CRITICAL ACCOUNTING JUDGMENTS AND

CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN 31 DESEMBER 2015, 2014 DAN 1 JANUARI 2014 31 DESEMBER 2013 SERTA UNTUK TAHUN-TAHUN YANG BERAKHIR PADA 31 DESEMBER 2015 DAN 2014 Lanjutan NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2015, 2014 AND JANUARY 1, 2014 DECEMBER 31, 2013 AND FOR THE YEARS ENDED DECEMBER 31, 2015 AND 2014 Continued - 48 -

5. KAS DAN SETARA KAS

5. CASH AND CASH EQUIVALENTS

2015 2014 Rp’000 Rp’000 Kas 3.239.443 3.452.426 Cash on hand Bank Cash in banks Rupiah Rupiah Bank Central Asia 27.290.877 123.000.219 Bank Central Asia Bank CIMB Niaga 16.444.912 13.488.738 Bank CIMB Niaga Bank Maybank Indonesia dh Bank Maybank Indonesia formerly Bank Internasional Indonesia 9.448.981 93.600.434 Bank Internasional Indonesia Bank Negara Indonesia 7.781.843 25.205.490 Bank Negara Indonesia Bank Pan Indonesia 5.986.810 10.594.321 Bank Pan Indonesia Bank Permata 4.051.869 7.370.090 Bank Permata Bank Mandiri 2.034.516 7.844.749 Bank Mandiri Lain - lain masing-masing Others each below dibawah Rp 5.000.000 ribu 649.956 3.337.185 Rp 5,000,000 thousand Dollar Amerika Serikat U.S. Dollar Bank Maybank Indonesia dh Bank Maybank Indonesia formerly Bank Internasional Indonesia 3.618.689 11.578.916 Bank Internasional Indonesia Lain - lain masing-masing Others each below dibawah Rp 5.000.000 ribu 6.224.172 10.620.680 Rp 5,000,000 thousand Euro Euro Bank CIMB Niaga 4.598.922 - Bank CIMB Niaga Deposito berjangka Time deposits Rupiah Rupiah Bank Maybank Indonesia dh Bank Maybank Indonesia formerly Bank Internasional Indonesia 1.673.041.235 1.888.359.341 Bank Internasional Indonesia Bank Negara Indonesia 276.723.906 365.550.000 Bank Negara Indonesia Bank Permata 200.567.263 693.021.113 Bank Permata Bank CIMB Niaga 77.217.366 94.398.601 Bank CIMB Niaga Bank UOB 61.068.227 66.500.000 Bank UOB Bank Hana 55.549.886 - Bank Hana Bank Central Asia 12.948.464 24.100.000 Bank Central Asia Bank Mega 5.000.000 40.000.000 Bank Mega Bank Pan Indonesia - 277.982.760 Bank Pan Indonesia Bank Jabar Banten - 50.000.000 Bank Jabar Banten Lain - lain masing-masing Others each below dibawah Rp 20.000.000 ribu 29.174.726 38.280.364 Rp 20,000,000 thousand Dollar Amerika Serikat U.S. Dollar Bank Maybank Indonesia dh Bank Maybank Indonesia formerly Bank Internasional Indonesia 400.797.763 410.263.674 Bank Internasional Indonesia Bank Permata - 58.468.000 Bank Permata Bank Pan Indonesia - 28.839.591 Bank Pan Indonesia Lain - lain masing-masing Others each below dibawah Rp 20.000.000 ribu 13.343.936 - Rp 20,000,000 thousand Jumlah 2.896.803.762 4.345.856.692 Total Danacadangan untuk penggantian Fundsreserve for replacement of perabotan dan perlengkapan hotel furniture and equipment Catatan 12 2.520.527 9.493.784 Note 12 Bersih 2.894.283.235 4.336.362.908 Net Tingkat bunga deposito berjangka Interest rate per annum on time per tahun deposits Rupiah 4,60 - 11,00 4,25 - 11,00 Rupiah Dollar Amerika Serikat 0,25 - 2,00 0,65 - 3,00 U.S. Dollar 31 DesemberDecember 31, Seluruh saldo bank dan deposito berjangka ditempatkan pada pihak ketiga. All cash in banks and time deposits are placed with third parties. CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN 31 DESEMBER 2015, 2014 DAN 1 JANUARI 2014 31 DESEMBER 2013 SERTA UNTUK TAHUN-TAHUN YANG BERAKHIR PADA 31 DESEMBER 2015 DAN 2014 Lanjutan NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2015, 2014 AND JANUARY 1, 2014 DECEMBER 31, 2013 AND FOR THE YEARS ENDED DECEMBER 31, 2015 AND 2014 Continued - 49 -

