Siloam Hospitals | Investor Relations - Financial Statements - Rumah Sakit Siloam Hospitals en fs q2 2015
PT SILOAM INTERNATIONAL HOSPITALS Tbk
AND SUBSIDIARIES
Interim Consolidated Financial Statements
As of June 30, 2015 (Unaudited) and December 31, 2014 (Audited) and
For the 6 (Six) Months Period Ended June 30, 2015 and 2014 (Unaudited)
Final Draft/July 31, 2015
Paraf:
PT SILOAM INTERNATIONAL HOSPITALS Tbk
AND SUBSIDIARIES
Table of Contents
Page
Directors’ Statement Letter
Interim Consolidated Financial Statements
As of June 30, 2015 (Unaudited) and December 31, 2014 (Audited) and
For the 6 (Six) Months Period Ended June 30, 2015 and 2014 (Unaudited)
Interim Consolidated Statements of Financial Position
1
Interim Consolidated Statements of Profit or Loss and Other Comprehensive Income
3
Interim Consolidated Statements of Changes in Equity
4
Interim Consolidated Statements of Cash Flows
5
Notes to the Consolidated Financial Statements
6
Draft/July 31, 2015
paraf:
These consolidated financial statements are originally issued in Indonesian language
PT INTERNATIONAL HOSPITALS Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
As of June 30, 2015 (Unaudited) and December 31, 2014 (Audited)
(Expressed in Full Rupiah, Unless Otherwise Stated)
Notes
ASSETS
CURRENT ASSETS
Cash and Cash Equivalents
Trade Receivables
Related Parties
Third Parties
Other Current Financial Assets
Inventories
Prepaid Taxes
Prepaid Expenses
Total Current Assets
2.d, 2.e, 2.f, 2.r, 3, 10, 32, 33
2.r, 2.u, 4, 33
2.f, 10
NON-CURRENT ASSETS
Advances
Due from Related Parties Non-Trade
Property and Equipment
Goodwill
Intangible Assets
Deferred Tax Assets
Other Non-Current Financial Assets
Total Non-Current Assets
2.r, 5, 33
2.g, 2.k, 6
2.q, 7.a
2.h, 8
9
2.f, 2.r, 10, 33
2.i, 2.k, 2.u, 12
2.l, 2.m, 13.a
2.m, 2.u, 13.b
2.q, 7.d
11
TOTAL
ota ASSETS
set da a ca
June 30 2015
Rp
December 31 2014 *)
Rp
217,143,795,999
279,958,770,048
8,348,153,055
494,909,250,778
9,946,720,134
121,554,050,715
6,991,423,747
72,997,230,763
931,890,625,191
3,549,747,601
389,096,670,786
9,435,126,642
105,857,883,964
6,991,423,747
45,907,747,875
840,797,370,663
83,820,338,404
29,800,572,325
1,603,357,594,386
282,568,092,907
10,417,823,910
24,650,185,734
11,057,411,664
2,045,672,019,330
84,624,464,968
1,341,961,213
1,589,306,930,919
282,568,092,907
9,605,766,175
22,442,922,330
13,398,002,929
2,003,288,141,441
2,977,562,644,521
2,844,085,512,104
*) Restated (See Notes 39)
The accompanying notes form an integral part of these
consolidated financial statements
Draft/31 Juli 2015
1
Paraf:
These consolidated financial statements are originally issued in Indonesian language
PT SILOAM INTERNATIONAL HOSPITALS Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Continued)
As of June 30, 2015 (Unaudited) and December 31, 2014 (Audited)
(Expressed in Full Rupiah, Unless Otherwise Stated)
LIABILITIES AND EQUITY
LIABILITIES
CURRENT LIABILITIES
Trade Payables - Third Parties
Short-Term Bank Loans
Accrued Expenses
Advances from Patients
Taxes Payable
Other Current Financial Liabilities
Current Portion of Long-Term-Bank Loans
Current Portion of Deferred Gain on
Sale and Leaseback Transactions
Total Current Liabilities
NON-CURRENT LIABILITIES
Long-Term Bank Loans
Due to Related Parties Non-Trade
Deferred Gain on Sale and Leaseback Transactions
Long-Term Employment Benefit Liabilities
Deferred Tax Liabilities
Total Non-Current Liabilities
Notes
December 31 2014 *)
Rp
2.r, 14, 33
2.r, 17, 33
2.f, 2.r, 10, 16, 33
2.p
2.q, 7.b
2.r, 15, 33
2.r, 17, 33
216,851,159,707
2,957,384,394
211,351,303,689
22,984,881,918
34,237,299,989
64,740,836,229
12,786,401,133
192,762,995,806
3,540,195,011
145,004,370,941
14,914,613,299
33,130,693,777
64,476,339,112
12,435,856,488
2.j, 18, 36.a
11,897,445,548
577,806,712,607
11,897,445,548
478,162,509,982
2.r, 17, 33
2.f, 2.r, 10, 33
2.j, 18, 36.a
2.n, 19
2.q, 7.d
24,041,740,149
416,491,944,412
112,976,839,099
118,127,486,841
29,567,772,738
701,205,783,239
30,525,083,739
415,813,668,549
118,909,263,993
118,858,564,915
28,147,868,966
712,254,450,162
1,279,012,495,846
1,190,416,960,144
115,610,000,000
1,289,664,515,321
(35,431,929,892)
337,338,309,133
(12,622,920,294)
1,694,557,974,268
3,992,174,407
1,698,550,148,675
115,610,000,000
1,289,664,515,321
(25,748,354,393)
281,300,384,006
(12,622,920,294)
1,648,203,624,640
5,464,927,320
1,653,668,551,960
2,977,562,644,521
2,844,085,512,104
Total Liabilities
EQUITY
Equity Attributable to Owners of the Parent
Capital Stock, par Value - Rp100 per Share
Authorized Capital - 4,000,000,000 shares
Issued and Fully Paid: 1,156,100,000 Shares
Additional Paid-in Capital - Net
Difference in Value from Non-controlling Interest
Retained Earnings
Other Comphrehensive Income
Total Equity Attributable to Owners of the Parent
Non-Controlling Interest
TOTAL EQUITY
June 30 2015
Rp
20
2.o, 21
22
2.n, 39
2.c, 25
TOTAL LIABILITIES AND EQUITY
*) Restated (See Notes 39)
The accompanying notes form an integral part of these
consolidated financial statements
Draft/31 Juli 2015
2
Paraf:
These consolidated financial statements are originally issued in Indonesian language
PT SILOAM INTERNATIONAL HOSPITALS Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER
COMPREHENSIVE INCOME
For the 6 (Six) Months Period Ended June 30, 2015 and 2014 (Unaudited)
(Expressed in Full Rupiah, Unless Otherwise Stated)
Notes
2015
(6 Months)
Rp
2014
(6 Months)
Rp
REVENUE
2.p, 26
1,986,959,843,471
1,567,853,446,208
COST OF REVENUE
2.p, 27
(1,420,884,116,579)
(1,136,251,925,085)
566,075,726,892
431,601,521,123
(429,512,821,928)
(16,169,109,881)
(351,618,622,426)
(4,944,454,082)
120,393,795,083
75,038,444,615
3,097,929,853
(27,996,934,632)
8,972,372,520
(31,361,107,735)
95,494,790,304
52,649,709,400
(33,683,273,933)
(8,087,108,090)
61,811,516,371
44,562,601,310
OTHER COMPREHENSIVE INCOME
--
--
TOTAL COMPREHENSIVE INCOME
FOR THE PERIOD
61,811,516,371
44,562,601,310
GROSS PROFIT
Operating Expenses
Others - Net
2.f, 2.p, 10, 28
PROFIT FROM OPERATION
Interest Income
Financial Charges
29
29
PROFIT BEFORE TAX
Tax Expenses
2.q, 7.c
PROFIT FOR THE PERIOD
PROFIT FOR THE PERIOD ATTRIBUTABLE TO:
Owners of the Parent Company
Non-Controlling Interest
2.c
62,049,645,135
(238,128,764)
61,811,516,371
46,136,872,059
(1,574,270,749)
44,562,601,310
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD
ATTRIBUTABLE TO:
Owners of the Parent Company
Non-Controlling Interest
2.c
62,049,645,135
(238,128,764)
61,811,516,371
46,136,872,059
(1,574,270,749)
44,562,601,310
53.67
39.91
EARNINGS PER SHARE
Basic, Profit for the Period Attributable to
Ordinary Shareholders of the Parent Company
The accompanying notes form an integral part of these
consolidated financial statements
Draft/31 Juli 2015
2.s, 31
3
Paraf:
These consolidated financial statements are originally issued in Indonesian language
PT SILOAM INTERNATIONAL HOSPITALS Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
For the 6 (Six) Months Period Ended June 30, 2015 and 2014 (Unaudited)
(Expressed in Full Rupiah, Unless Otherwise Stated)
Total Equity Attributable to Owner of Parent
Additional Paid in Capital - Net
Capital Stock
Notes
Rp
Unappropriated
Total
Non-Controlling
Total
Attributable to
Interest
Equity
Rp
Rp
Difference in Value
Difference in Value
Comprehensive
Owners of the
Paid-in
between
from Non-Controlling
Income
Parent
Capital
Entities Under
Change in Equity
Excess of
Common Control-
Transactions of
Par
Net
Subsidiaries
Total
Rp
Rp
Rp
Rp
Rp
Rp
Interest
Rp
Rp
Rp
Rp
115,610,000,000
1,312,722,950,000
(11,329,652,726)
(11,728,781,953)
1,289,664,515,321
--
--
Non-Controlling Interest
--
--
--
--
--
--
--
--
Total Comprehensive Income for the Period
--
--
--
--
--
--
--
46,136,872,059
46,136,872,059.00
BALANCE AS OF JUNE 30, 2014
115,610,000,000
1,312,722,950,000
(11,329,652,726)
(11,728,781,953)
1,289,664,515,321
--
--
252,245,406,890
252,245,406,890
BALANCE AS OF DECEMBER 31, 2014
115,610,000,000
1,312,722,950,000
(11,329,652,726)
(11,728,781,953)
1,289,664,515,321
(25,748,354,393)
23,100,000,000
245,577,463,712
268,677,463,712
--
--
--
--
--
--
--
12,622,920,294
12,622,920,294
115,610,000,000
1,312,722,950,000
(11,329,652,726)
(11,728,781,953)
1,289,664,515,321
(25,748,354,393)
23,100,000,000
258,200,384,006
--
--
--
--
--
--
--
--
--
--
--
--
(9,683,575,499)
--
--
--
--
--
--
--
115,610,000,000
1,312,722,950,000
(11,329,652,726)
(11,728,781,953)
1,289,664,515,321
(35,431,929,892)
BALANCE AS OF DECEMBER 31, 2013
Total Equity
Other
Retained Earnings
Appropriated
206,108,534,831
206,108,534,831
--
1,611,383,050,152
27,608,728,827
1,638,991,778,979
--
--
(1,445,559,093)
(1,445,559,093)
--
46,136,872,059
(1,574,270,749)
44,562,601,310
--
1,657,519,922,211
24,588,898,985
1,682,108,821,196
1,648,203,624,640
5,464,927,320
1,653,668,551,960
(12,622,920,294)
--
--
--
281,300,384,006
(12,622,920,294)
1,648,203,624,640
5,464,927,320
1,653,668,551,960
(6,011,720,008)
--
(6,011,720,008)
--
(6,011,720,008)
--
(6,011,720,008)
--
--
(9,683,575,499)
(1,234,624,148)
(10,918,199,648)
--
62,049,645,135
62,049,645,135
--
62,049,645,135
(238,128,764)
61,811,516,371
23,100,000,000
314,238,309,133
337,338,309,133
(12,622,920,294)
1,694,557,974,268
3,992,174,407
1,698,550,148,675
Changes in Equity for June 30, 2014
Restatement for PSAK 24 (Revised 2013)
39
SALDO PADA TANGGAL 31 DESEMBER 2014
(After Restated)
Changes in Equity for June 30, 2015
Divident
Non-Controlling Interest
Jumlah Laba Komprehensif Periode Berjalan
BALANCE AS OF JUNE 30, 2015
23
The accompanying notes form an integral part of these
consolidated financial statements
Draft/31 July 2015
4
Paraf:
These consolidated financial statements are originally issued in Indonesian language
PT SILOAM INTERNATIONAL HOSPITALS Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
For the 6 (Six) Months Period Ended June 30, 2015 and 2014 (Unaudited)
(Expressed in Full Rupiah, Unless Otherwise Stated)
June 30 2015
(6 Month)
June 30 2014
(6 Month)
Rp
Rp
1,884,419,126,661
(1,405,846,438,318)
1,510,897,008,608
(1,121,485,860,994)
(328,324,280,724)
150,248,407,619
(6,201,166,363)
(10,365,126,747)
133,682,114,509
(256,027,039,218)
133,384,108,396
(1,601,801,774)
(12,662,204,566)
119,120,102,056
(20,724,511,303)
(42,258,097,006)
34,084,005
(158,461,559,783)
(6,011,720,008)
60,105,000
(129,981,104,682)
--
(185,163,707,089)
(172,179,096,688)
(3,500,000,000)
(6,715,609,560)
(10,215,609,560)
(19,319,881,805)
(6,245,705,281)
(25,565,587,086)
(61,697,202,140)
(78,624,581,718)
(1,117,771,909)
(2,322,528,372)
CASH AND CASH EQUIVALENTS AT BEGINNING PERIOD
279,958,770,048
515,437,837,445
CASH AND CASH EQUIVALENTS AT ENDING PERIOD
217,143,795,999
434,490,727,355
CASH FLOWS FROM OPERATING ACTIVITIES
Collections from Customers
Payments to Suppliers and Third Parties
Payments to Management and Employees
Cash Flows from Operations
Financial Charges Payment - Net
Payments of Taxes
Net Cash Provided by Operating Activities
CASH FLOWS FROM INVESTING ACTIVITIES
Advances for Purchase of Property and Equipment and Others
Property and Equipment and Software
Disposal
Acquisition
Payments of Divident
Net Cash Used in Investing Activities
CASH FLOWS FROM FINANCING ACTIVITIES
Share Issuance Costs
Receipts from (Payment to) Related Parties
Payments
Net Cash Used in Financing Activities
NET DECREASE IN CASH AND CASH EQUIVALENTS
Effect of Foreign Exchange on Cash and Cash Equivalents
at the End of the Period
Additional information of non-cash transaction are presented in Note 35.
