10. NON-CURRENT ASSETS Piutang Pihak Hubungan Istimewa

R/118.AGA/9.1/04/10 PT TIGA PILAR SEJAHTERA FOOD Tbk DAN PERUSAHAAN ANAK NERACA KONSOLIDASIAN Per 31 Desember 2009 dan 2008 (Dalam Rupiah Penuh) ASET

Catatan/ Notes

PT TIGA PILAR SEJAHTERA FOOD Tbk AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS As of December 31, 2009 and 2008 (In Full Rupiah) 2009 Rp

ASSETS

2008 Rp

CURRENT ASSETS

ASET LANCAR Kas dan Setara Kas Investasi Jangka Pendek Piutang Usaha Pihak Hubungan Istimewa Pihak Ketiga

2.c, 2.u, 3, 29 2.d, 2.u, 4, 29 2.e, 2.u, 5, 29 2.t, 6

(Setelah dikurangi penyisihan piutang ragu-ragu sebesar Rp 843.384.888 masing-masing pada 31 Desember 2009 dan 2008) Piutang Lain-lain Persediaan (Setelah dikurangi penyisihan persediaan usang sebesar Rp 250.297.991 dan Rp 200.297.991 masing-masing pada 31 Desember 2009 dan 2008) Pajak Dibayar di Muka Biaya Dibayar di Muka Uang Muka Pembelian Jumlah Aset Lancar

20,493,764,492 --

20,278,782,484 6,939,803,263

1,157,632,728

1,179,362,002

141,708,647,028 2,213,537,303

82,449,213,633 229,685,626

(Net of allowance for doubtful accounts amounted to Rp 843,384,888 as of December 31, 2009 and 2008, respectively) Other Receivables

2.f, 7

234,690,363,391

195,362,283,386

Inventories (Net of allowance for obsolete inventories amounted to Rp 250,297,991 and Rp 200,297,991 as of December 31, 2009 and 2008, respectively)

2.q, 8.a

-1,854,438,867 32,526,776,620 434,645,160,429

2,685,617,474 491,314,303 8,796,151,056 318,412,213,227

Prepaid Taxes Prepaid Expenses Purchase Advances Total Current Assets

Due from Related Parties (Net of allowance for doubtful accounts amounted to Rp 3,387,701,700 as of December 31, 2009 and 2008, respectively)

9, 30

NON-CURRENT ASSETS

ASET TIDAK LANCAR Piutang Pihak Hubungan Istimewa (Setelah dikurangi penyisihan piutang ragu-ragu sebesar Rp 3.387.701.700 masing-masing pada 31 Desember 2009 dan 2008) Penyertaan Saham Aset Pajak Tangguhan Aset Tetap (Setelah dikurangi akumulasi penyusutan sebesar Rp 214.085.523.137 dan Rp 163.254.120.362 masing-masing pada 31 Desember 2009 dan 2008) Tanaman Perkebunan (Setelah dikurangi akumulasi penyusutan sebesar Rp. 9.021.902.930 dan Rp 5.761.102.646 masing-masing pada 31 Desember 2009 dan 2008) Biaya Hak atas Tanah Ditangguhkan - Bersih Uang Muka Jangka Panjang Aset Tetap yang Tidak Digunakan

2.t, 6

--

--

27,672,000 268,340,618

26,003,001 522,008,243

2.g, 2.h, 2.i, 10

543,788,070,615

559,524,386,372

2.j, 11 2.k, 12, 30 2.t, 6, 13, 30 2.g, 2.h, 2.i, 10

146,648,095,175 15,101,051,467 196,798,201,460 9,216,155,903

124,876,227,589 1,102,764,500 3,196,130,263 9,216,155,903

Rp 5,761,102,646 as of December 31, 2009 and 2008, respectively) Deferred Land Rights Cost - Net Long-term Advances Unutilized Assets

543,735,000 912,391,322,238

81,866,053 698,545,541,924

Other Assets Total Non Current Assets

1,347,036,482,667

1,016,957,755,151

2.d 2.q, 8.b

Aset Lain-lain Jumlah Aset Tidak Lancar JUMLAH ASET

Lihat Catatan atas Laporan Keuangan Konsolidasian yang merupakan bagian tidak terpisahkan dari Laporan ini

D2 - 4/16/2010

Cash and Cash Equivalents Short-Term Investments Trade Receivables Related Parties Third Parties

Investment in Shares of Stock Deferred Tax Assets Property, Plant and Equipments (Net of accumulated depreciation amounted to Rp 214,085,523,137 and Rp 163,254,120,362 as of December 31, 2009 and 2008, respectively) Biological Assets (Net of accumulated depreciation amounted to Rp 9,021,902,930 and

TOTAL ASSETS

See the Accompanying Notes which are an integral part of these Consolidated Financial Statements

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Catatan/ Notes

PT TIGA PILAR SEJAHTERA FOOD Tbk AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (Continued) As of December 31, 2009 and 2008 (In Full Rupiah) 2009 Rp

2008 Rp

LIABILITIES, MINORITY INTEREST AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Short-term Bank Loans Trade Payables - Third Parties

KEWAJIBAN LANCAR Hutang Bank Jangka Pendek Hutang Usaha - Pihak Ketiga

2.u, 14, 29 2.u, 15, 29, 30

218,832,246,200 23,064,334,322

280,321,600,297 18,233,146,575

Hutang Lain-lain Hutang Pajak Uang Muka Penjualan Beban Masih Harus Dibayar

30 2.q, 8.c 2.p, 2.u, 29, 31 2.u, 16, 29

1,623,491,681 21,016,469,582 37,141,013,698 6,545,731,673

675,160,619 30,493,777,636 1,210,244,934 6,905,387,340

Other Payables Taxes Payable Sales Advance Accrued Expenses

16,654,061,913 45,781,528,940

16,739,227,498 9,999,999,996

Current Maturities of Long-term Liabilities: Obligation under Finance Leases Long-term Bank Loans

370,658,878,009

364,578,544,895

Total Current Liabilities

Bagian Kewajiban Jangka Panjang yang Jatuh Tempo Dalam Satu Tahun: Hutang Sewa Pembiayaan Hutang Bank Jangka Panjang

