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DAro EnErgy 2013 AnnuAl rEporT
165
PT ADARO ENERGY Tbk AND SUBSIDIARIES Schedule 55
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2013 AND 2012
Expressed in thousands of
¥
S Dollars, unless otherwise stated
1. GENERAL continued
b. Group structure continued
Commencement Total assets
Business of commercial
Effective percentage of in thousands of US Dollars,
activity Domicile
operations ownership
before elimination 2013
2012 2013
2012
Indirectly owned subsidiaries continued PT Bukit Bara
Investment Indonesia
- 10
10 4,734
4,150 Alampersada
“BBA”
a b
PT Bhakti Kumala Service
Indonesia -
10 10
1 1
Sakti “BKI”
b
PT Wahau Sumber Service
Indonesia -
10 10
81 102
Alam “WSA”
b
PT Sarana Rekreasi Service
Indonesia -
100 100
8 10
Mandiri “SRM” PT Paramitha Cipta
Mining Indonesia
- 75
- 34,995
- Sarana “PCS”
c
PT Semesta Mining
Indonesia -
75 -
21,410 -
Centramas “SCM”
c
PT Laskar Semesta Mining
Indonesia -
75 -
324 -
Alam “LSA”
c
PT Tanjung Power Power plant
Indonesia -
65 -
1,005 -
Indonesia “TPI” services and
power transmission
a
and subsidiaries
b
for the acquisition of BEP and subsidiaries, refer to Note 4a
c
for the acquisition of PCS, SCM and LSA, refer to Note 4b
d
has been liquidated
c. Coal Cooperation Agreement
Adaro’s activities are governed by the provisions of a Coal Cooperation Agreement the “CCA” which was entered into by Adaro and PT Tambang Batubara Bukit Asam Persero Tbk “PTBA”, formerly Perusahaan Negara
Tambang Batubara, on 16 November 1982. Based on Presidential Decree No. 751996 dated 25 September 1996 and the amendment to CCA No. J2Ji.DU5282 between PTBA and Adaro on 27 June 1997, all of the rights and
obligations of PTBA under the CCA were transferred to the Government of the Republic of Indonesia the “Government” represented by the Minister of Mines and Energy, effective from 1 July 1997.
Under the terms of the CCA, Adaro acts as a contractor to the Government, and is responsible for coal mining operations in an area located in South Kalimantan. Adaro commenced its 30-year operating period on 1 October
1992 with coal produced from the Paringin area of interest. Adaro is entitled to 86.5 of the coal produced with the remaining 13.5 being the Government’s share of production. However, the Government’s share of production is, in
practice, settled in cash when sales of coal are completed. Therefore, the amount of royalty payable that is settled in cash to the Government depends on the actual volume of sales made in a particular period.
Adaro’s sales reflect 100 of the revenue generated from coal sales and the Government royalty expense is recorded as part of the cost of revenue see Note 31.
166
¦§¨
IABlE, STrong, EFFICIEnT
PT ADARO ENERGY Tbk AND SUBSIDIARIES Schedule 56
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2013 AND 2012
Expressed in thousands of
©
S Dollars, unless otherwise stated
1. GENERAL continued
d. Cooperation Agreement
