These consolidated financial statements are originally issued in Indonesian language.
PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2003 and 2002 Expressed in rupiah, unless otherwise stated
22
7. LONG-TERM INVESTMENTS AND ADVANCES TO ASSOCIATED COMPANIES
This account consists of long-term investments and advances to certain associated companies. The details of this account are as follows:
2003
Accumulated Percentage
Equity in Net of
Earnings Ownership
Cost Losses
- Net
Carrying Value
Investments in Shares of Stock a. Equity Method
PT Cibinong Center Industrial Estate
50.00 36,624,000,000
22,728,004,740 13,895,995,260
Stillwater Shipping Corporation 50.00
105,500,000 3,737,427,491
3,842,927,491 PT Pama Indo Mining
40.00 1,200,000,000
5,616,157,805 6,816,157,805
PT Indo Clean Set Cement 90.00
464,787,500 464,787,500
- b. Cost Method
Various investees various
20,000,000 -
20,000,000 Sub-total
38,414,287,500 13,839,206,944
24,575,080,556 Advances
PT Indo Clean Set Cement 13,720,944,026
Allowance for doubtful accounts 13,431,144,026
Net advances 289,800,000
Total 24,864,880,556
2002
Accumulated Percentage
Equity in Net of
Earnings Ownership
Cost Losses
- Net
Carrying Value
Investments in Shares of Stock a. Equity Method
PT Cibinong Center Industrial Estate
50.00 40,124,000,000
19,691,300,683 20,432,699,317
Stillwater Shipping Corporation 50.00
105,500,000 18,248,176,492
18,353,676,492 PT Indotek Engico
50.00 500,000,000
11,578,751,171 12,078,751,171
PT Pama Indo Mining 40.00
1,200,000,000 4,952,305,000
6,152,305,000 PT Indo Clean Set Cement
90.00 464,787,500
464,787,500 -
PT Indominco Mandiri 35.00
38,493,328,526 38,493,328,526
- b. Cost Method
Various investees various
2,799,506,000 -
2,799,506,000 Sub-total
83,687,122,026 23,870,184,046
59,816,937,980 Advances
PT Indo Clean Set Cement 13,789,698,006
Stillwater Shipping Corporation 2,235,000,000
PT Indotek Engico 82,834,013
Sub-total 16,107,532,019
Allowance for doubtful accounts 13,789,698,006
Net advances 2,317,834,013
Total 62,134,771,993
These consolidated financial statements are originally issued in Indonesian language.
PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2003 and 2002 Expressed in rupiah, unless otherwise stated
23
7. LONG-TERM INVESTMENTS AND ADVANCES TO ASSOCIATED COMPANIES continued
