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 515
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
d. Disposal of PT Padang Anugerah
On 28 February 2007, the Company disposed of all of its 90 interest in PT Padang Anugerah “PA” for Rp 1,125 to PT Bumi Alam Sejahtera “BAS” and PT Anugerah Kasih “AK”. This disposal was accounted for as required under SFAS No. 38
Revised 2004, since the Company, BAS and AK are entities under common control.
2007
Cash and cash equivalents 1
Amounts due from related parties 1,231
Net assets 1,232
Interest disposed of 90
Net assets disposed of 1,109
Adjustment to net assets disposed of: - Difference in value from restructuring transactions of entities under common control
16 Cash received from disposal of subsidiary
1,125 Cash and cash equivalents in PA
1 Net cash inflow from disposal of subsidiary
1,124
e. Disposal of PT Padang Sejahtera
On 28 February 2007, the Company disposed of all of its interest in PT Padang Sejahtera “PS” of 67 to BAS for Rp 838. This disposal was accounted for as required under SFAS No. 38 Revised 2004, since the Company and BAS are entities
under common control.
2007
Cash and cash equivalents 2
Amounts due from related parties 1,203
Net assets 1,205
Interest disposed of 67
Net assets disposed of 807
Adjustment to net assets disposed of: - Difference in value from restructuring transactions of entities under common control
31 Cash received from disposal of subsidiary
838 Cash and cash equivalents in PS
2 Net cash inflow from disposal of subsidiary
836
f. Disposal of PT Padang Berkat
On 28 February 2007, the Company disposed of all of its 90 interest in PT Padang Berkat “PB” to BAS and AK for Rp 1,125. This disposal was accounted for as required under SFAS No. 38 Revised 2004, since the Company, BAS and AK
are entities under common control.
2007
Cash and cash equivalents 2
Amounts due from related parties 1,230
Net assets 1,232
Interest disposed of 90
Net assets disposed of 1,109
Adjustment to net assets disposed of: - Difference in value from restructuring transactions of entities under common control
16 Cash received from disposal of subsidiary
1,125 Cash and cash equivalents in PB
2 Net cash inflow from disposal of subsidiary
1,123
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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 516
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
g. Disposal of PT Padang Mulia
On 28 February 2007, the Company disposed of all of its 90 interest in PT Padang Mulia “PM” to BAS and AK for Rp 1,125. This disposal was accounted for as required under PSAK No. 38 Revised 2004, since the Company, BAS and AK
are entities under common control.
2007
Cash and cash equivalents 11
Prepayments 46
Amounts due from related parties 625
Fixed assets, net 69
Deferred expenses, net 8,525
Trade payables 1,515
Taxes payable 254
Amounts due to related parties 6,736
Net assets 771
Interest disposed of 90
Net assets disposed of 694
Adjustment to net assets disposed of: - Difference in value from restructuring transactions of entities under common control
1,272 - Adjustment to the net assets of the subsidiary eliminated previously in the consolidation process
841 Cash received from disposal of subsidiary
1,125 Cash and cash equivalents in PM
11 Net cash inflow from disposal of subsidiary
1,114
h. Disposal of PT Talenta Bumi
On 23 February 2007, the Company disposed of all of its 70 interest in PT Talenta Bumi “TB” to BAS and AK for Rp 175. This disposal was accounted for as required under SFAS No. 38 Revised 2004, since the Company, BAS and AK are
entities under common control.
2007
Net liabilities disposed of 49,189
Adjustment to net liabilities disposed of: - Difference in value from restructuring transactions of entities under common control
56,367 - Adjustment to the net assets of the subsidiary eliminated previously in the consolidation process
7,003 Cash received from disposal of subsidiary
175 Cash and cash equivalents in TB
92 Net cash inflow from disposal of subsidiary
83
i. Disposal of PT Anugerah Kasih
On 23 February 2007, the Company disposed of all of its interest in AK to Theodore Permadi Rachmat and Garibaldi Thohir the “Buyers” for Rp 990. The disposal was accounted for as required under SFAS No. 38 Revised 2004, since the Buyers
are controlling parties of the Company.
2007
Cash and cash equivalents -
Amounts due from related parties 1,000
Net assets 1,000
Interest disposed of 99
Net assets disposed of 990
