

  income, comprise:

  - keutungan dan kerugian aktuaria

  - actuarial gains and losses

  - Imbal hasil atas aset program, tidak termasuk

  - return on plan assets, excluding amounts

  jumlah yang dimasukkan dalam bunga neto

  included in net interest in the net defined

  atas liabilitas (aset) imbalan pasti neto, dan

  benefit liability, and

  - Setiap perubahan dampak batas atas aset,

  - any change in the effect of the asset ceiling

  tidak termasuk jumlah yang dimasukkan dalam

  excluding amounts included in net interest on

  bunga neto atas liabilitas (aset) imbalan pasti

  the net defined benefit liability.

  neto.

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

  (Lanjutan)

  (Continued)

  q. Modal Saham

  q. Share Capital

  Kenaikan biaya yang dapat diatribusikan terhadap

  Incremental costs directly attributable to the issue

  penerbitan saham biasa atau opsi biasa, setelah

  of ordinary shares or options, net of tax effects,

  dikurangi pajak, diakui sebagai pengurang ekuitas.

  are recognized as a deduction from the equity.

  Apabila modal saham Perusahaan dibeli kembali,

  Where

  the

  Company’s

  equity share are

  maka imbalan yang dibayarkan, termasuk semua

  repurchased, the consideration paid, including any

  kenaikan biaya yang dapat diatribusikan langsung

  directly attributable incremental costs (net of any

  (setelah dikurangi pajak), dikurangi dari ekuitas

  tax effects) is deducted from equity attributable

  yang dapat diatribusikan terhadap pemegang

  to the Company’s equity holders until the shares

  ekuitas Perusahaan sampai saham tersebut

  are cancelled or reissued. Repurchased shares are

  dibatalkan atau diterbitkan kembali. Pembelian

  classified as treasury shares and are presented

  kembali saham diklasifikasikan sebagai saham

  in the treasury share reserve. When treasury

  tresuri dan disajikan di dalam cadangan saham

  shares are sold and subsequently reissued, any

  tresuri. Apabila saham tresuri dijual dan

  consideration received is recognized as an increase

  selanjutnya diterbitkan kembali, semua imbalan

  in equity and the resulting surplus or deficit on the

  yang diterima, diakui sebagai kenaikan di dalam

  transaction is presented within share premium.

  ekuitas dan surplus dan defisit yang timbul pada transaksi tersebut disajikan sebagai agio saham.

  r. Pengakuan Pendapatan dan Beban

  r. Revenue and Expenses Recognition

  Pendapatan dari penjualan yang timbul dari

  Revenue from sales arising from physical delivery

  pengiriman fisik produk-produk Grup diakui

  of the Group’s products are recognized when the

  bila risiko dan manfaat yang signifikan telah

  significant risks and rewards of ownership of the

  dipindahkan kepada pembeli, bersamaan waktu nya

  goods have passed to the buyer, which generally

  dengan pengiriman dan penerimaannya dikurangi

  coincide with their delivery and acceptance taking

  jumlah diskon dagang dan rabat volume yang

  into account trade discounts and rebates allowed.

  diperbolehkan. Retur penjualan diakui ketika

  Sales returns are recognized when products are

  produk dikembalikan atau ketika retur dapat

  returned or when it can reliably estimated based

  diestimasi secara andal berdasarkan pengalaman

  on previous experience.

  sebelumnya.

  Beban diakui sesuai dengan masa manfaatnya

  Expenses are recognized in the period incurred

  (accrual basis).

  (accrual basis).

  s. Pajak Penghasilan

  s. Income Tax

  Pajak penghasilan badan dihitung untuk setiap Grup

  Corporate income tax is determined on a per legal

  sebagai badan hukum yang berdiri sendiri.

  entity basis.

  Beban pajak tahun kini ditetapkan berdasarkan

  Current tax expense is provided based on

  taksiran penghasilan kena pajak untuk periode

  estimated taxable income tax for the period.

  berjalan. Aset dan liabilitas pajak tangguhan diakui

  Deferred tax assets and liabilities are recognized

  atas seluruh perbedaan temporer antara pencatatan

  for all temporary differences between the

  komersial dan dasar pengenaan pajak aset dan

  financial and the tax bases of assets and liabilities

  liabilitas pada setiap tanggal pelaporan terutama

  at each reporting date that appeared from

  yang timbul dari penyusutan, rugi kurs dan

  depreciation, loss on foreign exchange and

  penyisihan. Manfaat pajak di masa yang akan

  allowance. Future tax benefits, such as the carry-

  datang, seperti saldo rugi fiskal yang belum

  forward of unused tax losses, are also recognized

  digunakan juga diakui apabila besar kemungkinan

  to the extent that realization of such benefits is

  manfaat pajak tersebut dapat direalisasi.

  probable.

  Aset pajak tangguhan yang berhubungan dengan

  Deferred tax assets relating to the carry-forward

  saldo kerugian pajak yang belum digunakan diakui

  of unused tax losses are recognized to the extent

  apabila besar kemungkinan bahwa jumlah kerugian

  that it is probable that future taxable income will

  pajak pada masa mendatang akan memadai untuk

  be available against which the unused tax losses

  dikompensasi dengan saldo kerugian pajak yang

  can be utilized.

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

  (Lanjutan)

  (Continued)

  s. Pajak Penghasilan (Lanjutan)

  s. Income Tax (Continued)

  Jumlah tercatat aset pajak tangguhan ditelaah pada

  Carrying value of deferred tax assets are reviewed

  setiap akhir tanggal periode pelaporan. Nilai

  every end of period reporting date. Carrying value

  tercatat aset pajak tangguhan tersebut diturunkan

  of deferred tax assets are impaired if taxable

  apabila laba fiskal mungkin tidak memadai untuk

  income may not be appropriate to compensate

  mengkompensasi sebagian atau semua aset pajak

  some or all of deferred tax assets.

  tangguhan.

  Aset dan liabilitas pajak tangguhan diukur

  Deferred tax assets and deferred tax liabilities are

  berdasarkan tarif pajak yang diharapkan akan

  measured based on tax rates that are expected to

  diberlakukan pada saat aset direalisasikan atau

  be applied when the assets are realized or the

  liabilities are settled based on tax regulations that

  perpajakan yang berlaku atau yang telah

  have been enacted or substantially prevailing at

  secara substansial berlaku pada setiap akhir

  end of period reporting date. Allowance andor

  tanggal periode pelaporan. Penyisihan danatau

  readjustment of all temporary differences during

  penyesuaian kembali dari seluruh perbedaan

  the period are recognized as income or expense

  temporer selama periode berjalan diakui sebagai

  and included in profit or loss for the period.

  penghasilan atau beban dan termasuk dalam laba rugi bersih periode berjalan.

  Koreksi terhadap liabilitas perpajakan diakui

  Amendments to taxation obligations are recorded

  saat Surat Ketetapan Pajak diterima atau jika

  when an Tax Assessment Letter is received or, if

  mengajukan keberatan, pada saat keputusan atas

  appealed against, when the results of the appeal

  keberatan tersebut telah ditetapkan.

  are determined.

  t. Laba Per Saham

  t. Earnings Per Share

  Laba per saham dasar dihitung dengan membagi

  Basic earnings per share are computed by dividing

  laba neto yang dapat diatribusikan kepada pemilik

  profit attributable to owners of the parent

  entitas induk dengan jumlah rata-rata tertimbang

  company by the weighted average number of

  saham yang beredar pada tahun yang bersangkutan.

  shares outstanding during the year.

  Laba per saham dilusian dihitung dengan membagi

  Diluted earnings per share are computed by

  laba neto yang dapat diatribusikan kepada pemilik

  dividing profit attributable to owners of the

  entitas induk dengan jumlah rata-rata tertimbang

  parent company by the weighted average number

  saham yang beredar setelah disesuaikan dengan

  of shares outstanding as adjusted for the effects

  efek berpotensi saham biasa yang sifatnya dilutif.

  of all potential dilution.

  u. Provisi

  u. Provisions

  Provisi diakui ketika Grup memiliki kewajiban legal

  Provisions are recognized when the Group has a

  maupun konstruktif sebagai hasil peristiwa lalu,

  legal or constructive obligation as a result of past

  yaitu kemungkinan besar arus keluar sumber

  events, it is more likely than not that an outflow

  daya ekonomi diperlukan untuk menyelesaikan

  of resources will be required to settle the

  kewajiban dan suatu estimasi terhadap jumlah

  obligation and a reliable estimate of the amount

  dapat dilakukan.

  can be made.

  Provisi direviu pada akhir tiap periode pelaporan

  Provisions are reviewed at the end of each

  dan disesuaikan untuk mencerminkan estimasi

  reporting period and adjusted to reflect the

  terbaik. Apabila tidak ada lagi kemungkinan arus

  current best estimate. If it is no longer probable

  keluar sumber daya ekonomi diperlukan untuk

  that an outflow of economic resources will be

  menyelesaikan kewajiban, maka provisi tersebut

  required to settle the obligation, the provision is

  dicadangkan.

  reversed.

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

  (Lanjutan)

  (Continued)

  u. Provisi (Lanjutan)

  u. Provisions (Continued)

  Apabila dampak nilai waktu uang adalah material,

  If the effect of the time value of money is material,

  maka provisi didiskontokan dengan menggunakan

  provisions are discounted using a current pre-tax

  tarif sebelum pajak, jika lebih tepat, untuk

  rate that reflects, where appropriate, the risk

  mencerminkan risiko spesifik liabilitas. Ketika

  specific to the liability. When discounting is used,

  pendiskontoan digunakan, kenaikan provisi karena

  the increase in the provision due to the passage of

  berlalunya waktu diakui sebagai beban keuangan.

  time is recognized as a finance cost.

  v. Kontinjensi

  v. Contingencies

  Liabilitas kontijensi tidak diakui di dalam laporan

  Contingent liabilities are not recognized in the

  keuangan konsolidasian. Liabilitas kontinjensi

  consolidated financial statements. They are

  diungkapkan di dalam catatan atas laporan

  disclosed in the notes to consolidated financial

  keuangan konsolidasian kecuali kemungkinan arus

  statements unless the possibility of an outflow of

  keluar sumber daya ekonomi adalah kecil.

  resources embodying economic benefits is remote.

  Aset kontinjensi tidak diakui di dalam laporan

  Contingent assets are not recognized in the

  keuangan konsolidasian, namun diungkapkan

  consolidated financial statements but are disclosed

  di dalam catatan atas laporan keuangan

  in the notes to consolidated financial statements

  konsolidasian jika terdapat kemungkinan suatu

  when an inflow of economic benefits is probable.

  arus masuk manfaat ekonomis mengalir ke dalam entitas.

  w. Peristiwa Setelah Periode Pelaporan

  w. Events After the Reporting Period

  Peristiwa setelah periode pelaporan menyajikan

  Events after the reporting period that provide

  bukti kondisi yang terjadi pada akhir periode

  evidence of conditions that existed at the end of the

  pelaporan (peristiwa penyesuai) yang dicerminkan

  reporting period (adjusting events) are reflected in

  di dalam laporan keuangan konsolidasian.

  the consolidated financial statements.

  Peristiwa setelah periode pelaporan yang bukan

  Events after the reporting period that are not

  merupakan peristiwa penyesuaian, diungkapkan

  adjusting events are disclosed in the notes to

  di dalam catatan atas laporan keuangan

  consolidated financial statements when material.

  konsolidasian bila material.

  x. Informasi Segmen

  x. Segment Information

  Segmen adalah komponen yang dapat dibedakan

  A segment is a distinguishable component of the

  dari Grup yang terlibat baik dalam menyediakan

  Group that is engaged either in providing certain

  produk-produk tertentu (segmen usaha), atau

  products (business segment), or in providing

  dalam menyediakan produk dalam lingkungan

  products within a particular economic environment

  ekonomi tertentu (segmen geografis), yang

  (geographical segment), which is subject to risks and

  memiliki risiko dan imbalan yang berbeda dari

  rewards that are different from those of other

  segmen lainnya.

  segments.

  Pendapatan, beban, hasil, aset dan liabilitas

  Segment revenue, expenses, results, assets and

  liabilities include items directly attributable to

  diatribusikan secara langsung kepada suatu

  a segment as well as those that can be allocated

  segmen serta hal-hal yang dapat dialokasikan

  on a reasonable basis to that segment. They

  dengan dasar yang memadai untuk segmen

  are determined before intra-group balances

  tersebut. Segmen ditentukan sebelum saldo dan

  and transactions are eliminated as a part of

  transaksi antar Grup dieliminasi sebagai bagian

  consolidation process.

  dari proses konsolidasi.

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG SIGNIFIKAN 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

  (Lanjutan)

  (Continued)

  x. Informasi Segmen (Lanjutan)

  x. Segment Information (Continued)

  Segmen operasi dilaporkan dengan cara yang

  Operating segments are reported in a consistent

  konsisten dengan pelaporan internal yang

  manner with the internal reporting provided to the

  chief operating decision-maker. The chief

  operasional. Pengambil keputusan operasional

  operating decision-maker is responsible for

  bertanggung jawab untuk mengalokasikan sumber

  allocating resources, assessing performance of the

  daya, menilai kinerja segmen operasi dan

  operating segments and making strategic decisions.

  membuat keputusan strategis.

  3. PERTIMBANGAN, ESTIMASI DAN ASUMSI AKUNTANSI

  3. SIGNIFICANT ACCOUNTING JUDGMENTS, ESTIMATES

  SIGNIFIKAN

  AND ASSUMPTIONS

  Penyusunan laporan keuangan konsolidasian Grup

  The preparation of the Group’s consolidated financial

  statements requires management to make judgments,

  estimates and assumptions that affect the reported

  mempengaruhi jumlah aset dan liabilitas yang

  amounts of assets and liabilities, and the disclosure of

  dilaporkan aset dan pengungkapan liabilitas kontijensi

  contingent liabilities, at the reporting date and

  pada tanggal pelaporan serta jumlah pendapatan,

  the reported amount of revenues, expenses during

  beban selama satu tahun pelaporan. Ketidakpastian

  the reporting period. Uncertainty about these

  mengenai asumsi dan estimasi tersebut dapat

  assumptions and estimates could result in outcomes

  mengakibatkan penyesuaian material terhadap nilai

  that require a material adjustment to the carrying

  tercatat aset dan liabilitas dalam periode pelaporan

  amount of the asset and liability affected in future

  Pertimbangan berikut ini dibuat oleh manajemen

  The following judgments are made by management in

  dalam rangka penerapan kebijakan akuntansi Grup

  the process of applying the Group’s accounting

  yang memiliki pengaruh paling signifikan atas jumlah

  policies that have the most significant effects on the

  yang diakui dalam laporan keuangan konsolidasian:

  amounts recognized in the consolidated financial statements:

  Klasifikasi Aset dan Liabilitas Keuangan

  Classification of Financial Assets and Financial

  Liabilities

  Grup menetapkan klasifikasi atas aset dan liabilitas

  The Group determines the classifications of certain

  tertentu sebagai aset keuangan dan liabilitas keuangan

  assets and liabilities as financial assets and financial

  dengan pertimbangan bila definisi yang ditetapkan.

  liabilities by judging if they meet the definition set.

  Dengan demikian, aset keuangan dan liabilitas

  Accordingly, the financial assets and financial

  keuangan diakui sesuai dengan kebijakan akuntansi

  liabilities are accounted for in accordance with the

  Grup seperti diungkapkan pada Catatan 2f.

  Group’s accounting policies disclosed in Note 2f.

  Pajak Penghasilan

  Income Tax

  Pertimbangan signifikan dilakukan dalam menentukan

  Significant judgment is involved in determining the

  provisi atas pajak penghasilan badan. Terdapat

  provision for corporate income tax. There are certain

  transaksi dan perhitungan tertentu yang penentuan

  transactions and computation for which the ultimate

  pajak akhirnya adalah tidak pasti dalam kegiatan usaha

  tax determination is uncertain during the ordinary

  normal. Grup mengakui liabilitas atas pajak penghasilan

  course of business. The Group recognize liabilities for

  badan berdasarkan estimasi apakah akan terdapat

  expected corporate income tax issues based on

  tambahan pajak penghasilan badan.

  estimates of whether additional corporate income tax will be due.

  3. PERTIMBANGAN, ESTIMASI DAN ASUMSI AKUNTANSI

  3. SIGNIFICANT ACCOUNTING JUDGMENTS, ESTIMATES

  SIGNIFIKAN (Lanjutan)

  AND ASSUMPTIONS (Continued)

  Pertimbangan (Lanjutan)

  Judgments (Continued)

  Penentuan Mata Uang Fungsional

  Determination of Functional Currency

  Grup mengukur transaksi mata uang asing di dalam

  The Group measures foreign currency transactions in the

  mata uang fungsional Grup. Di dalam menentukan

  functional currency of the Group. In determining the

  mata uang fungsional Grup, pertimbangan diperlukan

  functional currencies of the Group, judgement is

  untuk menentukan mata uang yang paling

  required to determine the currency that mainly

  mempengaruhi harga jual barang dan jasa dan negara

  influences sales prices for goods and services and of the

  di mana kekuatan persaingan dan regulasi paling

  country whose competitive forces and regulations mainly

  menentukan harga jual barang dan jasa. Mata uang

  determines the sales prices of its goods and services. The

  fungsional dalam Grup ditentukan berdasarkan

  functional currency of the Group are determined based

  penilaian manajemen terhadap lingkungan ekonomi

  on management’s assessment of the economic

  di mana Grup beroperasi dan proses Grup di dalam

  environment in which the Group operates and the Group’s

  menentukan harga jual dan harga beli.

  process of determining sales and purchases prices.