The accompanying notes form an integral part of these
consolidated financial statements
Draft/31 Juli 2015
5
Paraf:
These consolidated financial statements are originally issued in Indonesian language
PT SILOAM INTERNATIONAL HOSPITALS Tbk AND SUBSIDIARIES
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS
As of June 30,2015 (Unaudited) and December 31, 2014 (Audited) and
For the 6 (Six) Months Period Ended June 30, 2015 and 2014 (Unaudited)
(In Full Rupiah, Unless Otherwise Stated)
1. General
1.a. The Company’s Establishment
PT Siloam International Hospitals Tbk (“the Company”) was established under the name of PT
Sentralindo Wirasta on August 3, 1996 based on the Deed of Establishment No. 3, which was made in
the presence of Myra Yuwono, S.H., a notary in Sukabumi. The deed of establishment was approved by
the Minister of Justice of the Republic of Indonesia in his decree No. C2-8639.HT.01.01.TH’ 96. dated
August 27, 1996 and was published in the State Gazette No. 97, Supplement No. 9518 on December 3,
1996.
The Company’s articles of association have been amended several times, and the changed was by
Notarial Deed No. 10 dated June 12, 2015, made in the presence of Nurlani Yusup, S.H., M.Kn., a notary
in Tangerang, about changes in the Company’s articles of association. Notification of changes the
Company’s articles of association have been received by the Minister of Law and Human Rights of the
Republic of Indonesia in his decree No. AHU-AH.01.03-0942343 dated June 17, 2015.
In accordance with Article 3 of the Company's articles of association, the Company's principal activity is
engage in healthcare provision, including setting up and managing hospitals, polyclinics, health facilities
and supporting infrastructure, and engaging in government healthcare programs.
The Company commenced commercial operations in 2010 after the restructuring of PT Lippo Karawaci
Tbk’s hospital units. The Company's principal activity is engage in healthcare provision, including setting
up and managing hospitals. The operation of hospital units of the Company and the subsidiaries (the
Group) are in several cities on the island of Sumatera, Java, Bali, Kalimantan, Sulawesi and Nusa
Tenggara.
The Company’s head office is located at Building of Faculty Medicine UPH , 32th. Floor. JL. Bouleverad
Jend.Sudirman No.15, Tangerang 15810, Banten - Indonesia. The parent entity of the Company is PT
Megapratama Karya Persada and the ultimate parent entity is PT Lippo Karawaci Tbk.
1.b. The Company’s Initial Public Offering
The Company’s initial public offering of 156,100,000 shares was declared effective by the Indonesian
Financial Services Authority in its letter No. S-260/D.04/2013 dated September 2, 2013, and was listed in
the Indonesian Stock Exchange on September 12, 2013.
1.c. The Group’s Structure
The Company has ownership of more than 50%, either direct or indirectly, in the following subsidiaries:
Final Draftt/July 31, 2015
6
Paraf:
These consolidated financial statements are originally issued in Indonesian language
PT SILOAM INTERNATIONAL HOSPITALS Tbk AND SUBSIDIARIES
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS (Continued)
As of June 30,2015 (Unaudited) and December 31, 2014 (Audited) and
For the 6 (Six) Months Period Ended June 30, 2015 and 2014 (Unaudited)
(In Full Rupiah, Unless Otherwise Stated)
Subsidiary
Direct
Ownership
Percentage
Indirect
Ownership
Percentage
Year of
Starting
Operation
99.99%
--
--
76,942,018
78,124,746
99.75%
--
--
520,403,206
520,403,206
99.99%
--
--
447,932,325
448,067,441
--
59.69%
--
946,696,305
926,687,462
Trading,
Dev elopment,
Land Transportation,
and Serv ices
Healthcare
99.99%
--
--
131,681,988,671
142,511,589,460
--
79.84%
2002
131,663,100,158
142,492,350,947
Jakarta
--
--
83,084,024,764
88,570,503,605
--
83.00%
2008
83,053,722,609
88,539,839,436
99.98%
--
--
229,089,717,814
237,404,060,017
--
79.61%
2007
189,871,853,460
198,183,010,595
PT Siloam Emergency Serv ices
Dev elopment
and Serv ices
Healthcare and
Pharmacy
Jakarta
Trading,
Dev elopment,
Industry ,
Mining,
Land Transportation,
Agriculture,
Printing,
Workshop and
Serv ices ex cept
Serv ices of
and Tax
Balikpapan
Healthcare
including
Hospital
Clinic,
Health Centre,
Poly clinic and
Other related
Serv ices
Tangerang
Healthcare
99.97%
Jambi
99.99%
--
2013
2,628,018,531
2,624,415,127
PT Medika Harapan Cemerlang Indonesia
Tangerang
99.99%
--
2013
3,374,923,763
2,177,323,630
PT Pancaw arna Semesta and Subsidiary
Tangerang
99.99%
--
--
69,824,348,401
70,026,074,020
--
80.00%
2006
39,267,466,842
39,467,645,852
99.99%
--
--
1,013,486,666
995,085,833
99.99%
--
--
605,033,333
605,403,333
99.99%
--
--
594,783,333
597,340,833
99.99%
--
--
115,838,660,871
102,195,707,668
--
80.00%
--
115,834,477,538
102,188,966,835
--
56.00%
--
8,003,158,670
8,003,625,337
PT Aritasindo Permaisemesta
PT Perdana Kencana Mandiri
PT Multiselaras Anugerah
PT Nusa Medika Perkasa
PT Siloam Graha Utama and Subsidiary
PT East Jakarta Medika
PT Guchi Kencana Emas and Subsidiary
PT Golden First Atlanta
PT Praw ira Tata Semesta and Subsidiary
PT Balikpapan Damai Husada
PT Diagram Healthcare Indonesia
PT Adamanisa Kary a Sejahtera
Domicile
Jakarta
Trading,
Dev elopment,
Mining,
Agriculture,
Land Transportation,
Printing and
Industry
Jakarta
Industry ,
Dev elopment,
Trading,
Land Transportation,
Workshop,
Printing,
Agriculture,
Mining
and Serv ices
Tangerang
Dev elopment,
Trading
and Serv ices
Jakarta
Healthcare
Jakarta
Bekasi
Depok
Jakarta
PT Brenada Kary a Bangsa
Tangerang
PT Harmoni Selaras Indah
Tangerang
PT Kusuma Primadana and Subsidiaries
Tangerang
PT Adijay a Buana Sakti and Subsidiaries
PT Siloam Sumsel Kemitraan
Final Draft/July 31, 2015
Main
Business
Jakarta
Tangerang
Trading,
Industry
and Serv ices
Trading,
Dev elopment,
Printing
and Serv ices
Hospital serv ices,
Clinic and
Policlinic,
Medical
Treatment Clinic
and
Other related
Serv ices
Trading,
Dev elopment,
Printing
and Serv ices
Trading,
Dev elopment,
Printing
and Serv ices
Trading,
Dev elopment,
Printing
and Serv ices
Trading,
Dev elopment,
Printing
and Serv ices
Serv ices,
Dev elopment,
Trading,
Workshop,
Land
Industry ,
Printing
and Agriculture
Trading,
Dev elopment
and Serv ices
7
Total Assets
June 30 2015
December 31 2014
Rp
Rp
Paraf:
These consolidated financial statements are originally issued in Indonesian language
PT SILOAM INTERNATIONAL HOSPITALS Tbk AND SUBSIDIARIES
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS (Continued)
As of June 30,2015 (Unaudited) and December 31, 2014 (Audited) and
For the 6 (Six) Months Period Ended June 30, 2015 and 2014 (Unaudited)
(In Full Rupiah, Unless Otherwise Stated)
Subsidiary
PT RS Siloam Hospital Sumsel
(d/h PT Kary atama Indah Sentosa)
PT Optimum Kary a Persada
Dom icile
Main
Business
Direct
Ownership
Percentage
Indirect
Ownership
Percentage
Year of
Starting
Operation
Palembang
Healtcare include
Hospital
Clinical,
and
Health Center,
Poly clinic and
Other Related
Serv ice
Serv ices,
Dev elopment,
Trading,
Workshop,
Land
Industry ,
Printing
and Agriculture
Trading,
Dev elopment,
Printing
and Serv ices
Trading,
Dev elopment,
Printing
and Serv ices
Trading,
Dev elopment,
Printing
and Serv ices
Trading,
Dev elopment,
Real Estate,
Industry ,
Printing,
Agribusiness,
Serv ices
and Transport
--
70.00%
2012
99.99%
--
99.99%
Jakarta
PT Rosela Indah Cipta
Tangerang
PT Sembada Kary a Megah
Tangerang
PT Trijay a Makmur Bersama
Tangerang
PT Visindo Galax i Jay a
Tangerang
PT Tunggal Pilar Perkasa and Subsidiaries
Tangerang
PT Tirtasari Kencana
Serang
PT Gramari Prima Nusa
Medan
PT Krisolis Jay a Mandiri
Kupang
PT Kusuma Bhakti Anugerah
Tangerang
PT Agung Cipta Ray a
Semarang
PT Bina Cipta Semesta
Padang
PT Mega Buana Bhakti
Pangkal
Pinang
PT Taruna Perkasa Megah
Final Draft/July 31, 2015
Yogy akarta
Trading,
Dev elopment,
Real Estate,
Industry ,
Printing,
Agribusiness,
Serv ices
and Transport
Hospital serv ices,
Clinic and
Policlinic,
Medical
Treatment Clinic
and
Other related
Serv ices
Hospital serv ices,
Clinic and
Policlinic,
Medical
Treatment Clinic
and
Other related
Serv ices
Healthcare
including
Hospital
Clinic,
Health Centre,
Poly clinic and
Other related
Serv ices
Healthcare
Industry ,
Hospital
Clinic,
Health Centre,
Poly clinic and
Other related
Serv ices
Healthcare
including
Hospital
Clinic,
Health Centre,
Poly clinic and
Other related
Serv ices
Healthcare
including
Hospital
Clinic,
Health Centre,
Poly clinic and
Other related
Serv ices
Healthcare
including
Hospital
Clinic,
Health Centre,
Poly clinic and
Other related
Serv ices
Healthcare
including
Hospital
Clinic,
Health Centre,
Poly clinic and
Other related
Serv ices
8
Total Assets
June 30 2015
Decem ber 31 2014
Rp
Rp
116,810,946,923
103,163,599,553
--
1,015,738,633
1,017,232,500
--
--
594,783,333
597,153,333
99.99%
--
--
614,784,490
617,340,833
99.99%
--
--
594,783,333
597,340,833
99.99%
--
--
4,992,983,333
4,993,540,833
99.99%
--
--
997,856,000,172
902,863,440,805
--
99.99%
--
1,129,843,218
1,130,696,718
--
99.99%
2014
147,381,867,408
130,585,488,531
--
99.99%
2014
106,524,173,017
69,331,687,626
--
99.99%
--
7,198,217,181
7,199,648,894
--
99.99%
--
972,260,000
972,630,000
--
99.99%
--
1,010,933,474
1,012,427,500
--
99.99%
--
6,300,553,781
5,982,333,520
--
99.99%
--
64,206,380,153
19,014,504,078
Paraf:
These consolidated financial statements are originally issued in Indonesian language
PT SILOAM INTERNATIONAL HOSPITALS Tbk AND SUBSIDIARIES
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS (Continued)
As of June 30,2015 (Unaudited) and December 31, 2014 (Audited) and
For the 6 (Six) Months Period Ended June 30, 2015 and 2014 (Unaudited)
(In Full Rupiah, Unless Otherwise Stated)
Subsidiary
Dom icile
Main
Business
PT Tataka Bumi Kary a
Bogor
PT Tataka Kary a Indah
Bandung
Healthcare
including
Hospital
Clinic,
Health Centre,
Poly clinic and
Other related
Serv ices
Trading,
Dev elopment,
Printing
and Serv ices
Trading,
Dev elopment,
Real Estate,
Industry ,
Printing,
Agribusiness,
Serv ices
and Transport
Trading,
Dev elopment,
Printing,
Agribusiness,
Serv ices
and Transport
PT Siloam Medika Cemerlang**)
Tangerang
PT Koridor Usaha Maju and Subsidiaries
Tangerang
PT Medika Sarana Traliansia and Subsidiary
PT Trisaka Raksa Waluy a
Total Assets
2015
2014
Rp
Rp
707,029,967
610,452,500
--
99.99%
--
833,607,915
837,254,382
--
99.99%
--
8,642,776,314
3,388,608,668
--
99.99%
--
463,571,085,042
458,363,437,079
--
99.99%
2008
247,006,686,384
256,054,381,752
Badung, Bali
Commence
Special Serv ice
in Healthcare
Hospital Serv ice
Clinic, Policlinic,
Priv ate Hospital
Hospital Sev ice
