PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years ended December 31, 2005 and 2004 Expressed in rupiah, unless otherwise stated
17
3. CASH AND CASH EQUIVALENTS continued 2005
2004
ABN-AMRO Bank N.V. Euro EUR455,502
5,311,098,069 -
U.S. dollar US316,559 in 2005 and US3,907,038 in 2004
3,111,779,492 36,296,381,627
Japanese yen JP¥28,641,411 2,389,318,060
- Rupiah
1,447,689,689 3,305,942,080
The Hongkong and Shanghai Banking Corporation Ltd., Jakarta Branch
Rupiah 10,341,049,894
7,778,332,514 PT Bank Lippo Tbk.
Rupiah 7,344,525,701
1,470,388,067 Others
Rupiah 1,568,037,038
1,774,777,649 U.S. dollar US53,319 in 2005 and
US55,353 in 2004 524,125,770
514,227,512 Other foreign currencies
9,135,438 89,071,506
Rupiah time deposits PT Bank Central Asia Tbk.
59,500,000,000 3,000,000,000
ABN-AMRO Bank N.V. 27,000,000,000
105,612,550,000 PT Bank Mandiri Persero Tbk.
10,500,000,000 59,500,000,000
U.S. dollar time deposits ABN-AMRO Bank N.V. US33,206,320 in 2005
and US6,000,000 in 2004 326,418,128,164
55,740,000,000
Total 498,010,383,632
307,432,518,403
Interest rates per annum ranged from 5.00 to 14.00 in 2005 and from 4.75 to 7.93 in 2004 for the rupiah time deposits, and from 1.75 to 3.75 in 2005 and at 1.20 in 2004 for the U.S. dollar time
deposits. 4. TRADE RECEIVABLES
The details of trade receivables are as follows:
2005 2004
Related Party see Note 21 Cement business
HCT Services Asia Pte., Ltd., Singapore US4,872,610 in 2005 and
US3,335,409 in 2004 47,897,758,168
30,985,951,840
PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years ended December 31, 2005 and 2004 Expressed in rupiah, unless otherwise stated
18
4. TRADE RECEIVABLES continued 2005
2004
Third Parties Cement and ready mix concrete business
519,798,926,680 425,669,245,805
Allowance for doubtful accounts 13,835,340,496
13,822,091,743
Net 505,963,586,184
411,847,154,062
The movements of allowance for doubtful accounts are as follows:
2005 2004
Balance at beginning of year 13,822,091,743
13,332,091,743 Provision during the year
6,682,663,190 490,000,000
Receivables written off during the year 6,655,585,161
- Reversal of allowance for doubtful accounts
collected during the year 13,829,276
-
Balance at end of year 13,835,340,496
13,822,091,743
Based on the review of the status of the individual receivable accounts at the end of the year, management believes that the above allowance for doubtful accounts is sufficient to cover any possible
losses that may arise from uncollectible accounts.
Trade receivables are used as collateral for the long-term loans from banks and financial institutions see Note 11.
The aging of trade receivables based on their currency denominations as of December 31, 2005 and 2004 is as follows:
2005
Currency U.S. Dollar
Rupiah Equivalent Rupiah
Total Current
431,735,012,361 27,289,165,724 459,024,178,085
Overdue: 1 - 30 days
46,376,612,861 20,984,347,831 67,360,960,692
31 - 60 days 12,067,095,056
- 12,067,095,056 61 - 90 days
3,862,457,075 -
3,862,457,075 Over 90 days
25,381,993,940 - 25,381,993,940
Total 519,423,171,293
48,273,513,555 567,696,684,848
PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years ended December 31, 2005 and 2004 Expressed in rupiah, unless otherwise stated
19
4. TRADE RECEIVABLES continued 2004