2.h, 2.u, 17, 29 2.u, 18, 29

Jumlah Kewajiban Lancar

NON-CURRENT LIABILITIES Long-term Liabilities - Net of

KEWAJIBAN TIDAK LANCAR Kewajiban Jangka Panjang - Setelah Dikurangi Bagian yang Jatuh Tempo Dalam Satu Tahun: Hutang Sewa Pembiayaan 2.h, 2.u, 17, 29 Hutang Bank Jangka Panjang 2.u, 18, 29 Kewajiban Pajak Tangguhan 2.q, 8.b

41,139,156,887 492,857,020,760 1,405,486,552

36,163,273,958 214,151,586,726 164,232,579

Current Maturities: Obligation under Finance Leases Long-term Bank Loans Deferred Tax Liabilities

Hutang Pihak Hubungan Istimewa Kewajiban Diestimasi atas Imbalan Kerja Hutang Obligasi Konversi Jumlah Kewajiban Tidak Lancar

678,181,502 7,931,408,631 3,500,000,000 547,511,254,332

1,293,321,001 6,062,254,197 3,500,000,000 261,334,668,461

Due to Related Parties Estimated Liability on Employee Benefits Convertible Bonds Total Non-Current Liabilities

918,170,132,341

625,913,213,356

TOTAL LIABILITIES

423,898,562

388,865,483

MINORITY INTEREST

2.t, 6 2.l, 19 2.m, 2.t, 6, 20

JUMLAH KEWAJIBAN HAK MINORITAS

STOCKHOLDERS’ EQUITY Capital Stock Par Value

EKUITAS Modal Saham Nilai Nominal Saham Seri A: Rp 500 Saham Seri B: Rp 200 Modal Dasar pada 31 Desember 2009 dan 2008

Serie A Shares: Rp 500 Serie B Shares: Rp 200 Authorized Capital as of December 31, 2009 and 2008

Saham Seri A: 135.000.000 saham Saham Seri B: 4.652.500.000 saham Modal Ditempatkan dan Disetor Penuh

Serie A Shares: 135,000,000 shares Serie B Shares: 4,652,500,000 shares Issued and Fully Paid Capital

pada 31 Desember 2009 dan 2008 Saham Seri A: 135.000.000 lembar Saham Seri B: 1.537.000.000 lembar Agio Saham Selisih Nilai Transaksi Restrukturisasi Entitas Sepengendali Defisit

1.b, 21 2.n, 22

2.o, 23

Jumlah Ekuitas JUMLAH KEWAJIBAN, HAK MINORITAS DAN EKUITAS

374,900,000,000 217,816,324,655

as of December 31, 2009 and 2008 Serie A Shares: 135,000,000 shares Serie B Shares: 1,537,000,000 shares Additional Paid-in Capital

(70,809,879,564) (93,463,993,327)

(70,809,879,564) (131,250,768,779)

Difference in Value from Restructuring Transactions between Entities Under Common Control Deficits

428,442,451,764

390,655,676,312

Total Stockholders' Equity

1,347,036,482,667

1,016,957,755,151

374,900,000,000 217,816,324,655


D2 - 4/16/2010

TOTAL LIABILITIES, MINORITY INTEREST AND STOCKHOLDERS' EQUITY


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PT TIGA PILAR SEJAHTERA FOOD Tbk AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME For the Years Ended December 31, 2009 and 2008 (In Full Rupiah)

2009 Rp

2008 Rp

PENJUALAN - BERSIH

2.p, 24

533,194,383,227

489,171,670,400

SALES - NET

BEBAN POKOK PENJUALAN

2.p, 25

380,216,823,762

336,279,603,791

COST OF GOODS SOLD

152,977,559,465

152,892,066,609

GROSS PROFIT

21,612,563,606 25,896,437,419 47,509,001,025

20,035,306,551 19,880,479,085 39,915,785,636

OPERATING EXPENSES Sales and Marketing General and Administratives Total Operating Expenses

105,468,558,440

112,976,280,973

INCOME FROM OPERATIONS

2.u

12,485,140,964 344,044,629

(6,247,276,109) 688,903,006

OTHER INCOME (CHARGES) Gain (Loss) on Foreign Exchange Interest Income

2.g, 10

-(8,350,808,882) (59,928,359,942) 2,424,544,875 (53,025,438,356)

45,191,740 (2,725,090,890) (54,969,330,084) 3,206,456,675 (60,001,145,662)

52,443,120,084

52,975,135,311

INCOME BEFORE INCOME TAX BENEFITS (EXPENSES)

(13,125,145,580)

(14,379,471,300)

INCOME TAX BENEFITS (EXPENSES) Current Tax

(1,494,921,597) (14,620,067,177)

(1,110,018,214) (15,489,489,514)

37,823,052,907

37,485,645,797

INCOME BEFORE MINORITY INTEREST

(36,277,455)

(29,723,463)

Minority Interest

LABA BERSIH SETELAH EFEK PENYESUAIAN PRO FORMA

--

37,455,922,334

NET INCOME AFTER EFFECT OF PRO FORMA ADJUSTMENT

EFEK PENYESUAIAN PRO FORMA

--

(8,769,765,679)

EFFECT OF PRO FORMA ADJUSTMENT

37,786,775,452

28,686,156,655

NET INCOME BEFORE EFFECT OF PRO FORMA ADJUSTMENT

LABA KOTOR BEBAN USAHA Pemasaran dan Penjualan Umum dan Administrasi Jumlah Beban Usaha

2.p, 26

LABA USAHA PENGHASILAN (BEBAN) LAIN-LAIN Laba (Rugi) Selisih Kurs Pendapatan Bunga Laba Penjualan Aset Tetap Beban Administrasi Bank Beban Bunga dan Provisi Lain-lain - Bersih Jumlah Beban Lain-lain - Bersih LABA SEBELUM MANFAAT (BEBAN) PAJAK PENGHASILAN MANFAAT (BEBAN) PAJAK PENGHASILAN Pajak Kini

