INFORMASI SEGMEN Lanjutan SEGMENT INFORMATION continued

PT BAKRIE SUMATERA PLANTATIONS Tbk AND SUBSIDIARIES NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS JUNE 30, 2014 AND DECEMBER 31, 2013 AND FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2014 AND JUNE 30, 2013 UNAUDITED Amounts in tables are expressed in thousands of Rupiah, unless otherwise stated 113

38. KEBIJAKAN DAN TUJUAN MANAJEMEN RISIKO KEUANGAN

38. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

Tujuan, kebijakan dan proses secara umum General objectives, policies and processes Kelompok Usaha dipengaruhi oleh berbagai risiko keuangan yaitu; risiko pasar termasuk risiko mata uang asing, risiko suku bunga dan risiko harga komoditas, risiko kredit dan risiko likuiditas. Tujuan manajemen risiko Kelompok Usaha secara keseluruhan adalah untuk secara efektif mengelola risiko tersebut dan meminimalkan dampak negatif terhadap kinerja keuangan tanpa terlalu mempengaruhi daya saing dan fleksibilitas Kelompok Usaha. Strategi untuk mendukung tujuan dan sasaran dari manajemen risiko diwujudkan melalui pembentukan dan pengembangan budaya risiko yang kuat, penerapan praktik Tata Kelola Perusahaan, pelestarian nilai-nilai kepatuhan terhadap regulasi, infrastruktur yang memadai, serta proses kerja yang terstruktur dan sehat. The Group is affected by various financial risks namely; market risk including foreign currency risk, interest rate risk and commodity price risk, credit risk and liquidity risk. The Group’s overall risk management objectives are to effectively manage these risks and minimize potential adverse effects on its financial performance without unduly affecting the Groups competitiveness and flexibility. Strategies to support the goals and objectives of risk management is actualized through the formation and development of a strong risk culture, the implementation of Good Corporate Governance practices, preserving the values of compliance with regulations, adequate infrastructure, as well as structured and healthy working processes. Dewan Direksi dan Dewan Komisaris Kelompok Usaha, melalui Komite Manajemen Risiko, memiliki tanggung jawab keseluruhan untuk penciptaan dan pengawasan atas kebijakan manajemen risiko korporasi Kelompok Usaha dan secara aktif terlibat dalam penilaian, perencanaan, peninjauan dan persetujuan dari semua risiko dalam organisasi Kelompok Usaha. The Group’s Board of Directors and Board of Commissioners, through its Risk Management Committee, have overall responsibility for the creation and oversight of the Group’s corporate risk management policy and are actively involved in the assessment, planning, review and approval of all the risks in the Group’s organization. Kelompok Usaha menerapkan Enterprise Risk Management ERM yang dikelola oleh Divisi Enterprise Audit Risk Management EARM, khususnya Departemen Enterprise Risk Management ERM, yang bertanggung jawab atas koordinasi, fasilitasi, evaluasi dan penerapan Sistem Manajemen Risiko Korporasi. Disamping itu, Departemen ERM juga memastikan bahwa Risk Control Self Assessment RCSA telah diterapkan oleh para pemilik risiko. The Group implements an Enterprise Risk Management ERM which is administered by the Enterprise Audit Risk Management EARM Division, particularly by the Enterprise Risk Management ERM Department, which is responsible for the coordination, facilitation, evaluation and implementation of the Group’s Corporate Risk Management System. In addition, the ERM department also ensures that the Risk Control Self Assessment RCSA is being implemented by risk owners. Rincian lebih lanjut mengenai Kelompok Usaha kebijakan risiko manajemen ini ditetapkan di bawah ini: Further details regarding the Group’s financial risk management policies are set out below: Risiko Kredit Credit Risk Risiko kredit adalah risiko kerugian keuangan yang timbul jika pelanggan gagal memenuhi kewajiban kontraktualnya kepada Perusahaan. Kelompok Usaha memiliki risiko kredit yang berasal dari kas dan setara kas, piutang usaha, piutang lain-lain, piutang plasma, piutang pihak berelasi dan dana yang dibatasi penggunaannya. Credit risk is the risk of suffering financial loss, should any of the Group’s customers and other third parties fail to fulfill their contractual obligations to the Group. The Group’s credit risk arises from cash, trade receivables, other receivables, due from plasma, due from related parties and restricted funds. Kelompok Usaha memitigasi risiko kredit yang timbul dari transaksi dengan pelanggan dengan memastikan bahwa penjualan produk hanya dilakukan kepada pelanggan yang layak dengan rekam jejak yang telah terbukti atau sejarah kredit yang baik. Kelompok Usaha juga menerapkan sistem pembayaran uang muka untuk penjualan domestik CPO sebanyak mungkin. The Group mitigates credit risk arising from transactions with customers by ensuring that sales of products are only made to creditworthy customers with proven track records or good credit history. The Group also implements a system of advance payments for domestic CPO sales as much as possible. PT BAKRIE SUMATERA PLANTATIONS Tbk AND SUBSIDIARIES NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS JUNE 30, 2014 AND DECEMBER 31, 2013 AND FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2014 AND JUNE 30, 2013 UNAUDITED Amounts in tables are expressed in thousands of Rupiah, unless otherwise stated 114

