2009 - Ciputra Development
2009 - Ciputra Development 2009 - Ciputra Development
The original consolidated financial statements included herein are in the Indonesian language PT CIPUTRA DEVELOPMENT Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI Tahun yang Berakhir pada Tanggal-tanggal 31 Desember 2010 dan 2009 (Disajikan dalam rupiah, kecuali dinyatakan lain) PT CIPUTRA DEVELOPMENT Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Years Ended December 31, 2010 and 2009 (Expressed in rupiah, unless otherwise stated) 31. KEBIJAKAN DAN TUJUAN MANAJEMEN RISIKO KEUANGAN (lanjutan) MANAJEMEN RISIKO (lanjutan) 31. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (continued) RISK MANAGEMENT (continued) c. Risiko kredit c. Credit risk Risiko kredit adalah risiko dimana salah satu pihak atas instrumen keuangan akan gagal memenuhi kewajibannya dan menyebabkan pihak lain mengalami kerugian keuangan. Risiko kredit yang dihadapi Perusahaan dan Anak Perusahaan berasal dari kegiatan operasi (terutama kredit yang diberikan kepada pelanggan) dan dari kegiatan pendanaan, termasuk investasi pada bank dan lembaga keuangan. Risiko kredit pelanggan dikelola dengan cara melakukan hubungan usaha hanya dengan pihak ketiga yang diakui dan kredibel. Perusahaan dan Anak Perusahaan memiliki kebijakan untuk semua pelanggan yang akan melakukan perdagangan secara kredit harus melalui prosedur verifikasi kredit. Khusus pelanggan yang membeli dengan cara angsuran diikat dengan klausul legal yang memadai dan jaminan berupa produk terkait. Sebagai tambahan, jumlah piutang dipantau secara terus menerus untuk mengurangi risiko piutang yang tidak tertagih. Nilai maksimal eksposur adalah sebesar nilai tercatat sebagaimana diungkapkan pada Catatan 5. Perusahaan dan Anak Perusahaan tidak memiliki risiko kredit yang terpusat secara signifikan karena piutang usaha berasal dari banyak pelanggan. Risiko kredit berasal dari saldo pada bank dan lembaga keuangan dikelola dengan menempatkan kelebihan dana hanya pada bank dan lembaga keuangan dengan peringkat kredit yang tinggi. Nilai maksimal eksposur saat ini adalah sebesar nilai tercatat sebagaimana diungkapkan pada Catatan 3 dan 4. Credit risk is the risk that one party of financial instruments will fail to discharge its obligation and will incur a financial loss to the other party. The Company and Subsidiaries are exposed to credit risk from its operating activities (primarily for trade receivable) and from its financing activities, including deposits with banks and financial institutions. Customer credit risk is managed by trading only with recognized and creditworthy third parties. It is the Company’s and Subsidiaries’ policy that all customers who wish to trade on credit terms are subject to credit verification procedures. Customers who purchase the product with installment scheme, are bond by legal clauses and collaterazing the product purchased. In addition, receivable balances are monitored on an ongoing basis to reduce the exposure to bad debts. The maximum exposure to the credit risk is represented by the carrying amounts as shown in Note 5. The Company and Subsidiaries has no concentration of credit risk as their accounts receivable relate to large number of ultimate customers. Credit risk from balances with banks and financial institutions is managed by placing investments of surplus funds only with banks and financial institutions with high credit ratings. The maximum exposure is equal to the carrying amount as disclosed in Notes 3 and 4. d. Risiko likuiditas d. Liquidity risk Risiko likuiditas didefinisikan sebagai risiko saat posisi arus kas Perusahaan dan Anak Perusahaan menunjukkan bahwa penerimaan jangka pendek tidak cukup menutupi pengeluaran jangka pendek. Liquidity risk is defined as the risk when the cash flow position of the Company and Subsidiaries indicates that the short-term revenue is not enough to cover the short-term expenditure. 87
