Aset dan liabilitas keuangan lanjutan Financial assets and liabilities continued Pengelolaan risiko keuangan Financial risk management

Catatan atas Laporan Keuangan Notes to the Financial Statements PT Vale Indonesia Tbk sebelumnya PT International Nickel Indonesia Tbk PT Vale Indonesia Tbk formerly PT International Nickel Indonesia Tbk 31 Desember 2012 dan 2011 December 31, 2012 and 2011 59 34. Aset dan liabilitas keuangan lanjutan 34. Financial assets and liabilities continued Nilai wajar diakui Liabilitas keuangan pada pada laba-rugi biaya perolehan diamortisasi Jumlah Fair value through Financial liabilities 31 Desember 2011 Total profit or loss at amortized cost December 31, 2011 Dalam ribuan Dolar AS US Dollars, in thousands Liabilitas keuangan: Financial liabilities: Utang usaha 84,151 - 84,151 Trade payables Akrual 36,006 - 36,006 Accruals Liabilitas imbalan kerja jangka Short-term employee benefit pendek 13,241 - 13,241 liabilities Liabilitas keuangan jangka Other current financial pendek lainnya 1,390 - 1,390 liabilities Pinjaman bank 292,153 - 292,153 Bank borrowings Jumlah liabilitas keuangan 426,941 - 426,941 Total financial liabilities 35. Pengelolaan risiko keuangan 35. Financial risk management Aktivitas Perseroan terpengaruh oleh berbagai jenis risiko keuangan: risiko pasar termasuk risiko nilai tukar, risiko harga dan risiko tingkat suku bunga, risiko kredit, dan risiko likuiditas. Secara umum, program pengelolaan risiko keuangan Perseroan berfokus kepada ketidakpastian pasar keuangan dan berusaha meminimalkan efek tidak wajar terhadap kinerja keuangan Perseroan. The Company’s activities expose it to a variety of financial risks: market risk including foreign exchange risk, price risk and interest rate risk, credit risk and liquidity risk. The Company’s overall financial risk management program focuses on the unpredictability of financial markets and seeks to minimize potential adverse effects on the financial performance of the Company. Pengelolaan risiko dilakukan oleh Direksi Perseroan. Direksi mengidentifikasi, mengevaluasi dan mengatur risiko keuangan, sesuai keperluan. Direksi menyediakan prinsip-prinsip keseluruhan untuk pengelolaan risiko, termasuk risiko pasar, risiko kredit dan risiko likuiditas. Risk management is carried out by the Company’s Board of Directors. The Board identifies, evaluates and manages financial risks, where considered appropriate. The Board of Directors provides principles for overall risk management, including market risk, credit risk and liquidity risks. Manajemen risiko permodalan Capital risk management Tujuan Perseroan dalam pengelolaan permodalan adalah untuk mempertahankan kelangsungan usaha Perseroan guna memberikan imbal hasil kepada pemegang saham dan manfaat kepada pemangku kepentingan lainnya serta menjaga struktur modal yang optimal dan mengurangi untuk mengurangi biaya modal. The Company’s objective when maintaining capital is to safeguard the Company’s ability to continue as a going concern in order to provide returns for shareholders and benefits for other stakeholders and to maintain an optimal capital structure to reduce the cost of capital. Konsisten dengan entitas lain dalam industri yang sama, Perseroan memonitor permodalan berdasarkan rasio gearing. Rasio ini dihitung dengan membagi jumlah utang neto dengan jumlah modal. Utang neto dihitung dari jumlah pinjaman dikurangi kas dan setara kas. Jumlah modal dihitung dari “ekuitas” seperti yang ada pada laporan posisi keuangan ditambah utang neto. Consistent with others in the industry, the Company monitors capital on the basis of the gearing ratio. This ratio is calculated as net debt divided by total capital. Net debt is calculated as total borrowings as shown in the statements of financial position less cash and cash equivalents excluding restricted cash. Total capital is calculated as “equity” as shown in the statements of financial position plus net debt. Strategi Perseroan selama tahun 2012 dan 2011 adalah mempertahankan rasio gearing berkisar di atas 15. Rasio gearing pada tanggal 31 Desember 2012 dan 31 Desember 2011 adalah sebagai berikut: The Company’s strategy, during 2012 and 2011, was to maintain the gearing ratio within up to 15. The gearing ratios as at December 31, 2012 and December 31, 2011 were as follows: 31 Desember 2012 2011 December 31 Dalam ribuan Dolar AS US Dollars, in thousands Pinjaman bank Catatan 17 255,634 292,153 Bank borrowings Note 17 Dikurangi: Less: Kas dan setara kas 172,239 399,155 Cash and cash equivalents Utang neto 83,395 107,002 Net debt Jumlah ekuitas 1,721,434 1,769,169 Total equity Jumlah modal 1,804,829 1,662,167 Total capital Rasio gearing 5 6 Gearing ratio Perubahan atas rasio gearing selama 2012 terutama dikarenakan penurunan kas dan setara kas yang mengakibatkan perubahan dalam utang neto. The change in the gearing ratio during 2012 resulted primarily from the decrease in cash and cash equivalents which resulted in the change in net debt. Catatan atas Laporan Keuangan Notes to the Financial Statements PT Vale Indonesia Tbk sebelumnya PT International Nickel Indonesia Tbk PT Vale Indonesia Tbk formerly PT International Nickel Indonesia Tbk 31 Desember 2012 dan 2011 December 31, 2012 and 2011 60 35. Pengelolaan risiko keuangan lanjutan 35. Financial risk management continued