Clinic, Policlinic,
and Treatment
Clinic
Healthcare
including
Hospital
Clinic,
Health Centre,
Poly clinic and
Other related
Serv ices
Healthcare
including
Hospital
Clinic,
Health Centre,
Poly clinic and
Other related
Serv ices
Hospital Serv ice
Clinic, Policlinic
and Treatment
Clinic, Policlinic
Hospital Serv ice
Clinic, Policlinic
and Treatment
Clinic, Policlinic
Hospital Serv ice
Clinic, Policlinic
and Treatment
Clinic, Policlinic
Hospital Serv ice
Clinic, Policlinic
and Treatment
Clinic, Policlinic
Hospital Serv ice
Clinic, Policlinic
and Treatment
Clinic, Policlinic
Hospital Serv ice
Clinic, Policlinic
and Treatment
Clinic, Policlinic
Hospital Serv ice
Clinic, Policlinic
and Treatment
Clinic, Policlinic
Hospital Serv ice
Clinic, Policlinic
and Treatment
Clinic, Policlinic
Hospital Serv ice
Clinic, Policlinic
and Treatment
Clinic, Policlinic
Hospital Serv ice
Clinic, Policlinic
and Treatment
Clinic, Policlinic
Hospital Serv ice
Clinic, Policlinic
and Treatment
Clinic, Policlinic
Trading,
Dev elopment,
Industry ,
Printing,
Serv ice,
and Transport
--
99.99%
2008
131,271,340,936
132,992,756,044
--
99.99%
--
22,443,833,867
16,312,100,196
--
99.99%
--
600,000,000
600,000,000
--
99.99%
2014
87,008,058,935
45,004,044,700
--
99.99%
2008
56,730,153,033
53,352,264,266
--
99.99%
--
1,500,743,608
600,000,000
--
99.99%
--
600,550,000
600,000,000
--
99.99%
--
600,650,000
600,000,000
--
99.99%
--
600,000,000
600,000,000
--
99.99%
--
600,750,000
600,000,000
--
99.99%
--
600,550,000
600,000,000
--
99.99%
--
600,600,000
600,000,000
--
99.99%
--
4,860,627,351
600,000,000
--
99.99%
--
600,000,000
600,000,000
--
99.99%
--
600,000,000
600,000,000
--
99.99%
--
600,000,000
600,000,000
99.99%
--
--
37,699,077,782
38,623,709,806
PT Sentra Sejahtera Utama*)
Tangerang
Tangerang
PT Rashal Siar Cakra Medika
Jakarta
Selatan
PT Mulia Pratama Cemerlang*)
Tangerang
PT Kary a Pesona Cemerlang*)
Tangerang
PT Indah Kemilau Abadi*)
Tangerang
PT Persada Dunia Semesta*)
Tangerang
PT Inti Pratama Medika*)
Tangerang
PT Sentra Sehat Sejahtera*)
Tangerang
PT Genta Ray a Internusa*)
Tangerang
PT Sembilan Raksa Dinamika*)
Tangerang
PT Saritama Mandiri Zamrud*)
Tangerang
PT Gempita Nusa Sejahtera*)
Tangerang
PT Ary amedika Teguh Tunggal*)
Tangerang
Final Draft/July 31, 2015
Year of
Starting
Operation
--
Hospital Public
Serv ices
Tangerang
PT Mahkota Buana Selaras
Indirect
Ownership
Percentage
99.99%
Badung, Bali
PT Buana Utama Sejati*)
PT Berlian Cahay a Indah
Direct
Ownership
Percentage
--
Tangerang
9
Paraf:
These consolidated financial statements are originally issued in Indonesian language
PT SILOAM INTERNATIONAL HOSPITALS Tbk AND SUBSIDIARIES
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS (Continued)
As of June 30,2015 (Unaudited) and December 31, 2014 (Audited) and
For the 6 (Six) Months Period Ended June 30, 2015 and 2014 (Unaudited)
(In Full Rupiah, Unless Otherwise Stated)
Subsidiary
Domicile
PT Bumi Unggul Persada**)
Tangerang
PT Lintas Buana Jay a**)
NTT
PT Bina Bahtera Sejati**)
Bau Bau
PT Lintang Laksana Utama**)
Lubuk
Linggau,
Sum-sel
PT Ciptakary a Tirta Cemerlang**)
Tangerang
Main
Business
Direct
Ownership
Percentage
Indirect
Ownership
Percentage
Year of
Starting
Operation
Total Assets
June 30 2015
December 31 2014
Rp
Rp
Hospital Serv ice
Clinic, Policlinic
and Treatment
Clinic, Policlinic
Hospital Serv ice
Clinic, Policlinic
and Treatment
Clinic, Policlinic
Hospital Serv ice
Clinic, Policlinic
and Treatment
Clinic, Policlinic
Hospital Serv ice
Clinic, Policlinic
and Treatment
Clinic, Policlinic
Hospital Serv ice
Clinic, Policlinic
and Treatment
Clinic, Policlinic
--
99.99%
--
600,000,000
600,000,000
--
99.99%
--
600,000,000
600,000,000
--
99.99%
--
600,000,000
600,000,000
--
99.99%
--
600,000,000
600,000,000
--
99.99%
--
600,000,000
600,000,000
*) Established in 2014
**) Established in 2015
On July 23, 2014, TPP and MBS, acquired 75% and 25%, respectively, ownership in PT Rashal Siar
Cakra Medika (RSCM), at the acquisition cost of Rp78,540,426,657 and Rp26,180,142,219, respectively.
This transaction represent business combination (see Note 30). RSCM commenced commercial
operations in 2008.
On November 28, 2014, TPP acquired 20% ownership of MST from Steer Clear Limited, at the acquisition
cost of Rp45,030,000,000. Difference from acquisition cost and investment value amounted to
Rp25,748,354,393.
1.d. Board of Commissioners, Directors, Employees and Audit Committee
Based on Notarial Deed No. 09 dated June 12, 2015, made in the presence of Nurlani Yusup, S.H.,
M.Kn., Notary in Tangerang, which has been accepted by the Ministry of Law and Human Rights of the
Republic of Indonesia through notification No. AHU-AH.01.03-0942314 dated June 17, 2015, the
composition of the Board of Commisioners and Directors as of June 30, 2015 and December 31, 2014,
are as follows:
Final Draft/July 31, 2015
10
Paraf:
These consolidated financial statements are originally issued in Indonesian language
PT SILOAM INTERNATIONAL HOSPITALS Tbk AND SUBSIDIARIES
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS (Continued)
As of June 30,2015 (Unaudited) and December 31, 2014 (Audited) and
For the 6 (Six) Months Period Ended June 30, 2015 and 2014 (Unaudited)
(In Full Rupiah, Unless Otherwise Stated)
June 30 2015
December 31 2014
Board of Commissioners
President Commissioner
Commissioner
Independent Commissioner
Ketut Budi Wijaya
Theo Leo Sambuaga
Jenny Kuistono
Lambock V. Nahattands
Farid Harianto
dr. Niel Byron Nielson
Jonathan Limbong Parapak
Ketut Budi Wijaya
Theo Leo Sambuaga
Rahmawaty
Lambock V. Nahattands
Farid Harianto
Muladi
Jonathan Limbong Parapak
Romeo Fernandez Lledo *)
Kailas N. Raina
Prof. George Mathew
dr. Grace Frelita Indradjaja
dr. Anang Prayudi
dr. Andry
Richard Hendro Setiadi WP.
Romeo Fernandez Lledo *)
Grace Frelita Indradjaja
Andry
Kailas N. Raina
George Mathew
Anang Prayudi *)
Directors
President Director
Director
*) Independent Director
The audit committee composition as of June 30, 2015 and December 31, 2014 are as follows:
Audit Committee
Chairman
Members
: Farid Harianto
: Lim Kwang Tak
: Siswanto Pramono
As of June 30, 2015 and December 31, 2014, the Company’s Corporate Secretary is Cindy Riswantyo
and head of internal audit is Gunawan HP.
As of June 30, 2015 and December 31, 2014, the Group have 6,557 and 6,547 permanent employees,
respectively (unaudited).
2. Summary of Significant Accounting Policies
2.a. Compliance with the Financial Accounting Standards
The Group’s consolidated financial statements have been prepared and presented in accordance with the
Indonesian Financial Accounting Standards which include the Statements and the Interpretations as
issued by the Financial Accounting Standards Board of the Indonesian Institute of Accountants (DSAKIAI) and Regulation of Bapepam-LK No. VIII.G.7 regarding the “Guidance of Financial Statements
Presentation” asset forth in decree No. KEP-347/BL/2012 regarding the amendment to Regulation No.
VIII.G.7 and other accounting policies which prevailing in the Capital Market.
2.b. Basis of Measurement and Preparation of Consolidated Financial Statements
The consolidated financial statements have been prepared on a going concern assumption and on the
accrual basis, except for the consolidated statements of cash flows which used the cash basis. The basis
of measurement in the preparation of these consolidated financial statements is the historical cost
Final Draft/July 31, 2015
11
Paraf:
These consolidated financial statements are originally issued in Indonesian language
PT SILOAM INTERNATIONAL HOSPITALS Tbk AND SUBSIDIARIES
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS (Continued)
As of June 30,2015 (Unaudited) and December 31, 2014 (Audited) and
For the 6 (Six) Months Period Ended June 30, 2015 and 2014 (Unaudited)
(In Full Rupiah, Unless Otherwise Stated)
principle, except for certain accounts that were measured using other basis, as described in the
respective accounting policy.
The consolidated statements of cash flows have been presented by classifying the activities into
operating, investing and financing. The cash flows from operating activities were prepared using the
direct method.
The functional currency of the Group is Indonesian Rupiah. Transactions are recorded using the
functional currency. The reporting currency used in the preparation of these consolidated financial
statements is the Indonesian Rupiah.
The following new Interpretations of financial accounting standard (ISAK) are effective on 1 January 2015
to the Group's consolidated financial statements:
- PSAK No. 1 (Revised 2013) “Presentation of financial statements”
- PSAK No. 4 (Revised 2013) “Separate financial statements”
- PSAK No. 15 (Revised 2013) “Investment in associates and joint ventures”
- PSAK No. 24 (Revised 2013) “Employee benefits”
- PSAK No. 46 (Revised 2014) ”Income Tax”
- PSAK No. 48 (Revised 2014) “Asset Impairment”
- PSAK No. 50 (Revised 2014) “Financial Instruments: Presentation”
- PSAK No. 55 (Revised 2014) “Financial Instruments: Recognition and Measurement”
- PSAK No. 60 (Revised 2014) “Financial Instruments: Disclosure”
- PSAK No. 65 “Consolidated financial statements”
- PSAK No. 66 “Joint arrangements”
- PSAK No. 67 “Disclosure of interests in other entities”
- PSAK No. 68 “Fair value measurement”
ISAK which will be effective in the financial year beginning January 1, 2015 are as follows:
- ISAK No. 26 (Revised 2014) “Reassessment of Embedded Derivative”
2.c. Principles of Consolidation
The consolidated financial statements include the accounts of the Company and its subsidiaries
controlled directly with the percentage of ownership more than 50% as presented in Note 1.c.
Control also exists when the parent entity owns half or less of the voting power of an entity when there is:
a. power over more than half of the voting rights by virtue of an agreement with other investors;
b. power to govern the financial and operating policies of the entity under a statute or an agreement;
c. power to appoint or remove the majority of the members of the board of directors or equivalent
governing body and control of the entity is by that board or body; or
d. power to cast the majority of votes in the meetings of the board of directors or equivalent governing
body and control of the entity is by that board or body.
The existence and effect of potential voting rights that can be implemented or converted on the date of
the reporting period should be considered when assessing whether an entity has the power to govern
financial and operating policies of another.