  Estimasi dan Asumsi

  Estimates and Assumption

  Asumsi utama masa depan dan sumber utama

  The key assumptions concerning the future and other key

  estimasi ketidakpastian lain pada tanggal pelaporan

  sources of estimation uncertainty at the reporting date

  yang memiliki risiko signifikan bagi penyesuaian yang

  that have a significant risk of causing a material

  material terhadap nilai tercatat aset dan liabilitas

  adjustment to the carrying amounts of assets and

  untuk tahun berikutnya diungkapkan di bawah ini.

  liabilities within the next financial year are disclosed

  Grup mendasarkan asumsi dan estimasi pada

  below. The Group bases its assumptions and estimates on

  parameter yang tersedia pada saat laporan keuangan

  parameters available when the consolidated financial

  konsolidasian disusun. Asumsi dan situasi mengenai

  statements were prepared. Existing circumstances and

  perkembangan masa depan mungkin berubah akibat

  assumptions about future developments may change due

  perubahan pasar atau situasi di luar kendali Grup.

  to market changes or circumstances arising beyond the

  Perubahan tersebut dicerminkan dalam asumsi

  control of the Group. Such changes are reflected in the

  terkait pada saat terjadinya.

  assumptions when they occur.

  Penyisihan atas Penurunan Nilai Persediaan

  Allowance for Impairment of Inventory

  Penyisihan penurunan nilai pasar dan keusangan

  Allowance for decline in market values and obsolescence

  persediaan diestimasi berdasarkan fakta dan situasi

  of inventories is estimated based on the best available

  tersedia, termasuk namun tidak terbatas kepada,

  facts and circumstances, including but not limited to, the

  kondisi fisik persediaan yang dimiliki, harga jual

  inventories’ own physical conditions, their market selling

  pasar, estimasi biaya penyelesaian dan estimasi biaya

  prices, estimated costs of completion and estimated costs

  yang timbul untuk penjualan. Provisi dievaluasi

  to be incurred for their sales. The provisions are re-

  kembali dan disesuaikan jika terdapat tambahan

  evaluated and adjusted as additional information

  informasi yang mempengaruhi jumlah diestimasi.

  received affects the amount estimated.

  Nilai tercatat bersih atas persediaan milik Grup

  The net carrying amount of the Group’s inventories as

  sampai dengan 31 Desember 2017 and 2016

  of 31 December 2017 and 2016 amounted to

  sebesar Rp 103.446.614.309 and Rp 94.201.581.437.

  Rp 103,446,614,309 and Rp 94,201,581,437, respectively.

  Further details are disclosed in note 7.

  Catatan 7.

  3. PERTIMBANGAN, ESTIMASI DAN ASUMSI AKUNTANSI

  3. SIGNIFICANT ACCOUNTING JUDGMENTS, ESTIMATES

  SIGNIFIKAN (Lanjutan)

  AND ASSUMPTIONS (Continued)

  Estimasi dan Asumsi (Lanjutan)

  Masa Manfaat Aset Tetap

  Useful Lives of Property, Plant and Equipment

  Biaya perolehan aset tetap disusutkan dengan

  The costs of property, plant and equipment are

  menggunakan metode saldo menurun ganda untuk

  depreciated on a double-declining-balance method for all

  property, plant and equipment except building which uses

  menggunakan dasar garis lurus berdasarkan taksiran

  straight-line basis over their estimated useful lives.

  Management estimates the useful lives of these property,

  mengestimasi masa manfaat ekonomis aset tetap

  plant and equipment to be within 4 to 20 years. These are

  antara 4 sampai 20 tahun. Ini adalah umur yang

  common life expectancies applied in the industries where

  secara umum diharapkan dalam industri di mana

  the Group conducts its businesses. Changes in the

  Grup menjalankan bisnisnya. Perubahan tingkat

  expected level of usage and technological development

  pemakaian dan perkembangan teknologi dapat

  could impact the economic useful lives and the residual

  mempengaruhi masa manfaat ekonomis dan nilai sisa

  values of these assets, and therefore future depreciation

  aset, dan karenanya biaya penyusutan masa depan

  charges could be revised.

  mungkin direvisi.

  Nilai tercatat bersih atas aset tetap Grup pada

  The net carrying amount of the Group’s property,

  tanggal 31 Desember 2017 dan 2016 masing-masing

  plant and equipment as of 31 December 2017

  sebesar Rp 151.096.093.283 dan Rp 146.765.140.999.

  and 2016 amounted to Rp 151,096,093,283 and

  Penjelasan lebih rinci diungkapkan dalam Catatan 8.

  Rp 146,765,140,999, respectively. Further details are disclosed in Note 8.

  Masa Manfaat Merek

  Useful Life of Trademark

  Biaya perolehan merek

  diamortisasi

  dengan

  The costs of trademark are amortized on a straight-line

  menggunakan metode garis lurus berdasarkan

  basis over their estimated useful lives. Management

  taksiran masa manfaat ekonomisnya. Manajemen

  estimates the useful life of trademark to be 20 years.

  mengestimasi masa manfaat ekonomis merek sampai

  These are common life expectancies applied in the

  20 tahun. Ini adalah umur yang secara umum

  industries where the Group conducts its businesses.

  diharapkan dalam industri di mana Grup menjalankan

  Changes in the expected level of usage and technological

  bisnisnya. Perubahan tingkat pemakaian dan

  development could impact the economic useful lives and

  perkembangan teknologi dapat mempengaruhi masa

  the residual values of these assets, and therefore future

  manfaat ekonomis dan nilai sisa aset, dan karenanya

  amortization charges could be revised.

  biaya amortisasi masa depan mungkin direvisi.

  Aset Pajak Tangguhan

  Deferred Tax Assets

  Aset pajak tangguhan diakui atas seluruh rugi

  Deferred tax assets are recognized for all unused tax

  fiskal yang belum digunakan sepanjang besar

  losses to the extent that it is probable that taxable

  kemungkinannya bahwa penghasilan kena pajak akan

  profit will be available against which the losses can be

  tersedia sehingga rugi fiskal tersebut dapat

  utilised. Significant management estimate is required to

  digunakan. Estimasi signifikan oleh manajemen

  determine the amount of deferred tax assets that can

  disyaratkan dalam menentukan jumlah aset pajak

  be recognized, based upon the likely timing and level of

  tangguhan yang dapat diakui, berdasarkan saat

  future taxable profits together with future tax planning

  penggunaan dan tingkat penghasilan kena pajak dan

  strategies.

  strategi perencanaan pajak masa depan.

  Nilai tercatat aset pajak tangguhan Grup pada

  The carrying value of deferred tax assets as of

  tanggal 31 Desember 2017 dan 2016 masing-masing

  2016 amounted to

  sebesar Rp 28.641.431.935 dan Rp 18.723.651.889.

  Rp 28,641,431,935 and Rp 18,723,651,889, respectively.

  Further details are disclosed in Note 13d.

  Catatan 13d.

  3. PERTIMBANGAN, ESTIMASI DAN ASUMSI AKUNTANSI

  3. SIGNIFICANT ACCOUNTING JUDGMENTS, ESTIMATES

  SIGNIFIKAN (Lanjutan)

  AND ASSUMPTIONS (Continued)

  Estimasi dan Asumsi (Lanjutan)

  Nilai Wajar Instrumen Keuangan

  Fair Value of Financial Instruments

  Grup menentukan nilai wajar instrumen keuangan

  The Group determines the fair value of financial

  yang tidak memiliki kuotasi pasar dengan

  instruments that are not quoted, using valuation

  menggunakan teknik penilaian. Teknik tersebut

  techniques. Those techniques are significantly affected

  dipengaruhi secara signifikan oleh asumsi yang

  by the assumptions used, including discount rates and

  digunakan, termasuk tingkat suku bunga diskonto dan

  estimates of future cash flows. In that regard, the

  estimasi arus kas di masa depan. Dalam hal tersebut,

  derived fair value estimates cannot always be

  estimasi nilai wajar yang diturunkan tidak selalu

  substantiated by comparison with independent markets

  dapat disubstansikan oleh perbandingan dengan

  and, in many cases, may not be capable of being

  pasar independen dan, dalam banyak kasus, tidak

  realized immediately.

  dapat segera direalisasikan.

  Apabila input yang digunakan untuk mengukur nilai

  If the inputs used to measure the fair value of asset or

  wajar aset dan liabilitas dapat dikategorikan di

  liability might be categorized in different levels of the

  dalam tingkat yang berbeda di dalam hirarki nilai

  fair value hierarchy, then the fair value measurement is

  wajar, maka penilaian nilai wajar dikategorikan di

  categorized in its entirety in the same level of the fair

  dalam keseluruhan pada tingkat yang sama di dalam

  value hierarchy as the lowest level input that is

  hirarki nilai wajar sebagai input terendah yang

  significant to the entire measurement.

  signifikan terhadap pengukuran. Grup mengakui transfer antara tingkatan di dalam

  The Group recognizes transfers between levels of the

  hirarki nilai wajar pada setiap akhir periode

  fair value hierarchy at the end of the reporting period

  pelaporan selama perubahan tersebut terjadi.

  during which the change has occurred.

  Metode dan asumsi yang diterapkan dan teknik

  The methods and assumptions applied, and the valuation

  penilaian yang digunakan, diungkapkan di dalam

  techniques used, are disclosed in Note 31.

  Catatan 31.

  Pensiun dan Imbalan Kerja

  Pension and Employee Benefits

  Penentuan liabilitas dan biaya pensiun dan liabilitas The determination of the Group’s obligations and cost

  imbalan kerja Grup bergantung pada pemilihan

  for pension and employee benefits liabilities is

  asumsi yang digunakan oleh aktuaris independen

  dependent on its selection of certain assumptions used

  dalam menghitung jumlah-jumlah tersebut. Asumsi

  by the independent actuaries in calculating such

  tersebut termasuk antara lain, tingkat diskonto,

  amounts. Those assumptions include discount rates,

  tingkat kenaikan gaji tahunan, tingkat pengunduran

  future annual salary increase, annual employee turn-

  diri karyawan tahunan, tingkat kecacatan, umur

  over rate, disability rate, retirement age and mortality

  pensiun dan tingkat kematian.

  rate. Hasil aktual yang berbeda dari asumsi yang Actual results that differ from the Group’s assumptions

  ditetapkan Grup langsung diakui dalam laporan laba

  are recognized immediately in the consolidated

  rugi dan penghasilan komprehensif lain konsolidasian

  statement of profit or loss and other comprehensive

  pada saat terjadinya.

  income when they occur.

  Sementara Grup berkeyakinan bahwa asumsi tersebut

  While the Group believes that its assumptions are

  adalah wajar dan sesuai, perbedaan signifikan pada

  reasonable and appropriate, significant differences in

  hasil aktual atau perubahan signifikan dalam asumsi

  the Group’s actual experiences or significant changes in

  yang ditetapkan Grup dapat mempengaruhi secara

  the Group’s assumptions may materially affect its

  material liabilitas diestimasi atas pensiun dan

  estimated liabilities for pension and employee benefits

  imbalan kerja dan beban imbalan kerja neto.

  and net employee benefits expense.

  Nilai tercatat atas liabilitas diestimasi imbalan kerja

  The carrying amount of the Group’s estimated liabilities

  karyawan Grup pada tanggal 31 Desember 2017

  for employee benefits as of 31 December 2017 and 2016

  dan 2016 masing-masing sebesar Rp 81.696.519.893

  amounted to Rp 81,696,519,893 and Rp 73,146,875,693,

  dan Rp 73.146.875.693. Penjelasan lebih lanjut

  respectively. Further details are disclosed in Note 16.

  diungkapkan diungkapkan dalam Catatan 16.

  4. KAS DAN BANK

  4. CASH ON HAND AND IN BANKS

  Cash on hand

  Bank

  Cash in banks

  Pihak ketiga

  Third parties

  Dalam Rupiah

  In Rupiah

  PT Bank Danamon

  PT Bank Danamon

  Indonesia Tbk

  Indonesia Tbk

  PT Bank Central Asia Tbk

  PT Bank Central Asia Tbk

  PT Bank Pan Indonesia Tbk

  PT Bank Pan Indonesia Tbk

  PT Bank Mandiri

  PT Bank Mandiri

  (Persero) Tbk

  (Persero) Tbk

  PT Bank CIMB Niaga Tbk

  PT Bank CIMB Niaga Tbk

  PT Bank Bukopin Tbk

  PT Bank Bukopin Tbk

  Dalam USD

  In USD

  PT Bank Pan Indonesia Tbk

  PT Bank Pan Indonesia Tbk

  PT Bank Central Asia Tbk

  PT Bank Central Asia Tbk

  Dalam SGD

  In SGD

  DBS Bank Ltd. Singapore

  DBS Bank Ltd. Singapore

  Pendapatan bunga yang diperoleh dari kas dan bank

  Interest income earned from cash on hand and in

  dan investasi jangka pendek masing-masing sebesar

  banks and short term investments amounted to

  Rp 165.492.106 dan Rp 230.089.979 untuk tahun yang

  Rp 165,492,106 and Rp 230,089,979 for the years ended

  berakhir pada 31 Desember 2017 dan 2016.

  31 December 2017 and 2016, respectively.

  5. PIUTANG USAHA

  5. TRADE RECEIVABLES

  Pihak ketiga

  Third parties

  Eastern Beauty Heritage

  Eastern Beauty Heritage

  Sdn. Bhd.

  Sdn. Bhd.

  PT Melia Sehat Sejahtera

  PT Melia Sehat Sejahtera

  PT Wahana Putra Akipindo

  PT Wahana Putra Akipindo

  Martha Tilaar Shop

  Martha Tilaar Shop

  Indosuara International Co. Ltd.

  Indosuara International Co. Ltd.

  PT Aneka Prima Sejati

  PT Aneka Prima Sejati

  Braun On Enterprise Pte. Ltd.

  Braun On Enterprise Pte. Ltd.

  PT Duta Intidaya

  PT Duta Intidaya

  PT Altindo Asia

  PT Altindo Asia

  PT Cusson Indonesia

  PT Cusson Indonesia

  PT Calmic Indonesia

  PT Calmic Indonesia

  Genius One Co. Ltd.

  Genius One Co. Ltd. Lain-lain (masing-masing di bawah Others (each below

  Rp 500 juta)

  Rp 500 million)

  Pihak berelasi (Catatan 28)

  Related parties (Note 28)

  Total

  Total

  5. PIUTANG USAHA (Lanjutan)

  5. TRADE RECEIVABLES (Continued)

  Pada tanggal 31 Desember 2017 dan 2016, analisa umur

  As of 31 December 2017 and 2016, the aging analysis

  piutang usaha di atas adalah sebagai berikut:

  of the above trade receivables are as follows:

  Belum jatuh tempo

  Lewat jatuh tempo

  Overdue

  1 – 30 hari

  1 – 30 days

  31 – 60 hari

  31 – 60 days

  61 – 90 hari

  61 – 90 days

  Rincian piutang usaha berdasarkan jenis mata uang

  Trade receivables are denominated in the following

  adalah sebagai berikut:

  currencies:

  Setara dengan (Rp)

  Setara dengan (Rp)

  Equivalent to (Rp)

  Equivalent to (Rp)

  Based on the review of the status of the individual

  piutang masing-masing pelanggan pada akhir tahun,

  receivable accounts at year-end, management believes

  manajemen berkeyakinan bahwa piutang Grup masih

  that the Group’s trade receivables are collectible and

  dapat tertagih sehingga manajemen tidak melakukan

  no allowance for impairment is necessary.

  penyisihan atas penurunan nilai piutang.

  Piutang usaha Grup dijadikan jaminan atas pinjaman

  Trade receivables of the Group were used as collateral

  yang diperoleh dari bank (Catatan 10).

  for its bank loans (Note 10).

  6. ASET KEUANGAN LANCAR LAINNYA

  6. OTHER CURRENT FINANCIAL ASSETS

  Investasi jangka pendek

  Short-term investments

  PT Bank Central Asia Tbk

  PT Bank Central Asia Tbk

  PT Bank Danamon Indonesia Tbk

  PT Bank Danamon Indonesia Tbk

  Piutang pegawai

  Employee receivables

  Investasi jangka pendek merupakan penempatan dana Short-term investments represent the Group’s fund

  Grup pada deposito berjangka yang dijadikan jaminan

  placement in time deposits which are used as

  untuk pinjaman (Catatan 10).

  collateral for loan (Note 10).

  Bahan baku dan pembantu

  Raw materials and supplies

  Barang jadi

  Finished goods

  Barang dalam proses

  Penyisihan persediaan usang

  459.415.898 ) Allowance for inventory obsolescence

  Manajemen Grup berpendapat bahwa cadangan

  Group management believes that the allowance for

  persediaan pada tanggal 31 Desember 2017 dan 2016

  inventory obsolescence as of 31 December 2017 and

  cukup untuk menutupi kehilangan akibat persediaan

  2016 are adequate to cover possible losses that may

  usang.

  arise from risk of obsolescence. Analisa mutasi saldo penyisihan persediaan usang Analysis of the movement in the balance of allowance

  adalah sebagai berikut:

  for inventory obsolescence are as follows:

  Saldo awal

  493.036.282 Beginning balance

  Pemusnahan persediaan

  Write-down of inventory

  Penambahan penyisihan persediaan

  Provision for inventory

  Saldo akhir

  Ending balance

  Persediaan diasuransikan pada PT Dayin Mitra, pihak

  Inventories were insured with PT Dayin Mitra, third

  ketiga, terhadap risiko kerugian kebakaran, kebanjiran

  party, against losses by fire, flood and other risks

  dan risiko kerugian lainnya (all risks), dengan

  (all risks), with an aggregate coverage amount of

  Rp 73,016,391,253 and Rp 62,510,391,254 as of

  Rp 73.016.391.253 dan Rp 62.510.391.254 pada tanggal

  31 December 2017 and 2016, respectively which in

  31 Desember 2017 dan 2016, dimana manajemen

  management’s opinion, is adequate to cover any

  berpendapat bahwa nilai pertanggungan tersebut

  possible losses that may arise from the said insured

  cukup untuk menutupi kemungkinan kerugian atas

  risks.

  persediaan yang dipertanggungkan.