6. PIUTANG USAHA KEPADA PIHAK KETIGA

6. TRADE ACCOUNTS RECEIVABLE FROM THIRD

PARTIES 2015 2014 Rp’000 Rp’000 Penjualan Sales Apartemen 276.363.027 816.780.516 Apartments Kios dan toko 260.839.437 188.923.476 Kiosk and counter Rumah tinggal 102.963.058 66.151.537 Houses Ballroom 81.610.158 - Ballroom Rumah kantor 80.827.343 49.980.257 Home office Rumah toko 40.348.524 12.848.668 Shophouses Perkantoran 29.002.093 42.088.313 Offices Pendapatan Revenues Sewa 48.040.107 39.047.204 Rental Hotel 21.242.289 24.131.706 Hotel Jumlah 941.236.036 1.239.951.677 Total Cadangan kerugian penurunan nilai 357.847 367.207 Allowance for impairment losses Bersih 940.878.189 1.239.584.470 Net 31 DesemberDecember 31, Piutang usaha berdasarkan umur piutang yang tidak diturunkan nilainya adalah sebagai berikut: Aging of trade accounts receivable, which are not impaired, are as follows: 2015 2014 Rp’000 Rp’000 Belum jatuh tempo 866.900.800 980.678.071 Not yet due Jatuh tempo Past due 1 - 30 hari 40.604.200 237.225.495 1 - 30 days 31 - 60 hari 10.995.786 7.424.112 31 - 60 days 61 - 90 hari 4.408.950 4.338.071 61 - 90 days 91 - 120 hari 14.206.889 7.783.033 91 - 120 days Lewat 120 hari 3.761.564 2.135.688 More than 120 days Bersih 940.878.189 1.239.584.470 Net 31 DesemberDecember 31, Seluruh piutang usaha kepada pihak ketiga merupakan piutang dalam mata uang Rupiah, kecuali sebesar Rp 12.901.776 ribu dan Rp 29.020.500 ribu pada tahun 2015 dan 2014 merupakan piutang dalam mata uang Dollar Amerika Serikat. All trade accounts receivable from third parties are denominated in Rupiah, except for Rp 12,901,776 thousand and Rp 29,020,500 thousand in 2015 and 2014, which are denominated in U.S. Dollar. Piutang usaha atas penjualan apartemen, rumah kantor dan perkantoran terutama berasal dari selisih kurang penerimaan dari pelanggan dengan pengakuan pendapatan berdasarkan persentase penyelesaian proyek. Trade accounts receivable from sale of apartments, home office and offices mainly are derived from the excess of revenue recognized based on percentage of completion over the advances received from customers. Piutang usaha dari penjualan rumah tinggal, kios dan toko dan rumah toko merupakan tagihan atas penjualan proyek Green Lake Sunter, Grand Taruma Karawang, Green Permata, Vimala Hills, The Plaza Balikpapan, Plaza Kenari Mas, Harco Glodok, Green Bay dan Orchard Park Batam. Trade accounts receivable from sale of houses, kiosk and counter and shophouses are derived from the sale of residential project Green Lake Sunter, Grand Taruma Karawang, Green Permata, Vimala Hills, The Plaza Balikpapan, Plaza Kenari Mas, Harco Glodok, Green Bay and Orchard Park Batam. CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN 31 DESEMBER 2015, 2014 DAN 1 JANUARI 2014 31 DESEMBER 2013 SERTA UNTUK TAHUN-TAHUN YANG BERAKHIR PADA 31 DESEMBER 2015 DAN 2014 Lanjutan NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2015, 2014 AND JANUARY 1, 2014 DECEMBER 31, 2013 AND FOR THE YEARS ENDED DECEMBER 31, 2015 AND 2014 Continued - 50 - Piutang usaha atas penjualan ballroom berasal dari proyek Green Bay KUS. Trade accounts receivable ballroom was from Green Bay project KUS. Piutang sewa berasal dari sewa area pusat perbelanjaan. Piutang usaha hotel merupakan tagihan kepada tamu hotel dan biro perjalanan. Trade accounts receivable from rental are derived from mall rents. Trade accounts receivable from hotel are derived from charges to hotel guests and travel agents. Pada tanggal 31 Desember 2015 dan 2014 piutang usaha masing-masing sebesar Rp 267.196.743 ribu dan Rp 425.544.734 ribu digunakan sebagai jaminan utang bank Catatan 20. As of December 31, 2015 and 2014, trade accounts receivable amounting to Rp 267,196,743 thousand and Rp 425,544,734 thousand, respectively, are used as collateral for credit facilities of bank loan Note 20. Cadangan kerugian penurunan nilai sebesar Rp 357.847 ribu dan Rp 367.207 ribu pada tahun 2015 dan 2014 timbul dari piutang kepada pihak ketiga karena kebijakan manajemen terutama hotel untuk mencadangkan kerugian sebesar persentase tertentu untuk jangka waktu yang melebihi 90 hari. Allowance for impairment losses arise from trade receivables from third parties amounting to Rp 357,847 thousand and Rp 367,207 thousand in 2015 and 2014, arising from management policy especially hotel to reserve a certain percentage of loss for receivables that are past due for more than 90 days. Berdasarkan penelaahan atas status masing-masing piutang pada akhir tahun, manajemen memutuskan bahwa cadangan kerugian penurunan nilai atas piutang usaha adalah cukup karena tidak terdapat perubahan signifikan terhadap kualitas kredit dan jumlah tersebut masih dapat ditagih. Based on the review to each status of the receivable, management believes that the allowance for impairment losses is adequate because there are no significant changes in credit quality and all trade accounts receivable are collectible.

