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 513
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
a. Acquisition of PT Saptaindra Sejati continued
The restructuring transactions on 3 April 2008 between the Company, PCI and SRIS, were accounted for using the pooling-of- interests method as required under SFAS No. 38 Revised 2004, since the Co mpany, PCI and SRIS are entities under
common control. The details of the book value of the net assets acquired and the difference arising from the restructuring transaction of entities under common control are as follows:
2008
Purchase consideration through cash payment 127,022
Book value of net assets acquired 115,407
Difference in value from restructuring transactions of entities under common control 11,615
The details of net assets acquired from the transaction with CSP and the adjustme nt to fixed assets acquired are as follows:
2008
Purchase consideration through cash payment 31,754
Book value of net assets acquired 28,850
Adjustment to fixed assets 2,904
Goodwill -
b. Acquisition of PT Alam Tri Abadi
On 3 January 2008, ATA increased its issued and paid in capital through the issuance of 1,500,000 new shares with a par value of Rp 1,000,000 full amount per share. The Company acquired all the new shares issued, and the Company’s interest
in ATA increased from 49.99 to 92.02. The restructuring transaction of 3 January 2008 was accounted for using the pooling-of-interests method as required under
SFAS No. 38 Revised 2004, since the Company and ATA are entities under common control. Details of the book value of net assets acquired and the difference arising from this restructuring transaction of entities under common control are as follows:
2008
Purchase consideration through cash payment 1,500,000
Book value of net assets acquired 1,462,282
Difference in value from restructuring transactions of entities under common control 37,718
On 15 July 2008, ATA increased its issued and paid in capital through the issuance of 10,863,438 new shares with a par value of Rp 1,000,000 full amount per share. The Company acquired all the new shares issued for Rp 10,863,438, and the
Company’s interest in ATA increased from 92.02 to 98.87. The restructuring transaction of 15 July 2008 was accounted for using the pooling-of-interests method as required under
SFAS No. 38 Revised 2004, since the Company and ATA are entities under common control. The details of the book value of net assets acquired and the difference arising from this restructuring transaction of entities under common control are as
follows:
2008
Purchase consideration through cash payment 10,863,438
Book value of net assets acquired 10,872,310
Difference in value from restructuring transactions of entities under common control 8,872
On 15 July 2008, the Company increased its ownership in ATA through the acquisition of the shares of SRIS and PCI in ATA, amounting to 94,951 shares and 47,477 shares, respectively, with a total acquisition amount of Rp 356,000. Through these
transactions, the Company’s interest in ATA increased from 98.87 to 100.00.
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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 514
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
b. Acquisition of PT Alam Tri Abadi continued
The restructuring transaction of 15 July 2008 was accounted for using the pooling-of-interests method as required under SFAS No. 38 Revised 2004, since the Company and ATA are entities under common control. The details of the book value
of net assets acquired and the difference arising from this restructuring transaction of entities under common control are as follows:
2008
Purchase consideration through cash payment 356,000
Book value of net assets acquired 143,886
Difference in value from restructuring transactions of entities under common control 212,114
c. Acquisition of PT Makmur Sejahtera Wisesa
On 15 January 2008, MSW increased its issued and paid in capital through the issuance of 887,405 new shares with a par value of Rp 50,000 full amount per share. The Company acquired 443,703 of the new shares issued amounting to
Rp 22,185, and the Company’s interest in MSW increased from 45.00 to 49.80. On 24 January 2008, the Company acquired an additional 49.80 interest in MSW through purchases from PT Saratoga
Sentra Business “SSB” and PCI, each of 24.90 for Rp 11,524.50, and the Company’s interest in MSW increased from 49.80 to 99.60. For this acquisition, the Company paid Rp 864 in cash and issued new shares in the Company amounting
to Rp 22,185.
The restructuring transactions of January 2008 were accounted for using the pooling -of-interests method as required under SFAS No. 38 Revised 2004, since the Company, SSB and PCI are entities under common control. The details of the book
value of the net assets acquired and the difference arising from restructuring transaction of entities under common control are as follows:
2008
Purchase consideration through cash payment 23,049
Purchase consideration through exchange of the Company’s new shares 22,185
45,234 Book value of net assets acquired
43,193 Difference in value from restructuring transactions of entities under common control
2,041 Difference in value from restructuring transactions of entities under common control - 2005
212 Difference in value from restructuring transactions of entities under common control - 2008
2,041 Difference in value from restructuring transactions of entities under common control
2,253 On 26 September 2008, MSW increased its issued and paid in capital through the issuance of 3,496,000 new shares with a
par value of Rp 50,000 full amount per share. The Company acquired all the new shares issued, and the Company’s interest in MSW increased from 99.60 to 99.91. The details of the net assets acquired and goodwill are as follows:
2008
Purchase consideration through cash payment 174,800
Net assets acquired 174,782
Goodwill 18
On 23 December 2008, MSW increased its issued and paid in capital through the issuance of 437,535 new shares with a par value of Rp 50,000 full amount per share. The Company acquired 437,535 of the new shares issued amounting to
Rp 21,877, and the Company’s interest in MSW increased from 99.91 to 99.92.
2008
Purchase consideration through cash payment 21,877
Net assets acquired 21,877
Goodwill -