  8. ASET TETAP

  8. PROPERTY, PLANT AND EQUIPMENT

  Saldo awal

  Reklassifikasi

  Saldo akhir

  Biaya perolehan

  Cost

  Pemilikan langsung

  Direct ownership

  Bangunan dan

  Buildings and

  Mesin dan

  Machineries and

  Peralatan kantor

  Office equipments

  Sewa pembiayaan

  Finance lease

  Pemilikan langsung

  Direct ownership

  Bangunan dan

  Buildings and

  Mesin dan

  Machineries and

  Peralatan kantor

  4.674.398.760 Office equipments

  Sewa pembiayaan

  Finance lease

  Nilai tercatat

  Carrying amount

  8. ASET TETAP (Lanjutan)

  8. PROPERTY, PLANT AND EQUIPMENT (Continued)

  Saldo awal

  Reklassifikasi

  Saldo akhir

  Biaya perolehan

  Cost

  Pemilikan langsung

  Direct ownership

  Bangunan dan

  Buildings and

  Mesin dan

  Machineries and

  Peralatan kantor

  12.033.530.832 Office equipments

  Sewa pembiayaan

  Finance lease

  Pemilikan langsung

  Direct ownership

  Bangunan dan

  Buildings and

  Mesin dan

  Machineries and

  Peralatan kantor

  9.247.869.875 Office equipments

  Sewa pembiayaan

  Finance lease

  Nilai tercatat

  Carrying amount

  Beban penyusutan dialokasikan sebagai berikut:

  The allocation of depreciation expenses are as follows:

  Beban pokok penjualan

  (Catatan 22)

  Cost of goods sold (Note 22)

  Beban penjualan dan pemasaran

  Selling and marketing

  expenses (Note 23)

  Beban umum dan administrasi

  General and administrative

  expenses (Note 24)

  Total

  26.371.149.104 25.539.869.895 Total

  8. ASET TETAP (Lanjutan)

  8. PROPERTY, PLANT AND EQUIPMENT (Continued)

  Aset tetap kecuali tanah telah diasuransikan pada Property, plant and equipment except for land were

  PT Dayan Mitra, pihak ketiga, terhadap risiko kerugian

  insured with PT Dayan Mitra, third party, against

  kebakaran, kebanjiran dan risiko kerugian lainnya

  flood and other risks

  dengan jumlah pertanggungan masing-masing sebesar

  with total coverage of Rp 219,539,097,607 and

  Rp 219.539.097.607 dan Rp 257.172.391.357 pada

  Rp 257,172,391,357 as of 31 December 2017 and 2016,

  tanggal 31 Desember 2017 dan 2016 dimana

  respectively. The management of the Group believes

  that the amounts are adequate to cover possible

  pertanggungan tersebut cukup untuk menutupi

  losses on assets insured.

  Grup memiliki Hak Guna Bangunan (HGB) dan The Group has Hak Guna Bangunan (HGB) and other

  perjanjian legal lain yang akan berakhir antara tahun

  legal rights which will expire between 2018 until

  2018 sampai dengan tahun 2030. Manajemen

  2030. Management believes that ownership of land

  berpendapat bahwa kepemilikan hak atas tanah

  rights can be renewed or extended upon expiration.

  tersebut dapat diperbaharuidiperpanjang pada saat jatuh tempo.

  Kendaraan dan mesin dengan sewa pembiayaan Vehicles and machineries under finance lease with

  carrying value amounting to Rp 15,542,083,311 and

  Rp 15.542.083.311 dan Rp 10.910.935.738 masing-

  Rp 10,910,935,738 as of 31 December 2017 and 2016,

  masing pada tanggal 31 Desember 2017 dan 2016

  respectively, are used as collateral for obligation

  digunakan sebagai jaminan atas utang sewa

  under finance leases.

  pembiayaan.

  Pada tanggal 31 Desember 2017 dan 2016, manajemen As of 31 December 2017 and 2016, management

  berpendapat bahwa tidak terdapat keadaan yang

  believes that there are no circumstances that indicate

  menunjukkan terjadinya penurunan nilai aset tetap.

  impairment of property, plant and equipment. Beberapa bidang tanah dan bangunan milik Grup Several lots of land and building owned by the Group

  dijadikan jaminan atas pinjaman yang diperoleh dari

  were used as collateral for its bank loans (Notes 10

  bank (Catatan 10 dan 15).

  and 15). Rincian atas laba atas penjualan dan penghapusan aset Details of gain on sale and disposal of property, plant

  tetap adalah sebagai berikut:

  and equipment are as follows:

  Biaya perolehan

  Acquisition cost

  Akumulasi penyusutan

  Accumulated depreciation

  Nilai tercatat

  Carrying amount

  Harga jual

  Selling price

  Laba neto

  Net gain

  Pada 2017 dan 2016, Grup menghapus aset tetap yang In

  the Group disposed

  sudah disusutkan sepenuhnya dengan harga perolehan

  fully-depreciated property and equipment with

  Rp 20,129,808,073, respectively.

  9. M E R E K

  9. TRADEMARK

  Saldo awal

  Saldo akhir

  Biaya perolehan

  Cost

  Merek

  Trademark

  Akumulasi

  Accumulated

  amortisasi

  amortization

  M e re k

  Trademark

  9. M E R E K (Lanjutan)

  9. TRADEMARK (Continued)

  Saldo awal

  Saldo akhir

  Biaya perolehan

  Nilai tercatat

  Carrying amount

  Berdasarkan akta Notaris Tania Permatasari, SH., Based on the Notarial Deed of Tania Permatasari, SH.,

  M.Kn., No. 002 tanggal 25 Januari 2016, RHH

  M.Kn., No. 002 dated 25 January 2016, RHH executed

  melaksanakan Pengalihan dan Pemindahan Hak atas

  Redirect and Transfer of Rudy Hadisuwarno Cosmetics

  merek Rudy Hadisuwarno Cosmetics, logo “R” dan

  trademark, logo "R" and signature that have been

  tanda tangan yang telah terdaftar di Direktorat

  registered with the Directorate General of Intellectual

  Jenderal Kekayaan Intelektual Kementrian Hukum dan

  Property Ministry of Law and Human Rights to the

  Hak Asasi Manusia kepada Perusahaan dengan harga

  Company with selling price of Rp 58,000,000,000.

  jual sebesar Rp 58.000.000.000.

  Amortisasi merek termasuk dalam “Beban penjualan Amortization of trademark is included in “Selling and

  dan pemasaran” sebesar Rp 2.900.000.000 dan

  marketing expenses” amounting to Rp 2,900,000,000

  Rp 2.658.333.333 untuk tahun yang berakhir pada

  and Rp 2,658,333,333 for the years ended 31 December

  31 Desember 2017 dan 2016 (Catatan 23).

  2017 and 2016 (Note 23).

  Pada tanggal 31 Desember 2017 and 2016, manajemen As of 31 December 2017 and 2016, management

  berpendapat bahwa tidak terdapat keadaan yang

  believes that there are no circumtances that indicate

  menunjukkan terjadinya penurunan nilai merek.

  impairment of trademark.

  Merek dijadikan jaminan atas pinjaman yang diperoleh The trademark was used as collateral for its bank

  dari PT Bank Central Asia Tbk (Catatan 15).

  loans to PT Bank Central Asia Tbk (Note 15).

  10. UTANG BANK JANGKA PENDEK

  10. SHORT-TERM BANK LOANS

  PT Bank Central Asia Tbk

  PT Bank Central Asia Tbk

  PT Bank Mandiri (Persero) Tbk

  PT Bank Mandiri (Persero) Tbk

  PT Bank Danamon Indonesia Tbk

  PT Bank Danamon Indonesia Tbk

  Total

  Total

  10. UTANG BANK JANGKA PENDEK (Lanjutan)

  10. SHORT-TERM BANK LOANS (Continued)

  Perusahaan

  The Company

  a. Bank Central Asia Tbk

  a. Bank Central Asia Tbk

  pinjaman The Company availed of overdraft loan facilities

  rekening koran sebesar Rp 500.000.000 yang telah

  amounting to Rp 500,000,000 which has been

  diperpanjang beberapa kali, terakhir pada

  extended several times, most recently, on

  2 Maret 2017 sampai dengan 2 Maret 2018 dengan

  2 March 2017 until 2 March 2018 with interest at

  suku bunga 6,00 per tahun dan dijamin dengan

  6.00 per annum and is secured by a deposit of

  deposito sebesar Rp 500.000.000 (Catatan 6).

  Rp 500,000,000 (Note 6).

  Pada tanggal 23 Desember 2013, Perusahaan On 23 December 2013, the Company availed

  mendapatkan dua fasilitas kredit yaitu fasilitas

  two credit facilities which are local credit

  kredit local dan fasilitas time loan revolving

  facility and revolving time loan with maximum

  dengan nilai batas maksimum masing-masing

  limit amounting to Rp 50,000,000,000 and

  sebesar Rp 50.000.000.000 dan Rp 20.000.000.000

  Rp 20,000,000,000, respectively for a period of

  untuk jangka waktu satu tahun dengan suku bunga

  one year with interest at 10.00 per annum.

  sebesar 10,00 per tahun. Pinjaman ini berlaku

  These loans are valid until 23 March 2015.

  sampai dengan 23 Maret 2015.

  Fasilitas ini mengalami beberapa kali pembaharuan The facilities have been renewed and extended

  dan perpanjangan, terakhir untuk jangka waktu

  several times the latest for a period of one year

  satu tahun terhitung sejak tanggal 23 Juni 2017

  from 23 June 2017 until 23 June 2018 with

  sampai dengan 23 Juni 2018 dengan suku bunga

  interest between 10.25 and 10.50 per annum.

  diantara 10,25 dan 10,50 per tahun.

  Berdasarkan surat No 20Corp-TreasuryVI2017 Based on letter No. 20Corp-TreasuryVI2017

  tanggal 8 Juni 2017, Perusahaan melakukan

  dated 8 June 2017, the Company has withdrawn

  penarikan fasilitas time loan revolving sebesar

  from the revolving time loan facility amounting

  Rp 20.000.000.000 dengan jangka waktu dari

  to Rp 20,000,000,000 with period from 23 June

  23 Juni 2017 sampai dengan 23 Juni 2018 dengan

  2017 until 23 June 2018 with interest at 10.25

  suku bunga 10,25 per tahun.

  per annum.

  Fasilitas kredit tersebut dijamin dengan:

  The credit facilities are secured by:

  1. Tanah dan bangunan yang berlokasi di Kawasan

  1. Land and building located at Industrial Area

  Industri Pulo Gadung, Jl. Pulolio Blok II.I

  Pulo Gadung, Jl. Pulolio Blok II.I Kav. No. 29, Kav. No. 29, Jakarta Timur seluas 4.693 m 2 East Jakarta with an area of 4,693 m 2 with

  dengan SHGB No. 141 (Catatan 8),

  SHGB No. 141 (Note 8),

  2. Tanah dan bangunan yang berlokasi di Kawasan

  2. Land and building located at Industrial Area

  Industri Pulo Gadung, Jl. Pulolio Kav. No. 29,

  Pulo Gadung, Jl. Pulolio Blok II.I Kav. No. 29,

  Jakarta Timur seluas 5.550 m 2 dengan SHGB No.

  East Jakarta with an area of 5,550 m 2 with

  187 (Catatan 8) dan

  SHGB No. 187 (Note 8) and

  3. Merek Rudy Hadisuwarno (Catatan 9).

  3. Rudy Hadisuwarno trademark (Note 9).

  Sesuai dengan perjanjian pinjaman, debitur

  As specified in the loan agreements, the

  borrowers are required to comply with certain

  tertentu seperti batasan rasio keuangan.

  covenants, such as financial ratio covenants.

  Pada tanggal 31 Desember 2017 dan 2016, saldo

  As of 31 December 2017 and 2016, local

  pinjaman fasilitas kredit lokal masing-masing

  credit facility loan balance amounted to

  sebesar Rp 49.551.571.468 dan Rp 19.482.587.824.

  Rp 49,551,571,468 and Rp 19,482,587,824, respectively.

  Pada tanggal 31 Desember 2017 dan 2016,

  As of 31 December 2017 and 2016, revolving

  saldo pinjaman fasilitas revolving time loan

  time loan facility balance amounted to

  masing-masing sebesar Rp 20.000.000.000 dan

  Rp 20,000,000,000 and nil, respectively.

  nihil.

  10. UTANG BANK JANGKA PENDEK (Lanjutan)

  10. SHORT-TERM BANK LOANS (Continued)

  Perusahaan (Lanjutan)

  The Company (Continued)

  b. PT Bank Mandiri (Persero) Tbk

  b. PT Bank Mandiri (Persero) Tbk

  Based on Working Capital Credit Agreement

  Kerja No. R05.JSD0505KMK2016 tanggal

  No. R05.JSD0505KMK2016 dated 28 September

  28 September 2016 dari Notaris N.M. Dipo

  2016 by Notary N.M. Dipo Nusantara Pua

  Nusantara Pua Upa, S.H., MKn., Perusahaan

  Upa, S.H., MKn., the Company obtained

  memperoleh fasilitas kredit modal kerja sebesar

  working capital credit facility amounting to

  Rp 40.000.000.000.

  Rp 40,000,000,000.

  Perjanjian tersebut telah mengalami perubahan

  The agreement has been amended based on

  berdasarkan Addendum I Perjanjian Kredit

  Working Capital Credit Agreement Addendum I

  Modal Kerja tanggal 25 September 2017 yang

  dated 25 September 2017 which extended the

  memperpanjang jangka waktu fasilitas untuk

  term of the facility for a period of one year

  jangka waktu satu tahun terhitung sejak tanggal

  starting from 28 September 2017 until

  28 September 2017 sampai dengan 27 September

  27 September 2018 and changes to the collateral.

  2018 dan perubahan atas jaminan.

  Berikut adalah jaminan atas fasilitas kredit yang

  The following are the collateral to the credit

  telah diubah:

  facilities as amended:

  1. Tanah dan bangunan yang berlokasi di

  1. Land and building located at Leuwimalang

  Kampung Leuwimalang Jalan Ujung Kawasan

  Village, Jalan Ujung Kawasan EJIP Pintu II Desa

  EJIP Pintu II Desa Sukaresmi, Kecamatan

  Sukaresmi, South Cikarang Subdistrict, Bekasi

  Cikarang Selatan, Kabupaten Bekasi, Provinsi

  District, West Java Province with SHGB

  Jawa Barat dengan SHGB No. 201Sukaresmi

  No. 201Sukaresmi and 379Sukaresmi with

  dan SHGB No. 379Sukaresmi masing-masing

  area of 5,335 and 8,260 m 2 , respectively with

  seluas 5.335 and 8.260 m 2 dengan nilai sebesar

  total amounting to Rp 35,263,000,000 (Note 8)

  Rp 35.263.000.000 (Catatan 8) dan

  2. Third party trade receivables owned by the

  milik Perusahaan sebesar Rp 40.000.000.000

  Company amounting to Rp 40,000,000,000

  (Catatan 5).

  (Note 5). Pada tanggal 31 Desember 2017 dan 2016, saldo As of 31 December 2017 and 2016, working capital

  kredit modal kerja masing-masing sebesar

  credit balances amounted to Rp 32,828,893,707

  Rp 32.828.893.707 dan Rp 31.203.593.128.

  and Rp 31,203,593,128, respectively.

  Entitas anak

  Subsidiaries

  PT Bank Danamon Indonesia Tbk

  PT Bank Danamon Indonesia Tbk

  PT Cedefindo mendapatkan fasilitas pinjaman

  PT Cedefindo availed of overdraft loan facility

  rekening koran sebesar Rp 2.000.000.000 yang telah

  amounting to Rp 2,000,000,000 which has been

  beberapa kali diperpanjang, terakhir kali pada

  extended several times most recently on 13 March

  tanggal 13 Maret 2016 sampai dengan 13 Maret 2017,

  2016 until 13 March 2017, with loan interest rate of

  dengan suku bunga sebesar 9,25 per tahun. Pada

  9.25 per annum. In 2016, the credit facility is

  tahun 2016, fasilitas kredit dijamin dengan deposito

  secured by deposit of Rp 2,000,000,000 (Note 6).

  sebesar Rp 2.000.000.000 (Catatan 6) Pada tanggal 6 Desember 2017, PT Cedefindo

  On 6 December 2017, PT Cedefindo received on

  loan facility from

  rekening koran dari Rp 2.000.000.000 menjadi

  Rp 2,000,000,000 to Rp 15,000,000,000 with period

  Rp 15.000.000.000 dengan jangka waktu dari

  from 6 December 2017 until 4 December 2018 with

  6 Desember 2017 sampai dengan 4 Desember 2018

  interest of 10.50 per annum.

  dengan tingkat suku bunga 10,50 per tahun.

