PT. TUNAS BARU LAMPUNG Tbk AND ITS SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
SEPTEMBER 30, 2009 AND 2008 AND FOR THE NINE MONTHS PERIOD THEN ENDED Continued
- 26 - 14. ADVANCED RECEIVED
As of September 30, 2009 and 2008, cash advances from customers in Rupiah representing down payments for the sale of term used right in kiosks, shophouses and plaza are received from related
parties Note 23, meanwhile, advances from sales of palm and its derivative products are received from third parties.
As of September 30, 2009 and 2008, advances received in foreign currency amount US 55.888 thousand and US 50.259 thousand.
15. LONG – TERM BANK LOANS – POWER PLANT
This account represent long term bank loans from Bank Mandiri due to the power plant project. Note 26 Total LC matured as of September 30, 2009 were amounted :
PT. TUNAS BARU LAMPUNG Tbk AND ITS SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
SEPTEMBER 30, 2009 AND 2008 AND FOR THE NINE MONTHS PERIOD THEN ENDED Continued
- 27 - 16. LONG
– TERM BANK LOANS
Syndicated Loan - Rabobank In relation to the credit facility agreement dated June 29, 2007 between the Company and several
creditor banks, PT Bank Rabobank International Indonesia as arrangers, the Company obtained a term loan facility with a maximum credit amounted to US 70,000,000, which will be due in 5 years
since the date of the facility agreement .This loan was used for working capital requirements and
refinancing of the Company‟s loans . This loan is secured with fixed assets and plantations of BTLA, corporate guarantees from BSA, BNIL and BDP, Inventories and receivables of the
Company which are shared with PT Bank Mandiri Persero Tbk and PT Bank Rakyat Indonesia Persero Tbk.
The installment payment of principal of syndicated loan will start on the 15
th
month and will be paid quarterly. The periods are 5 years 60 months for Loan A and 3 years 36 months for Loan B.
The followings are the payment schedule of syndicated loans:
PT. TUNAS BARU LAMPUNG Tbk AND ITS SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
SEPTEMBER 30, 2009 AND 2008 AND FOR THE NINE MONTHS PERIOD THEN ENDED Continued
- 28 - Bank Mandiri
The loan facility with Bank Mandiri represent investment loan received by the Company amounting to US 5.964.882. This facility was used to finance the power plant project with total value of
investment amounting to US 11.450.000. Interest rate for the investment loans was 9,75 per annum. This facility will mature in the second quarter of 2011.
Bank Rakyat Indonesia Persero Tbk On September 7, 2006, the Company obtained investment loan KI facility from BRI amounting to
Rp 303.400.000 thousand which consist of KI Plantation amounting to Rp 211.400.000 thousand and KI CPO Mill amounting to Rp 92.000.000 thousand. Included in the KI facilities are interest
During Construction IDC amounting to Rp 45.500.000 thousand for KI Plantation and Rp 13.000.000 thousand for KI CPO Mill. The Investment loan is used to finance the 9.500
hectares of palm plantation and 1 unit CPO Mill located in Banyuasin, South Sumatera. This loan facility has a term of 9 years with a grace period of 4,5 years for palm plantation and 5,5 years for
palm factory, which will start from the date of the signing of credit agreement. Interest rate per annum is 15 which can be charged at any time following the current market interest rate in BRI.
The investment loan is secured with palm plantation project in Banyuasin and similar collaterals for short term loan facility received from BRI note 13 which consist of trade account receivable ,
inventories, land including palm plantation located in Terbanggi Besar, plant, machineries, and personal guarantees from Widarto and Santoso Winata note 23. The collaterals for trade
receivable and inventories represent part of joint collateral paripassu with Bank Mandiri and syndicated loan which is coordinated by Rabobank.
The investment loan facility was started to be availed of in 2007. As of September 30, 2009, outstanding loan amounted to Rp 65.425.000 thousand for KI principal and Rp 11.656.195
thousand for KI IDC
17. CAPITAL STOCK
