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Adaro Energy Annual Report 2008 www.adaro.com
Adaro in Summary From Us to You
Running Adaro Management Report
Owning Adaro
PT ADARO ENERGY Tbk Schedule 520
FORMERLY PT PADANG KARUNIA AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2008 AND 2007 Expressed in million Rupiah, unless otherwise stated
3. ACQUISITIONS AND DISPOSALS OF SUBSIDIARIES continued
n. Acquisition of Arindo Holdings Mauritius Ltd by Rach Mauritius Ltd continued
Details of the assets and liabilities arising from this acquisition are as follows:
2008
Cash and cash equivalents 169,571
Receivables 210,902
Inventories 30,665
Fixed assets, net 423
Goodwill 3,985,825
Payables 351,599
Taxes payable 34,078
Borrowings 4,139,048
Net liabilities 127,339
Interest acquired 32
Net liabilities acquired 40,749
Goodwill 40,749
Purchase consideration through cash payment -
Cash and cash equivalents in Arindo Holdings 169,571
Net cash inflow from acquisition of subsidiary 169,571
In 2007, Arindo Holdings was in a net liability position. As a result, no loss was recognised by Rach M with respect to its 32 interest amounting to Rp 83,989. The unrecognised share of the net loss in A rindo Holdings and the minority interest’s portion
of net liabilities in Arindo Holdings was recognised by Rach M in 2008, dating from the increase of Rach M’s interest in Arindo Holdings to 64. At Group’s consolidation level, the previous unrecognis ed net loss and minority interest’s portions of
the net liabilities were recorded as a reduction in retained earnings amounting to Rp 83,989.
o. Acquisition of Ariane Investments Mezzanine Pte Ltd, Ariane Capital Singapore Pte Ltd formerly Kerry Coal
Singapore Pte Ltd and Agalia Energy Investments Pte Ltd
i. Acquisition of Ariane Investments Mezzanine Pte Ltd
On 15 July 2008, ATA acquired a 71.15 interest in AIM for Rp 6,096,115.
2008
Purchase consideration through cash payment 6,096,115
Fair value of net liabilities acquired 162,995
Mining properties and goodwill 6,259,110
Details of the assets and liabilities arising from the acquisition are as follows:
2008
Cash and cash equivalents 760
Prepaid tax 682
Investments in equity securities 1,553,790
Other assets 2
Amounts due to related parties 3,461
Accrued expenses 1,584
Tax payable 3
Loans from related parties 1,713,181
Net liabilities 162,995
Interest acquired 71.15
Minority interest 28.85
Net liabilities acquired 162,995
Adaro Energy Annual Report 2008 www.adaro.com
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Contact Us Governing Adaro
Financial Report Corporate Social Responsibility
PT ADARO ENERGY Tbk Schedule 521
FORMERLY PT PADANG KARUNIA AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2008 AND 2007 Expressed in million Rupiah, unless otherwise stated
3. ACQUISITIONS AND DISPOSALS OF SUBSIDIARIES continued
o. Acquisition of Ariane Investments Mezzanine Pte Ltd, Ariane Capital Singapore Pte Ltd formerly Kerry Coal
Singapore Pte Ltd and Agalia Energy Investments Pte Ltd continued
i. Acquisition of Ariane Investments Mezzanine Pte Ltd continued
2008
Net liabilities acquired 162,995
Mining properties 5,657,657
Goodwill 2,026,300
Deferred tax liabilities 1,424,847
Purchase consideration through cash payment 6,096,115
Cash and cash equivalents in AIM 760
Net cash outflow from acquisition of subsidiary 6,095,355
ii. Acquisition of Ariane Capital Singapore Pte Ltd formerly Kerry Coal Singapore Pte Ltd
On 15 July 2008, ATA acquired 100 interest in Ariane Capital and a previous shareholder receivable amounting to Rp 32,288 for Rp 2,230,287.
2008
Purchase consideration through cash Payment 2,230,287
Assignment of receivables from previous shareholder 32,288
Acquisition cost 2,197,999
Fair value of net liabilities acquired 32,526
Mining properties and goodwill 2,230,525
Details of the assets and liabilities arising from the acquisition are as follows:
2008
Cash and cash equivalents 2
Accrued expenses 240
Loans from shareholders 32,288
Net liabilities 32,526
Interest acquired 100
Net liabilities acquired 32,526
Mining properties 2,016,188
Goodwill 722,102
Deferred tax liabilities 507,765
Acquisition cost 2,197,999
Assignment of receivables from previous shareholder 32,288
Cash and cash equivalents in Ariane Capital 2
Net cash outflow from acquisition of subsidiary 2,230,285
By holding a 100 interest in Ariane Capital, ATA has 100 direct and indirect ownership in AIM.