2.q, 8.d

Pajak Tangguhan Jumlah Beban Pajak Penghasilan - Bersih LABA SEBELUM HAK MINORITAS Hak Minoritas

LABA BERSIH SEBELUM EFEK PENYESUAIAN PRO FORMA LABA PER SAHAM

Deferred Tax Total Income Tax Expense - Net

EARNINGS PER SHARE

2.r, 27

Setelah Efek Penyesuaian Pro Forma Laba per Saham Dasar Laba per Saham Dilusian Sebelum Efek Penyesuaian Pro Forma Laba per Saham Dasar Laba per Saham Dilusian


D2 - 4/16/2010

Gain on Disposal of Equipments Bank Administration Charges Interest Expense and Provision Fee Others- Net Total Other Charges - Net

---

25.98 23.27

After Effect of Pro Forma Adjustment Earnings per Share Diluted Earnings per Share

26.21 23.48

19.90 17.83

Before Effect of Pro Forma Adjustment Earnings per Share Diluted Earnings per Share


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PT TIGA PILAR SEJAHTERA FOOD Tbk AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY For the Years Ended December 31, 2009 and 2008 (In Full Rupiah)

Catatan/

Modal Saham/

Tambahan

Selisih

Pro Forma Modal

Defisit/

Jumlah

Notes

Capital Stock

Modal Disetor/ Additional Paid in Capital

Nilai Transaksi Restrukturisasi Entitas

yang Timbul dari Transaksi Restrukturisasi

Deficits

Ekuitas/ Total Stockholders'

Sepengendali/ Difference in Value from Restructuring

Entitas Sepengendali/ Pro Forma Equity Arising from

Transactions Between Entities Under

Restructuring Transactions of Entities Under

Common Control Rp

Common Control Rp

Rp SALDO PER 31 DESEMBER 2007

Rp

249,500,000,000

20,250,000,000

1,131,738,707

Equity

Rp

239,270,365,750

Rp

(159,936,925,434)

350,215,179,023

Penerbitan Saham Baru pada Penawaran Umum Terbatas II kepada Pemegang Saham dengan Hak Memesan Efek Terlebih Dahulu Sejumlah 627.000.000 Saham Biaya Emisi Saham

Issuance of New Shares at Limited Public Offering II 125,400,000,000

201,894,000,000

--

--

--

327,294,000,000

2.n, 22

--

(4,327,675,345)

--

--

--

(4,327,675,345)

Stock Issuance Cost

71,941,618,271

Pro Forma Equity Arising from Restructuring Transactions of Entities Under Common Control

(71,941,618,271)

Difference in Value of Restructuring Transactions Between Entities Under Common Control

37,455,922,334

37,455,922,334

Net Income After Effect of Pro Forma Adjustments Pro Forma Adjustments

--

--

--

71,941,618,271

--

--

(71,941,618,271)

--

Laba Bersih Setelah Efek Penyesuaian Pro Forma

--

--

--

Penyesuaian Pro Forma

--

--

--

(311,211,984,021)

(8,769,765,679)

(319,981,749,700)

374,900,000,000

217,816,324,655

(70,809,879,564)

--

(131,250,768,779)

390,655,676,312

--

--

--

--

37,786,775,452

37,786,775,452

374,900,000,000

217,816,324,655

(70,809,879,564)

--

(93,463,993,327)

428,442,451,764

2.o, 23

SALDO PER 31 DESEMBER 2008 Laba Bersih SALDO PER 31 DESEMBER 2009


D2 - 4/16/2010

to Stockholders with Pre Emptive Rights of 627,000,000 shares

1.b, 21

Pro Forma Modal yang Timbul dari Transaksi Restrukturisasi Entitas Sepengendali Selisih Nilai Transaksi Restrukturisasi Entitas Sepengendali

BALANCE AS OF DECEMBER 31, 2007

--

BALANCE AS OF DECEMBER 31, 2008

Net Income BALANCE AS OF DECEMBER 31, 2009


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2.g, 10

2.t, 6, 13

Investasi

PT TIGA PILAR SEJAHTERA FOOD Tbk AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS For the Years Ended December 31, 2009 and 2008 (In Full Rupiah)

2009 Rp

2008 Rp

513,900,899,191 (379,531,850,704) 344,044,629

480,268,735,990 (378,469,116,283) 688,903,006

(32,523,562,334) (14,507,936,102)

(21,646,496,493) (8,499,713,080)

(36,866,955,421)

(28,445,703,477)

50,814,639,259

43,896,609,663

--(15,910,953,308)

100,000,000 (320,000,000,000) (144,851,578,152)

(13,998,286,967)

(834,688,000)

(30,793,770,516) (192,275,021,071)

(26,227,384,562) --

(252,978,031,862)

(491,813,650,714)

CASH FLOWS FROM OPERATING ACTIVITIES Cash Received from Customers Payment to Supplier and Third Parties Cash Received from Interest Income Payment for Interest and Financial Charges Payment of Income Taxes Payment to Management, Employees and Wages Net Cash Flow Provided by Operating Activities CASH FLOWS FROM FINANCING ACTIVITIES Disposal of Equipments Acquisition of Subsidiaries Purchase of Property, Plant and Equipment Payment for Land Rights Maintenance of Immature Plantation Long-term Advances Net Cash Flows Used for Investing Activities CASH FLOWS FROM

ARUS KAS DIPEROLEH DARI AKTIVITAS PENDANAAN Penerimaan dari Penambahan Modal Disetor Penerimaan dari Hutang Bank - Jangka Pendek Penerimaan dari Hutang Bank - Jangka Panjang

-633,554,004,928 515,840,000,000

322,966,324,655 340,828,614,090 226,955,053,385

FINANCING ACTIVITIES Cash Received from Additional Paid in Capital Proceed from Bank Loan - Short Term Proceed from Bank Loan - Long Term

Penerimaan dari Pihak Hubungan Istimewa Pembayaran Hutang Bank - Jangka Pendek Pembayaran Hutang Bank - Jangka Panjang Pembayaran kepada Pihak Hubungan Istimewa

