PT SUMMARECON AGUNG Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of June 30, 2017 and for the Six-Month Periods Then Ended Expressed in thousands of Indonesian Rupiah, unless otherwise stated
62
27. COST OF SALES AND DIRECT COSTS CONTINUED
For periods ended June 30, 2017 and 2016, no purchases exceeding 10 of net revenues were made from any single supplier.
28. OPERATING EXPENSES
The details of operating expenses are as follows:
For the six-month periods ended June 30
2017 2016
Selling expenses
Promotion and advertising 80,091,792
70,792,166 Sales commissions
78,206,026 59,556,757
Salaries and employee benefits 7,064,990
5,965,526 Others each below Rp5,000,000
6,399,628 6,144,715
Total selling expenses 171,762,436
142,459,164
General and administrative expenses
Salaries and employee benefits 283,471,155
248,410,591 Depreciation Notes 9 and 10
48,891,471 43,056,571
Electricity, water and telephone 10,894,364
9,485,207 Entertainment, representation and donations
10,006,579 5,558,575
Professional fees 8,985,646
12,258,887 Corporate events
5,597,209 13,574,723
Otherseach below Rp10,000,000 75,197,503
61,220,384 Total general and administrative expenses
443,043,927 393,564,938
Total operating expenses 614,806,363
536,024,102 29.
FINANCE COSTS The details of finance costs are as follows:
For the six-month periods ended June 30
2017 2016
Interest expense: Loans from banks
173,398,645 157,533,928
Bonds payable 141,001,126
140,906,759 Other payables
3,993,163 1,119,799
Loans from financing institutions 353,021
352,988 Bank administration
3,298,492 2,288,908
Others each below Rp1,000,000 4,232,279
5,274,633
Total finance costs 326,276,726
307,477,015
PT SUMMARECON AGUNG Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of June 30, 2017 and for the Six-Month Periods Then Ended Expressed in thousands of Indonesian Rupiah, unless otherwise stated
63
30. BALANCES AND TRANSACTIONS WITH RELATED PARTIES
The Group, in its regular conduct of business, has engaged in transactions with related parties. The balances of the accounts and transactions are as follows:
Balance as of Percentage from
consolidated total assets liabilities
June 30, 2017
December 31, 2016
June 30, 2017
December 31, 2016
Piutang Usaha
Entity under common control PT Star Maju Sentosa
2,213,182 2,049,311
0.0104 0.0098
PT Sulisman Graha 23,689,379
36,584,099 0.1117
0.1239 Key management personnel
Harto Djojo Nagaria 1,154,661
118,055 0.0054
0.0006 Lexy Arie Tumiwa
318,496 405,689
0.0015 0.0019
Sharif Benyamin 38,505
- 0.0002
- Other related parties
PT Centrapacific Nusajaya 10,822
29,218 0.0001
0.0001
Total trade receivables 27,425,045
39,186,372 0.1293
0.1363 Due from related parties
Non-current
Joint venture PT Jakartabaru Cosmopolitan
65,812,664 63,119,824
0.3102 0.3033
Entity under common control PT Star Maju Sentosa
1,229,908 560,657
0,0058 0,0027
Total due from related parties, non-current 67,042,572
63,680,481 0.3160
0.3060
PT SUMMARECON AGUNG Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of June 30, 2017 and for the Six-Month Periods Then Ended Expressed in thousands of Indonesian Rupiah, unless otherwise stated
64
30. BALANCES AND TRANSACTIONS WITH RELATED PARTIES CONTINUED
