PT SAMPOERNA AGRO Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Six Months Ended June 30, 2007 and 2006
Expressed in thousands of Rupiah, unless otherwise stated
20
4. CASH AND CASH EQUIVALENTS continued
2 0 0 7 2 0 0 6
Sungai Rangit
5,185,025 -
Mutiara Bunda Jaya 9,684,000
40,000 Telaga
Hikmah 6,563,500
1,138,500 Aek
Tarum -
3,281,000 The
Company -
1,970,000 Gunung Tua Abadi
- 250,000
Total 21,432,525
6,679,500
5, TRADE RECEIVABLES
2 0 0 7 2 0 0 6
PT Aman Jaya Perdana 115,288
- CV, Sumber Alam
5,584 -
Total 120,872
-
Management believes that all trade receivables are fully collectible, and no provision for losses is necessary.
6. OTHER RECEIVABLES
2 0 0 7 2 0 0 6
Third Parties : Loan to employees
2,484,522 509,173
Due from plasma participants 187,443
202,470 Cooperative
receivable 502,210
332,015 Contractor
receivable 1,936,200
- Interest
receivable 1,409,335
- Others Note 13g
157,582 -
Total
6,677,292 1,043,658
Related Parties : Venture Max Resources Pte., Ltd.,
Singapura Notes 15 dan 24c 158,490,270
- PT Sampoerna Bio Energi Note 24d
17,178,308 -
Total 175,668,578
-
Management believes that all other receivables are fully collectible, and no provision for losses is necessary.
PT SAMPOERNA AGRO Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Six Months Ended June 30, 2007 and 2006
Expressed in thousands of Rupiah, unless otherwise stated
21
7. INVENTORIES
2 0 0 7 2 0 0 6
Finished goods:
Crude palm oil CPO 19,521,588
41,966,363 Palm kernel PK
5,934,720 2,496,365
Finished goods
of CPO
and PK
Note 19 25,456,308
44,462,728 Fertilizers, spare parts and maintenance supplies
29,497,603 20,188,166
Germinated seeds Note 19 5,947,043
7,277,586 Fresh fruit bunches FFB Note 19
1,087,090 391,679
Rubber slabs and clumps 42,738
276,672
Total 62,030,782
72,596,831
As of June 30, 2007, inventories owned by Mutiara Bunda Jaya, Aek Tarum and Gunung Tua Abadi were pledged as collateral for bank loans Note 15.
As of June 30, 2007, all inventories were covered by insurance against losses from fire and other risks under blanket policies with insurance coverage totalling Rp114,782,073, which in the management’s
opinion is adequate to cover possible losses from such risks.
Management believes that inventories are realizable, hence no provision for inventory obsolescence is necessary.
8. ADVANCES FOR PLASMA PLANTATIONS – NET
2 0 0 7 2 0 0 6
Advances for Plasma plantations Beginning
balance 47,715,493
40,804,323 Additions:
Development cost
3,589,158 3,360,877
Capitalized expenses Note 21 89,843
694,538 Deductions:
Plasma plantations transferred to Plasma participants at
the conversion
price -
2,639,607 Excessive advances over
the conversion price -
- Ending
balance 51,394,494
42,220,131 Provision for Plasma plantations
Beginning balance
2,077,830 2,077,830
Addition -
- Ending
balance 2,077,830
2,077,830
Advances, net after provision 49,316,664
40,142,301
Investment credit Begiinning
balance 7,518,816
13,490,600 Addition: Capitalized interest Note 21
89,843 694,538
Refund to the bank -
2,801,249 Assigned to Plasma participants
7,608,659 2,639,607
Ending balance
- 8,744,282
Net 49,316,664
31,398,019
PT SAMPOERNA AGRO Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Six Months Ended June 30, 2007 and 2006
Expressed in thousands of Rupiah, unless otherwise stated
22
8. ADVANCES FOR PLASMA PLANTATIONS – NET continued Advances for Plasma plantations
