PT SAMPOERNA AGRO Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Nine Months Ended September 30, 2007 and 2006
Expressed in thousands of Rupiah, unless otherwise stated
43
27. SIGNIFICANT AGREEMENTS, COMMITMENTS AND CONTINGENCIES continued
In 2007, MBJ and TH placed deposit to BRI amounting to Rp14,969,000 to guarantee the outstanding loans of their Plasma participants to BRI. Total amount of Plasma loan that must be
settled by 903 and 349 Plasma farmers representing 1,806 hectares and 698 hectares Plasma plantation area of MBJ and TH, amounted to Rp10,573,836 and Rp9,808,256, respectively. As of
September 30, 2007, the development of Plasma plantation has not been completed yet Note 8.
d. On March 31, 2007, the Company and Sungai Rangit entered into a rental agreement with PT Buana Sakti to rent office located at Sampoerna Strategic Square 24
th
floor Note 25d. The rental term based on this agreement will start from April 1, 2007 through December 31, 2009. The
details of the rental payments commitment are as follows:
Total
2007 US
53,968 2008
US 80,424
2009 US
88,889
Total US
223,281
e. Sungai Rangit has an agreement to develop Partnership Plantation Tanaman Kemitraan with local farmers whereas Sungai Rangit financed all the development cost which incurred until the
plantation is mature Note 9a. Such development cost will be capitalized. For eleven years since the plantation is mature Sungai Rangit has an obligation to manage the plantation, to buy the
harvest with agreed purchase price and 15 of sales proceeds are contributed to farmers while the rest is returned to Sungai Rangit for maintenance cost. Partnership Plantation will be transferred to
farmers after the twelveth year since the plantation is mature.
f. On September 30, 2007, the Company and Subsidiaries have contractual construction and supply commitments which has to be settled until end of 2007 amounted to Rp1.4 billion and Rp5.5 billion,
respectively.
PT SAMPOERNA AGRO Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Nine Months Ended September 30, 2007 and 2006
Expressed in thousands of Rupiah, unless otherwise stated
44
28. OTHER RELEVANT INFORMATIONS