The original consolidated financial statements included herein are in the Indonesian language PT CIPUTRA DEVELOPMENT Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI Tahun yang Berakhir pada Tanggal-tanggal 31 Desember 2010 dan 2009 (Disajikan dalam rupiah, kecuali dinyatakan lain) PT CIPUTRA DEVELOPMENT Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Years Ended December 31, 2010 and 2009 (Expressed in rupiah, unless otherwise stated) 31. KEBIJAKAN DAN TUJUAN MANAJEMEN RISIKO KEUANGAN (lanjutan) MANAJEMEN RISIKO (lanjutan) 31. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (continued) RISK MANAGEMENT (continued) d. Risiko likuiditas (lanjutan) d. Liquidity risk (continued) Kebutuhan likuiditas Perusahaan dan Anak Perusahaan secara historis timbul dari kebutuhan untuk membiayai investasi dan pengeluaran barang modal terkait dengan program perluasan usaha. Perusahaan dan Anak Perusahaan membutuhkan modal kerja yang substansial untuk membangun proyekproyek baru dan untuk mendanai operasional. Dalam mengelola risiko likuiditas, Perusahaan dan Anak Perusahaan memantau dan menjaga tingkat kas dan setara kas yang dianggap memadai untuk membiayai operasional Perusahaan dan Anak Perusahaan dan untuk mengatasi dampak dari fluktuasi arus kas. Perusahaan dan Anak Perusahaan juga secara rutin mengevaluasi proyeksi arus kas dan arus kas aktual, termasuk jadwal jatuh tempo hutang bank panjang mereka, dan terus menelaah kondisi pasar keuangan untuk memelihara fleksibilitas pendanaan dengan cara menjaga ketersediaan komitmen fasilitas kredit. Kegiatan ini meliputi pinjaman bank. Tabel dibawah ini merupakan jadwal jatuh tempo kewajiban keuangan Perusahaan dan Anak Perusahaan berdasarkan pembayaran kontraktual yang tidak didiskontokan. The Company’s and Subsidiaries’ liquidity requirements have historically arisen from the need to finance investments and capital expenditures related to the expansion of the business. The Company’s and Subsidiaries’ business requires substantial capital to construct new projects and to fund operations. In the management of liquidity risk, the Company and Subsidiaries monitor and maintain a level of cash and cash equivalents deemed adequate to finance the Company’s and Subsidiaries’ operations and to mitigate the effects of fluctuations in cash flows. The Company and Subsidiaries also regularly evaluate the projected and actual cash flows, including their long-term loan maturity profiles, and continuously assess conditions in the financial markets to maintain flexibility in funding by keeping committed credit facilities available. These activities may include bank loans. Table below summarizes the maturity profile of the Company’s and Subsidiaries financial liabilities based on contractual undiscounted payments. Dibawah Lebih dari Nilai wajar 1 tahun/ 5 tahun/ 31 Des 2010/ Below 1-2 tahun/ 3-5 tahun/ Over Jumlah/ Fair value 1 year 1-2 years 3-5 years 5 years Total Dec. 31, 2010 Kewajiban Current liabilities Hutang bank 29.001.529.286 45.000.000.000 151.500.000.000 56.657.547.603 282.159.076.889 282.159.076.889 Loans from banks Hutang usaha kepada pihak ketiga 27.157.406.998 - - - 27.157.406.998 27.157.406.998 Trade payables to third parties Hutang lain-lain 56.440.478.669 16.454.388.598 11.594.845.172 - 84.489.712.439 84.489.712.439 Other payables Biaya masih harus dibayar 26.706.732.763 - - - 26.706.732.763 26.706.732.763 Accrued expenses Hutang hubungan istimewa 65.182.569.661 - - - 65.182.569.661 65.182.569.661 Due to related parties Hutang biaya pembangunan 140.224.125.943 - - - 140.224.125.943 140.224.125.943 Construction cost payable 344.712.843.320 61.454.388.598 163.094.845.172 56.657.547.603 597.695.005.317 597.695.005.317 88
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The original consolidated financial statements included herein are in<br />
the Indonesian language<br />
PT CIPUTRA DEVELOPMENT Tbk<br />
DAN ANAK PERUSAHAAN<br />
CATATAN ATAS LAPORAN KEUANGAN<br />
KONSOLIDASI<br />
Tahun yang Berakhir pada Tanggal-tanggal<br />
31 Desember 2010 dan <strong>2009</strong><br />