The entities are consolidated from the date on which control was transferred to the Company and are no
longer consolidated when the Company ceases to have control. Control is obtained when the entity has
the power to govern the financial and operating policies of another entity to obtain the benefits of the
entity activity.
The consolidated financial statements have been prepared on the basis of entity concept. All significant
related intercompany accounts, transactions and profits among the consolidated companies have been
Final Draft/July 31, 2015
12
Paraf:
These consolidated financial statements are originally issued in Indonesian language
PT SILOAM INTERNATIONAL HOSPITALS Tbk AND SUBSIDIARIES
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS (Continued)
As of June 30,2015 (Unaudited) and December 31, 2014 (Audited) and
For the 6 (Six) Months Period Ended June 30, 2015 and 2014 (Unaudited)
(In Full Rupiah, Unless Otherwise Stated)
eliminated to reflect the financial position and result of operations as a whole entity.
The changes in the Company’s ownership interest in a subsidiary that do not result to a loss of control
are accounted for as equity transactions and attributed to the owners of the parent.
All major transactions and inter-company account balances (including significant unrealized gain or loss)
have been eliminated.
Non-controlling interest reflects the profit or loss and net assets of subsidiaries portion that are not
attributable directly or indirectly to the parent entity, which is presented in the consolidated statements of
profit or loss and other comprehensive income and as equity in the consolidated statements of financial
position, separated from portion which is attributable to parent.
2.d. Foreign Currency Transactions
A foreign currency is a currency other than the functional currency. Transactions during the current period
using foreign currencies were recorded at the spot rate prevailing on the transaction date.
At the reporting date, transactions in foreign currencies were translated using the following closing rates:
June 30 2015
Rp
1 United State Dollar (USD)
1 Euro (EUR)
1 Singapore Dollar (SGD)
1 Australian Dollar (AUD)
December 31 2014
Rp
13,332
14,920
9,895
10,218
12,440
15,133
9,422
10,218
Gains and losses from foreign exchange differences arising from foreign currency transactions into
Rupiah were charged to profit or loss.
Non-monetary items that are measured in terms of historical cost in a foreign currency shall be translated
using the exchange rate at the date of transaction. Non-monetary items that are measured at fair value in
a foreign currency shall be translated using the exchange rate when the fair value was determined.
2.e. Cash and Cash Equivalent
Cash consist of cash on hand and in banks, are not used as collateral and not restricted.
Cash equivalent consists of time deposits certificates with maturities of not more than or equal to six (6)
months from the date of placement and are not restricted.
2.f. Transactions with Related Parties
A related party is a person or entity that is related to the Company (referred to as the “reporting entity”),
which includes:
a) A person or a close member of that person’s family is related to a reporting entity if that person:
(i) has control or joint control over the reporting entity;
(ii) has significant influence over the reporting entity;
(iii) is a member of the key management personnel of the reporting entity or of a parent of the
reporting entity.
b) An entity is related to the reporting entity if any of following conditions applies:
(i) The entity and the reporting entity are members of the same group (which means that each
parent, subsidiary and fellow subsidiary is related to the others);
Final Draft/July 31, 2015
13
Paraf:
These consolidated financial statements are originally issued in Indonesian language
PT SILOAM INTERNATIONAL HOSPITALS Tbk AND SUBSIDIARIES
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS (Continued)
As of June 30,2015 (Unaudited) and December 31, 2014 (Audited) and
For the 6 (Six) Months Period Ended June 30, 2015 and 2014 (Unaudited)
(In Full Rupiah, Unless Otherwise Stated)
(ii) One entity is an associate or joint venture of the other entity (or an associate or joint venture of a
member of a group of which the other entity is a member);
(iii) Both entities are joint ventures of the same third party;
(iv) One entity is a joint venture of a third entity and the other entity is an associate of the third entity.
(v) The entity is a post-employment benefit plan for the benefit of employees of either the reporting
entity or an entity related to the reporting entity. If the reporting entity is managing the plan, the
sponsoring entity is also related to the reporting entity;
(vi) The entity is controlled or jointly controlled by a person identified in (a); or
(vii) A person identified in (a) (i) has significant influence over the entity or is a member of the key
management personnel of the entity (or a parent of the entity).
2.g. Inventories
Inventories are stated at the lower of cost or net realizable value. Cost is determined by the average
method. Net realizable value is the estimated selling price in the ordinary course of business less the
estimated costs of completion and selling cost. In determining obsolete inventory, the Group conducts a
regular review of each unit individually significant inventory and when obtained reliable evidence, the
Group will reduce the value of inventories to realizable value.
2.h. Prepaid Expenses
Prepaid expenses are amortized over the period benefitted using straight line method.
2.i. Property and Equipment
At initial recognition, property and equipment are measured at acquisition cost.
After initial recognition, property and equipment except land are accounted for using the cost model
which is carried at cost less accumulated depreciation and accumulated impairment losses. Land is not
depreciated and carried at cost less accumulated impairment losses.
Depreciation is computed by using the straight line method based on the estimated useful lives of the
assets as follows:
Years
Building, Infrastructure and Renovations
4 - 20
Equipment and Medical Supplies
4-8
Furniture, Fixtures and Office Equipment
4 - 10
Vehicles
5
The cost of repairs and maintenance is charged to profit or loss as incurred while significant renovations
and addition which add estimated useful life or future economic benefits are capitalized. When assets are
retired or otherwise disposed of, the cost and the related accumulated depreciation and accumulated
impairment loss, if any, are removed from the accounts and any resulting gains or losses are charged to
operations for the relevant period.
Accumulated construction costs of property and equipment are capitalized as "Construction in Progress "
and recorded in "Property and Equipment" account until the construction process is completed. These
costs are reclassified to property and equipment when the construction are completed.
The carrying amount of property and equipment is derecognized upon disposal or when no future
economic benefits are expected from its use or disposal. Any gain or loss arising on derecognition of the
asset (calculated as the difference between the net disposal proceeds and the carrying amount of the
asset) is credited or charged to operations in the period the asset is derecognized.
Final Draft/July 31, 2015
14
Paraf:
These consolidated financial statements are originally issued in Indonesian language
PT SILOAM INTERNATIONAL HOSPITALS Tbk AND SUBSIDIARIES
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS (Continued)
As of June 30,2015 (Unaudited) and December 31, 2014 (Audited) and
For the 6 (Six) Months Period Ended June 30, 2015 and 2014 (Unaudited)
(In Full Rupiah, Unless Otherwise Stated)
Management has reviewed the estimated useful lives, depreciation methods and residual values of the
propery and equipment, at each reporting period. Necessary adjustments made prospectively.
2.j. Leases
The determination of whether an arrangement is a lease agreement or lease agreement containing the
substance of the agreement based on the inception date and whether the fulfillment of the agreement
depends on the use of an asset and the agreement provides a right to use the asset.
Leases are classified as finance leases if the lease substantially transferred all the risks and benefits
related to ownership of the asset. Leases are classified as operating leases if the lease did not
substantially transfer all the risks and benefits related to ownership of the asset.
Group as Lessee
At the beginning of the lease term, the Group recognizes finance leases as assets and liabilities in the
consolidated statements of financial position at fair value of the leased property or the present value of
the minimum lease payments, if the present value is lower than the fair value. The valuation of a lease is
determined at the initial contract. The discount rate used in calculating the present value of the minimum
lease payments is the implicit interest rate of the lease, if practicable. If not, the discount rate used is the
level of the lessee's incremental borrowing rate applied. Initial direct costs of the lessee are capitalized
and recognized as an asset. Leased asset depreciation policy is consistent with the policy for the Group’s
own property and equipment.
Under an operating lease, the Group recognizes lease payments as an expense on a straight-line basis
over the lease term.
Group as lessor
The Group recognizes lease receivables in the consolidated statements of financial position as a net
lease investment. Collection of leases are considered as payments of lease principal and finance lease
income. Recognition of finance lease income is based on a pattern reflecting a constant periodic rate of
return on the Group's net investment as lessor in a finance lease.
The Group is required to present assets subject to operating leases in its consolidated statements of
financial position according to the nature of the asset. Initial direct costs incurred in negotiating an
operating lease are added to the carrying amount of the leased asset and recognized as an expense over
the lease term on the same basis as operating rental income. Contingent rents, if any, are recognized as
revenue in the periods in which they are earned. Lease income from operating leases is recognized as
income on a straight-line basis over the lease term.
Sale and Leaseback
A sale and leaseback transaction involves the sale of an asset and leasing back the same asset. If a sale
and leaseback transaction is a finance lease, any excess of sales proceeds over the carrying value is not
immediately recognized as income in the consolidated financial statements of a seller (lessee) but is
deferred and amortized over the lease period.
If a sale and leaseback transaction is an operating lease, and it is clear that the transaction is established
at fair value, any profit or loss is recognized immediately. If the sales price is below fair value, any profit
or loss is recognized immediately except if the loss is compensated by future lease payments below
market price where it is deferred and amortized in proportion to the lease payments over the period for
which the asset is expected to be used.
Final Draft/July 31, 2015
15
Paraf:
These consolidated financial statements are originally issued in Indonesian language
PT SILOAM INTERNATIONAL HOSPITALS Tbk AND SUBSIDIARIES
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS (Continued)
As of June 30,2015 (Unaudited) and December 31, 2014 (Audited) and
For the 6 (Six) Months Period Ended June 30, 2015 and 2014 (Unaudited)
(In Full Rupiah, Unless Otherwise Stated)
2.k. Impairment of Non-Financial Assets
The recover amount of non-financial assets shall be estimated at the time of the events or changes in
circumstances indicate that the carrying value may not be recoverable. An impairment loss is recognized
in the current period.
Impairment loss been recognized in prior periods is reversed if and only if, there is a change in the
estimate used to determine the assets recoverable amount since the last impairment loss is recognized.
If so, the carrying amount of the asset is increased to its recoverable amount.
The increase is a reversal of an impairment loss. The carrying amount of assets increased due to the
reversal of an impairment loss, should not exceed the carrying amount of the asset if no impairment loss
for the previous period.
2.l. Business Combination
The Group accounts for each business combination by applying the acquisition method, including
measuring non-controlling interest.
The consideration transferred for an acquisition is measured at the aggregate of the fair values of
assets given-up, liabilities assumed and equity instruments issued by the Company. Acquisition-related
costs are recognized in the profit or loss as incurred.
The Group recognizes the identifiable assets acquired and liabilities taken over at their fair value on the
acquisition date, except for the following:
• Deferred tax assets or liabilities that are related to assets acquired and liabilities taken over in
business combination are recognized and measured in accordance with PSAK No. 46 (Revised
2010), “Income Taxes”.
• Liabilities (or assets, if any) related to employee benefit arrangements from the acquiree are
recognized and measured in accordance with PSAK No. 24 (Revised 2010), “Employee Benefits”.
• Liabilities or equity instruments related to the replacement of an acquiree’s share-based payment
awards are measured in accordance with PSAK No. 53 (Revised 2010), “Share-based Payment”.
• Non-current assets (or disposal groups) acquired which are classified as held for sale are measured
in accordance with PSAK No. 58 (Revised 2009), “Non-current Assets Held for Sale and Discontinued
Operations”.
2.m. Intangible Assets
Goodwill
Goodwill arising in a business combination is recognized as an asset on the date that control is acquired.
Goodwill is measured as the excess of the sum of the consideration transferred, the amount of any
noncontrolling interests in the acquiree, and the fair value of the acquirer’s previously held equity interest
in the acquiree over the net of the acquisition date amounts of the identifiable assets acquired and the
liabilities taken over.
Goodwill is not amortized but is reviewed for impairment at least annually or more frequently when there
is an indication that the goodwill may be impaired. For the purpose of impairment testing, goodwill is
allocated to each of the cash-generating units expected to benefit from the synergies of the combination.
Final Draft/July 31, 2015
16
Paraf:
These consolidated financial statements are originally issued in Indonesian language
PT SILOAM INTERNATIONAL HOSPITALS Tbk AND SUBSIDIARIES
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS (Continued)
As of June 30,2015 (Unaudited) and December 31, 2014 (Audited) and
For the 6 (Six) Months Period Ended June 30, 2015 and 2014 (Unaudited)
(In Full Rupiah, Unless Otherwise Stated)
If the recoverable amount of the cash-generating unit is less than its carrying amount, the impairment
loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the
other assets of the unit prorated on the basis of the carrying amount of each asset in the unit. An
impairment loss is charged to the consolidated statements of comprehensive income for the current
period. An impairment loss recognized for goodwill is not reversed in the subsequent period, whereas the
negative goodwill that resulted from bargain purchases is recognized as gain in profit or loss. The gain is
attributed to the acquirer.
If goodwill has been allocated to a cash-generating unit and certain operations on the cash-generating
unit is stopped, the goodwill associated with discontinued operations are included in the carrying amount
of the operation when determining the gain or loss on disposal. Goodwill removed is measured based on
the relative value of discontinued operations and share of the cash-generating unit retained.