-(695,043,359,025) (201,353,037,022) (593,410,225)

720,399,921 (269,815,826,156) (132,614,266,663) (2,428,746,752)

Cash Received from Related Parties Repayment of Bank Loan - Short Term Repayment of Bank Loan - Long Term Payment to Related Parties

(35,072,418,929)

(27,074,979,211)

(14,833,269,994)

(6,792,471,228)

202,498,509,733

452,744,102,041

Payment for Interest Payment of Obligation Under Finance Leases Net Cash Flows Provided by Financing Activities

335,117,130

4,827,060,990

NET INCREASE IN CASH AND CASH EQUIVALENTS

(120,135,122)

(516,992,045)

EFFECT OF FOREIGN EXCHANGE ON CASH AND CASH EQUIVALENTS

20,278,782,484

15,968,713,539

20,493,764,492

20,278,782,484

Pembayaran Bunga Pembayaran Hutang Sewa Pembiayaan Arus Kas Bersih Diperoleh dari Aktivitas Pendanaan KENAIKAN BERSIH KAS DAN SETARA KAS DAMPAK SELISIH KURS ATAS KAS DAN SETARA KAS

2.o

CASH AND CASH EQUIVALENTS AT

SALDO KAS DAN SETARA KAS PADA AWAL TAHUN

CASH AND CASH EQUIVALENTS AT

SALDO KAS DAN SETARA KAS PADA AKHIR TAHUN


D2 - 4/16/2010

BEGINNING OF THE YEAR

END OF THE YEAR


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PT TIGA PILAR SEJAHTERA FOOD Tbk AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued) For the Years Ended December 31, 2009 and 2008 (In Full Rupiah)

2009 Rp

2008 Rp

2.d, 4 3,523,123,947 15,129,316,455

Deposito Berjangka Jumlah Kas dan Setara Kas

898,393,000 12,539,065,394

1,841,324,090

6,841,324,090

Time Deposits

20,493,764,492

20,278,782,484

Total Cash and Cash Equivalents Activities not Affecting Cash Flows:

Aktivitas yang Tidak Mempengaruhi Arus Kas: Penambahan Aset Tetap Menggunakan Fasilitas Sewa Pembiayaan Reklasifikasi dari Tanaman Perkebunan Belum Menghasilkan Menjadi Tanaman Perkebunan Menghasilkan

2.h, 10

19,575,487,471

47,145,010,373

2.j, 11

11,443,569,816

23,058,196,911


D2 - 4/16/2010

Cash and Cash Equivalents at the End of the Year consist of: Cash on Hand Cash in Banks

Addition of Property, Plant and Equipment using Leasing Facilities Reclassification from Immature Plantation to Mature Plantation


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PT TIGA PILAR SEJAHTERA FOOD Tbk DAN PERUSAHAAN ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Untuk Tahun-tahun yang Berakhir 31 Desember 2009 dan 2008 (Dalam Rupiah Penuh) 1.

Umum

PT TIGA PILAR SEJAHTERA FOOD Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the Years Ended December 31, 2009 and 2008 (In Full Rupiah) 1. General

1.a. Pendirian Perusahaan PT Tiga Pilar Sejahtera Food Tbk (Perusahaan) didirikan pada tanggal 26 Januari 1990 berdasarkan Akta Pendirian No. 143 yang dibuat dihadapan Winanto Wiryomartani, S.H., Notaris di Jakarta, dengan nama PT Asia Intiselera. Akta pendirian ini disahkan oleh Menteri Kehakiman Republik Indonesia dalam Surat Keputusan No. C2-1827.HT.01.01.Th.91 tanggal 31 Mei 1991 serta diumumkan dalam Berita Negara Republik Indonesia No. 65, Tambahan No. 2504 tanggal 13 Agustus 1991.

1.a. The Company’s Establishment PT Tiga Pilar Sejahtera Tbk (the Company) was established on January 26, 1990 based on Deed of Establishment No. 143, made in presence of Winanto Wiryomartani, S.H., a notary in Jakarta, under the name of PT Asia Intiselera. The deed of establishment was approved by the Minister of Justice of the Republic of Indonesia in his Decree No. C2-1827.HT.01.01.Th.91 dated May 31, 1991 and was published in State Gazette No. 65, Supplement No. 2504 dated August 13, 1991.

Anggaran Dasar Perusahaan telah mengalami beberapa kali perubahan, terakhir melalui Akta Pernyataan Keputusan Rapat No. 41 tanggal 8 Agustus 2008 yang dibuat di hadapan Poerbaningsih Adi Warsito, S.H., Notaris di Jakarta, mengenai penyesuaian Anggaran Dasar Perusahaan dengan Undang-undang Perseroan Terbatas No. 40/2007. Perubahan ini telah disetujui oleh Menteri Hukum dan Hak Asasi Manusia melalui Surat Keputusan No. AHU-85499.AH.01.02.Tahun.2008 tanggal 13 Nopember 2008.

The Company’s Articles of Association has been amended several times, most recently by Deed of Meeting Resolution No. 41 dated August 8, 2008 made in presence of Poerbaningsih Adi Warsito, S.H., a notary in Jakarta, concerning among others, amendment of the Company’s Articles of Association to conform to Limited Liability Company Law No. 40/2007. The amendment has been approved by Minister of Law and Human Rights in his decree No. AHU-85499.AH.01.02.Tahun.2008 dated November 13, 2008.

Sesuai dengan pasal 3 anggaran dasar Perusahaan, ruang lingkup kegiatan Perusahaan meliputi usaha bidang perdagangan, perindustrian, peternakan, perkebunan, pertanian, perikanan dan jasa. Pada saat ini produk Perusahaan terutama adalah usaha industri mie, perdagangan mie, khususnya mie kering dan mie instan. Sedangkan perusahaan anak bergerak dalam bidang industri biskuit, permen, perkebunan kelapa sawit dan pembangkit tenaga listrik.

In accordance with article 3 of the Company’s articles of association, the Company’s scope of activities are engaged in trading, manufacturing, farming, plantation, agriculture, fisheries and services. Currently the Company’s products are noodles manufacturing and noodles trading, especially dry noodle and instant noodle. Its subsidiaries are involved in biscuit and candy industry, palm oil plantations, and electric power plant.

