PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
September 30, 2004 and 2003 Expressed in rupiah, unless otherwise stated
31
10. TAXATION continued 2004
2003
Deferred tax liabilities: Company
Property, plant and equipment 568,304,584,962 506,978,403,480
Subsidiaries 789,760,092
87,214,255 Total
569,094,345,054 506,891,189,225 Net deferred tax assets
Company -
505,879,048 Subsidiaries
2,847,679,578 4,680,593,107
Total 2,847,679,578
5,186,472,155
Net deferred tax liabilities Company
88,998,485,680 -
Subsidiaries 159,546,143
-
Total 89,158,031,823
-
Management believes that the above deferred tax assets can be fully recovered in future periods. 11. LONG-TERM LOANS FROM BANKS AND FINANCIAL INSTITUTIONS
This account consists of loans from:
2004 2003
Third Parties Rupiah
124,347,748,284 142,329,113,033
U.S. dollar 2,145,772,439,611 2,948,975,092,966
Japanese yen 2,645,893,676,022 2,710,898,495,138
Total - Third Parties 4,916,013,863,917 5,802,202,701,137
Related Parties U.S. dollar
104,822,813,505 109,783,184,724
Total 5,020,836,677,422 5,911,985,885,861
Less portions currently due 678,580,000,000
440,422,500,000
Long-term portion 4,342,256,677,422 5,471,563,385,861
PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
September 30, 2004 and 2003 Expressed in rupiah, unless otherwise stated
32
11. LONG-TERM LOANS FROM BANKS AND FINANCIAL INSTITUTIONS continued
The balances of the above loans in their original currencies are as follows:
2004 2003
Rupiah Third parties
PT Bank Central Asia Tbk. BCA 79,545,543,819
91,048,264,675 PT Bank Mandiri Persero Tbk.
35,089,168,636 40,163,254,405
JPMorgan Europe Ltd., London 9,713,035,829
11,117,593,953
Total rupiah loans 124,347,748,284
142,329,113,033
Japanese yen Third parties
Marubeni Corporation, Tokyo JP¥ 27,027,196,856 JP¥ 29,239,885,702
Japan Bank for International Corporation, Tokyo 4,990,374,503
6,653,836,503
Total Japanese yen loans JP¥ 32,017,571,359 JP¥ 35,893,722,205
U.S. dollar Third parties
PT Bank Central Asia Tbk. BCA US
54,169,001 US 40,816,789
Mizuho Global Ltd., Tokyo 25,780,949
29,502,602 Barclays Bank PLC
22,401,789 -
BNP Paribas, Singapore Branch 15,488,385
17,731,331 Deutsche Bank AG, London
14,898,176 37,554,207
Mizuho Asset Trust Banking Co., Ltd., Tokyo 14,842,058
16,984,318 Credit Industriel et Commercial, Singapore
11,371,836 18,092,404
Kawasaki Heavy Industries Limited, Tokyo 10,298,518
11,791,521 JPMorgan Chase Bank, NY IBF
5,069,687 32,556,702
Credit Suisse First Boston Int’l, London 611,621
13,969,179 Avenue Asia Special Situations Fund II, LP, USA
- 12,950,635
Other creditors each below US 10 million
59,067,156 119,579,112
Related parties Westdeutsche Landesbank
Girozentrale, Tokyo Branch 9,697,067
11,102,876 WestLB Asia Pacific Ltd., Singapore
1,733,992 1,983,687
Total U.S. dollar loans US
245,430,235 US 364,615,363
The interest rates per annum for the above indebtedness are as follows:
2004 2003
Rupiah 7.81 - 9.37 10.50 - 15.00
U.S. dollar 3.12 - 3.63
3.11 - 4.72 Japanese yen
2.30 - 3.80 2.30 - 3.70
PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
September 30, 2004 and 2003 Expressed in rupiah, unless otherwise stated
33
11. LONG-TERM LOANS FROM BANKS AND FINANCIAL INSTITUTIONS continued