Cost of Software
Software costs are initially recognized at cost or amounts attributable to the assets at the time of
acquisition.
Acquisition cost of
AND SUBSIDIARIES
Interim Consolidated Financial Statements
As of June 30, 2015 (Unaudited) and December 31, 2014 (Audited) and
For the 6 (Six) Months Period Ended June 30, 2015 and 2014 (Unaudited)
Final Draft/July 31, 2015
Paraf:
PT SILOAM INTERNATIONAL HOSPITALS Tbk
AND SUBSIDIARIES
Table of Contents
Page
Directors’ Statement Letter
Interim Consolidated Financial Statements
As of June 30, 2015 (Unaudited) and December 31, 2014 (Audited) and
For the 6 (Six) Months Period Ended June 30, 2015 and 2014 (Unaudited)
Interim Consolidated Statements of Financial Position
1
Interim Consolidated Statements of Profit or Loss and Other Comprehensive Income
3
Interim Consolidated Statements of Changes in Equity
4
Interim Consolidated Statements of Cash Flows
5
Notes to the Consolidated Financial Statements
6
Draft/July 31, 2015
paraf:
These consolidated financial statements are originally issued in Indonesian language
PT INTERNATIONAL HOSPITALS Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
As of June 30, 2015 (Unaudited) and December 31, 2014 (Audited)
(Expressed in Full Rupiah, Unless Otherwise Stated)
Notes
ASSETS
CURRENT ASSETS
Cash and Cash Equivalents
Trade Receivables
Related Parties
Third Parties
Other Current Financial Assets
Inventories
Prepaid Taxes
Prepaid Expenses
Total Current Assets
2.d, 2.e, 2.f, 2.r, 3, 10, 32, 33
2.r, 2.u, 4, 33
2.f, 10
NON-CURRENT ASSETS
Advances
Due from Related Parties Non-Trade
Property and Equipment
Goodwill
Intangible Assets
Deferred Tax Assets
Other Non-Current Financial Assets
Total Non-Current Assets
2.r, 5, 33
2.g, 2.k, 6
2.q, 7.a
2.h, 8
9
2.f, 2.r, 10, 33
2.i, 2.k, 2.u, 12
2.l, 2.m, 13.a
2.m, 2.u, 13.b
2.q, 7.d
11
TOTAL
ota ASSETS
set da a ca
June 30 2015
Rp
December 31 2014 *)
Rp
217,143,795,999
279,958,770,048
8,348,153,055
494,909,250,778
9,946,720,134
121,554,050,715
6,991,423,747
72,997,230,763
931,890,625,191
3,549,747,601
389,096,670,786
9,435,126,642
105,857,883,964
6,991,423,747
45,907,747,875
840,797,370,663
83,820,338,404
29,800,572,325
1,603,357,594,386
282,568,092,907
10,417,823,910
24,650,185,734
11,057,411,664
2,045,672,019,330
84,624,464,968
1,341,961,213
1,589,306,930,919
282,568,092,907
9,605,766,175
22,442,922,330
13,398,002,929
2,003,288,141,441
2,977,562,644,521
2,844,085,512,104
*) Restated (See Notes 39)
The accompanying notes form an integral part of these
consolidated financial statements
Draft/31 Juli 2015
1
Paraf:
These consolidated financial statements are originally issued in Indonesian language
PT SILOAM INTERNATIONAL HOSPITALS Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Continued)
As of June 30, 2015 (Unaudited) and December 31, 2014 (Audited)
(Expressed in Full Rupiah, Unless Otherwise Stated)
LIABILITIES AND EQUITY
LIABILITIES
CURRENT LIABILITIES
Trade Payables - Third Parties
Short-Term Bank Loans
Accrued Expenses
Advances from Patients
Taxes Payable
Other Current Financial Liabilities
Current Portion of Long-Term-Bank Loans
Current Portion of Deferred Gain on
Sale and Leaseback Transactions
Total Current Liabilities
NON-CURRENT LIABILITIES
Long-Term Bank Loans
Due to Related Parties Non-Trade
Deferred Gain on Sale and Leaseback Transactions
Long-Term Employment Benefit Liabilities
Deferred Tax Liabilities
Total Non-Current Liabilities
Notes
December 31 2014 *)
Rp
2.r, 14, 33
2.r, 17, 33
2.f, 2.r, 10, 16, 33
2.p
2.q, 7.b
2.r, 15, 33
2.r, 17, 33
216,851,159,707
2,957,384,394
211,351,303,689
22,984,881,918
34,237,299,989
64,740,836,229
12,786,401,133
192,762,995,806
3,540,195,011
145,004,370,941
14,914,613,299
33,130,693,777
64,476,339,112
12,435,856,488
2.j, 18, 36.a
11,897,445,548
577,806,712,607
11,897,445,548
478,162,509,982
2.r, 17, 33
2.f, 2.r, 10, 33
2.j, 18, 36.a
2.n, 19
2.q, 7.d
24,041,740,149
416,491,944,412
112,976,839,099
118,127,486,841
29,567,772,738
701,205,783,239
30,525,083,739
415,813,668,549
118,909,263,993
118,858,564,915
28,147,868,966
712,254,450,162
1,279,012,495,846
1,190,416,960,144
115,610,000,000
1,289,664,515,321
(35,431,929,892)
337,338,309,133
(12,622,920,294)
1,694,557,974,268
3,992,174,407
1,698,550,148,675
115,610,000,000
1,289,664,515,321
(25,748,354,393)
281,300,384,006
(12,622,920,294)
1,648,203,624,640
5,464,927,320
1,653,668,551,960
2,977,562,644,521
2,844,085,512,104
Total Liabilities
EQUITY
Equity Attributable to Owners of the Parent
Capital Stock, par Value - Rp100 per Share
Authorized Capital - 4,000,000,000 shares
Issued and Fully Paid: 1,156,100,000 Shares
Additional Paid-in Capital - Net
Difference in Value from Non-controlling Interest
Retained Earnings
Other Comphrehensive Income
Total Equity Attributable to Owners of the Parent
Non-Controlling Interest
TOTAL EQUITY
June 30 2015
Rp
20
2.o, 21
22
2.n, 39
2.c, 25
TOTAL LIABILITIES AND EQUITY
*) Restated (See Notes 39)
The accompanying notes form an integral part of these
consolidated financial statements
Draft/31 Juli 2015
2
Paraf:
These consolidated financial statements are originally issued in Indonesian language
PT SILOAM INTERNATIONAL HOSPITALS Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER
COMPREHENSIVE INCOME
For the 6 (Six) Months Period Ended June 30, 2015 and 2014 (Unaudited)
(Expressed in Full Rupiah, Unless Otherwise Stated)
Notes
2015
(6 Months)
Rp
2014
(6 Months)
Rp
REVENUE
2.p, 26
1,986,959,843,471
1,567,853,446,208
COST OF REVENUE
2.p, 27
(1,420,884,116,579)
(1,136,251,925,085)
566,075,726,892
431,601,521,123
(429,512,821,928)
(16,169,109,881)
(351,618,622,426)
(4,944,454,082)
120,393,795,083
75,038,444,615
3,097,929,853
(27,996,934,632)
8,972,372,520
(31,361,107,735)
95,494,790,304
52,649,709,400
(33,683,273,933)
(8,087,108,090)
61,811,516,371
44,562,601,310
OTHER COMPREHENSIVE INCOME
--
--
TOTAL COMPREHENSIVE INCOME
FOR THE PERIOD
61,811,516,371
44,562,601,310
GROSS PROFIT
Operating Expenses
Others - Net
2.f, 2.p, 10, 28
PROFIT FROM OPERATION
Interest Income
Financial Charges
29
29
PROFIT BEFORE TAX
Tax Expenses
2.q, 7.c
PROFIT FOR THE PERIOD
PROFIT FOR THE PERIOD ATTRIBUTABLE TO:
Owners of the Parent Company
Non-Controlling Interest
2.c
62,049,645,135
(238,128,764)
61,811,516,371
46,136,872,059
(1,574,270,749)
44,562,601,310
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD
ATTRIBUTABLE TO:
Owners of the Parent Company
Non-Controlling Interest
2.c
62,049,645,135
(238,128,764)
61,811,516,371
46,136,872,059
(1,574,270,749)
44,562,601,310
53.67
39.91
EARNINGS PER SHARE
Basic, Profit for the Period Attributable to
Ordinary Shareholders of the Parent Company
The accompanying notes form an integral part of these
consolidated financial statements
Draft/31 Juli 2015
2.s, 31
3
Paraf:
These consolidated financial statements are originally issued in Indonesian language
PT SILOAM INTERNATIONAL HOSPITALS Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
For the 6 (Six) Months Period Ended June 30, 2015 and 2014 (Unaudited)
(Expressed in Full Rupiah, Unless Otherwise Stated)
Total Equity Attributable to Owner of Parent
Additional Paid in Capital - Net
Capital Stock
Notes
Rp
Unappropriated
Total
Non-Controlling
Total
Attributable to
Interest
Equity
Rp
Rp
Difference in Value
Difference in Value
Comprehensive
Owners of the
Paid-in
between
from Non-Controlling
Income
Parent
Capital
Entities Under
Change in Equity
Excess of
Common Control-
Transactions of
Par
Net
Subsidiaries
Total
Rp
Rp
Rp
Rp
Rp
Rp
Interest
Rp
Rp
Rp
Rp
115,610,000,000
1,312,722,950,000
(11,329,652,726)
(11,728,781,953)
1,289,664,515,321
--
--
Non-Controlling Interest
--
--
--
--
--
--
--
--
Total Comprehensive Income for the Period
--
--
--
--
--
--
--
46,136,872,059
46,136,872,059.00
BALANCE AS OF JUNE 30, 2014
115,610,000,000
1,312,722,950,000
(11,329,652,726)
(11,728,781,953)
1,289,664,515,321
--
--
252,245,406,890
252,245,406,890
BALANCE AS OF DECEMBER 31, 2014
115,610,000,000
1,312,722,950,000
(11,329,652,726)
(11,728,781,953)
1,289,664,515,321
(25,748,354,393)
23,100,000,000
245,577,463,712
268,677,463,712
--
--
--
--
--
--
--
12,622,920,294
12,622,920,294
115,610,000,000
1,312,722,950,000
(11,329,652,726)
(11,728,781,953)
1,289,664,515,321
(25,748,354,393)
23,100,000,000
258,200,384,006
--
--
--
--
--
--
--
--
--
--
--
--
(9,683,575,499)
--
--
--
--
--
--
--
115,610,000,000
1,312,722,950,000
(11,329,652,726)
(11,728,781,953)
1,289,664,515,321
(35,431,929,892)
BALANCE AS OF DECEMBER 31, 2013
Total Equity
Other
Retained Earnings
Appropriated
206,108,534,831
206,108,534,831
--
1,611,383,050,152
27,608,728,827
1,638,991,778,979
--
--
(1,445,559,093)
(1,445,559,093)
--
46,136,872,059
(1,574,270,749)
44,562,601,310
--
1,657,519,922,211
24,588,898,985
1,682,108,821,196
1,648,203,624,640
5,464,927,320
1,653,668,551,960
(12,622,920,294)
--
--
--
281,300,384,006
(12,622,920,294)
1,648,203,624,640
5,464,927,320
1,653,668,551,960
(6,011,720,008)
--
(6,011,720,008)
--
(6,011,720,008)
--
(6,011,720,008)
--
--
(9,683,575,499)
(1,234,624,148)
(10,918,199,648)
--
62,049,645,135
62,049,645,135
--
62,049,645,135
(238,128,764)
61,811,516,371
23,100,000,000
314,238,309,133
337,338,309,133
(12,622,920,294)
1,694,557,974,268
3,992,174,407
1,698,550,148,675
Changes in Equity for June 30, 2014
Restatement for PSAK 24 (Revised 2013)
39
SALDO PADA TANGGAL 31 DESEMBER 2014
(After Restated)
Changes in Equity for June 30, 2015
Divident
Non-Controlling Interest
Jumlah Laba Komprehensif Periode Berjalan
BALANCE AS OF JUNE 30, 2015
23
The accompanying notes form an integral part of these
consolidated financial statements
Draft/31 July 2015
4
Paraf:
These consolidated financial statements are originally issued in Indonesian language
PT SILOAM INTERNATIONAL HOSPITALS Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
For the 6 (Six) Months Period Ended June 30, 2015 and 2014 (Unaudited)
(Expressed in Full Rupiah, Unless Otherwise Stated)
June 30 2015
(6 Month)
June 30 2014
(6 Month)
Rp
Rp
1,884,419,126,661
(1,405,846,438,318)
1,510,897,008,608
(1,121,485,860,994)
(328,324,280,724)
150,248,407,619
(6,201,166,363)
(10,365,126,747)
133,682,114,509
(256,027,039,218)
133,384,108,396
(1,601,801,774)
(12,662,204,566)
119,120,102,056
(20,724,511,303)
(42,258,097,006)
34,084,005
(158,461,559,783)
(6,011,720,008)
60,105,000
(129,981,104,682)
--
(185,163,707,089)
(172,179,096,688)
(3,500,000,000)
(6,715,609,560)
(10,215,609,560)
(19,319,881,805)
(6,245,705,281)
(25,565,587,086)
(61,697,202,140)
(78,624,581,718)
(1,117,771,909)
(2,322,528,372)
CASH AND CASH EQUIVALENTS AT BEGINNING PERIOD
279,958,770,048
515,437,837,445
CASH AND CASH EQUIVALENTS AT ENDING PERIOD
217,143,795,999
434,490,727,355
CASH FLOWS FROM OPERATING ACTIVITIES
Collections from Customers
Payments to Suppliers and Third Parties
Payments to Management and Employees
Cash Flows from Operations
Financial Charges Payment - Net
Payments of Taxes
Net Cash Provided by Operating Activities
CASH FLOWS FROM INVESTING ACTIVITIES
Advances for Purchase of Property and Equipment and Others
Property and Equipment and Software
Disposal
Acquisition
Payments of Divident
Net Cash Used in Investing Activities
CASH FLOWS FROM FINANCING ACTIVITIES
Share Issuance Costs
Receipts from (Payment to) Related Parties
Payments
Net Cash Used in Financing Activities
NET DECREASE IN CASH AND CASH EQUIVALENTS
Effect of Foreign Exchange on Cash and Cash Equivalents
at the End of the Period
Additional information of non-cash transaction are presented in Note 35.