Kantor pusat Perusahaan beralamat di Wisma Alun Graha, Jl. Prof. Dr. Soepomo No. 233 Jakarta, sedangkan pabriknya berlokasi di Sragen, Jawa Tengah. Perusahaan mulai beroperasi secara komersial pada tahun 1990.

The Company’s head office is located at Wisma Alun Graha, Jl. Prof. Dr. Soepomo No. 233 Jakarta, whereas its plant is located in Sragen, Jawa Tengah. The Company started its commercial operation in 1990.

1.b. Penawaran Efek Perusahaan Pada tanggal 14 Mei 1997, Perusahaan memperoleh pernyataan efektif dari Ketua Badan Pengawas Pasar Modal - Lembaga Keuangan (Bapepam-LK) dengan suratnya No. S-919/PM/1997 untuk melakukan penawaran umum 45 juta saham dengan nilai nominal Rp 500 per saham kepada masyarakat. Pada tanggal 11 Juni 1997, saham tersebut telah efektif dicatatkan pada Bursa Efek Indonesia (BEI).

1.b. The Company’s Public Offering On May 14, 1997, the Company received an effective notification from the Chairman of the Indonesian Capital Market and Financial Institutions Supervisory Agency (Bapepam-LK) in his letter No. S-919/PM/1997 concerning public offering of 45 million shares with par value of Rp 500 per share. On June 11, 1997, the Company’s shares has been effectively listed at the Indonesia Stock Exchange (IDX).

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PT TIGA PILAR SEJAHTERA FOOD Tbk DAN PERUSAHAAN ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2009 dan 2008 (Dalam Rupiah Penuh)

PT TIGA PILAR SEJAHTERA FOOD Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2009 and 2008 (In Full Rupiah)

Pada tanggal 5 September 2002, Perusahaan memperoleh persetujuan Rapat Umum Pemegang Saham untuk mengeluarkan 230 juta saham Seri B dengan nominal Rp 200 dan obligasi konversi sebesar Rp 60 milyar yang dapat dikonversi dengan saham Perusahaan dengan harga pelaksanaan sebesar Rp 200 per saham tanpa melalui Hak Memesan Efek Terlebih Dahulu sesuai dengan Peraturan Bapepam No. IX.D.4, lampiran Kep-44/PM/1998. Pada tanggal 6 Nopember 2002 dan 29 Nopember 2002, BEI menyetujui pencatatan saham seri B dan pencatatan pre-list saham hasil obligasi konversi.

On September 5, 2002, the Company obtained approval from Annual General Meeting of Stockholders’ to issue 230 million of B series shares with par value of Rp 200 and convertible bonds amounted to Rp 60 billion which may be converted into the Company’s shares with an exercise price of Rp 200 per share without Pre Emptive Right according to Bapepam Regulation No. IX.D.4, attachment Kep-44/PM/1998. On November 6, 2002 and November 29, 2002, IDX approved for listing of the Company’s B Series shares and pre-list share from convertible bonds issued.

Pada tanggal 24 Oktober 2003, Perusahaan memperoleh persetujuan Rapat Umum Pemegang Saham untuk mengeluarkan 547,5 juta saham seri B dengan nominal Rp 200 dalam rangka Penawaran Umum Terbatas I Perusahaan. Pada tanggal 7 Nopember 2003, saham tersebut telah dicatatkan di BEI.

On October 24, 2003, the Company obtained approval from Stockholder’s General Meeting to issue 547.5 million of B Series shares with par value of Rp 200 through the Company’s Limited Public Offering I. On November 7, 2003, the shares were listed at the IDX.

Pada tanggal 27 Oktober 2003, PT Tiga Pilar Sekuritas sebagai salah satu pemilik obligasi konversi melaksanakan konversi 53 lembar obligasi konversi senilai Rp 26,5 milyar menjadi 132,5 juta saham Seri B Perusahaan dengan nominal Rp 200 per lembar saham. Saham tersebut telah dicatatkan di BEI pada tanggal 19 Nopember 2003. Saham-saham hasil pelaksanaan konversi tersebut tidak akan diperjualbelikan (lock-up) selama 6 (enam) bulan.

On October 27, 2003, PT Tiga Pilar Sekuritas, as one of the holder of convertible bonds, had converted 53 convertible bonds amounted to Rp 26.5 billion into 132.5 million of B Series shares with par value of Rp 200 per share. The shares has been effectively listed at the IDX on November 19, 2003. The shares result from conversion shall not be traded (lock-up) during first 6 (six) months.

Pada tahun 2008, Perusahaan melakukan Penawaran Umum Terbatas II kepada para pemegang saham dalam rangka penerbitan Hak Memesan Efek Terlebih Dahulu (HMETD) sejumlah 627.000.000 saham biasa Seri B dengan nilai nominal Rp 200 per saham dan harga penawaran Rp 522 per saham. Penawaran tersebut telah mendapat pemberitahuan efektif berdasarkan Surat Ketua Bapepam – LK No. S-2478/BL/2008 tanggal 28 April 2008, dan telah mendapat persetujuan dari Rapat Umum Pemegang Saham Luar Biasa Perusahaan tanggal 29 April 2008. Pada tanggal 14 Mei 2008, saham tersebut telah dicatatkan pada BEI sehingga jumlah saham yang beredar menjadi 1.672.000.000 saham pada tanggal 31 Desember 2008.

In 2008, the Company held Limited Public Offering II to its stockholders in regards of Pre Emptive Right amounted to 627,000,000 of B Series common shares with par value of Rp 200 per share and offering price at Rp 522 per share. This offering had obtained effective notification based on the Chairman of the Indonesian Capital Market and Financial Institution Supervisory Agency (Bapepam-LK) Letter No. S-2478/BL/2008 dated April 28, 2008, and had obtained approval from Company’s Extraordinary General Meeting of Stockholders on April 29, 2008. On May 14, 2008, Company’s new shares has been listed in IDX resulting to 1,672,000,000 of outstanding shares as of December 31, 2008.