38. KEBIJAKAN DAN TUJUAN MANAJEMEN RISIKO KEUANGAN Lanjutan

38. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES Continued

Untuk memitigasi risiko kredit yang timbul dari dana yang ditempatkan pada bank, Kelompok Usaha menempatkan dana tersebut pada lembaga keuangan terkemuka. To mitigate the credit risk arising from funds placed with banks, the Group places such funds with reputable financial institutions. Perusahaan tidak masuk ke dalam instrumen derivatif untuk mengelola risiko kredit, walaupun langkah-langkah pencegahan harus diambil untuk beberapa kasus tertentu yang cukup terkonsentrasi, yang betujuan untuk mengurangi risiko serupa. The Group does not enter into derivatives to manage credit risk, although in certain isolated cases may take steps to mitigate such risks if it is sufficiently concentrated. Kelompok Usaha eksposur maksimum untuk risiko kredit antara lain: The Group’s maximum exposure to credit risk is as follows: 30 Juni 31 Desember June 30, December 31, 2014 2013 Kas Cash selain kas 117.462.679 116.442.177 excluding cash on hand Piutang usaha 192.006.995 154.507.483 Trade receivables Piutang lain-lain 288.236.640 320.013.866 Other receivables Piutang pihak berelasi 2.532.333.353 2.356.130.453 Due from related parties Piutang plasma 196.233.383 168.655.413 Due from plasma Investasi pada efek ekuitas 302.472.184 302.535.339 Investments in equity securities Dana yang dibatasi penggunaannya 25.312.540 26.306.457 Restricted funds Total 3.654.057.774 3.444.591.188 Total Analisis umur aset keuangan yang lewat jatuh tempo pada akhir periode pelaporan tetapi tidak mengalami penurunan nilai dan yang lewat jatuh tempo dan mengalami penurunan nilai adalah sebagai berikut: The analysis of the age of financial assets that were past due as at the end of the reporting period but not impaired and past due and impaired is as follows: Belum Jatuh Jatuh Tempo Tempo ataupun dan Mengalami Mengalami Penurunan Penurunan Nilai Nilai Neither Past Due 31-60 hari 61-90 hari 90 hari Past Due and nor Impaired 31-60 days 61-90 days 90 days Impaired TotalTotal Kas Cash selain kas 117.462.679 - - - - 117.462.679 excluding cash on hand Piutang usaha 33.373.762 894.589 240.330 157.498.314 378.012.195 570.019.190 Trade receivables Piutang lain-lain 103.604.090 - - - 11.177.706 114.781.796 Other receivables Piutang pihak berelasi 2.553.604.910 - - - 970.881.906 3.524.486.816 Due from related parties Piutang plasma 196.233.383 - - - - 196.233.383 Due from plasma Investasi pada efek Investments in equity ekuitas 302.472.184 - - - 511.353 302.983.537 securities Dana yang dibatasi penggunaannya 25.312.540 - - - - 25.312.540 Restricted funds Total 3.332.063.548 894.589 240.330 157.498.314 1.360.583.160 4.851.279.941 Total 30 Juni 2014 June 30, 2014 Telah Jatuh Tempo tetapi Tidak Mengalami Penurunan Nilai Past Due but Not Impaired