  Fasilitas kredit tersebut dijamin dengan tanah dan This credit facility is secured by land and building

  bangunan yang berlokasi di Jl. Raya Narogong KM 4,

  located at Jl. Raya Narogong KM 4, Bojong,

  Bojong, Rawalumbu, Bekasi dengan SHGB No. 3695

  Rawalumbu, Bekasi with SHGB No. 3695 (Note 8).

  (Catatan 8).

  Pada tanggal 31 Desember 2017 dan 2016, saldo As of 31 December 2017 and 2016, overdraft

  pinjaman rekening koran masing-masing sebesar

  loan balances amounted to Rp 11,683,134,658 and

  11. UTANG USAHA

  11. TRADE PAYABLES

  Pihak ketiga

  Third parties

  PT Proaktif Mediathama

  PT Proaktif Mediathama

  PT Kemas Indah Maju

  PT Kemas Indah Maju

  PT Era Variasi Intertika

  PT Era Variasi Intertika

  PT Plasticon Trijaya

  PT Plasticon Trijaya

  PT Indah Kencana

  PT Indah Kencana

  PT Taruna Kusuma Purinusa

  PT Taruna Kusuma Purinusa

  PT Bahtera Adi Jaya

  PT Bahtera Adi Jaya

  PT Sumber Kita Indah

  PT Sumber Kita Indah

  PT Mane Indonesia

  PT Mane Indonesia

  PT Croda Indonesia

  PT Croda Indonesia

  PT Techpack Asia

  PT Techpack Asia

  PT Chemco Prima Mandiri

  PT Chemco Prima Mandiri

  Lain-lain (masing-masing di

  Others (each below

  bawah Rp 1 miliar)

  Rp 1 billion)

  Pada tanggal 31 Desember 2017 dan 2016, analisa As of 31 December 2017 and 2016, the aging analysis

  umur utang usaha di atas adalah sebagai berikut:

  of the above trade payables are as follows:

  Belum jatuh tempo

  Lewat jatuh tempo

  Overdue

  1 – 30 hari

  1 – 30 days

  31 – 60 hari

  31 – 60 days

  61 – 90 hari

  61 – 90 days

  Lebih dari 90 hari

  Above 90 days

  Pada tanggal 31 Desember 2017 dan 2016, seluruh As of 31 December 2017 and 2016, all of the Group’s

  utang usaha Grup didenominasikan dalam Rupiah

  trade payables are denominated in Indonesian Rupiah.

  Indonesia.

  12. BEBAN MASIH HARUS DIBAYAR

  12. ACCRUED EXPENSES

  Pihak ketiga

  Third parties

  Pembelian persediaan

  Inventory purchases

  Beban umum dan administrasi

  2.857.626.069 General and administrative expenses

  Pihak berelasi

  Related parties

  Royalti (Catatan 28)

  Royalties (Note 28)

  Total

  Total

  13. PERPAJAKAN

  13. TAXATION

  a. Utang Pajak

  a. Taxes Payable

  The Company

  Pajak Penghasilan:

  Income Taxes:

  Pajak Pertambahan Nilai (PPN)

  Value-Added Tax (VAT)

  Entitas anak

  Subsidiaries

  Pajak Penghasilan:

  Income Taxes:

  Pajak Pertambahan Nilai (PPN)

  Value-Added Tax (VAT)

  b. Manfaat (Beban) Pajak Penghasilan, Neto

  b. Income Tax Benefit (Expense), Net

  The Company

  Beban pajak kini

  Current tax expense

  Manfaat (beban) pajak

  Deferred tax benefit

  Entitas anak

  Subsidiaries

  Beban pajak kini

  Current tax expense

  Manfaat pajak tangguhan

  Deferred tax benefit

  Beban pajak kini

  Current tax expense

  Manfaat (beban) pajak

  Deferred tax benefit

  tangguhan

  (expense)

  Total

  Total

  13. PERPAJAKAN (Lanjutan)

  13. TAXATION (Continued)

  c. Pajak Kini

  c. Current Tax

  Rekonsiliasi antara (rugi) laba sebelum beban A reconciliation between (loss) profit before

  pajak penghasilan sebagaimana yang disajikan

  income tax expense, as shown in the consolidated

  dalam laporan laba rugi dan penghasilan

  statements of profit and loss and other

  komprehensif lain konsolidasian dengan taksiran

  comprehensive income and estimated taxable

  (rugi) penghasilan kena pajak untuk tahun yang

  (loss) income for the years ended 31 December

  berakhir pada 31 Desember 2017 dan 2016 adalah

  2017 and 2016 are as follows:

  sebagai berikut:

  (Rugi) laba sebelum beban

  pajak penghasilan menurut

  (Loss) profit before income tax expense

  laporan laba rugi dan

  per consolidated statements of profit

  komprehensif lain

  and loss and other comprehensive

  Laba neto entitas anak

  sebelum beban pajak

  Net profit before income tax

  expense of subsidiaries

  (Rugi) laba sebelum beban

  pajak penghasilan

  (Loss) profit before income tax

  expense of the Company

  Beda temporer:

  Temporary differences:

  Beban imbalan kerja karyawan

  Provision for employee benefits

  Pembayaran beban imbalan

  kerja karyawan

  Payments of employee benefits

  Kontribusi dana pensiun

  Contributions to pension fund

  Pembayaran sewa pembiayaan (

  Payments of finance lease

  Penyisihan persediaan usang

  33.620.384 ) Allowance for inventory obsolescence

  Beda tetap:

  Permanent differences:

  Beban pajak

  Tax expenses

  Beban penyusutan

  Depreciation expense

  Beban representasi dan

  Representation and donation

  Penghasilan bunga yang telah

  Interest income subjected to

  dikenakan pajak final

  final tax

  Taksiran (rugi) laba fiskal

  Estimated fiscal (loss) profit of

  Perusahaan sebelum

  the Company before compensation

  kompensasi rugi fiskal

  for tax loss Compensation for tax loss

  Kompensasi rugi fiskal tahun:

  from prior year:

  Taksiran (rugi) laba fiskal

  Estimated fiscal (loss) profit of the

  Perusahaan (Dipindahkan) (

  Company (Brought forward)

  13. PERPAJAKAN (Lanjutan)

  13. TAXATION (Continued)

  c. Pajak Kini (Lanjutan)

  c. Current Tax (Continued)

  Taksiran (rugi) laba fiskal

  Estimated fiscal (loss) profit of the

  Perusahaan (Pindahan)

  Company (Carried forward)

  Perusahaan

  The Company

  Beban pajak penghasilan - kini

  Current tax expense

  Dikurangi pajak penghasilan

  dibayar di muka

  Less prepaid taxes

  Taksiran utang (klaim) pajak

  penghasilan – Pasal 29

  Estimated tax payable (claims for tax

  (Pasal 28a)

  refund) – Art 29 (Art 28a)

  Entitas Anak

  Subsidiaries

  Beban pajak penghasilan - kini

  Current tax expense

  Dikurangi pajak penghasilan

  dibayar di muka

  Less prepaid taxes

  Taksiran utang pajak

  penghasilan – Pasal 29

  Estimated tax payable – Art 29

  According to the Taxation Laws in Indonesia, the

  Indonesia, Grup menghitung, menetapkan dan

  Group calculate, assign and pay their own

  membayar sendiri besarnya jumlah pajak yang

  respective taxes owed. Tax Office may assess or

  terutang. Kantor Pajak dapat menetapkan atau

  amend taxes within five (5) years from the date

  mengubah liabilitas pajak tersebut dalam jangka

  tax was payable. Amendments to Tax obligations

  waktu lima (5) tahun sejak tanggal terutangnya

  of the Group are recorded when an Tax

  pajak. Koreksi liabilitas pajak Grup dicatat

  Assessment Letter is received, or if appealed

  pada saat Surat Ketetapan Pajak diterima, atau

  against, when the decision of the appeal is

  jika mengajukan keberatan, atau pada saat

  determined.

  keputusan atas keberatan Grup tersebut telah ditetapkan.

  d. Pajak Tangguhan

  d. Deferred Tax

  Pajak tangguhan dihitung berdasarkan pengaruh

  Deferred tax is calculated based on the effect

  dari perbedaan temporer antara jumlah tercatat

  of temporary differences between the carrying

  aset dan liabilitas pada laporan keuangan

  amounts of assets and liabilities in the

  konsolidasian dengan dasar pengenaan pajak aset

  consolidated financial statements with the tax

  dan liabilitas. Rincian dari aset dan liabilitas pajak

  bases of assets and liabilities. Details of deferred

  tangguhan adalah sebagai berikut:

  tax assets and liabilities are as follows:

  13. PERPAJAKAN (Lanjutan)

  13. TAXATION (Continued)

  d. Pajak Tangguhan (Lanjutan)

  d. Deferred Tax (Continued)

  Dikreditkan (dibebankan) ke

  Dikreditkan ke

  laporan laba rugi

  penghasilan

  konsolidasian

  komprehensif lain

  Credited (charged)

  Credited

  to consolidated

  to other

  statement of

  comprehensive

  profit and loss

  income 2017

  Aset Pajak

  Deferred Tax

  The Company

  Imbalan kerja

  18.262.377.225 Employee benefits Allowance for

  Penyisihan

  inventory

  persediaan usang

  243.382.152 obsolescence Accumulated fiscal

  Akumulasi rugi fiskal

  Sewa pembiayaan

  1.870.246.721 ) Finance lease

  Entitas anak

  Subsidiaries

  Imbalan kerja

  2.161.752.749 Employee benefits

  Dikreditkan (dibebankan) ke

  Dikreditkan ke

  laporan laba rugi

  penghasilan

  konsolidasian

  komprehensif lain

  Credited (charged)

  Credited

  to consolidated

  to other

  statement of

  comprehensive

  profit and loss

  income 2016

  Aset Pajak

  Deferred Tax

  The Company

  Imbalan kerja

  karyawan

  16.978.625.420 Employee benefits Allowance for

  Penyisihan

  inventory

  persediaan usang

  114.853.981 obsolescence Accumulated fiscal

  Akumulasi rugi fiskal

  Sewa pembiayaan

  1.561.177.256 ) Finance lease

  Entitas anak

  Subsidiaries

  Imbalan kerja

  1.308.093.503 Employee benefits

  Penyusutan

  322.078.985 Depreciation

  Total

  17.162.474.633 Total

  13. PERPAJAKAN (Lanjutan)

  13. TAXATION (Continued)

  d. Pajak Tangguhan (Lanjutan)

  d. Deferred Tax (Continued)

  Manajemen berpendapat bahwa aset pajak

  Management is of the opinion that the above

  tangguhan tersebut dapat dipulihkan kembali

  deferred tax assets can be fully recovered through

  melalui penghasilan kena pajak di masa yang akan

  future taxable income.

  datang.

  e. Taksiran Klaim Pajak Penghasilan

  e. Estimated Claims for Income Tax Refund

  Pajak Penghasilan:

  Income Tax:

  Perusahaan

  The Company

  Pasal 28A – 2017

  Article 28A - 2017

  Pasal 28A – 2015

  Article 28A - 2015

  Pasal 28A – 2014

  Article 28A – 2014

  Pasal 28A – 2013

  Article 28A – 2013

  Entitas anak

  Subsidiaries

  Pasal 28A – 2015

  Article 28A - 2015

  The Company

  In 2017, the Company was granted a refund of tax

  claim amounting to Rp 2,992,922,300 on audit of

  Rp 2.992.922.300 atas pemeriksaan pajak

  tax period 2015 for corporate income tax with

  tahun 2015 atas pajak penghasilan badan dengan

  Tax Assessment Letter of Overpayment (SKPLB)

  No. 000184061505417 dated 14 March 2017.

  No. 000184061505417 tanggal 14 Maret 2017.

  Unrecovered estimated claim amounting to

  Estimasi klaim yang tidak terpulihkan sebesar

  Rp 2,640,779,698 was recorded as tax expenses in

  Rp 2.640.779.698 dicatat sebagai beban pajak di

  2017. Atas pengembalian pajak diatas, Kantor Pelayanan

  For the tax refund above, the Tax Service Office

  Pajak langsung mengurangi jumlah yang akan

  directly offset amount that will be received

  underpayment amounting to

  sebesar Rp 17.972.865.439 berdasarkan Surat

  Rp 17,972,865,439 based on Tax Assessment

  Letter of Underpayment No.0000620614

  No. 000062061405416 tanggal 30 April 2016

  dated

  30 April 2016 for tax

  untuk masa pajak tahun 2014 sehingga sisa pajak

  period 2014 with remaining tax payable

  paid in 2017 amounting to Rp 14,979,943,139.

  its request for

  appeal for the underpayment amounting

  17,972,865,439 with letter

  No. 074OLMBTOVI2016 tanggal 30 Juni 2016.

  No. 074OLMBTOVI2016 dated 30 June 2016.

  In 2016, the Company received a Tax

  Surat Ketetapan Pajak Kurang Bayar (SKPKB)

  Assessment

  Letter

  of Underpayment

  No. 000152061105416 tanggal 24 Oktober

  No. 000152061105416 dated 24 October 2016

  2016 untuk masa pajak tahun 2011 atas pajak

  for tax period 2011 for corporate income tax with

  total amounting to Rp 17,759,728,939. The

  Rp 17.759.728.939. Perusahaan telah membayar

  Company paid for the underpayment amounting

  kekurangan pajak tersebut sebesar Rp 21.339.586.

  to Rp 21,339,586. The Company is in the process

  Perusahaan sedang dalam proses mengajukan

  of submitting its objection for the remaining

  keberatan atas sisa kurang bayar sebesar

  underpayment amounting to Rp 17,738,389,353

  Rp 17.738.389.353 dengan surat pengajuan

  with objection letter No. 001PJK-MBI2017.

  keberatan No. 001PJK-MBI2017.

  13. PERPAJAKAN (Lanjutan)

  13. TAXATION (Continued)

  e. Taksiran Klaim Pajak Penghasilan (Lanjutan)

  e. Estimated Claims for Income Tax Refund (Continued)

  Perusahaan (Lanjutan)

  The Company (Continued)

  Pada tahun 2016, Perusahaan menerima Surat

  In 2016, the Company received Tax Assessment

  Ketetapan Pajak Kurang Bayar (SKPKB) dan Surat

  Letters of Underpayment (SKPKB) and Tax

  Tagihan Pajak (STP) atas pemeriksaan pajak tahun

  Collection Letters (STP) for 2011 tax audit. The

  2011. Rincian atas SKPKB dan STP yang diterima

  details of SKPKB and STP received are as follows:

  adalah sebagai berikut:

  Tahun Pembayaran

  Nomor Surat

  P a j a k

  M a s a

  J u m l a h Year of

  Letter Number

  Taxes

  Periods

  Amount Payment

  STP No. 001171011105416

  Pajak Penghasilan Pasal 21

  Januari – Desember 2011

  Income Tax Article 21

  January – December 2011

  SKPKB No. 000072011105416 Pajak Penghasilan Pasal 21

  Januari – Desember 2011

  Income Tax Article 21

  January – December 2011

  SKPKB No. 000102031105416 Pajak Penghasilan Pasal 23

  Januari – Desember 2011

  Income Tax Article 23

  January – December 2011

  STP No. 000481401105416

  Pajak Penghasilan Pasal 4(2)

  Januari – Desember 2011

  Income Tax Article 4(2)

  January – December 2011

  SKPKB No. 000782071105416 Pajak Pertambahan Nilai

  Oktober 2011

  Value Added Tax

  October 2011

  SKPKB No. 000792071105416 Pajak Pertambahan Nilai

  November 2011

  Value Added Tax

  SKPKB No. 000802071105416 Pajak Pertambahan Nilai

  Desember 2011

  Value Added Tax

  December 2011

  STP No. 001451071105416

  Pajak Pertambahan Nilai

  Desember 2011

  Value Added Tax

  In 2015, the Company received a Tax Assessment

  Surat Ketetapan Pajak Kurang Bayar (SKPKB)

  Letter of Underpayment No. 0001720613

  No. 000172061305415 tanggal 28 April 2015

  05415 dated 28 April 2015 for tax period 2013

  untuk masa pajak tahun 2013 atas pajak

  for corporate income tax with total amounting to

  Rp 950,235,102. The Company paid for the

  Rp 950.235.102. Perusahaan telah membayar

  underpayment and recorded these as tax claims.

  kekurangan pajak tersebut yang dicatat sebagai

  The Company filed its objection for the

  klaim pajak. Perusahaan mengajukan keberatan

  underpayment with objection letter No. 01PJK-

  atas kurang bayar dengan surat pengajuan

  MBVII2015.

  keberatan No. 01PJK-MBVII2015.

  13. PERPAJAKAN (Lanjutan)

  13. TAXATION (Continued)

  e. Taksiran Klaim Pajak Penghasilan (Lanjutan)

  e. Estimated Claims for Income Tax Refund (Continued)

  Entitas anak

  Subsidiaries

  Pada tahun 2017, PT Cedefindo menerima

  In 2017, PT Cedefindo received a refund of tax

  claim amounting to Rp 382,912,367 on audit of

  Rp 382.912.367 atas pemeriksaan pajak tahun

  tax period 2015 for corporate income tax with

  2015 atas pajak penghasilan badan dengan SKPLB

  SKPLB No. 000474061543117 dated 26 April

  No. 000474061543117 tanggal 26 April 2017.

  2017. Unrecovered estimated claim amounting to

  Estimasi klaim yang tidak terpulihkan sebesar

  Rp 20,511,465 was recorded as tax expenses in

  Rp 20.511.465 dicatat sebagai beban pajak pada

  tahun 2017.