1.c. Struktur Perusahaan Anak Perusahaan memiliki, baik secara langsung dan tidak langsung, lebih dari 50% saham dan/atau mempunyai kendali atas manajemen perusahaan-perusahaan anak sebagai berikut:

1.c. The Structure of Subsidiaries The Company owns, either directly or indirectly, more than 50% shares in subsidiaries and/or have a control over management of subsidiaries as follows:

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PT TIGA PILAR SEJAHTERA FOOD Tbk DAN PERUSAHAAN ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2009 dan 2008 (Dalam Rupiah Penuh) Perusahaan Anak/ Subsidiaries

Domisili/ Domicile

PT Tiga Pilar Sejahtera

Jenis Usaha/ Activities

PT TIGA PILAR SEJAHTERA FOOD Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2009 and 2008 (In Full Rupiah) Tahun Operasi KomersiaI/ Year of Commercial Operation

Persentase Kepemilikan/ Percentage of Ownership

Jumlah Aset / Total Assets

2009 %

2008 %

2009 Rp

2008 Rp

Solo

Industri dan Perdagangan Mie/Snack Noodle/Snack manufacturing and trading

1990

99.90

99.90

898,272,976,758

699,032,754,032

PT Asianiaga Prakarsatama*

Jakarta

Distribusi, Perdagangan dan Keagenan Distribution, trading and agency

--

99.95

99.95

1,080,586,637

1,080,586,637

PT Naga Mas Sakti Perkasa*

Jakarta

Industri Pengolahan Hasil Laut Marine Product Manufacturing

--

99.96

99.96

--

--

Industri Makanan Ringan Snack Manufacturing

2000

99.96

99.96

272,644,990,088

208,776,304,214

Jakarta

Industri Perkebunan Kelapa Sawit Palm Oil Plantations

1993

99.90

99.90

377,711,855,268

141,913,897,093

Solo

Industri Pembangkit Tenaga Listrik Electric Power Plant

--

99.90

99.90

90,308,424,981

71,437,896,497

PT Poly Meditra Indonesia

PT Bumiraya Investindo

Solo

PT Patra Power Nusantara**

*) Telah dihentikan kegiatan usahanya pada tahun 2002 / Discontinued operation in 2002 **) Dalam tahap pengembangan / In development stage

1.d. Board of Commissioners, Board of Directors, Audit Committee and Employees Based on Deed of Annual General Meeting of Stockholders’ No. 63 dated June 25, 2009 made in presence of Poerbaningsih Adi Warsito, S.H., a notary in Jakarta, and Deed of Annual General Meeting of Stockholders’ No. 17 dated November 28, 2007 made in presence of Tatyana Indrati Hasjim, S.H., a notary in Jakarta, the composition of the Company’s Board of Commissioners, Board of Directors and Audit Committee as of December 31, 2009 and 2008 were as follows:

1.d. Dewan Komisaris, Dewan Direksi , Komite Audit dan Karyawan Berdasarkan Akta Berita Acara Rapat Umum Pemegang Saham Tahunan No. 63 tanggal 25 Juni 2009 yang dibuat di hadapan Poerbaningsih Adi Warsito, S.H., Notaris di Jakarta dan Akta Berita Acara Rapat Umum Pemegang Saham Tahunan No. 17 tanggal 28 Nopember 2007 yang dibuat di hadapan Tatyana Indrati Hasjim, S.H., Notaris di Jakarta, susunan anggota Dewan Komisaris, Dewan Direksi dan Komite Audit Perusahaan pada tanggal 31 Desember 2009 dan 2008 adalah sebagai berikut:

Dewan Komisaris Komisaris Utama Wakil Komisaris Utama Komisaris Komisaris Independen Dewan Direksi Direktur Utama Wakil Direktur Utama Direktur Komite Audit Ketua Anggota

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2009

2008

Priyo Hadi Sutanto Kang Hongkie Widjaja Herry Beng Koestanto Budhi Istanto Suwito Bondan Haryo Winarno Haryadi

Priyo Hadi Sutanto Kang Hongkie Widjaja Herry Beng Koestanto Budhi Istanto Suwito Woerjatmoko Haryadi

Stefanus Joko Mogoginta Hengky Koestanto Edi Susanto

Stefanus Joko Mogoginta Hengky Koestanto Edi Susanto

Haryadi Trisnawan Widodo Sri Wahyuni

Woerjatmoko Trisnawan Widodo Sri Wahyuni

9

Board of Commissioners President Commissioner Vice President Commissioner Commissioners Independent Commissioners Board of Directors President Director Vice President Director Director Audit Committee Chairman Members

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2.


Remunerasi yang dibayarkan kepada Dewan Komisaris dan Direksi Perusahaan adalah sebesar Rp 4.892.210.000 dan Rp 3.037.500.000 masingmasing pada tahun 2009 dan 2008.

Remuneration paid to Board of Commissioners and Board of Directors of the Company amounted to Rp 4,892,210,000 and Rp 3,037,500,000 in 2009 and 2008, respectively.

Pada tanggal 31 Desember 2009 dan 2008 jumlah keseluruhan karyawan tetap Perusahaan dan perusahaan anak adalah 1.925 orang dan 2.063 orang (tidak diaudit).

As of December 31, 2009 and 2008, the Company and subsidiaries have 1,925 and 2,063 permanent employees, respectively (unaudited).

Ikhtisar Kebijakan Akuntansi yang Signifikan

2. Summary of Significant Accounting Policies

2.a. Dasar Pengukuran dan Penyusunan Laporan Keuangan Konsolidasian Laporan keuangan konsolidasian disajikan sesuai dengan prinsip akuntansi yang berlaku di Indonesia, yang antara lain adalah Pernyataan Standar Akuntansi Keuangan (PSAK) yang ditetapkan Ikatan Akuntan Indonesia dan Peraturan Badan Pengawas Pasar Modal dan Lembaga Keuangan (Bapepam-LK).

