SOURCES OF ESTIMATION UNCERTAINTY

the Indonesian language. PT CITRA TUBINDO Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN 30 Juni 2012, 31 Desember 2011 Dan 1 Januari 201131 Desember 2010 TIDAK DIAUDIT Dan Enam Bulan Yang Berakhir Pada Tanggal- tanggal 30 Juni 2012 Dan 2011 TIDAK DIAUDIT Disajikan dalam dolar AS, kecuali dinyatakan lain PT CITRA TUBINDO Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS June 30, 2012, December 31, 2011 And January 1, 2011December 31, 2010 UNAUDITED And Six Months Ended June 30, 2012 And 2011 UNAUDITED Expressed in U.S. dollars, unless otherwise stated 45 5. PIUTANG USAHA 5. TRADE RECEIVABLES Rincian piutang usaha adalah sebagai berikut: Trade receivables consist of the following: 1 Januari 2011 31 Desember 2010 30 Juni 2012 31 Desember 2011 January 1, 2011 June 30, 2012 December 31, 2011 December 31, 2010 Pihak ketiga Third parties Oudeh Petroleum Company 8.315.935 110.668 - Oudeh Petroleum Company Total EP Indonesie 6.535.779 5.582.578 2.315.383 Total EP Indonesie Lanester Offshore Inc 1.129.235 2.122.724 1.343.682 Lanester Offshore Inc Bell Tubular Products 50.206 416.598 1.509.050 Bell Tubular Products BUT Conoco Philips Grissik Ltd 14.884 2.001.851 - BUT Conoco Philips Grissik Ltd Cairn Energy India Pty Ltd - 2.555.462 1.840.454 Cairn Energy India Pty Ltd Chevron Indonesia Company - 1.430.971 - Chevron Indonesia Company Chevron Makassar Ltd - 1.312.357 - Chevron Makassar Ltd Ras Gas Company Ltd - 1.224.061 - Ras Gas Company Ltd Oil Energy Industries Oil Energy Industries Development Company - - 17.723.751 Development Company Kala Naft Co - - 4.099.315 Kala Naft Co Mobil Cepu Ltd - - 2.872.571 Mobil Cepu Ltd Virginia Indonesia Company - - 2.702.425 Virginia Indonesia Company HESS Indonesia Pangkah Ltd - - 2.387.979 HESS Indonesia Pangkah Ltd Self Elevating Platform NV - - 1.719.678 Self Elevating Platfrom NV Lain-lain masing-masing di bawah AS1.000.000 4.110.225 5.411.432 7.591.218 Others each below US1,000,000 Jumlah 20.156.264 22.168.702 46.105.506 Total Dikurangi penyisihan atas kerugian Less allowance for impairment losses penurunan nilai piutang usaha 753.772 746.916 1.164.232 on trade receivables Pihak ketiga - neto 19.402.492 21.421.786 44.941.274 Third parties - net Pihak-pihak berelasi Catatan 6 9.160.385 7.424.985 2.655.210 Related parties Note 6 Bersih 28.562.877 28.846.771 47.596.484 Net Rincian piutang usaha menurut jenis mata uang adalah sebagai berikut: The details of trade receivables based on currency are as follows: 1 Januari 2011 31 Desember 2010 30 Juni 2012 31 Desember 2011 January 1, 2011 June 30, 2012 December 31, 2011 December 31, 2010 Dolar AS 24.838.488 26.093.654 28.043.655 U.S. Dollar Dolar Singapura Singapore Dollar Sin4.352.341 pada tanggal Sin4,352,341 as of June 30, 2012, 30 Juni 2012, Sin3.358.869 Sin3,358,869 as of pada tanggal December 31, 2011 and 31 Desember 2011 dan Sin2,317,169 as of Sin2.317.169 pada tanggal January 1, 2011 1 Januari 201131 Desember 2010 3.404.283 2.583.233 1.799.150 December 31, 2010 Rupiah Rupiah Rp1.625.888.600 pada tanggal Rp1,625,888,600 as of 30 Juni 2012, June 30, 2012 Rp1.540.507.343 pada tanggal Rp1,540,507,343 as of 31 Desember 2011 dan December 31, 2011 and Rp984.937.077 pada tanggal Rp984,937,077 as of 1 Januari 201131 Desember January 1, 2011 2010 171.507 169.884 109.547 December 31, 2010 Dolar Australia Australia Dollar AUD146.044 146.722 - - AUD146,044 Euro Euro EUR1.508 pada tanggal EUR1,508 as of 30 Juni 2012 dan June 30, 2012 and EUR13.268.517 pada tanggal EUR13,268,517 as of 1 Januari 201131 Desember January 1, 2011 2010 1.877 - 17.644.132 December 31, 2010 Jumlah 28.562.877 28.846.771 47.596.484 Total the Indonesian language. PT