  Pada tahun 2016, PT Cedefindo menerima

  In 2016, PT Cedefindo received a refund of

  tax claim amounting to Rp 1,119,724,416 on

  Rp 1.119.724.416 atas pemeriksaan pajak tahun

  audit of tax period 2014 for corporate income

  2014 atas pajak penghasilan badan dengan SKPLB

  tax with SKPLB No. 000214061443116 dated

  No. 000214061443116 tanggal 5 April 2016.

  5 April 2016.

  14. UTANG SEWA PEMBIAYAAN

  14. FINANCE LEASE LIABILITIES

  PT Orix Indonesia Finance

  PT Orix Indonesia Finance

  PT BCA Finance

  PT BCA Finance

  PT Mandiri Tunas Finance

  PT Mandiri Tunas Finance

  Total utang sewa pembiayaan

  Total finance lease liabilities

  Dikurangi bagian yang jatuh tempo

  dalam waktu satu tahun

  Less current portion

  Total bagian jangka panjang

  Total long-term portion

  Pada tanggal 31 Desember 2017 dan 2016, nilai

  As of 31 December 2017 and 2016, carrying value of

  tercatat kendaraan dan mesin dengan sewa

  vehicles and machineries under finance lease

  amounted to 15,542,083,311 and Rp 10,910,935,738,

  Rp 15.542.083.311 dan Rp 10.910.935.738.

  respectively.

  Pembayaran sewa pembiayaan yang akan datang Future lease payments are as follows:

  adalah sebagai berikut:

  Pembayaran sewa minimum Minimum

  Bunga

  Nilai kini

  lease payments

  Interest

  Present value

  Sampai dengan satu tahun

  Not later than one year

  Lebih dari satu tahun

  Between one year and five

  sampai lima tahun

  Lebih dari lima tahun

  Later than five years

  Total

  Total

  14. UTANG SEWA PEMBIAYAAN (Lanjutan)

  14. FINANCE LEASE LIABILITIES (Continued)

  Pembayaran sewa minimum Minimum

  Bunga

  Nilai kini

  lease payments

  Interest

  Present value

  Sampai dengan satu tahun

  Not later than one year

  Lebih dari satu tahun

  Between one year and five

  sampai lima tahun

  Lebih dari lima tahun

  Later than five years

  15. UTANG BANK JANGKA PANJANG

  15. LONG-TERM BANK LOANS

  PT Bank Central Asia Tbk

  PT Bank Central Asia Tbk

  Utang bank jangka panjang

  Long-term bank loans

  Dikurangi bagian yang jatuh tempo

  dalam waktu satu tahun

  Less current portion

  Total bagian jangka panjang

  Total long-term portion

  Berdasarkan Akta Perubahan Penjanjian No. 30 Based on Deed of Credit Agreement Amendment

  tanggal 25 Januari 2016 dari Notaris Octariena Harum

  No. 30 dated 25 January 2016 by Notary Octariena

  Wulan S.H. M.Kn., Perusahaan memperoleh fasilitas

  Harum Wulan S.H. M.Kn., the Company obtained

  kredit tambahan berupa Omnibus Fasilitas Kredit

  additional credit facilities in the form of Omnibus

  Investasi dan Bank Garansi dengan PT Bank Central

  Facility Investment Credit and Bank Guarantee with

  Asia Tbk. Fasilitas ini mempunyai batas limit

  PT Bank Central Asia Tbk. These facilities have a

  maksimum sebesar Rp 46.400.000.000 dengan suku

  maximum limit amounting to Rp 46,400,000,000

  bunga sebesar 11,00 per tahun. Jangka waktu

  with interest at 11.00 per annum. The term of this

  fasilitas ini adalah dari tanggal 23 Maret 2016 sampai

  facility is from 23 March 2016 until 23 March 2023.

  dengan 23 Maret 2023. Sebagian dari penerimaan

  Part of the proceeds for this facility were used for

  dana atas fasilitas ini digunakan untuk pembelian

  the purchase of the Rudy Hadisuwarno trademark.

  merek Rudy Hadisuwarno. Fasilitas ini memiliki jaminan yang sama dengan

  These facilities are cross-collateralized with the

  pinjaman jangka pendek yang diperoleh dari PT Bank

  short-term bank loans obtained from PT Bank

  Central Bank Asia Tbk (Catatan 10). Sesuai dengan

  Central Bank Asia Tbk (Note 10). As specified in the

  perjanjian pinjaman, debitur diwajibkan memenuhi

  loan agreements, the borrowers are required to

  kewajiban-kewajiban tertentu seperti batasan rasio

  comply with certain covenants, such as financial

  keuangan.

  ratio covenants.

16. LIABILITAS DIESTIMASI IMBALAN KERJA KARYAWAN 16. ESTIMATED LIABILITIES FOR EMPLOYEE BENEFITS

  Grup memberikan imbalan bagi karyawannya yang

  The Group provides benefits for employee who reach

  mencapai usia pensiun yaitu 55 tahun sesuai dengan

  the retirement age of 55 years based on the

  Undang-Undang ketenagakerjaan No. 132003 tanggal

  provisions of Labor Law No. 132003 dated 25 March

  25 Maret 2003.

  Perhitungan liabilitas imbalan kerja karyawan pada

  The calculation of employee benefits liability as of

  31 Desember 2017 dan 2016 adalah berdasarkan

  31 December 2017 and 2016 are based on calculations

  perhitungan yang dilakukan oleh PT Dian Artha Tama,

  performed by an independent actuary, PT Dian Artha

  aktuaris independen, berdasarkan laporannya masing-

  Tama based on its report dated 2 March 2018 and

  masing pada tanggal 2 Maret 2018 dan 6 Maret 2017.

  6 March 2017, respectively.

  16. LIABILITAS DIESTIMASI IMBALAN KERJA KARYAWAN

  16. ESTIMATED LIABILITIES FOR EMPLOYEE BENEFITS

  (Lanjutan)

  (Continued)

  Grup memberikan imbalan bagi karyawannya yang

  The Group provides benefits for employee who reach

  mencapai usia pensiun yaitu 55 tahun sesuai dengan

  the retirement age of 55 years based on the

  Undang-Undang ketenagakerjaan No. 132003 tanggal

  provisions of Labor Law No. 132003 dated 25 March

  25 Maret 2003.

  Perhitungan liabilitas imbalan kerja karyawan pada

  The calculation of employee benefits liability as of

  31 Desember 2017 dan 2016 adalah berdasarkan

  31 December 2017 and 2016 are based on calculations

  perhitungan yang dilakukan oleh PT Dian Artha Tama,

  performed by an independent actuary, PT Dian Artha

  aktuaris independen, berdasarkan laporannya masing-

  Tama based on its report dated 2 March 2018 and

  masing pada tanggal 2 Maret 2018 dan 6 Maret 2017.

  6 March 2017, respectively.

  Jumlah karyawan yang berhak atas imbalan kerja Total employees eligible for employee benefits

  tersebut adalah 774 orang untuk tahun 2017 dan

  totaled to 774 in 2017 and 729 in 2016.

  729 orang untuk tahun 2016.

  Rekonsiliasi liabilitas diestimasi imbalan kerja

  Reconciliation of the estimated liabilities for

  karyawan adalah sebagai berikut:

  employee benefits are as follows:

  Nilai kini liabilitas

  Present value of benefits obligation

  Nilai wajar aset program

  Fair value of plan assets

  Status pendanaan

  Unfunded status

  Analisa atas mutasi saldo liabilitas diestimasi untuk

  An analysis of the movements in the balance of the

  imbalan kerja karyawan untuk tahun yang berakhir

  above-mentioned net estimated liabilities for

  pada 31 Desember 2017 dan 2016 adalah sebagai

  employee benefits for the years ended 31 December

  berikut:

  2017 and 2016 are as follows:

  Saldo awal

  Beginning balance

  Pembayaran manfaat bukan dari

  Benefit payments not

  aset program

  from the plan asset

  Pembayaran kontribusi

  Pengukuran kembali:

  Remeasurements:

  Kerugian (keuntungan) aktuaria

  yang timbul dari

  Actuarial loss (gain) from

  Asumsi keuangan

  Financial assumptions

  Penyesuaian pengalaman

  Experience adjustments

  Tingkat pengembelian aset

  Return on plan assets

  Penyisihan imbalan kerja karyawan

  Provision for employee benefits

  diakui selama tahun berjalan

  recognized during the year

  Saldo akhir

  Ending balance

  16. LIABILITAS DIESTIMASI IMBALAN KERJA KARYAWAN

  16. ESTIMATED LIABILITIES FOR EMPLOYEE BENEFITS

  (Lanjutan)

  (Continued)

  Beban imbalan kerja karyawan untuk tahun yang Provision for employee benefits for the years ended

  berakhir pada 31 Desember 2017 dan 2016 disajikan

  31 December 2017 and 2016 are presented as part of

  sebagai bagian dari akun “Beban umum dan

  “General and administrative expenses” in the

  administrasi” di dalam laporan laba rugi dan

  consolidated statements of profit loss and other

  penghasilan komprehensif lain konsolidasian, dengan

  comprehensive income, with details as follows:

  rincian sebagai berikut:

  Beban jasa kini

  Current service cost

  Beban bunga

  Interest cost

  Penghasilan bunga

  Interest income

  Neto (Catatan 24)

  Net (Note 24)

  Perubahan nilai wajar dari aset program adalah Changes in the fair value of plan assets are as

  sebagai berikut:

  Saldo awal periode

  Balance at beginning of the period

  Pembayaran kontribusi

  Pembayaran manfaat dari

  Benefit payments

  aset program

  from the plan asset

  Penghasilan bunga

  Interest income

  Pengukuran kembali:

  Remeasurements:

  Tingkat pengembalian aset program

  Return on plan assets

  Saldo akhir tahun

  Balance at end of the year

  Tingkat pengembalian actual aset

  Actual return on plan assets

  Tingkat pengembalian dari aset berdasarkan harapan

  The expected return on plan assets is based on the

  Grup bahwa aset tersebut akan menghasilkan

  Group’s expectation that assets will yield at least

  setidaknya sama dengan tingkat bebas risiko untuk

  equal to the risk-free rate for the applicable period

  periode yang berlaku dimana utang tersebut harus

  over which the obligation is to be settled.

  diselesaikan.

  Kategori utama aset program sebagai presentase nilai

  The major categories of plan assets as a percentage of

  wajar aset program tersebut pada 31 Desember 2017

  the fair value of total plan assets as of 31 December

  dan 2016 adalah sebagai berikut:

  2017 and 2016 are as follows:

  Kas dan investasi jangka pendek

  Cash and other short-term

  lainnya

  investments

  Sekuritas

  Securities

  16. LIABILITAS DIESTIMASI IMBALAN KERJA KARYAWAN

  16. ESTIMATED LIABILITIES FOR EMPLOYEE BENEFITS

  (Lanjutan)

  (Continued)

  Asumsi dasar yang digunakan pada perhitungan The key assumptions used in actuarial calculations on

  aktuaris pada tahun 2017 dan 2016, antara lain:

  2017 and 2016 are as follows, among others:

  Tingkat mortalita

  TMI – 2011

  TMI – 2011

  Mortality rate

  Tingkat diskonto

  Discount rate

  Tingkat kenaikan cacat

  0,02 p.a.

  0,02 p.a.

  Disability rate

  Tingkat kenaikan gaji

  Annual salary increment rate

  Umur pensiun

  : 55 tahunyears 55 tahunyears :

  Retirement age

  Sensitivitas kewajiban imbalan pasti dari perubahan

  The sensitivity of the defined benefit obligation to

  yang mungkin terjadi pada satu asumsi aktuaria,

  a reasonably possible change to one actuarial

  menganggap semua asumsi lainnya konstan, disajikan

  assumption, holding all other assumptions constant, is

  dalam tabel di bawah:

  presented in the table below:

  Penjelasan

  Kewajiban imbalan pasti

  kemungkinan

  Defined benefit obligation

  perubahan Reasonable

  Asumsi aktuaria

  Actuarial assumptions

  Tingkat discount

  Discount rate

  Pertumbuhan gaji masa depan

  (+- 1,00)

  5.295.692.197 ) Growth in future salaries

  Penjelasan

  Kewajiban imbalan pasti

  kemungkinan

  Defined benefit obligation

  Asumsi aktuaria

  Actuarial assumptions

  Tingkat discount

  Discount rate

  Pertumbuhan gaji masa depan

  Growth in future salaries

  Tabel dibawah adalah analisa jatuh tempo atas

  Shown below is the maturity analysis of the

  pembayaran manfaat yang didiskontokan pada

  discounted benefit payments as of 31 December 2017

  tanggal 31 Desember 2017 dan 2016:

  Dalam 12 bulan berikutnya

  Within the next 12 months

  Antara 2 dan 5 tahun

  Between 2 and 5 years

  Antara 5 dan 10 tahun

  Between 5 and 10 years

  Total

  Total

  16. MODAL SAHAM

  17. SHARE CAPITAL

  Susunan pemegang saham pada tanggal 31 Desember

  The composition of the Company’s shareholders as of

  2017 dan 2016 adalah sebagai berikut:

  31 December 2017 and 2016 are as follows:

  Jumlah saham

  ditempatkan dan disetor

  penuh

  Persentase

  Number of

  pemilikan

  shares issued

  Percentage of

  J u m l a h

  Pemegang Saham

  and fully paid ownership ()

  Amount

  Shareholders

  PT Marthana Megahayu Inti

  PT Marthana Megahayu Inti

  PT Beringin Wulanki Ayu

  PT Beringin Wulanki Ayu

  PT Marthana Megahayu

  PT Marthana Megahayu Masyarakat (masing-masing Public (with ownership

  dengan kepemilikan

  interest of less than 5

  kurang dari 5)

  Pengurus Perusahaan

  The Company’s Management

  Bryan David Emil

  Bryan David Emil

  Samuel Eduard Pranata

  Samuel Eduard Pranata

  Iwan Herwanto

  Iwan Herwanto

  Kunto Widarto

  Kunto Widarto

  18. AGIO SAHAM

  18. ADDITIONAL PAID-IN CAPITAL

  Saldo agio saham sebesar Rp 214.500.000.000 pada The balance of additional paid-in capital in excess of

  tanggal 31 Desember 2017 dan 2016, merupakan

  par value amounting to Rp 214,500,000,000 as of

  jumlah agio setelah dikurangi dengan biaya emisi

  31 December 2017 and 2016 represents paid in capital

  sebesar Rp 12.700.000.000 dalam penawaran umum

  in excess of par value from after deducting share

  saham perdana Perusahaan.

  issuance cost from the Company’s initial public offering of Rp 12,700,000,000.

  19. SALDO LABA TELAH DITENTUKAN PENGGUNAANNYA

  19. APPROPRIATED RETAINED EARNINGS

  Berdasarkan Undang-Undang Perseroan Terbatas No. 40 Under Limited Liability Law No. 40 Year 2007, the

  Tahun 2007, Perusahaan diwajibkan untuk membentuk

  Company is required to set up a statutory reserve

  cadangan statutori sebesar minimum 20 dari

  amounting to at least 20 of the Company‘s issued

  saham Perusahaan yang diterbitkan dan disetor.

  and paid-up capital. In order to comply with the

  Guna memenuhi persyaratan perundang-undangan,

  requirements of the Law, the Company has

  Perusahaan telah menentukan penggunaan saldo

  appropriated retained earnings as of 31 December

  laba pada tanggal 31 Desember 2017 dan 2016

  2017 and 2016 amounting to Rp 3,500,000,000 and

  Rp 3,000,000,000, respectively.

  Rp 3.000.000.000.

  20. KEPENTINGAN NON-PENGENDALI

  20. NON-CONTROLLING INTEREST

  Kepentingan non-pengendali atas aset bersih entitas

  Non–controlling interests in net assets of subsidiaries

  anak merupakan bagian pemegang saham minoritas

  represent the share of minority shareholders in the

  atas aset bersih entitas anak yang tidak seluruh

  net assets of subsidiaries that are not wholly owned

  sahamnya dimiliki oleh Perusahaan (Catatan 1c).

  by the Company (Note 1c).

  Rincian kepentingan non-pengendali atas ekuitas dan

  Details of non-controlling interests in the equity and

  bagian atas hasil bersih entitas anak yang dikonsolidasi

  share of results of consolidated subsidiaries are as

  adalah sebagai berikut:

  follows:

  Pada awal tahun Laba (rugi)

  Rugi komprehensif

  Pada akhir tahun

  Entitas anak

  At beginning Profit and

  lain Other

  At end

  Subsidiary

  of the year

  (loss)

  comprehensive loss

  of the year

  PT Cedefindo

  Pada awal tahun Laba (rugi)

  Rugi komprehensif

  Pada akhir tahun

  Entitas anak

  At beginning Profit and

  lain Other

  At end

  Subsidiary

  of the year

  (loss)

  comprehensive loss

  of the year

  PT Cedefindo

  21. PENJUALAN NETO

  21. NET SALES

  Diskon penjualan

  Sales discounts

  Retur penjualan

  Sales returns

  85,00 dan 85,80 dari jumlah penjualan masing- 85.00 and 85.80 of net sales for the years ended

  31 December 2017 and 2016, respectively, were

  31 Desember 2017 dan 2016 dilakukan dengan pihak

  made to related parties (Note 28).

  berelasi (Catatan 28).