2.a. The Basis of Measurement and Preparation of Consolidated Financial Statements The consolidated financial statements are prepared in conformity with accounting principles generally accepted in Indonesia, among others, Statements of Financial Accounting Standard (PSAK) established by the Indonesian Institute of Accountants and Indonesia Capital Market and Financial Institutions Supervisory Agency (Bapepam-LK) regulations.

Dasar pengukuran dalam penyusunan laporan keuangan konsolidasian ini adalah konsep biaya perolehan, kecuali persediaan yang dinyatakan sebesar nilai yang lebih rendah antara harga perolehan dan nilai realisasi bersih. Laporan keuangan konsolidasian disusun dengan metode akrual kecuali laporan arus kas konsolidasian.

The basis of measurement in the preparation of these consolidated financial statements is historical cost method, except for the inventories which carried at the lower of cost or net realizable value. The consolidated financial statements are prepared based on accrual method except for consolidated statements of cash flows.

Laporan arus kas konsolidasian disajikan dengan menggunakan metode langsung dan dikelompokkan dalam aktivitas operasi, investasi dan pendanaan.

The consolidated statements of cash flows are prepared using the direct method by classifying cash flows into operating, investing and financing activities.

Mata uang pelaporan yang digunakan dalam penyusunan laporan keuangan konsolidasian ini adalah Rupiah.

The reporting currency used in the preparation of these consolidated financial statements is Rupiah.

2.b. Prinsip-prinsip Konsolidasian Laporan keuangan konsolidasian meliputi akun-akun dari Perusahaan dan perusahaan-perusahaan anak sebagaimana yang disajikan dalam Catatan 1.c.

2.b. Principles of Consolidation The consolidated financial statements include the accounts of the Company and subsidiaries as presented in Note 1.c.

Penyajian laporan keuangan konsolidasian dilakukan berdasarkan konsep satuan usaha. Seluruh akun, transaksi dan laba signifikan antara perusahaan yang dikonsolidasikan telah dieliminasi untuk mencerminkan posisi keuanga n dan hasil usaha sebagai satu kesatuan.

The consolidated financial statements have been prepared on the basis of entity concept. All significant intercompany accounts, transactions and profit among consolidated companies have been eliminated to reflect the financial position and result of operations as a whole.

2.c. Setara Kas Setara kas meliputi deposito yang jatuh tempo sama atau kurang dari 3 (tiga) bulan sejak tanggal penempatan dan tidak dijadikan jaminan.

2.c. Cash Equivalents Cash equivalents consist of time deposits with maturities not more than or equal to 3 (three) months since placement date and are not pledged as collateral.

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2.d. Investasi Deposito Berjangka Deposito berjangka yang jatuh temponya kurang dari 3 (tiga) bulan pada saat tanggal penempatan namun dijaminkan atau telah ditentukan penggunaannya dan deposito berjangka yang jatuh temponya lebih dari tiga bulan pada saat penempatan disajikan sebagai investasi jangka pendek. Deposito berjangka disajikan sebesar nilai nominal.

2.d. Investments Time Deposit Time deposits with maturities less than 3 (three) months from placement date but were pledged as collateral or have been reserved for various needs, and time deposits with maturities more than three months from placement date are presented as shortterm investments. Time deposits are presented at nominal value.

Investasi Pada Saham Investasi yang nilai wajarnya tidak tersedia dimana Perusahaan dan/atau perusahaan anak mempunyai kepemilikan saham kurang dari 20% disajikan sebesar biaya perolehan.

Investment in Shares of Stock Investment in shares of stock which fair value is not readily determinable wherein the Company and/or subsidiaries have an interest less than 20% are carried at acquisition cost.

2.e. Penyisihan Piutang Ragu-ragu Penyisihan atas piutang ragu-ragu ditetapkan berdasarkan penelaahan mendalam terhadap kondisi masing-masing pelanggan pada akhir tahun. Saldo piutang dihapuskan melalui penyisihan piutang raguragu yang bersangkutan atau langsung dihapuskan dari akun tersebut pada saat manajemen berkeyakinan penuh bahwa piutang tersebut tidak dapat ditagih.

2.e. Allowance for Doubtful Accounts An allowance for doubtful accounts is provided based on a thorough review of the status of the individual receivable accounts at the end of the year. The outstanding receivables are written-off against the respective allowance for doubtful accounts or directly written-off from the account at the time management is in opinion that these receivables are determined to be definitely uncollectible.

2.f. Persediaan Persediaan dinyatakan menurut nilai yang terendah antara harga perolehan dan nilai bersih yang dapat direalisasikan. Harga perolehan meliputi biaya-biaya yang terjadi untuk memperoleh persediaan tersebut serta membawanya ke lokasi dan kondisi yang diinginkan. Nilai bersih yang dapat direalisasikan adalah taksiran harga jual persediaan yang wajar setelah dikurangi dengan taksiran biaya untuk menyelesaikan dan menjual barang tersebut. Harga perolehan dihitung dengan menggunakan metode Masuk Pertama Keluar Pertama.

2.f. Inventories Inventories are carried at the lower of cost or net realizable value. Acquisition cost includes all costs to acquire the inventories and bringing them to their intended location and condition. Net realizable value is the estimated fair selling price of inventory less the estimated cost to complete and sell the respective inventory. Cost is determined using the First In First Out method.

Penyisihan untuk persediaan usang ditetapkan berdasarkan penelaahan berkala terhadap kondisi fisik persediaan.

An allowance for obsolete inventories is provided based on the periodic review on the condition of the inventories.