The accompanying notes form an integral part of these
consolidated financial statements
Draft/31 Juli 2015
5
Paraf:
These consolidated financial statements are originally issued in Indonesian language
PT SILOAM INTERNATIONAL HOSPITALS Tbk AND SUBSIDIARIES
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS
As of June 30,2015 (Unaudited) and December 31, 2014 (Audited) and
For the 6 (Six) Months Period Ended June 30, 2015 and 2014 (Unaudited)
(In Full Rupiah, Unless Otherwise Stated)
1. General
1.a. The Company’s Establishment
PT Siloam International Hospitals Tbk (“the Company”) was established under the name of PT
Sentralindo Wirasta on August 3, 1996 based on the Deed of Establishment No. 3, which was made in
the presence of Myra Yuwono, S.H., a notary in Sukabumi. The deed of establishment was approved by
the Minister of Justice of the Republic of Indonesia in his decree No. C2-8639.HT.01.01.TH’ 96. dated
August 27, 1996 and was published in the State Gazette No. 97, Supplement No. 9518 on December 3,
1996.
The Company’s articles of association have been amended several times, and the changed was by
Notarial Deed No. 10 dated June 12, 2015, made in the presence of Nurlani Yusup, S.H., M.Kn., a notary
in Tangerang, about changes in the Company’s articles of association. Notification of changes the
Company’s articles of association have been received by the Minister of Law and Human Rights of the
Republic of Indonesia in his decree No. AHU-AH.01.03-0942343 dated June 17, 2015.
In accordance with Article 3 of the Company's articles of association, the Company's principal activity is
engage in healthcare provision, including setting up and managing hospitals, polyclinics, health facilities
and supporting infrastructure, and engaging in government healthcare programs.
The Company commenced commercial operations in 2010 after the restructuring of PT Lippo Karawaci
Tbk’s hospital units. The Company's principal activity is engage in healthcare provision, including setting
up and managing hospitals. The operation of hospital units of the Company and the subsidiaries (the
Group) are in several cities on the island of Sumatera, Java, Bali, Kalimantan, Sulawesi and Nusa
Tenggara.
The Company’s head office is located at Building of Faculty Medicine UPH , 32th. Floor. JL. Bouleverad
Jend.Sudirman No.15, Tangerang 15810, Banten - Indonesia. The parent entity of the Company is PT
Megapratama Karya Persada and the ultimate parent entity is PT Lippo Karawaci Tbk.
1.b. The Company’s Initial Public Offering
The Company’s initial public offering of 156,100,000 shares was declared effective by the Indonesian
Financial Services Authority in its letter No. S-260/D.04/2013 dated September 2, 2013, and was listed in
the Indonesian Stock Exchange on September 12, 2013.
1.c. The Group’s Structure
The Company has ownership of more than 50%, either direct or indirectly, in the following subsidiaries:
Final Draftt/July 31, 2015
6
Paraf:
These consolidated financial statements are originally issued in Indonesian language
PT SILOAM INTERNATIONAL HOSPITALS Tbk AND SUBSIDIARIES
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS (Continued)
As of June 30,2015 (Unaudited) and December 31, 2014 (Audited) and
For the 6 (Six) Months Period Ended June 30, 2015 and 2014 (Unaudited)
(In Full Rupiah, Unless Otherwise Stated)
Subsidiary
Direct
Ownership
Percentage
Indirect
Ownership
Percentage
Year of
Starting
Operation
99.99%
--
--
76,942,018
78,124,746
99.75%
--
--
520,403,206
520,403,206
99.99%
--
--
447,932,325
448,067,441
--
59.69%
--
946,696,305
926,687,462
Trading,
Dev elopment,
Land Transportation,
and Serv ices
Healthcare
99.99%
--
--
131,681,988,671
142,511,589,460
--
79.84%
2002
131,663,100,158
142,492,350,947
Jakarta
--
--
83,084,024,764
88,570,503,605
--
83.00%
2008
83,053,722,609
88,539,839,436
99.98%
--
--
229,089,717,814
237,404,060,017
--
79.61%
2007
189,871,853,460
198,183,010,595
PT Siloam Emergency Serv ices
Dev elopment
and Serv ices
Healthcare and
Pharmacy
Jakarta
Trading,
Dev elopment,
Industry ,
Mining,
Land Transportation,
Agriculture,
Printing,
Workshop and
Serv ices ex cept
Serv ices of
and Tax
Balikpapan
Healthcare
including
Hospital
Clinic,
Health Centre,
Poly clinic and
Other related
Serv ices
Tangerang
Healthcare
99.97%
Jambi
99.99%
--
2013
2,628,018,531
2,624,415,127
PT Medika Harapan Cemerlang Indonesia
Tangerang
99.99%
--
2013
3,374,923,763
2,177,323,630
PT Pancaw arna Semesta and Subsidiary
Tangerang
99.99%
--
--
69,824,348,401
70,026,074,020
--
80.00%
2006
39,267,466,842
39,467,645,852
99.99%
--
--
1,013,486,666
995,085,833
99.99%
--
--
605,033,333
605,403,333
99.99%
--
--
594,783,333
597,340,833
99.99%
--
--
115,838,660,871
102,195,707,668
--
80.00%
--
115,834,477,538
102,188,966,835
--
56.00%
--
8,003,158,670
8,003,625,337
PT Aritasindo Permaisemesta
PT Perdana Kencana Mandiri
PT Multiselaras Anugerah
PT Nusa Medika Perkasa
PT Siloam Graha Utama and Subsidiary
PT East Jakarta Medika
PT Guchi Kencana Emas and Subsidiary
PT Golden First Atlanta
PT Praw ira Tata Semesta and Subsidiary
PT Balikpapan Damai Husada
PT Diagram Healthcare Indonesia
PT Adamanisa Kary a Sejahtera
Domicile
Jakarta
Trading,
Dev elopment,
Mining,
Agriculture,
Land Transportation,
Printing and
Industry
Jakarta
Industry ,
Dev elopment,
Trading,
Land Transportation,
Workshop,
Printing,
Agriculture,
Mining
and Serv ices
Tangerang
Dev elopment,
Trading
and Serv ices
Jakarta
Healthcare
Jakarta
Bekasi
Depok
Jakarta
PT Brenada Kary a Bangsa
Tangerang
PT Harmoni Selaras Indah
Tangerang
PT Kusuma Primadana and Subsidiaries
Tangerang
PT Adijay a Buana Sakti and Subsidiaries
PT Siloam Sumsel Kemitraan
Final Draft/July 31, 2015
Main
Business
Jakarta
Tangerang
Trading,
Industry
and Serv ices
Trading,
Dev elopment,
Printing
and Serv ices
Hospital serv ices,
Clinic and
Policlinic,
Medical
Treatment Clinic
and
Other related
Serv ices
Trading,
Dev elopment,
Printing
and Serv ices
Trading,
Dev elopment,
Printing
and Serv ices
Trading,
Dev elopment,
Printing
and Serv ices
Trading,
Dev elopment,
Printing
and Serv ices
Serv ices,
Dev elopment,
Trading,
Workshop,
Land
Industry ,
Printing
and Agriculture
Trading,
Dev elopment
and Serv ices
7
Total Assets
June 30 2015
December 31 2014
Rp
Rp
Paraf:
These consolidated financial statements are originally issued in Indonesian language
PT SILOAM INTERNATIONAL HOSPITALS Tbk AND SUBSIDIARIES
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS (Continued)
As of June 30,2015 (Unaudited) and December 31, 2014 (Audited) and
For the 6 (Six) Months Period Ended June 30, 2015 and 2014 (Unaudited)
(In Full Rupiah, Unless Otherwise Stated)
Subsidiary
PT RS Siloam Hospital Sumsel
(d/h PT Kary atama Indah Sentosa)
PT Optimum Kary a Persada
Dom icile
Main
Business
Direct
Ownership
Percentage
Indirect
Ownership
Percentage
Year of
Starting
Operation
Palembang
Healtcare include
Hospital
Clinical,
and
Health Center,
Poly clinic and
Other Related
Serv ice
Serv ices,
Dev elopment,
Trading,
Workshop,
Land
Industry ,
Printing
and Agriculture
Trading,
Dev elopment,
Printing
and Serv ices
Trading,
Dev elopment,
Printing
and Serv ices
Trading,
Dev elopment,
Printing
and Serv ices
Trading,
Dev elopment,
Real Estate,
Industry ,
Printing,
Agribusiness,
Serv ices
and Transport
--
70.00%
2012
99.99%
--
99.99%
Jakarta
PT Rosela Indah Cipta
Tangerang
PT Sembada Kary a Megah
Tangerang
PT Trijay a Makmur Bersama
Tangerang
PT Visindo Galax i Jay a
Tangerang
PT Tunggal Pilar Perkasa and Subsidiaries
Tangerang
PT Tirtasari Kencana
Serang
PT Gramari Prima Nusa
Medan
PT Krisolis Jay a Mandiri
Kupang
PT Kusuma Bhakti Anugerah
Tangerang
PT Agung Cipta Ray a
Semarang
PT Bina Cipta Semesta
Padang
PT Mega Buana Bhakti
Pangkal
Pinang
PT Taruna Perkasa Megah
Final Draft/July 31, 2015
Yogy akarta
Trading,
Dev elopment,
Real Estate,
Industry ,
Printing,
Agribusiness,
Serv ices
and Transport
Hospital serv ices,
Clinic and
Policlinic,
Medical
Treatment Clinic
and
Other related
Serv ices
Hospital serv ices,
Clinic and
Policlinic,
Medical
Treatment Clinic
and
Other related
Serv ices
Healthcare
including
Hospital
Clinic,
Health Centre,
Poly clinic and
Other related
Serv ices
Healthcare
Industry ,
Hospital
Clinic,
Health Centre,
Poly clinic and
Other related
Serv ices
Healthcare
including
Hospital
Clinic,
Health Centre,
Poly clinic and
Other related
Serv ices
Healthcare
including
Hospital
Clinic,
Health Centre,
Poly clinic and
Other related
Serv ices
Healthcare
including
Hospital
Clinic,
Health Centre,
Poly clinic and
Other related
Serv ices
Healthcare
including
Hospital
Clinic,
Health Centre,
Poly clinic and
Other related
Serv ices
8
Total Assets
June 30 2015
Decem ber 31 2014
Rp
Rp
116,810,946,923
103,163,599,553
--
1,015,738,633
1,017,232,500
--
--
594,783,333
597,153,333
99.99%
--
--
614,784,490
617,340,833
99.99%
--
--
594,783,333
597,340,833
99.99%
--
--
4,992,983,333
4,993,540,833
99.99%
--
--
997,856,000,172
902,863,440,805
--
99.99%
--
1,129,843,218
1,130,696,718
--
99.99%
2014
147,381,867,408
130,585,488,531
--
99.99%
2014
106,524,173,017
69,331,687,626
--
99.99%
--
7,198,217,181
7,199,648,894
--
99.99%
--
972,260,000
972,630,000
--
99.99%
--
1,010,933,474
1,012,427,500
--
99.99%
--
6,300,553,781
5,982,333,520
--
99.99%
--
64,206,380,153
19,014,504,078
Paraf:
These consolidated financial statements are originally issued in Indonesian language
PT SILOAM INTERNATIONAL HOSPITALS Tbk AND SUBSIDIARIES
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS (Continued)
As of June 30,2015 (Unaudited) and December 31, 2014 (Audited) and
For the 6 (Six) Months Period Ended June 30, 2015 and 2014 (Unaudited)
(In Full Rupiah, Unless Otherwise Stated)
Subsidiary
Dom icile
Main
Business
PT Tataka Bumi Kary a
Bogor
PT Tataka Kary a Indah
Bandung
Healthcare
including
Hospital
Clinic,
Health Centre,
Poly clinic and
Other related
Serv ices
Trading,
Dev elopment,
Printing
and Serv ices
Trading,
Dev elopment,
Real Estate,
Industry ,
Printing,
Agribusiness,
Serv ices
and Transport
Trading,
Dev elopment,
Printing,
Agribusiness,
Serv ices
and Transport
PT Siloam Medika Cemerlang**)
Tangerang
PT Koridor Usaha Maju and Subsidiaries
Tangerang
PT Medika Sarana Traliansia and Subsidiary
PT Trisaka Raksa Waluy a
Total Assets
2015
2014
Rp
Rp
707,029,967
610,452,500
--
99.99%
--
833,607,915
837,254,382
--
99.99%
--
8,642,776,314
3,388,608,668
--
99.99%
--
463,571,085,042
458,363,437,079
--
99.99%
2008
247,006,686,384
256,054,381,752
Badung, Bali
Commence
Special Serv ice
in Healthcare
Hospital Serv ice
Clinic, Policlinic,
Priv ate Hospital
Hospital Sev ice