  22. BEBAN POKOK PENJUALAN

  22. COST OF GOODS SOLD

  Bahan baku dan kemasan yang

  Raw and packaging materials used

  Tenaga kerja langsung

  Direct labor

  Penyusutan (Catatan 8)

  Depreciation (Note 8)

  Beban pabrikasi

  Factory overhead

  Total biaya pabrik

  314.012.038.936 Total manufacturing cost

  Persediaan barang dalam proses

  awal

  7.581.673.241 Beginning work-in-process inventories

  Total biaya yang dimasukkan ke

  Total cost of goods placed into

  dalam biaya produksi

  Persediaan barang dalam proses

  Ending work-in-process

  akhir (Catatan 7)

  inventories (Note 7)

  Total beban barang manufaktur

  317.851.880.271 Total cost of goods manufactured

  Persediaan barang jadi awal

  13.341.780.683 Beginning finished goods inventories

  Total cost of goods

  Total beban barang siap jual

  Persediaan barang jadi akhir

  Ending finished goods inventories

  Barang promosi dan lain-lain

  Promotional expenses and others

  Pembelian dari pihak berelasi masing-masing sebesar Purchases from related parties amounted to

  Rp 45.680.496.458 dan Rp 31.296.360.906 untuk

  Rp 45,680,496,458 and Rp 31,296,360,906 for the

  tahun yang berakhir pada 31 Desember 2017 dan 2016

  years ended 31 December 2017 and 2016,

  (Catatan 28).

  respectively (Note 28).

  23. BEBAN PENJUALAN DAN PEMASARAN

  23. SELLING AND MARKETING EXPENSES

  Iklan dan promosi

  Advertising and promotions

  Beban penjualan

  Selling expenses

  Gaji, upah dan kesejahteraan

  Salaries, wages and employee

  Pendukung penjualan

  Sales support

  Royalti dan jasa manajemen

  Royalties and management

  service fees (Note 28)

  Penyusutan (Catatan 8)

  Depreciation (Note 8)

  Hubungan masyarakat

  Public relations

  Amortisasi merek (Catatan 9)

  Trademark amortization (Note 9)

  Perjalanan dinas

  Pemusnahan persediaan

  Writedown of inventories

  Lain-lain (masing-masing di

  Others (each below

  bawah Rp 1 miliar)

  Rp 1 billion)

  24. BEBAN UMUM DAN ADMINISTRASI

  24. GENERAL AND ADMINISTRATIVE EXPENSES

  Gaji, upah dan kesejahteraan

  karyawan

  48.041.879.211 Salaries, wages and employee benefits Penyisihan imbalan kerja karyawan Provision for employee

  benefits (Note 16)

  Penyusutan (Catatan 8)

  Depreciation (Note 8)

  Perijinan dan pajak

  Licenses and taxes

  Pengembangan sumber daya

  Human resource development

  Hubungan masyarakat

  Public relations

  Jasa profesional dan manajemen

  Professional and management fee

  Perjalanan dinas

  Office supplies

  Sewa peralatan kantor

  Office equipment rental Lain-lain (masing-masing di bawah Others (each below

  Rp 1 miliar)

  Rp 1 billion)

  25. PENDAPATAN KEUANGAN

  25. FINANCE INCOME

  Finance income amounting to Rp 165,492,106 and

  Rp 165.492.106 dan Rp 230.089.979 untuk tahun yang

  Rp 230,089,979 for the years ended 31 December

  berakhir pada 31 Desember 2017 dan 2016 merupakan

  2017 and 2016, respectively, represent interest

  penghasilan bunga jasa giro dan deposito berjangka

  income on bank accounts and time deposits and other

  serta pendapatan keuangan lainnya.

  financial income.

  26. BEBAN KEUANGAN

  26. FINANCE COSTS

  Finance costs amounting to Rp 14,818,644,267 and

  Rp 14.818.644.267 dan Rp 13.093.228.894 untuk tahun

  Rp 13,093,228,894 for the years ended 31 December

  yang berakhir pada 31 Desember 2017 dan 2016

  2017 and 2016, respectively, represent interest

  merupakan beban bunga pinjaman jangka pendek,

  expense on short-term bank loans, long-term bank

  utang bank jangka panjang dan beban bunga sewa

  loans and finance lease liabilities.

  pembiayaan.

  27. (RUGI) LABA PER SAHAM DASAR

  27. BASIC (LOSS) EARNINGS PER SHARE

  (Rugi) laba neto untuk yang dapat

  diatribusikan kepada pemilik

  Net (loss) profit attributable to

  entitas induk

  owner of the parent company

  Jumlah rata-rata tertimbang saham Weighted average number of

  yang beredar

  oustanding shares

  (Rugi) laba per saham dasar

  Basic (loss) earnings per share

  28. SALDO AKUN, TRANSAKSI DAN HUBUNGAN DENGAN

  28. ACCOUNT

  BALANCES,

  TRANSACTIONS AND

  PIHAK BERELASI

  RELATIONSHIPS WITH RELATED PARTIES

  Dalam kegiatan usaha normal, Grup melakukan

  The Group, in its regular conduct of business,

  transaksi dengan pihak yang berelasi yang meliputi

  engages in transactions with related parties

  transaksi penjualan, pembelian, royalti dan transaksi

  consisting of sales, purchases, royalty and other

  keuangan lainnya.

  financial transactions.

  Rincian sifat hubungan dan jenis transaksi yang

  Details of the nature and type of material

  material dengan pihak yang berelasi adalah sebagai

  transactions with related parties are as follows:

  berikut:

  Pihak yang berelasi

  Sifat dari hubungan

  Sifat dari transaksi

  Related parties

  Nature of relationship

  Nature of transactions

  PT SAI Indonesia

  Entitas sepengendali

  Penjualan dan pembelian

  Entity under common control

  Sales and purchases

  PT Martha Beauty Gallery

  Entitas sepengendali

  Penjualan dan pembelian

  Entity under common control

  Sales and purchases

  PT Kreasiboga Primatama

  Entitas sepengendali

  Pembelian

  Entity under common control

  Purchases

  PT Creative Style Mandiri

  Entitas sepengendali

  Pembelian

  Entity under common control

  Purchases

  PT Cantika Puspa Pesona

  Entitas sepengendali

  Penjualan dan pembelian

  Entity under common control

  Sales and purchases

  PT Sinergi Global Servis

  Entitas sepengendali

  Piutang lain-lain dan

  Entity under common control

  utang lain-lain Other receivable and other payable

  Ibu Martha Tilaar

  Personil manajemen kunci Grup

  Royalti

  Mrs. Martha Tilaar

  Key management personnel of the Group

  Royalties

  Ibu Ratna Handana

  Personel manajemen kunci Grup

  Royalti

  Mrs. Ratna Handana

  Key management personnel of the Group

  Royalties

  Persentase terhadap jumlah aset liabilitas konsolidasian () Percentage to total consolidated assets

  Aset Lancar

  Current Assets

  Piutang usaha

  Trade receivables

  PT SAI Indonesia

  PT SAI Indonesia

  PT Cantika Puspa Pesona

  PT Cantika Puspa Pesona

  PT Martha Beauty Gallery

  PT Martha Beauty Gallery

  Total (Catatan 5)

  Total (Note 5)

  Piutang non-usaha

  Non-trade receivables

  PT Sinergi Global Servis

  0,00 PT Sinergi Global Servis

  PT SAI Indonesia

  PT SAI Indonesia

  PT Cantika Puspa Pesona

  PT Cantika Puspa Pesona

  PT Martha Beauty Gallery

  PT Martha Beauty Gallery

  PT Creative Style Mandiri

  PT Creative Style Mandiri

  PT Kreasiboga Primatama

  0,00 PT Kreasiboga Primatama

  Total

  Total

  28. SALDO AKUN, TRANSAKSI DAN HUBUNGAN DENGAN

  28. ACCOUNT

  BALANCES,

  TRANSACTIONS AND

  PIHAK BERELASI (Lanjutan)

  RELATIONSHIPS

  WITH

  RELATED PARTIES

  (Continued)

  Persentase terhadap jumlah aset liabilitas konsolidasian () Percentage to total consolidated assets

  Liabilitas Jangka Pendek

  Current Liabilities

  Utang non-usaha

  Non-trade payables

  PT Kreasiboga Primatama

  PT Kreasiboga Primatama

  PT Sinergi Global Servis

  PT Sinergi Global Servis

  PT Creative Style Mandiri

  PT Creative Style Mandiri

  PT SAI Indonesia

  PT SAI Indonesia

  PT Martha Beauty Gallery

  PT Martha Beauty Gallery

  PT Cantika Puspa Pesona

  PT Cantika Puspa Pesona

  Beban masih harus dibayar

  Accrued expenses

  Ibu Martha Tilaar

  Mrs. Martha Tilaar

  Ibu Ratna Handana

  Mrs. Ratna Handana

  Total (Catatan 12)

  Total (Note 12)

  Persentase terhadap

  jumlah penjualan beban pokok penjualan beban operasional konsolidasian() Percentage to total consolidated sales

  cost of sales operating expenses ()

  PT SAI Indonesia

  PT SAI Indonesia

  PT Cantika Puspa Pesona

  PT Cantika Puspa Pesona

  PT Martha Beauty Gallery

  PT Martha Beauty Gallery

  Total (Catatan 21)

  Total (Note 21)

  Pembelian

  Purchases

  PT Kreasiboga Primatama

  PT Kreasiboga Primatama

  PT SAI Indonesia

  PT SAI Indonesia

  PT Creative Style Mandiri

  PT Creative Style Mandiri

  PT Martina Beauty Gallery

  PT Martha Beauty Gallery

  PT Cantika Puspa Pesona

  PT Cantika Puspa Pesona

  Total (Catatan 22)

  Total (Note 22)

  Beban Royalti

  Royalty Expenses

  Ibu Martha Tilaar

  Mrs. Martha Tilaar

  Ibu Ratna Handana

  Mrs. Ratna Handana

  Total (Catatan 23)

  Total (Note 23)

  28. SALDO AKUN, TRANSAKSI DAN HUBUNGAN DENGAN

  28. ACCOUNT BALANCES,

  TRANSACTIONS AND

  PIHAK BERELASI (Lanjutan)

  RELATIONSHIPS WITH RELATED PARTIES (Continued)

  Kompensasi Manajemen Kunci (Lanjutan)

  Key

  Management

  Personnel Compensation

  (Continued)

  Manajemen kunci adalah orang-orang yang mempunyai

  Key management personnel are those persons having

  wewenang dan tanggung jawab untuk merencanakan,

  authority and responsibility for planning, directing

  memimpin dan mengendalikan kegiatan Perusahaan,

  and controlling the activities of the Group, including

  termasuk direktur Perusahaan yang tercantum pada

  the Directors and Commissioners of the Company

  Catatan 1.

  listed in Note 1.

  Gaji dan tunjangan yang dibayarkan kepada Dewan

  Total salaries and other compensation benefits

  Komisaris dan Direksi Perusahaan dan personil

  incurred for the Company’s Boards of Commissioners

  manajemen kunci lainnya pada tahun 2017 dan 2016

  and Directors and other key management personnel in

  adalah sebagai berikut:

  2017 and 2016, respectively, are as follows:

  Personil manajemen kunci lainnya

  Dewan Direksi

  Dewan Komisaris

  Other key

  Board of

  Board of

  Gaji dan imbalan kerja

  karyawan jangka pendek

  Salary and other short-

  18.188.961.510 term employee benefits

  Penyisihan kewajiban

  Provision for defined

  manfaat pasti

  benefit obligations

  Personil manajemen kunci lainnya

  Dewan Direksi

  Dewan Komisaris

  Other key

  Board of

  Board of

  Gaji dan imbalan kerja

  karyawan jangka pendek

  Salary and other short-

  17.491.671.963 term employee benefits

  Penyisihan kewajiban

  Provision for defined

  manfaat pasti

  benefit obligations

  29. INFORMASI SEGMEN

  29. SEGMENT INFORMATION

  a. Segmen Primer

  a. Primary Segment

  Untuk kepentingan manajemen, kegiatan usaha

  For management purposes, the Group’s business

  Grup diklasifikasikan menjadi 2 (dua): segmen

  activities are categorized into 2 (two): trading of

  usaha, yaitu perdagangan jamu tradisional dan

  traditional herbal (jamu) and cosmetic products.

  barang-barang kosmetika.

  29. INFORMASI SEGMEN (Lanjutan)

  29. SEGMENT INFORMATION (Continued)

  a. Segmen Primer (Lanjutan)

  a. Primary Segment (Continued)

  Informasi mengenai segmen usaha Grup adalah

  Information regarding these the Groups’s business

  sebagai berikut:

  segments are as follows:

  Hasil (beban) segmen

  17.005.066.559 ) Segment (expense) results

  14.818.644.267 ) Finance costs

  Pendapatan keuangan

  165.492.106 Finance income

  Bagian atas laba

  bersih entitas

  Share in net income

  asosiasi

  of associates

  Rugi sebelum pajak

  Loss before

  penghasilan

  31.658.218.720 ) income tax

  Manfaat pajak

  penghasilan

  6.967.392.602 Income tax benefit

  Rugi bersih

  Net loss

  Aset

  Assets

  Aset segmen

  46.142.847.180 Segment assets

  Aset grup yang tidak

  Unallocated

  dapat dialokasikan

  734.526.914.607 group assets

  Total Aset

  Total Assets

  Hasil (beban) segmen

  24.644.369.286 Segment results

  13.093.228.894 ) Finance costs

  Pendapatan keuangan

  230.089.979 Finance income

  Bagian atas laba

  bersih entitas

  Share in net income

  asosiasi

  of associates

  Laba sebelum pajak

  Profit before

  penghasilan

  11.781.230.371 income tax

  Beban pajak

  penghasilan

  2.967.619.292 ) Income tax expense

  Laba bersih

  Net profit

  Aset

  Assets

  Aset segmen

  43.411.456.156 Segment assets

  Aset grup yang tidak

  Unallocated

  dapat dialokasikan

  666.547.711.932 group assets

  Total Aset

  Total Assets

  29. INFORMASI SEGMEN (Lanjutan)

  29. SEGMENT INFORMATION (Continued)

  b. Segmen Geografis

  b. Geographical Segment

  Informasi mengenai segmen geografis Grup adalah

  Information regarding these the Group’s business

  sebagai berikut:

  segments are as follows:

  Dalam negeri

  Luar negeri

  Dalam negeri

  Luar negeri

  30. PERJANJIAN-PERJANJIAN PENTING, IKATAN DAN

  30. SIGNIFICANT AGREEMENTS, COMMITMENTS AND

  The Company h.

  a. Perusahaan mengadakan Perjanjian Kerja sama a. The Company entered into Joint Production

  Produksi dengan PT Cedefindo, dimana Perusahaan

  Agreement with PT Cedefindo, whereby

  menyerahkan proses pembuatan Produk Kosmetik,

  the Company transferred the production process

  "Sari Ayu, Belia, Hair Care Sari Ayu, Caring Colour,

  for Cosmetic Products, "Sari Ayu, Belia, Sari Ayu

  Cempaka dan Mirabella." Perjanjian ini berlaku

  Hair Care, Caring Colour, Cempaka and

  efektif sejak tanggal 1 Januari 2016 sampai dengan

  Mirabella". This agreement is effective from

  31 Desember 2018. Ruangan lingkup dan tujuan

  1 January 2016 to 31 December 2018. The scope

  kerjasama adalah:

  and objectives of cooperation are as follows:

  1. PT Martina Berto Tbk menyerahkan proses 1. PT Martina Berto Tbk transferred the

  pembuatan produksi kepada PT Cedefindo dan

  production process to PT Cedefindo and

  PT Cedefindo menerima penyerahan tersebut

  PT Cedefindo accepts to produce the

  products the terms of which will be

  ditentukan secara tersendiri dalam suatu

  determined separately at a subsequent time

  kesempatan yang merupakan satu kesatuan

  and will be an integral part of this

  dengan perjanjian ini.

  Agreement.

  2. Pengalihan Produksi tersebut di atas dapat

  2. The transfer of production mentioned above

  meliputi pekerjaan yang berdiri sendiri atau

  may include stand-alone jobs or merged as

  bergabung sesuai kebutuhan.

  required.

  30. PERJANJIAN-PERJANJIAN PENTING, IKATAN DAN

  30. SIGNIFICANT AGREEMENTS, COMMITMENTS AND

  KONTINJENSI (Lanjutan)

  CONTINGENCIES (Continued)

  Perusahaan (Lanjutan)

  The Company (Continued) i.

  b. Pada tanggal 2 Januari 2006, Perusahaan

  b. b. On 2 January 2006, the Company entered into

  mengadakan perjanjian kerjasama dengan PT SAI

  an agreement with PT SAI Indonesia, wherein

  Indonesia, dimana PT SAI Indonesia ditempatkan

  PT SAI Indonesia was appointed as a distributor

  sebagai distributor produk-produk kosmetika dan

  of cosmetic products and herbal products such

  jamu seperti Sari Ayu Martha Tilaar, Sari Ayu

  as Sari Ayu Martha Tilaar, Sari Ayu Martha

  Martha Tilaar Hair Care, Biokos Martha Tilaar,

  Tilaar Hair Care, Biokos Martha Tilaar, Caring

  Caring Colours Martah Tilaar, Professional Artist

  Colours Martah Tilaar, Professional Artist

  Cosmetics (PAC) Martha Tilaar, Dewi Sri Spa Martha

  Cosmetics (PAC) Martha Tilaar, Dewi Sri Spa

  Tilaar, Cempaka Cosmetics, Mirabella Cosmetics

  Martha Tilaar, Cempaka Cosmetic, Mirabella

  dan Dermacos. Perjanjian ini berlaku selama

  Cosmetics and Dermacos. This agreement was

  2 (dua) tahun sejak tanggal 2 Januari 2006 sampai

  valid for 2 (two) years from 2 January 2006 to

  dengan tanggal 31 Desember 2008. Perjanjian ini

  31 December 2008. This agreement has been

  mengalami beberapa kali perpanjangan terakhir

  extended several times the latest with

  dengan perjanjian No. 06P.DistrMB-SAIXII2009

  agreement

  No.