(Disajikan dalam rupiah, kecuali dinyatakan lain)<br />
PT CIPUTRA DEVELOPMENT Tbk<br />
AND SUBSIDIARIES<br />
NOTES TO THE CONSOLIDATED<br />
FINANCIAL STATEMENTS<br />
Years Ended<br />
December 31, 2010 and <strong>2009</strong><br />
(Expressed in rupiah, unless otherwise stated)<br />
31. KEBIJAKAN DAN TUJUAN MANAJEMEN<br />
RISIKO KEUANGAN (lanjutan)<br />
MANAJEMEN RISIKO (lanjutan)<br />
31. FINANCIAL RISK MANAGEMENT OBJECTIVES<br />
AND POLICIES (continued)<br />
RISK MANAGEMENT (continued)<br />
d. Risiko likuiditas (lanjutan) d. Liquidity risk (continued)<br />
Kebutuhan likuiditas Perusahaan dan Anak<br />
Perusahaan secara historis timbul dari<br />
kebutuhan untuk membiayai investasi dan<br />
pengeluaran barang modal terkait dengan<br />
program perluasan usaha. Perusahaan dan<br />
Anak Perusahaan membutuhkan modal kerja<br />
yang substansial untuk membangun proyekproyek<br />
baru dan untuk mendanai operasional.<br />
Dalam mengelola risiko likuiditas, Perusahaan<br />
dan Anak Perusahaan memantau dan<br />
menjaga tingkat kas dan setara kas yang<br />
dianggap memadai untuk membiayai<br />
operasional Perusahaan dan Anak<br />
Perusahaan dan untuk mengatasi dampak dari<br />
fluktuasi arus kas. Perusahaan dan Anak<br />
Perusahaan juga secara rutin mengevaluasi<br />
proyeksi arus kas dan arus kas aktual,<br />
termasuk jadwal jatuh tempo hutang bank<br />
panjang mereka, dan terus menelaah kondisi<br />
pasar keuangan untuk memelihara fleksibilitas<br />
pendanaan dengan cara menjaga<br />
ketersediaan komitmen fasilitas kredit.<br />
Kegiatan ini meliputi pinjaman bank.<br />
Tabel dibawah ini merupakan jadwal jatuh<br />
tempo kewajiban keuangan Perusahaan dan<br />
Anak Perusahaan berdasarkan pembayaran<br />
kontraktual yang tidak didiskontokan.<br />
The Company’s and Subsidiaries’ liquidity<br />
requirements have historically arisen from the<br />
need to finance investments and capital<br />
expenditures related to the expansion of the<br />
business. The Company’s and Subsidiaries’<br />
business requires substantial capital to<br />
construct new projects and to fund operations.<br />
In the management of liquidity risk, the<br />
Company and Subsidiaries monitor and<br />
maintain a level of cash and cash equivalents<br />
deemed adequate to finance the Company’s<br />
and Subsidiaries’ operations and to mitigate<br />
the effects of fluctuations in cash flows. The<br />
Company and Subsidiaries also regularly<br />
evaluate the projected and actual cash flows,<br />
including their long-term loan maturity profiles,<br />
and continuously assess conditions in the<br />
financial markets to maintain flexibility in<br />
funding by keeping committed credit facilities<br />
available. These activities may include bank<br />
loans.<br />
Table below summarizes the maturity profile of<br />
the Company’s and Subsidiaries financial<br />
liabilities based on contractual undiscounted<br />
payments.<br />
Dibawah Lebih dari Nilai wajar<br />
1 tahun/ 5 tahun/ 31 Des 2010/<br />
Below 1-2 tahun/ 3-5 tahun/ Over Jumlah/ Fair value<br />
1 year 1-2 years 3-5 years 5 years Total Dec. 31, 2010<br />
Kewajiban<br />
Current liabilities<br />
Hutang bank 29.001.529.286 45.000.000.000 151.500.000.000 56.657.547.603 282.159.076.889 282.159.076.889 Loans from banks<br />
Hutang usaha kepada pihak ketiga 27.157.406.998 - - - 27.157.406.998 27.157.406.998 Trade payables to third parties<br />
Hutang lain-lain 56.440.478.669 16.454.388.598 11.594.845.172 - 84.489.712.439 84.489.712.439 Other payables<br />
Biaya masih harus dibayar 26.706.732.763 - - - 26.706.732.763 26.706.732.763 Accrued expenses<br />
Hutang hubungan istimewa 65.182.569.661 - - - 65.182.569.661 65.182.569.661 Due to related parties<br />
Hutang biaya pembangunan 140.224.125.943 - - - 140.224.125.943 140.224.125.943 Construction cost payable<br />
344.712.843.320 61.454.388.598 163.094.845.172 56.657.547.603 597.695.005.317 597.695.005.317<br />
88