7. PIUTANG DAN UTANG LAIN-LAIN KEPADA PIHAK

BERELASI Piutang

7. OTHER ACCOUNTS RECEIVABLE FROM AND

PAYABLE TO RELATED PARTIES Accounts Receivable 2015 2014 Rp’000 Rp’000 PT Sejahtera Kelola Abadi SKA 9.567.128 17.833.047 PT Sejahtera Kelola Abadi SKA PT Central Prima Kelola CPK 4.742.426 8.085.673 PT Central Prima Kelola CPK Lain-lain 4.463.725 1.776.318 Others Jumlah 18.773.279 27.695.038 Total 31 DesemberDecember 31, Piutang lain-lain kepada SKA merupakan biaya-biaya yang dibayarkan terlebih dahulu oleh entitas anak, ASA. Piutang ini dikenakan bunga 11 per tahun. Accounts receivable from SKA represents advance payments of expenses made by the subsidiary, ASA. These other accounts receivable are subject to interests of 11 per annum. Piutang lainnya terutama merupakan biaya-biaya yang dibayarkan terlebih dahulu oleh Grup. Other accounts receivable from related parties mainly represent advance payments of expenses made by the Group. Manajemen berpendapat bahwa piutang lain-lain kepada pihak berelasi dapat ditagih seluruhnya. Management believes that all the other accounts receivable from related parties are fully collectible. CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN 31 DESEMBER 2015, 2014 DAN 1 JANUARI 2014 31 DESEMBER 2013 SERTA UNTUK TAHUN-TAHUN YANG BERAKHIR PADA 31 DESEMBER 2015 DAN 2014 Lanjutan NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2015, 2014 AND JANUARY 1, 2014 DECEMBER 31, 2013 AND FOR THE YEARS ENDED DECEMBER 31, 2015 AND 2014 Continued - 51 - Utang Accounts Payable 2015 2014 Rp’000 Rp’000 PT Sakti Kelola Persada SKP 8.660.556 30.270 PT Sakti Kelola Persada SKP PT Pandega Citra Kelola PCK 5.911.043 6.396.373 PT Pandega Citra Kelola PCK PT Indofica 2.504.350 2.504.350 PT Indofica Lain-lain 2.537.850 2.919.349 Others Jumlah 19.613.799 11.850.342 Total 31 DesemberDecember 31, Utang kepada PCK merupakan penerimaan terlebih dahulu pembayaran jasa pengelolaan dari para penyewa Mal The Plaza Balikpapan oleh entitas anak, PCN. Other accounts payable to PCK represents advances received for the service charges of tenants of The Plaza Balikpapan by the subsidiary, PCN. Utang kepada SKP merupakan penerimaan terlebih dahulu pembayaran jasa pengelolaan dari para penyewa Mal Festival Citylink oleh entitas anak, BSP. Other accounts payable to SKP represents advances received for the service charges of tenants of Festival Citylink Mall by the subsidiary, BSP. Utang lainnya merupakan pembayaran terlebih dahulu atas biaya-biaya Grup dan penerimaan pinjaman oleh Grup. Other accounts payable represent advance payment of expenses for the Group and loans received by the Group. Piutang dan utang didenominasi dalam mata uang Rupiah dan diberikan tanpa bunga kecuali piutang kepada SKA, tanpa jaminan dan akan diselesaikan dalam jangka waktu satu tahun. Accounts receivable and payable are denominated in Rupiah and not subject to interest except other accounts receivable from SKA, have no collateral and will be settled in one year.

8. PERSEDIAAN HOTEL DAN BIOSKOP

8. HOTEL AND THEATER INVENTORIES

2015 2014 Rp’000 Rp’000 Aset lancar Current assets Hotel Hotel Makanan dan minuman 6.941.737 6.048.874 Food and beverages Perlengkapan 5.286.356 3.770.344 Supplies Barang dagangan 19.607 14.183 Merchandises Bioskop Theater Makanan dan minuman - 83.558 Food and beverages Jumlah 12.247.700 9.916.959 Total Aset tidak lancar Non-current assets Perlengkapan operasional hotel 61.815.139 61.938.150 Hotel’s operating equipment 31 DesemberDecember 31,