  06P.DistrMB-SAIXII2009

  dengan jangka waktu dari tanggal 31 Desember

  effective from 31 December 2009 to 1 January

  2009 sampai dengan 1 Januari 2020.

  c. Perjanjian lisensi dengan Ibu DR. Martha Tilaar

  1. c. The license agreement with Mrs. DR. Martha

  telah mengalami beberapa kali perubahan, terakhir

  Tilaar has been amended several times, most

  dengan addendum perjanjian lisensi tanggal

  recently with the license agreement addendum

  25 April 2005 yaitu antara Ibu DR. Martha Tilaar

  dated 25 April 2005, between Mrs. DR. Martha

  dengan Perusahaan dimana sebelumnya Ibu

  Tilaar with the Company whereby previously

  DR. Martha Tilaar mengadakan perjanjian dengan

  Mrs. DR. Martha Tilaar entered into an

  PT Tiara Permata Sari (TPS). Addendum ini

  agreement with PT Tiara Permata Sari (TPS).

  dilaksanakan karena pada tanggal 3 Januari 2005,

  Addendum was made because on 3 January

  TPS bergabung dengan Perusahaan (penerima

  2005, TPS merged with the Company (the

  lisensi) berdasarkan Akta Penggabungan No. 1, dari

  licensee) pursuant to the Merger Deed No. 1,

  Kasir, S.H., Notaris di Jakarta. Penggabungan ini

  from Kasir, S.H, Notary in Jakarta. This

  telah disahkan oleh Menteri Hukum dan Hak Asasi

  integration has been approved by the Minister

  Manusia Republik Indonesia dan telah memperoleh

  of Law and Human Rights Republic of Indonesia

  Pengesahan Penerima Laporan Akta Perubahan

  and has obtained a Certification Receipt of

  anggaran dasar Perusahaan No. C.0917 HT.01.04.

  Report of Amendments Republic No. C.0917

  TH.2005 tanggal 5 April 2005, serta telah

  HT.01.04. TH.2005 dated 5 April 2005, which

  diumumkan dalam Berita Negara Republik Indonesia

  was published in the State Gazette No. 38 dated

  No.38 tanggal 13 Mei 2005, Tambahan No. 421.

  13 May 2005, Supplement No. 421.

  Karena hal tersebut di atas maka penerima lisensi

  1. Due to the above-mentioned changes, the

  yang semula TPS beralih kepada Perusahaan, serta

  original licensee TPS transferred the license to

  segala hak dan liabilitas penerima lisensi dalam

  the Company, including all the rights and

  perjanjian menjadi hak dan liabilitas Perusahaan.

  obligations of the licensee in the agreement and will become the rights and obligations of the Company.

  Perjanjian royalti di atas mengalami perubahan lagi

  2. The royalty agreement was amended again with

  the publication of the agreement dated

  1 Januari 2010 yang berlaku sejak tanggal

  1 January 2010 effective from 1 January 2010

  1 Januari 2010 dan berakhir pada tanggal

  and will expire on 1 January 2028 with details

  1 Januari 2028 dengan rincian sebagai berikut:

  as follows:

  30. PERJANJIAN-PERJANJIAN PENTING, IKATAN DAN

  30. SIGNIFICANT AGREEMENTS, COMMITMENTS AND

  KONTINJENSI (Lanjutan)

  CONTINGENCIES (Continued)

  Perusahaan (Lanjutan)

  h. The Company (Continued)

  1. Perjanjian royalti antara Perusahaan dengan

  3. 1. Royalty agreement between the Company

  Ibu DR. Martha Tilaar untuk penggunaan

  and Mrs. DR. Martha Tilaar for the use of

  merek, nama dan logo Martha Tilaar (untuk

  trademarks, names and Martha Tilaar logos

  produk dengan merek: Sariayu, PAC, Biokos,

  (for products with trademarks: Sariayu,

  Caring Colour, DSS, Belia, Solusi dan Jamu

  PAC, Biokos, Caring Colour, DSS, Belia,

  Garden serta merek-merek yang akan

  Solutions and Herb Garden and the

  dikembangkan di kemudian hari) dengan tarif

  trademarks that will be developed at a later

  royalti sebesar 0,367 dari penjualan bersih.

  date) with a royalty rate of 0.367 of net sales.

  2. Perjanjian royalti antara Perusahaan dengan

  2. Royalty agreement between the Company

  Ibu DR. Martha Tilaar dan Ibu Ratna Handana,

  and Mrs. DR. Martha Tilaar and Mrs. Ratna

  S.H., untuk penggunaan merek Sariayu, PAC,

  Handana, S.H., for the use of trademarks

  Biokos, Caring Colours, DSS, Belia, Solusi dan

  Sariayu, PAC, Biokos, Caring Colours, DSS,

  Jamu Garden serta merek-merek yang akan

  Belia, Solutions and Herb Garden and the

  dikembangkan di kemudian hari dengan

  trademarks that will be developed at a later

  proporsi 51 milik Ibu DR. Martha Tilaar dan

  date, with the proportion of 51 for Mrs.

  49 milik Ibu Ratna Handana, S.H. dengan tarif

  DR. Martha Tilaar and 49 for Mrs. Ratna

  royalti sebesar 1,633 dari penjualan bersih.

  Handana, S.H. with a royalty rate of 1.633 of net sales.

  d. Pada tanggal 2 Januari 2004, PT Sembada

  e. d. On 2 January 2004, PT Kharisma Sembada

  Kharisma Sembada Tama (pemberi lisensi atas

  Tama (licensor of products with the

  produk dengan merek "Rudy Hadisuwarno")

  trademarks "Rudy Hadisuwarno") entered into a

  mengadakan Perjanjian Lisensi dengan PT Warna

  License Agreement with PT Warna Ungu

  Ungu Multisinar ("WUM" - entitas anak) yang

  Multisinar ("WUM" - subsidiary) who merged

  bergabung dengan PT Cedefindo pada tahun 2005,

  with PT Cedefindo in 2005, where WUM is a

  dimana WUM adalah penerima lisensi dengan tarif

  licensee with royalty rate amounting to 5

  royalti sebesar 5 dari Harga Faktur Retail (HFR).

  from Retail Invoice Price (RIP). The above

  Perjanjian lisensi diatas telah mengalami

  agreement has been amended several

  beberapa kali perubahan yang terakhir adalah

  times, most recently by the License Agreement

  addendum Perjanjian Lisensi antara Perusahaan

  between

  the

  Company and PT Rudy

  dengan PT Rudy Hadisuwarno tertanggal 24 Maret

  Hadisuwarno dated 24 March 2009. This

  2009. Addendum ini berlaku efektif sejak tanggal

  Addendum is effective from 1 January 2009 to

  1 Januari 2009 sampai dengan 31 Desember 2013

  31 December 2013. The Company extended the

  dan Perusahaan sudah melakukan perpanjangan

  agreement for a period of 10 years that will

  atas perjanjian dengan jangka waktu 10 tahun

  end on 31 December 2023.

  sehingga berakhir sampai dengan 31 Desember 2023.

  Pada tanggal 25 Januari 2016, Perjanjian Lisensi

  e. On 25 January 2016, the License Agreement

  diakhiri sehubungan dengan pembelian merek

  has been terminated in connection with the

  purchase of the Rudy Hadisuwarno brand based

  No. 005LGLSK-MB12016 (Catatan 9).

  on Agreement No. 005LGLSK-MB12016

  (Note 9).

  30. PERJANJIAN-PERJANJIAN PENTING, IKATAN DAN

  30. SIGNIFICANT AGREEMENTS, COMMITMENTS AND

  KONTINJENSI (Lanjutan)

  CONTINGENCIES (Continued)

  Perusahaan (Lanjutan)

  i. The Company (Continued)

  Pihak-pihak mengakhiri kebarlakuan Perjanjian The parties terminated the effectivity of the

  Lisensi tertanggal 2 Januari 2004, sebagaimana

  License Agreement dated 2 January 2004 as

  telah diubah berturut-turut dengan:

  amended successively as follows:

  a. Addendum Perjanjian Lisensi tertanggal

  a. Addendum to the License Agreement dated

  30 Juli 2004

  30 July 2004

  b. Addendum Perjanjian Lisensi tertanggal

  b. Addendum to the License Agreement dated

  12 Mei 2005

  12 May 2005

  c. Addendum Perjanjian Lisensi tertanggal

  c. Addendum to the License Agreement dated

  1 Desember 2005

  1 December 2005

  d. Addendum Perjanjian Lisensi tertanggal

  d. Addendum to the License Agreement dated

  20 November 2006

  20 November 2006

  e. Addendum Perjanjian Lisensi tertanggal

  e. Addendum to the License Agreement dated

  8 Agustus 2008

  8 August 2008

  f. Addendum Perjanjian Lisensi tertanggal

  f. Addendum to the License Agreement dated

  24 Maret 2009

  24 March 2009

  g. Addendum Perjanjian Lisensi tertanggal

  g. Addendum to the License Agreement dated

  27 Juli 2011

  27 July 2011

  Kewajiban royalti berdasarkan Perjanjian Lisensi

  Royalty liability based on the License

  yang masih harus dibayarkan akan diperhitungkan

  Agreement that is still outstanding will be

  computed until the date of the signing of this

  Perjanjian Pengakhiran Lisensi ini dan harus

  License Termination Agreement and should be

  dibayarkan paling lambat 14 (empat belas) hari

  paid not later than 14 (fourteen) working days

  kerja setelah penandatanganan akta transaksi

  after the signing of the deed of sale and

  jual beli atau pengalihan dan pemindahan hak

  redirect and transfer of rights of the Rudy

  merek Rudy Hadisuwarno.

  Hadisuwarno trademark.

  e. Pada tanggal 7 Desember 2015, Perusahaan

  f. e. On 7 December 2015, the Company entered

  mengadakan kerjasama jasa penempatan tenaga

  into manpower placement services agreement

  kerja dengan PT Kreasiboga Primatama, dimana

  with PT Kreasiboga Primatama, whereby the

  Perusahaan akan memakai jasa PT Kreasiboga

  Company will use the services of PT Kreasiboga

  Primatama untuk menempatkan beberapa tenaga

  Primatama in providing labor services in

  kerja dalam cleaning service, laundry, produksi,

  cleaning, laundry, production, packaging and

  pengemasan, staf administrasi dan umum.

  general administrative areas. The contract is

  Kontrak kerjasama ini berlaku sejak tanggal

  valid from 1 January 2017 until 31 December

  1 Januari 2017 sampai dengan tanggal

  31 Desember 2017.

  30. PERJANJIAN-PERJANJIAN PENTING, IKATAN DAN

  30. SIGNIFICANT AGREEMENTS, COMMITMENTS AND

  KONTIJENSI (Lanjutan)

  CONTINGENCIES (Continued)

  Perusahaan (Lanjutan)

  The Company (Continued) j.

  f. Berdasarkan Rapat Umum Pemegang Saham

  c. f. Based on the Annual General Shareholders’

  Tahunan akta Notaris Simon Yos Sudarso, S.H.,

  Meeting as notarized by Notary Simon Yos

  LL.M., No. 2 tanggal 2 Juni 2016, dana

  Sudarso, S.H., LL.M., No. 2 dated 2 June 2016,

  yang diperoleh dari hasil Penawaran Umum

  funds obtained from the Public Offering after

  setelah dikurangi biaya-biaya emisi, sebesar

  deduction of issuance costs amounting to

  Rp 250.000.000.000 telah dipergunakan sebagai

  Rp 250,000,000,000 were fully utilized with

  berikut:

  details of expenditure as follows:

  d. a. 21.60 or Rp 54,000,000,000 was used for

  digunakan untuk pembayaran hutang bank,

  payment of bank loans,

  b. 30.00 or Rp 75,000,000,000 was used for

  digunakan untuk proses pembangunan pabrik

  construction of plant in Cikarang and

  Cikarang, pembelian mesin-mesin dan utilitas,

  acquisition of machinery and utilities,

  c. 2,80 atau Rp 7.000.000.000 telah digunakan

  c. 2.80 or Rp 7,000,000,000 was used for

  untuk perluasan dan renovasi gedung fasilitas

  expansion and renovation of production

  produksi,

  facilities,

  d. 37,20 atau Rp 93.000.000.000 digunakan

  c. d. 37.20 or Rp 93,000,000,000 was used for

  sebagai modal kerja dan

  working capital and

  e. 8,40 atau Rp 21.000.000.000 pembelian hak

  e. 8.40 or Rp 21,000,000,000 was used for

  kekayaan intelektual berupa merek dagang

  acquisition of 3rd class category intellectual

  Rudy Hadisuwarno kategori kelas 3 (tiga).

  property rights which is the Rudy Hadisuwarno trademark.

  g. Berdasarkan

  Perjanjian

  No.

  004LGLMB- g. Based on Agreement No. 004LGLMB-RHHI2016

  RHHI2016 tanggal 25 Januari 2016, Perusahaan

  dated 25 January 2016, the Company entered into

  mengadakan Perjanjian Kerjasama dengan Rudy

  Cooperation Agreement with Rudy Hadisuwarno

  Hadisuwarno dengan penyediaan jasa brand image

  in which the latter will be providing services as

  produk RHC (Rudy Hadisuwarno Cosmetics). Jasa

  brand image of RHC (Rudy Hadisuwarno

  ini beberapa diantaranya termasuk pemotretan

  Cosmetics) products. These services include photo

  dan pengambilan video, pemuatan nama, foto,

  and video shoots, use of name, photos, videos

  video dan tanda tangan dan promosi pemakaian

  and signature and promotion on the use of RHC

  produk RHC. Perjanjian ini berlaku selama dua

  products, among others. This agreement is

  tahun terhitung sejak tanggal ditandatanganinya.

  effective for two years from the date this agreement is signed.

  Entitas anak

  Subsidiaries h.

  Pada tanggal 13 Desember 2016, PT Cedefindo On 13 December 2016, PT Cedefindo entered into

  mengadakan kerjasama jasa penempatan tenaga

  manpower placement services agreement with

  kerja dengan PT Kreasiboga Primatama, dimana

  PT Kreasiboga Primatama, whereby PT Cedefindo

  PT Cedefindo akan memakai jasa PT Kreasiboga

  will use the services of PT Kreasiboga Primatama in

  Primatama untuk menempatkan beberapa tenaga

  providing labor services in packaging, driver and

  kerja dalam pengemasan, supir, staf administrasi dan

  general administrative areas. The contract is valid

  umum. Kontrak kerjasama ini berlaku sejak tanggal

  from 1 January 2017 until 31 December 2017.

  1 Januari 2017 sampai dengan tanggal 31 Desember 2017.

  31. NILAI WAJAR INSTRUMEN KEUANGAN

  31. FAIR VALUE OF FINANCIAL INSTRUMENTS

  Nilai wajar atas aset dan liabilitas keuangan adalah

  The fair value of financial assets and liabilities is the

  nilai dimana instrumen dapat dipertukarkan

  value at which the instruments can be exchanged

  diselesaikan antar pihak yang memahami dan

  settled between knowledgeable and willing parties in

  berkeinginan untuk melakukan transaksi secara wajar

  fair transaction (arm's length transaction), which is

  (arm's length transaction), yang bukan berasal dari

  not arising from forced sales or liquidation.

  penjualan yang dipaksakan atau likuidasi.

  Berikut ini adalah metode dan asumsi yang digunakan

  The following are methods and assumptions that are

  untuk memperkirakan nilai wajar setiap kelompok

  used to estimate the fair value of each group of the

  dari instrumen keuangan Grup:

  Group’s financial instruments:

  1. Kas dan bank, piutang usaha, aset keuangan lancar

  1. Cash on hand and in banks, trade receivables,

  lain-lain, piutang non-usaha lainnya dari pihak

  other current financial assets, non-trade

  berelasi, aset keuangan tidak lancar lainnya, utang

  receivables from related parties, other non-

  bank jangka pendek, utang usaha, utang non-usaha

  current financial assets, short-term bank loans,

  dari pihak berelasi dan beban masih harus dibayar

  trade payables, other short-term financial

  mendekati nilai tercatatnya karena bersifat jangka

  liabilities, non-trade payables from related

  pendek.

  parties and accrued expenses approach their carrying value due to short-term nature.