Clinic, Policlinic,
and Treatment
Clinic
Healthcare
including
Hospital
Clinic,
Health Centre,
Poly clinic and
Other related
Serv ices
Healthcare
including
Hospital
Clinic,
Health Centre,
Poly clinic and
Other related
Serv ices
Hospital Serv ice
Clinic, Policlinic
and Treatment
Clinic, Policlinic
Hospital Serv ice
Clinic, Policlinic
and Treatment
Clinic, Policlinic
Hospital Serv ice
Clinic, Policlinic
and Treatment
Clinic, Policlinic
Hospital Serv ice
Clinic, Policlinic
and Treatment
Clinic, Policlinic
Hospital Serv ice
Clinic, Policlinic
and Treatment
Clinic, Policlinic
Hospital Serv ice
Clinic, Policlinic
and Treatment
Clinic, Policlinic
Hospital Serv ice
Clinic, Policlinic
and Treatment
Clinic, Policlinic
Hospital Serv ice
Clinic, Policlinic
and Treatment
Clinic, Policlinic
Hospital Serv ice
Clinic, Policlinic
and Treatment
Clinic, Policlinic
Hospital Serv ice
Clinic, Policlinic
and Treatment
Clinic, Policlinic
Hospital Serv ice
Clinic, Policlinic
and Treatment
Clinic, Policlinic
Trading,
Dev elopment,
Industry ,
Printing,
Serv ice,
and Transport
--
99.99%
2008
131,271,340,936
132,992,756,044
--
99.99%
--
22,443,833,867
16,312,100,196
--
99.99%
--
600,000,000
600,000,000
--
99.99%
2014
87,008,058,935
45,004,044,700
--
99.99%
2008
56,730,153,033
53,352,264,266
--
99.99%
--
1,500,743,608
600,000,000
--
99.99%
--
600,550,000
600,000,000
--
99.99%
--
600,650,000
600,000,000
--
99.99%
--
600,000,000
600,000,000
--
99.99%
--
600,750,000
600,000,000
--
99.99%
--
600,550,000
600,000,000
--
99.99%
--
600,600,000
600,000,000
--
99.99%
--
4,860,627,351
600,000,000
--
99.99%
--
600,000,000
600,000,000
--
99.99%
--
600,000,000
600,000,000
--
99.99%
--
600,000,000
600,000,000
99.99%
--
--
37,699,077,782
38,623,709,806
PT Sentra Sejahtera Utama*)
Tangerang
Tangerang
PT Rashal Siar Cakra Medika
Jakarta
Selatan
PT Mulia Pratama Cemerlang*)
Tangerang
PT Kary a Pesona Cemerlang*)
Tangerang
PT Indah Kemilau Abadi*)
Tangerang
PT Persada Dunia Semesta*)
Tangerang
PT Inti Pratama Medika*)
Tangerang
PT Sentra Sehat Sejahtera*)
Tangerang
PT Genta Ray a Internusa*)
Tangerang
PT Sembilan Raksa Dinamika*)
Tangerang
PT Saritama Mandiri Zamrud*)
Tangerang
PT Gempita Nusa Sejahtera*)
Tangerang
PT Ary amedika Teguh Tunggal*)
Tangerang
Final Draft/July 31, 2015
Year of
Starting
Operation
--
Hospital Public
Serv ices
Tangerang
PT Mahkota Buana Selaras
Indirect
Ownership
Percentage
99.99%
Badung, Bali
PT Buana Utama Sejati*)
PT Berlian Cahay a Indah
Direct
Ownership
Percentage
--
Tangerang
9
Paraf:
These consolidated financial statements are originally issued in Indonesian language
PT SILOAM INTERNATIONAL HOSPITALS Tbk AND SUBSIDIARIES
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS (Continued)
As of June 30,2015 (Unaudited) and December 31, 2014 (Audited) and
For the 6 (Six) Months Period Ended June 30, 2015 and 2014 (Unaudited)
(In Full Rupiah, Unless Otherwise Stated)
Subsidiary
Domicile
PT Bumi Unggul Persada**)
Tangerang
PT Lintas Buana Jay a**)
NTT
PT Bina Bahtera Sejati**)
Bau Bau
PT Lintang Laksana Utama**)
Lubuk
Linggau,
Sum-sel
PT Ciptakary a Tirta Cemerlang**)
Tangerang
Main
Business
Direct
Ownership
Percentage
Indirect
Ownership
Percentage
Year of
Starting
Operation
Total Assets
June 30 2015
December 31 2014
Rp
Rp
Hospital Serv ice
Clinic, Policlinic
and Treatment
Clinic, Policlinic
Hospital Serv ice
Clinic, Policlinic
and Treatment
Clinic, Policlinic
Hospital Serv ice
Clinic, Policlinic
and Treatment
Clinic, Policlinic
Hospital Serv ice
Clinic, Policlinic
and Treatment
Clinic, Policlinic
Hospital Serv ice
Clinic, Policlinic
and Treatment
Clinic, Policlinic
--
99.99%
--
600,000,000
600,000,000
--
99.99%
--
600,000,000
600,000,000
--
99.99%
--
600,000,000
600,000,000
--
99.99%
--
600,000,000
600,000,000
--
99.99%
--
600,000,000
600,000,000
*) Established in 2014
**) Established in 2015
On July 23, 2014, TPP and MBS, acquired 75% and 25%, respectively, ownership in PT Rashal Siar
Cakra Medika (RSCM), at the acquisition cost of Rp78,540,426,657 and Rp26,180,142,219, respectively.
This transaction represent business combination (see Note 30). RSCM commenced commercial
operations in 2008.
On November 28, 2014, TPP acquired 20% ownership of MST from Steer Clear Limited, at the acquisition
cost of Rp45,030,000,000. Difference from acquisition cost and investment value amounted to
Rp25,748,354,393.
1.d. Board of Commissioners, Directors, Employees and Audit Committee
Based on Notarial Deed No. 09 dated June 12, 2015, made in the presence of Nurlani Yusup, S.H.,
M.Kn., Notary in Tangerang, which has been accepted by the Ministry of Law and Human Rights of the
Republic of Indonesia through notification No. AHU-AH.01.03-0942314 dated June 17, 2015, the
composition of the Board of Commisioners and Directors as of June 30, 2015 and December 31, 2014,
are as follows:
Final Draft/July 31, 2015
10
Paraf:
These consolidated financial statements are originally issued in Indonesian language
PT SILOAM INTERNATIONAL HOSPITALS Tbk AND SUBSIDIARIES
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS (Continued)
As of June 30,2015 (Unaudited) and December 31, 2014 (Audited) and
For the 6 (Six) Months Period Ended June 30, 2015 and 2014 (Unaudited)
(In Full Rupiah, Unless Otherwise Stated)
June 30 2015
December 31 2014
Board of Commissioners
President Commissioner
Commissioner
Independent Commissioner
Ketut Budi Wijaya
Theo Leo Sambuaga
Jenny Kuistono
Lambock V. Nahattands
Farid Harianto
dr. Niel Byron Nielson
Jonathan Limbong Parapak
Ketut Budi Wijaya
Theo Leo Sambuaga
Rahmawaty
Lambock V. Nahattands
Farid Harianto
Muladi
Jonathan Limbong Parapak
Romeo Fernandez Lledo *)
Kailas N. Raina
Prof. George Mathew
dr. Grace Frelita Indradjaja
dr. Anang Prayudi
dr. Andry
Richard Hendro Setiadi WP.
Romeo Fernandez Lledo *)
Grace Frelita Indradjaja
Andry
Kailas N. Raina
George Mathew
Anang Prayudi *)
Directors
President Director
Director
*) Independent Director
The audit committee composition as of June 30, 2015 and December 31, 2014 are as follows:
Audit Committee
Chairman
Members
: Farid Harianto
: Lim Kwang Tak
: Siswanto Pramono
As of June 30, 2015 and December 31, 2014, the Company’s Corporate Secretary is Cindy Riswantyo
and head of internal audit is Gunawan HP.
As of June 30, 2015 and December 31, 2014, the Group have 6,557 and 6,547 permanent employees,
respectively (unaudited).
2. Summary of Significant Accounting Policies
2.a. Compliance with the Financial Accounting Standards
The Group’s consolidated financial statements have been prepared and presented in accordance with the
Indonesian Financial Accounting Standards which include the Statements and the Interpretations as
issued by the Financial Accounting Standards Board of the Indonesian Institute of Accountants (DSAKIAI) and Regulation of Bapepam-LK No. VIII.G.7 regarding the “Guidance of Financial Statements
Presentation” asset forth in decree No. KEP-347/BL/2012 regarding the amendment to Regulation No.
VIII.G.7 and other accounting policies which prevailing in the Capital Market.
2.b. Basis of Measurement and Preparation of Consolidated Financial Statements
The consolidated financial statements have been prepared on a going concern assumption and on the
accrual basis, except for the consolidated statements of cash flows which used the cash basis. The basis
of measurement in the preparation of these consolidated financial statements is the historical cost
Final Draft/July 31, 2015
11
Paraf:
These consolidated financial statements are originally issued in Indonesian language
PT SILOAM INTERNATIONAL HOSPITALS Tbk AND SUBSIDIARIES
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS (Continued)
As of June 30,2015 (Unaudited) and December 31, 2014 (Audited) and
For the 6 (Six) Months Period Ended June 30, 2015 and 2014 (Unaudited)
(In Full Rupiah, Unless Otherwise Stated)
principle, except for certain accounts that were measured using other basis, as described in the
respective accounting policy.
The consolidated statements of cash flows have been presented by classifying the activities into
operating, investing and financing. The cash flows from operating activities were prepared using the
direct method.
The functional currency of the Group is Indonesian Rupiah. Transactions are recorded using the
functional currency. The reporting currency used in the preparation of these consolidated financial
statements is the Indonesian Rupiah.
The following new Interpretations of financial accounting standard (ISAK) are effective on 1 January 2015
to the Group's consolidated financial statements:
- PSAK No. 1 (Revised 2013) “Presentation of financial statements”
- PSAK No. 4 (Revised 2013) “Separate financial statements”
- PSAK No. 15 (Revised 2013) “Investment in associates and joint ventures”
- PSAK No. 24 (Revised 2013) “Employee benefits”
- PSAK No. 46 (Revised 2014) ”Income Tax”
- PSAK No. 48 (Revised 2014) “Asset Impairment”
- PSAK No. 50 (Revised 2014) “Financial Instruments: Presentation”
- PSAK No. 55 (Revised 2014) “Financial Instruments: Recognition and Measurement”
- PSAK No. 60 (Revised 2014) “Financial Instruments: Disclosure”
- PSAK No. 65 “Consolidated financial statements”
- PSAK No. 66 “Joint arrangements”
- PSAK No. 67 “Disclosure of interests in other entities”
- PSAK No. 68 “Fair value measurement”
ISAK which will be effective in the financial year beginning January 1, 2015 are as follows:
- ISAK No. 26 (Revised 2014) “Reassessment of Embedded Derivative”
2.c. Principles of Consolidation
The consolidated financial statements include the accounts of the Company and its subsidiaries
controlled directly with the percentage of ownership more than 50% as presented in Note 1.c.
Control also exists when the parent entity owns half or less of the voting power of an entity when there is:
a. power over more than half of the voting rights by virtue of an agreement with other investors;
b. power to govern the financial and operating policies of the entity under a statute or an agreement;
c. power to appoint or remove the majority of the members of the board of directors or equivalent
governing body and control of the entity is by that board or body; or
d. power to cast the majority of votes in the meetings of the board of directors or equivalent governing
body and control of the entity is by that board or body.
The existence and effect of potential voting rights that can be implemented or converted on the date of
the reporting period should be considered when assessing whether an entity has the power to govern
financial and operating policies of another.