CITRA TUBINDO Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN 30 Juni 2012, 31 Desember 2011 Dan 1 Januari 201131 Desember 2010 TIDAK DIAUDIT Dan Enam Bulan Yang Berakhir Pada Tanggal- tanggal 30 Juni 2012 Dan 2011 TIDAK DIAUDIT Disajikan dalam dolar AS, kecuali dinyatakan lain PT CITRA TUBINDO Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS June 30, 2012, December 31, 2011 And January 1, 2011December 31, 2010 UNAUDITED And Six Months Ended June 30, 2012 And 2011 UNAUDITED Expressed in U.S. dollars, unless otherwise stated 46 5. PIUTANG USAHA lanjutan 5. TRADE RECEIVABLES continued Berdasarkan analisa umur piutang, komposisi piutang usaha adalah sebagai berikut: Based on the aging, the composition of trade receivables is as follows: 1 Januari 2011 31 Desember 2010 30 Juni 2012 31 Desember 2011 January 1, 2011 June 30, 2012 December 31, 2011 December 31, 2010 Kurang dari 31 hari 18.219.061 16.348.529 40.638.611 Less than 31 days 31 - 90 hari 3.706.393 9.027.375 2.990.110 31 - 90 days 91 - 180 hari 2.666.223 3.351.145 1.124.921 91 - 180 days 181 - 360 hari 2.911.135 212.698 1.684.637 181 - 360 days Lebih dari 360 hari 1.813.837 653.940 2.322.437 More than 360 days Jumlah 29.316.649 29.593.687 48.760.716 Total Dikurangi penyisihan atas kerugian Less allowance for impairment losses penurunan nilai piutang usaha 753.772 746.916 1.164.232 on trade receivables Bersih 28.562.877 28.846.771 47.596.484 Net Mutasi penyisihan atas kerugian penurunan nilai piutang usaha adalah sebagai berikut: The changes in allowance for impairment losses on trade receivables are as follows: 1 Januari 2011 31 Desember 2010 30 Juni 2012 31 Desember 2011 January 1, 2011 June 30, 2012 December 31, 2011 December 31, 2010 Saldo awal 746.916 1.164.232 388.739 Beginning balance Perubahan selama periode berjalan Changes during the period Penambahan penyisihan 5.945 195.796 787.051 Additional provision Penghapusan piutang - 129 25.061 Write-off Selisih nilai tukar 911 1.595 13.503 Foreign exchange difference Pembalikan karena divestasi DSAW - 611.388 - Reversal due to divestment of DSAW Saldo akhir 753.772 746.916 1.164.232 Ending balance Berdasarkan hasil penelaahan kolektibilitas akun piutang pelanggan tertentu pada akhir periode dan evaluasi kolektif atas kemungkinan penurunan nilai piutang, manajemen Grup berpendapat bahwa penyisihan penurunan nilai piutang usaha cukup untuk menutup kemungkinan kerugian atas tidak tertagihnya piutang usaha. Based on a review of the collectibility of specific receivable accounts at end of the period and collective assessment of the possible impairment of receivables, the Group’s management is of the opinion that the allowance for impairment losses is adequate to cover possible losses from the non- collection of the accounts. Piutang usaha tertentu senilai Sin2.000.000 pada tanggal 31 Desember 2011 dijaminkan sehubungan dengan pinjaman bank jangka pendek dari PT Bank CIMB Niaga Tbk Catatan 12. Certain trade receivables amounting to Sin2,000,000 on December 31, 2011 are used as collateral for the short-term loan facility obtained from PT Bank CIMB Niaga Tbk Note 12.

6. TRANSAKSI DAN SALDO DENGAN PIHAK- PIHAK BERELASI

6. TRANSACTIONS AND

ACCOUNTS WITH RELATED PARTIES Dalam kegiatan usaha normal, Grup melakukan transaksi dengan pihak-pihak berelasi, terutama yang berhubungan dengan pembelian bahan baku dan bahan pembantu, subkontrak, royalti, uang muka, penggunaan fasilitas serta penjualan produk. The Group, in its regular conduct of business, has engaged in transactions with related parties principally consisting of purchases of raw materials and supplies, subcontract cost, royalty, advances, use of facilities and sales of products.