  2. Nilai wajar atas liabilitas tidak lancar lainnya,

  2. The fair value of other non-current financial

  utang sewa pembiayaan dan utang bank jangka

  liabilities, finance lease liabilities and long-

  panjang diperkirakan dengan mendiskontokan

  term bank loans were estimated by discounting

  arus kas masa depan menggunakan tingkat suku

  future cash flows using current interest rate for

  bunga untuk deposito dan pinjaman, yang

  deposit and loan, which require similar credit

  mempersyaratkan risiko kredit dan sisa masa jatuh

  risks and maturity period.

  tempo yang serupa. Tabel berikut menyajikan nilai wajar, yang

  The following table represents fair value, which is

  mendekati nilai tercatat, atas aset dan liabilitas

  approaching carrying value of the financial assets

  keuangan Grup:

  and liabilities of the Group:

  Pinjaman yang diberikan dan

  piutang

  Loans and receivables

  Kas dan bank

  Cash on hand and in banks

  Piutang usaha

  Trade receivables

  Aset keuangan lancar lainnya

  Other current financial assets

  Piutang non-usaha dari pihak

  Non-trade receivables from related

  Aset keuangan tidak lancar lainnya

  Other non-current financial assets

  Utang dan pinjaman

  Loans and borrowings

  Utang bank jangka pendek

  Short-term bank loans

  Utang usaha

  Trade payables

  Liabilitas keuangan jangka pendek

  Other short-term financial liabilities

  Utang non-usaha dari pihak

  Non-trade payables from related

  Beban masih harus dibayar

  Accrued expenses

  Utang sewa pembiayaan

  Financial lease liabilities

  Utang bank jangka panjang

  Long-term bank loans

  Total

  Total

  32. MANAJEMEN RISIKO KEUANGAN

  32. FINANCIAL RISK MANAGEMENT

  Pendahuluan dan Tinjauan

  Introduction and Overview

  Dewan Direksi memiliki tanggung jawab keseluruhan

  The Board of Directors has overall responsibility for

  setting and overseeing the risk management

  framework. Board of Directors has set a financial

  fungsi keuangan yang bertanggung jawab untuk

  function that is responsible for developing and

  mengembangkan dan memantau kebijakan manajemen

  monitoring the Group’s risk management policy. The

  risiko Grup. Sedangkan fungsi internal audit memiliki

  internal audit function, on the other hand, has the

  tanggung jawab untuk memantau kepatuhan terhadap

  responsibility to monitor compliance with risk

  kebijakan dan prosedur manajemen risiko, dan untuk

  management policies and procedures and to review

  menelaah kecukupan kerangka manajemen risiko yang

  the adequacy of risk management framework related

  terkait dengan risiko-risiko yang dihadapi oleh Grup

  to the risks faced by the Group by providing a report

  dengan memberikan laporannya kepada Direksi.

  to the Board of Directors.

  a. Risiko Kredit

  a. Credit Risk

  Eksposur risiko kredit Grup terutama timbul dari

  The Group’s exposure to credit risk arises

  pengelolan piutang usaha. Grup melakukan

  primarily from managing trade receivables. The

  pengawasan kolektibilitas piutang sehingga dapat

  Group monitors receivables so that these are

  diterima penagihannya secara tepat waktu dan

  collected in a timely manner and also conduct

  juga melakukan penelaahan atas masing-masing

  reviews of individual customer accounts on a

  piutang pelanggan secara berkala untuk menilai

  regular basis to assess the potential for

  potensi timbulnya kegagalan penagihan.

  uncollectibility.

  Tabel di bawah ini merangkum paparan

  The table below summarizes the gross maximum

  maksimum gross risiko kredit dari setiap kelas

  exposure to credit risk of each class of financial

  keuangan aset sebelum memperhitungkan agunan

  assets before taking into account any collateral

  atau pendukung kredit lainnya pada 31 Desember

  held or other credit enhancements as of

  2017 dan 2016.

  31 December 2017 and 2016.

  Pinjaman yang diberikan

  dan piutang

  Loans and receivables

  Cash in banks

  Piutang usaha

  Trade receivables

  Aset keuangan lancar lainnya

  Other current financial assets

  Piutang non-usaha dari pihak

  Non-trade receivables from

  related parties

  Aset keuangan tidak lancar

  Other non-current financial assets

  There are significant concentrations of credit

  signifikan dalam Grup, yaitu piutang usaha

  risks within the Group, which are its trade

  terhadap PT SAI Indonesia.

  receivables to PT SAI Indonesia.

  32. MANAJEMEN RISIKO KEUANGAN (Lanjutan)

  32. FINANCIAL RISK MANAGEMENT (Continued)

  a. Risiko Kredit (Lanjutan)

  a. Credit Risk (Continued)

  Analisis aging aset keuangan Grup adalah sebagai

  Aging analyses of the Group’s financial assets are

  berikut:

  as follows:

  Tidak lewat

  jatuh tempo maupun mengalami penurunan

  nilai Neither past

  Jatuh tempo namun tidak mengalami penurunan nilai

  due nor

  Past due but not impaired

  31–60 Days 61–90 Days

  >90 Days

  Total 2017

  Pinjaman dan

  Loans and

  5.122.563.250 Cash in banks

  Piutang usaha

  Trade receivables

  Aset keuangan

  Other current

  lancar lainnya

  1.911.569.289 financial assets

  Piutang non-usaha

  Non-trade

  dari pihak

  receivables from

  1.337.304.510 related parties

  Aset keuangan tidak

  Other non-current

  lancar lainnya

  2.566.464.150 financial assets

  Tidak lewat

  jatuh tempo maupun mengalami penurunan

  nilai Neither past

  Jatuh tempo namun tidak mengalami penurunan nilai

  due nor

  Past due but not impaired

  impaired

  <30 Days 31–60 Days 61–90 Days

  >90 Days

  Total 2016

  Pinjaman dan

  Loans and

  6.472.989.876 Cash in banks

  Piutang usaha

  346.657.795.260 Trade receivables

  Aset keuangan

  Other current

  lancar lainnya

  4.462.088.123 financial assets

  Piutang non-usaha

  Non-trade

  dari pihak

  receivables from

  717.018.372 related parties

  Aset keuangan tidak

  Other non-current

  lancar lainnya

  2.744.769.921 financial assets

  Total

  Total

  32. MANAJEMEN RISIKO KEUANGAN (Lanjutan)

  32. FINANCIAL RISK MANAGEMENT (Continued)

  a. Risiko Kredit (Lanjutan)

  a. Credit Risk (Continued)

  Berikut adalah klasifikasi aset keuangan Grup

  Below is the classification of Group’s financial

  yang tidak lewat jatuh tempo atau gangguan.

  assets that are neither past due nor impaired.

  Tingkat di bawah

  standar

  Tingkat atas

  Tingkat standar

  Substandard

  High grade

  Standard grade

  Grade

  Pinjaman dan piutang

  Loans and receivables

  Cash in banks

  Piutang usaha

  Trade receivables

  Aset keuangan lancar

  Other current financial

  Piutang non-usaha dari

  Non-trade receivables from

  pihak berelasi

  related parties

  Aset keuangan tidak

  Other non-current financial

  lancar lainnya

  Tingkat di bawah

  standar

  Tingkat atas

  Tingkat standar

  Substandard

  High grade

  Standard grade

  grade

  Pinjaman dan piutang

  Loans and receivables

  Cash in banks

  Piutang usaha

  Trade receivables

  Aset keuangan lancar

  Other current financial

  Piutang non-usaha dari

  Non-trade receivables from

  pihak berelasi

  related parties

  Aset keuangan tidak

  Other non-current financial

  lancar lainnya

  Grup telah menilai kualitas kredit uang tunai

  Group has assessed the credit quality of its cash

  sebagai kelas tinggi karena ini disimpan diatau

  as high grade since these are deposited inor

  dilakukan dengan bank terkemuka yang memiliki

  transacted with reputable banks which have low

  probabilitas rendah kebangkrutan.

  probability of insolvency.

  32. MANAJEMEN RISIKO KEUANGAN (Lanjutan)

  32. FINANCIAL RISK MANAGEMENT (Continued)

  a. Risiko Kredit (Lanjutan)

  a. Credit Risk (Continued)

  Aset lainnya Grup keuangan yang dikategorikan

  Group’s other financial assets are categorized

  berdasarkan pengalaman pengumpulan Grup

  based on Group’s collection experience with the

  dengan counterparty. Definisi dari peringkat yang

  counterparties. Definitions of the ratings being

  digunakan oleh Grup untuk mengevaluasi risiko

  used by the Group to evaluate credit risk of its

  kredit counterparty yang berikut:

  counterparties follows:

  Tingkat atas

  Penyelesaian yang diperoleh

  High grade Settlements are obtained from the

  counterparty following the terms of

  syarat dari kontrak tanpa

  the

  contracts without much

  banyak usaha penaggihan.

  collection effort.

  Tingkat standar

  Pihak lawan

  memiliki

  Standard grade Counterparties have the ability to

  kemampuan

  untuk

  satisfy its obligations in full.

  memenuhi

  liabilitasnya

  secara penuh.

  Tingkat di bawah

  Beberapa pengingat tindak Substandard grade Some reminder follow-ups

  standar

  lanjut yang dilakukan untuk

  are performed to obtain settlement

  memperoleh

  penyelesaian

  from the Counterparty.

  dari Pihak lawan.

  b. Risiko Mata Uang Asing

  c. b. Foreign Currency Exchange Risk

  Eksposur Grup terhadap risiko nilai tukar mata The Group’s exposure to foreign currency

  uang asing timbul terutama dari nilai wajar arus

  exchange risk arises mainly from the fair value

  kas di masa depan yang berfluktuasi pada kas

  of future cash flows pertaining to foreign-

  dan bank, piutang usaha dan utang usaha dalam

  currency denominated cash on hand and in

  mata uang dolar asing yang disebabkan karena

  banks, trade receivables and trade payables that

  perubahan kurs pertukaran mata uang asing.

  may fluctuate because of changes in foreign

  Dalam mengelola risiko, Grup meminimalisasi

  currency exchange rates. In managing the risk,

  transaksi dalam mata uang asing dan memonitor

  the Group minimizes transaction in foreign

  pergerakan nilai tukar.

  currency and monitors the movement in foreign currency exchange rate.

  Grup mendenominasikan mata uang asing untuk The Group’s foreign currency-denominated assets

  aset dan liabilitas adalah sebagai berikut:

  and liabilities are as follows:

  Kas dan setara kas

  Cash and cash equivalents

  Piutang usaha

  Trade receivables

  USD Setara

  USD Equivalent

  SGD Setara

  SGD Equivalent

  32. MANAJEMEN RISIKO KEUANGAN (Lanjutan)

  32. FINANCIAL RISK MANAGEMENT (Continued)

  b. Risiko Mata Uang Asing (Lanjutan)

  c. b. Foreign Currency Exchange Risk (Continued)

  Laba (rugi) bersih selisih kurs yang diakui untuk

  Net foreign exchange gain (loss) recognized

  tahun yang berakhir pada 31 Desember 2017 dan

  for the years ended 31 December 2017

  2016 masing-masing sebesar Rp 831.547.475 dan

  and 2016 amounted to 831,547,475 and

  Rp 643.719.080.

  Rp 643,719,080, respectively.

  Tabel berikut menunjukkan sensitivitas terhadap The following table demonstrates the sensitivity

  perubahan yang mungkin terjadi pada nilai tukar

  to a reasonably possible change in foreign

  mata uang asing, dengan semua variabel lainnya

  exchange rates, with all other variables held

  tetap konstan, pendapatan Grup sebelum pajak

  constant, of the Group’s income before income

  penghasilan. Tidak ada dampak lain pada Grup

  tax. There is no other impact on the Group’s

  selain yang sudah mempengaruhi laba sebelum

  equity other than those already affecting the

  pajak penghasilan.

  income before income tax.

  +- dalam FC ke IDR Efek pada Laba

  bunga dalam

  Sebelum Pajak

  +- in FC to IDR

  Effect on Income

  rate in

  Before Tax

  c. Risiko Likuiditas

  c. Liquidity Risk

  Eksposur Grup terhadap risiko likuiditas timbul The Group’s exposure to liquidity risk arises

  terutama dari penempatan dana dari kelebihan

  primarily from the placement of funds in excess

  penerimaan kas setelah dikurangkan dari

  of those used to support the business activities of

  penggunaan kas untuk mendukung kegiatan usaha

  the Group. The Group manages liquidity risk by

  Grup. Grup mengelola risiko likuiditas dengan

  maintaining sufficient cash flows and bank

  menjaga kecukupan arus kas dan fasilitas bank

  facilities and continuously monitoring projected

  dengan terus memonitor proyeksi arus kas dan

  cash flows and availability of funds. The Group

  ketersediaan dana. Grup juga menerapkan

  also

  implements

  prudent liquidity risk

  manajemen risiko likuiditas yang berhati-hati

  management to maintain sufficient cash balances

  dengan mepertahankan saldo kas yang cukup yang

  arising from revenue collection, place the excess

  berasal dari penagihan hasil penjualan dan

  cash in low-risk financial instruments that

  menempatkan kelebihan dana kas dalam

  provide adequate returns, and pay close

  instrumen keuangan dengan tingkat risiko yang

  attention to the reputation and credibility of

  rendah namun memberikan imbal hasil yang

  financial institutions.

  memadai serta memperhatikan reputasi dan kredibilitas lembaga keuangan.

  32. MANAJEMEN RISIKO KEUANGAN (Lanjutan)

  32. FINANCIAL RISK MANAGEMENT (Continued)

  c. Risiko Likuiditas (Lanjutan)

  c. Liquidity Risk (Continued) d.

  Tabel berikut ini merupakan ringkasan atas

  The following table is a summary of the financial

  liabilitas keuangan berdasarkan Grup pada akhir

  liabilities of the Group at the end of the

  periode pelaporan berdasarkan pembayaran

  reporting

  period

  based on undiscounted

  kontraktual sebelum didiskontokan:

  contractual payments before discounting:

  Permintaan segera atau

  antara satu tahun Immediate

  Lebih dari satu

  demand

  tahun

  or between

  More than

  one year

  one year

  Total

  Liabilitas Keuangan

  Financial Liabilities

  Utang bank jangka pendek

  Short-term bank loans

  Utang usaha

  Trade payables

  Liabilitas keuangan jangka

  Other short-term financial

  pendek lainnya

  Utang non-usaha dari pihak

  Non-trade payables from

  related parties

  Beban masih harus dibayar

  Accrued expenses

  Utang sewa pembiayaan

  Finance lease liabilities

  Utang bank jangka panjang

  Long-term bank loans

  Permintaan segera atau

  antara satu tahun Immediate

  Lebih dari satu

  demand

  tahun

  or between

  More than

  one year

  one year

  Total

  Liabilitas Keuangan

  Financial Liabilities

  Utang bank jangka pendek

  Short-term bank loans

  Utang usaha

  Trade payables

  Liabilitas keuangan jangka

  Other short-term financial

  pendek lainnya

  Utang non-usaha dari pihak

  Non-trade payables from

  related parties

  Beban masih harus dibayar

  Accrued expenses

  Utang sewa pembiayaan

  Finance lease liabilities

  Utang bank jangka panjang

  Long-term bank loans

  Termasuk pembayaran bunga Including interest payments

  33. MANAJEMEN PERMODALAN

  33. CAPITAL MANAGEMENT

  Tujuan utama dari pengelolaan modal Grup adalah

  The main objective of the Group’s capital

  untuk memastikan bahwa dipertahankannya peringkat

  management is to ensure that it maintains a strong

  kredit yang kuat dan rasio modal yang sehat

  credit rating and healthy capital ratios in order to

  agar dapat mendukung kelancaran usahanya dan

  support its business and maximize shareholder value.

  memaksimalkan nilai dari pemegang saham. Grup

  The Group manages its capital structure and makes

  adjustments with respect to changes in economic

  conditions and the characteristics of its business risks.

  perubahan kondisi ekonomi dan karakteristik dari risiko usahanya.

  Agar dapat menjaga dan menyesuaikan struktur

  In order to maintain and adjust its capital structure,

  modalnya, Grup akan menyesuaikan jumlah dari

  the Group may adjust the amount of dividend

  pembayaran dividen kepada para pemegang saham

  payments to shareholders or return of capital

  atau tingkat pengembalian modal. Tidak ada

  structure. No changes have been made in the

  perubahan dalam tujuan, kebijakan dan proses dan

  objectives, policies and processes as they have been

  sama seperti penerapan tahun-tahun sebelumnya.

  applied in previous years.

  The Group monitors capital using a gearing ratio,

  menggunakan rasio gear yaitu utang bersih dibagi

  which is net debt divided by total capital. The

  dengan total modal. Kebijakan Grup adalah menjaga

  Group’s policy is to keep the gearing ratio between

  rasio gear antara 12 - 38 masing-masing pada

  12 - 38 as of 31 December 2017 and 31 December

  tanggal 31 Desember 2017 dan 31 Desember 2016.

  2016, respectively. The Group includes within net

  Grup memasukkan utang bank jangka pendek, utang

  debt short-term bank loans, finance lease liabilities

  sewa pembiayaan dan utang bank jangka panjang,

  and long-term bank loans, less cash on hand and in

  dikurangi kas dan bank. Modal meliputi ekuitas yang

  banks. Capital includes equity attributable to the

  dapat diatribusikan kepada pemegang ekuitas Grup.

  equity holders of the Group.

  2017

  2016

  Utang bank jangka pendek

  114.063.599.833

  50.703.321.426

  Short-term bank loans

  Utang sewa pembiayaan

  12.279.154.693

  9.853.950.119

  Finance lease liabilities

  Utang bank jangka panjang

  34.799.999.966

  41.428.571.414

  Long-term bank loans

  Kas dan bank

  5.238.550.050

  6.593.262.476

  Cash on hand and in banks

  Utang neto

  155.904.204.442

  95.392.580.483

  Net debt

  Total ekuitas

  412.742.622.543 440.926.897.711

  Total equity

  Rasio gear

  37,77

  21,63

  Gearing ratio

  34. PERSIAPAN DAN PENYELESAIAN LAPORAN

  34. THE PREPARATION AND COMPLETION OF THE

  KEUANGAN KONSOLIDASIAN

  CONSOLIDATED FINANCIAL STATEMENTS

  Manajemen Perusahaan bertanggung jawab atas

  The management of the Company is responsible for

  penyusunan laporan keuangan konsolidasian ini.

  the preparation and completion of these consolidated

  Penyusunan laporan keuangan konsolidasian ini selesai

  financial statements that were completed on

  tanggal 27 Maret 2018.

  27 March 2018.