The entities are consolidated from the date on which control was transferred to the Company and are no
longer consolidated when the Company ceases to have control. Control is obtained when the entity has
the power to govern the financial and operating policies of another entity to obtain the benefits of the
entity activity.
The consolidated financial statements have been prepared on the basis of entity concept. All significant
related intercompany accounts, transactions and profits among the consolidated companies have been
Final Draft/July 31, 2015
12
Paraf:
These consolidated financial statements are originally issued in Indonesian language
PT SILOAM INTERNATIONAL HOSPITALS Tbk AND SUBSIDIARIES
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS (Continued)
As of June 30,2015 (Unaudited) and December 31, 2014 (Audited) and
For the 6 (Six) Months Period Ended June 30, 2015 and 2014 (Unaudited)
(In Full Rupiah, Unless Otherwise Stated)
eliminated to reflect the financial position and result of operations as a whole entity.
The changes in the Company’s ownership interest in a subsidiary that do not result to a loss of control
are accounted for as equity transactions and attributed to the owners of the parent.
All major transactions and inter-company account balances (including significant unrealized gain or loss)
have been eliminated.
Non-controlling interest reflects the profit or loss and net assets of subsidiaries portion that are not
attributable directly or indirectly to the parent entity, which is presented in the consolidated statements of
profit or loss and other comprehensive income and as equity in the consolidated statements of financial
position, separated from portion which is attributable to parent.
2.d. Foreign Currency Transactions
A foreign currency is a currency other than the functional currency. Transactions during the current period
using foreign currencies were recorded at the spot rate prevailing on the transaction date.
At the reporting date, transactions in foreign currencies were translated using the following closing rates:
June 30 2015
Rp
1 United State Dollar (USD)
1 Euro (EUR)
1 Singapore Dollar (SGD)
1 Australian Dollar (AUD)
December 31 2014
Rp
13,332
14,920
9,895
10,218
12,440
15,133
9,422
10,218
Gains and losses from foreign exchange differences arising from foreign currency transactions into
Rupiah were charged to profit or loss.
Non-monetary items that are measured in terms of historical cost in a foreign currency shall be translated
using the exchange rate at the date of transaction. Non-monetary items that are measured at fair value in
a foreign currency shall be translated using the exchange rate when the fair value was determined.
2.e. Cash and Cash Equivalent
Cash consist of cash on hand and in banks, are not used as collateral and not restricted.
Cash equivalent consists of time deposits certificates with maturities of not more than or equal to six (6)
months from the date of placement and are not restricted.
2.f. Transactions with Related Parties
A related party is a person or entity that is related to the Company (referred to as the “reporting entity”),
which includes:
a) A person or a close member of that person’s family is related to a reporting entity if that person:
(i) has control or joint control over the reporting entity;
(ii) has significant influence over the reporting entity;
(iii) is a member of the key management personnel of the reporting entity or of a parent of the
reporting entity.
b) An entity is related to the reporting entity if any of following conditions applies:
(i) The entity and the reporting entity are members of the same group (which means that each
parent, subsidiary and fellow subsidiary is related to the others);
Final Draft/July 31, 2015
13
Paraf:
These consolidated financial statements are originally issued in Indonesian language
PT SILOAM INTERNATIONAL HOSPITALS Tbk AND SUBSIDIARIES
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS (Continued)
As of June 30,2015 (Unaudited) and December 31, 2014 (Audited) and
For the 6 (Six) Months Period Ended June 30, 2015 and 2014 (Unaudited)
(In Full Rupiah, Unless Otherwise Stated)
(ii) One entity is an associate or joint venture of the other entity (or an associate or joint venture of a
member of a group of which the other entity is a member);
(iii) Both entities are joint ventures of the same third party;
(iv) One entity is a joint venture of a third entity and the other entity is an associate of the third entity.
(v) The entity is a post-employment benefit plan for the benefit of employees of either the reporting
entity or an entity related to the reporting entity. If the reporting entity is managing the plan, the
sponsoring entity is also related to the reporting entity;
(vi) The entity is controlled or jointly controlled by a person identified in (a); or
(vii) A person identified in (a) (i) has significant influence over the entity or is a member of the key
management personnel of the entity (or a parent of the entity).
2.g. Inventories
Inventories are stated at the lower of cost or net realizable value. Cost is determined by the average
method. Net realizable value is the estimated selling price in the ordinary course of business less the
estimated costs of completion and selling cost. In determining obsolete inventory, the Group conducts a
regular review of each unit individually significant inventory and when obtained reliable evidence, the
Group will reduce the value of inventories to realizable value.
2.h. Prepaid Expenses
Prepaid expenses are amortized over the period benefitted using straight line method.
2.i. Property and Equipment
At initial recognition, property and equipment are measured at acquisition cost.
After initial recognition, property and equipment except land are accounted for using the cost model
which is carried at cost less accumulated depreciation and accumulated impairment losses. Land is not
depreciated and carried at cost less accumulated impairment losses.
Depreciation is computed by using the straight line method based on the estimated useful lives of the
assets as follows:
Years
Building, Infrastructure and Renovations
4 - 20
Equipment and Medical Supplies
4-8
Furniture, Fixtures and Office Equipment
4 - 10
Vehicles
5
The cost of repairs and maintenance is charged to profit or loss as incurred while significant renovations
and addition which add estimated useful life or future economic benefits are capitalized. When assets are
retired or otherwise disposed of, the cost and the related accumulated depreciation and accumulated
impairment loss, if any, are removed from the accounts and any resulting gains or losses are charged to
operations for the relevant period.
Accumulated construction costs of property and equipment are capitalized as "Construction in Progress "
and recorded in "Property and Equipment" account until the construction process is completed. These
costs are reclassified to property and equipment when the construction are completed.
The carrying amount of property and equipment is derecognized upon disposal or when no future
economic benefits are expected from its use or disposal. Any gain or loss arising on derecognition of the
asset (calculated as the difference between the net disposal proceeds and the carrying amount of the
asset) is credited or charged to operations in the period the asset is derecognized.
Final Draft/July 31, 2015
14
Paraf:
These consolidated financial statements are originally issued in Indonesian language
PT SILOAM INTERNATIONAL HOSPITALS Tbk AND SUBSIDIARIES
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS (Continued)
As of June 30,2015 (Unaudited) and December 31, 2014 (Audited) and
For the 6 (Six) Months Period Ended June 30, 2015 and 2014 (Unaudited)
(In Full Rupiah, Unless Otherwise Stated)
Management has reviewed the estimated useful lives, depreciation methods and residual values of the
propery and equipment, at each reporting period. Necessary adjustments made prospectively.
2.j. Leases
The determination of whether an arrangement is a lease agreement or lease agreement containing the
substance of the agreement based on the inception date and whether the fulfillment of the agreement
depends on the use of an asset and the agreement provides a right to use the asset.
Leases are classified as finance leases if the lease substantially transferred all the risks and benefits
related to ownership of the asset. Leases are classified as operating leases if the lease did not
substantially transfer all the risks and benefits related to ownership of the asset.
Group as Lessee
At the beginning of the lease term, the Group recognizes finance leases as assets and liabilities in the
consolidated statements of financial position at fair value of the leased property or the present value of
the minimum lease payments, if the present value is lower than the fair value. The valuation of a lease is
determined at the initial contract. The discount rate used in calculating the present value of the minimum
lease payments is the implicit interest rate of the lease, if practicable. If not, the discount rate used is the
level of the lessee's incremental borrowing rate applied. Initial direct costs of the lessee are capitalized
and recognized as an asset. Leased asset depreciation policy is consistent with the policy for the Group’s
own property and equipment.
Under an operating lease, the Group recognizes lease payments as an expense on a straight-line basis
over the lease term.
Group as lessor
The Group recognizes lease receivables in the consolidated statements of financial position as a net
lease investment. Collection of leases are considered as payments of lease principal and finance lease
income. Recognition of finance lease income is based on a pattern reflecting a constant periodic rate of
return on the Group's net investment as lessor in a finance lease.
The Group is required to present assets subject to operating leases in its consolidated statements of
financial position according to the nature of the asset. Initial direct costs incurred in negotiating an
operating lease are added to the carrying amount of the leased asset and recognized as an expense over
the lease term on the same basis as operating rental income. Contingent rents, if any, are recognized as
revenue in the periods in which they are earned. Lease income from operating leases is recognized as
income on a straight-line basis over the lease term.
Sale and Leaseback
A sale and leaseback transaction involves the sale of an asset and leasing back the same asset. If a sale
and leaseback transaction is a finance lease, any excess of sales proceeds over the carrying value is not
immediately recognized as income in the consolidated financial statements of a seller (lessee) but is
deferred and amortized over the lease period.
If a sale and leaseback transaction is an operating lease, and it is clear that the transaction is established
at fair value, any profit or loss is recognized immediately. If the sales price is below fair value, any profit
or loss is recognized immediately except if the loss is compensated by future lease payments below
market price where it is deferred and amortized in proportion to the lease payments over the period for
which the asset is expected to be used.
Final Draft/July 31, 2015
15
Paraf:
These consolidated financial statements are originally issued in Indonesian language
PT SILOAM INTERNATIONAL HOSPITALS Tbk AND SUBSIDIARIES
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS (Continued)
As of June 30,2015 (Unaudited) and December 31, 2014 (Audited) and
For the 6 (Six) Months Period Ended June 30, 2015 and 2014 (Unaudited)
(In Full Rupiah, Unless Otherwise Stated)
2.k. Impairment of Non-Financial Assets
The recover amount of non-financial assets shall be estimated at the time of the events or changes in
circumstances indicate that the carrying value may not be recoverable. An impairment loss is recognized
in the current period.
Impairment loss been recognized in prior periods is reversed if and only if, there is a change in the
estimate used to determine the assets recoverable amount since the last impairment loss is recognized.
If so, the carrying amount of the asset is increased to its recoverable amount.
The increase is a reversal of an impairment loss. The carrying amount of assets increased due to the
reversal of an impairment loss, should not exceed the carrying amount of the asset if no impairment loss
for the previous period.
2.l. Business Combination
The Group accounts for each business combination by applying the acquisition method, including
measuring non-controlling interest.
The consideration transferred for an acquisition is measured at the aggregate of the fair values of
assets given-up, liabilities assumed and equity instruments issued by the Company. Acquisition-related
costs are recognized in the profit or loss as incurred.
The Group recognizes the identifiable assets acquired and liabilities taken over at their fair value on the
acquisition date, except for the following:
• Deferred tax assets or liabilities that are related to assets acquired and liabilities taken over in
business combination are recognized and measured in accordance with PSAK No. 46 (Revised
2010), “Income Taxes”.
• Liabilities (or assets, if any) related to employee benefit arrangements from the acquiree are
recognized and measured in accordance with PSAK No. 24 (Revised 2010), “Employee Benefits”.
• Liabilities or equity instruments related to the replacement of an acquiree’s share-based payment
awards are measured in accordance with PSAK No. 53 (Revised 2010), “Share-based Payment”.
• Non-current assets (or disposal groups) acquired which are classified as held for sale are measured
in accordance with PSAK No. 58 (Revised 2009), “Non-current Assets Held for Sale and Discontinued
Operations”.
2.m. Intangible Assets
Goodwill
Goodwill arising in a business combination is recognized as an asset on the date that control is acquired.
Goodwill is measured as the excess of the sum of the consideration transferred, the amount of any
noncontrolling interests in the acquiree, and the fair value of the acquirer’s previously held equity interest
in the acquiree over the net of the acquisition date amounts of the identifiable assets acquired and the
liabilities taken over.
Goodwill is not amortized but is reviewed for impairment at least annually or more frequently when there
is an indication that the goodwill may be impaired. For the purpose of impairment testing, goodwill is
allocated to each of the cash-generating units expected to benefit from the synergies of the combination.
Final Draft/July 31, 2015
16
Paraf:
These consolidated financial statements are originally issued in Indonesian language
PT SILOAM INTERNATIONAL HOSPITALS Tbk AND SUBSIDIARIES
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS (Continued)
As of June 30,2015 (Unaudited) and December 31, 2014 (Audited) and
For the 6 (Six) Months Period Ended June 30, 2015 and 2014 (Unaudited)
(In Full Rupiah, Unless Otherwise Stated)
If the recoverable amount of the cash-generating unit is less than its carrying amount, the impairment
loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the
other assets of the unit prorated on the basis of the carrying amount of each asset in the unit. An
impairment loss is charged to the consolidated statements of comprehensive income for the current
period. An impairment loss recognized for goodwill is not reversed in the subsequent period, whereas the
negative goodwill that resulted from bargain purchases is recognized as gain in profit or loss. The gain is
attributed to the acquirer.
If goodwill has been allocated to a cash-generating unit and certain operations on the cash-generating
unit is stopped, the goodwill associated with discontinued operations are included in the carrying amount
of the operation when determining the gain or loss on disposal. Goodwill removed is measured based on
the relative value of discontinued operations and share of the cash-generating unit retained.
Cost of Software
Software costs are initially recognized at cost or amounts attributable to the assets at the time of
acquisition.
Acquisition cost of