2.g. Aset Tetap Aset tetap dicatat berdasarkan model biaya yang dinyatakan sebesar biaya perolehan dikurangi akumulasi penyusutan dan akumulasi rugi penurunan nilai aset, jika ada, kecuali tanah yang dicatat pada harga perolehan dan tidak didepresiasi. Penyusutan dihitung dengan menggunakan metode garis lurus berdasarkan taksiran masa manfaat ekonomis aset tetap sebagai berikut:

2.g. Property, Plant and Equipments Property, plant and equipment are recorded based on cost model which stated at cost less their accumulated depreciation and accumulated impairment value, if any, except for land which are carried at cost and not depreciated. Depreciation is computed by using the straight line method based on the estimated useful lives of the asset as follows:

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Tahun/Year Bangunan dan Infrastruktur Mesin Peralatan Pabrik Kendaraan Perabot dan Peralatan Kantor

20 8 8 8 4–5

Building and Infrastructures Machineries Factory Equipments Vehicles Office Furniture and Fixtures

Biaya pemeliharaan dan perbaikan dibebankan ke dalam laporan laba rugi konsolidasian pada saat terjadinya sedangkan pemugaran dan penambahan yang menambah umur masa manfaat aset tetap atau taksiran manfaat di masa mendatang dikapitalisasi. Ketika aset tetap sudah tidak digunakan lagi atau dilepas, biaya perolehan serta akumulasi penyusutannya dikeluarkan dari aset tetap yang bersangkutan dan keuntungan atau kerugian yang timbul dilaporkan di dalam laporan laba rugi konsolidasian.

The cost of repairs and maintenance is charged to consolidated statement of income as incurred whilst renewals and betterments which increase useful life of property, plant and equipment or estimated future benefits are capitalized. When property, plant and equipments are retired or otherwise disposed of, their acquisition cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in the consolidated statements of income.

Aset dalam penyelesaian disajikan sebagai bagian dalam aset tetap. Seluruh biaya yang dikeluarkan, termasuk biaya pinjaman yang digunakan untuk konstruksi aset terkait selama periode konstruksi, dikapitalisasi. Aset dalam penyelesaian akan dipindahkan ke aset tetap yang tepat pada saat aset tersebut selesai dikerjakan dan siap digunakan.

Construction in progress is presented as part of property, plant and equipment. All incurred expenditures, including borrowing cost of loan used for construction of such assets during the construction period, are capitalized. Construction in progress will be transferred to the appropriate plant and equipment account when the construction is completed and ready for its intended use.

Aset tetap yang tidak digunakan lagi dikeluarkan dari aset tetap berdasarkan jumlah nilai tercatatnya.

Unutilized assets are removed from property, plant and equipment account based on its carrying value.

2.h. Sewa Suatu sewa diklasifikasikan sebagai sewa pembiayaan jika sewa tersebut mengalihkan secara substansial seluruh risiko dan manfaat yang terkait dengan kepemilikan aset. Semua bentuk sewa lainnya diklasifikasikan sebagai sewa menyewa biasa.

2.h. Lease A lease is classified as a financial lease if it transfers substantially all the risks and benefits associated with the ownerships of assets. All other leases are classified as operating leases.

Pada awal masa sewa, lessee mengakui sewa pembiayaan sebagai aset dan kewajiban dalam neraca sebesar nilai wajar aset sewaan atau sebesar nilai kini dari pembayaran sewa minimum, jika nilai kini lebih rendah dari nilai wajar. Penilaian nilai wajar aset ditentukan pada awal kontrak. Tingkat diskonto yang digunakan dalam perhitungan nilai kini dari pembayaran sewa minimum adalah tingkat suku bunga implisit dalam sewa, jika dapat ditentukan dengan praktis, jika tidak, digunakan tingkat suku bunga pinjaman inkremental lessee. Biaya langsung awal yang dikeluarkan lessee ditambahkan ke dalam jumlah yang diakui sebagai aset. Kebijakan penyusutan aset sewaan adalah konsisten dengan aset tetap yang dimiliki sendiri.

At the commencement of the lease term, lessee should record obligation under finance lease in the balance sheet as an asset and a liability at the lower of the fair value of the asset and the present value of the minimum lease payments, if present value of the minimum lease payment were lower than fair value. Fair value of asset is determined at the inception of the lease. Discount rate used to calculate the present value of minimum lease payment is the implicit interest rate of the lease, if could be determined practicably, or else at the lessee’s incremental borrowing rate. Any initial direct costs of the lessee are added to the amount recognized as asset. The depreciation policy for assets held under finance lease should be consistent with assets directly owned.

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2.i. Penurunan Nilai Asset Jumlah nilai aset yang dapat diperoleh kembali diestimasi pada saat terjadi perubahan-perubahan keadaan yang mengindikasikan bahwa nilai tercatatnya mungkin tidak dapat diperoleh kembali. Penurunan nilai aset diakui sebagai rugi pada laporan laba rugi konsolidasian tahun yang bersangkutan.

2.i. Impairment of Assets Value Recoverable value of assets is estimated whenever events and changes of circumstances indicating carrying value of such asset may not be recoverable. Impairment in asset value is recognized as loss in the respective year of consolidated statements of income.

2.j. Tanaman Perkebunan Tanaman belum menghasilkan dinyatakan sebesar harga perolehan yang meliputi biaya persiapan lahan, penanaman, pemupukan dan pemeliharaan termasuk biaya pinjaman yang digunakan untuk membiayai pengembangan tanaman belum menghasilkan dan biaya tidak langsung lainnya yang diukur secara proporsional berdasarkan luas hektar tanam.

2.j. Biological Assets Immature plantations is recognized at cost which consist of cost of field preparation, planting, fertilizing and maintenance, including borrowing cost used to finance the development of immature plantations and other indirect cost which measured proportionally based on the area wide of the fields.

Pada saat tanaman sudah menghasilkan, akumulasi harga perolehan tersebut akan direklasifikasi ke tanaman menghasilkan. Tanaman menghasilkan akan disusutkan dengan metode garis lurus selama taksiran masa produktif selama 20 tahun.

Once the plantations matured, accumulation of associated cost will be reclassified to mature plantations. Mature plantations will be depreciated using the straight line method according to its estimated useful life for 20 years.

2.k. Biaya Hak atas Tanah Ditangguhkan Seluruh biaya sehubungan dengan perolehan atau perpanjangan hak kepemilikan tanah ditangguhkan pembebanannya dan diamortisasi sepanjang periode hak atas tanah yang bersangkutan.

2.k. Deferred Land Rights Cost All expenditures related to acquisition of extension of land rights is deferred and amortized over the respective land rights period.

2.l. Kewajiban Diestimasi atas Imbalan Kerja Imbalan kerja jangka pendek diakui sebesar jumlah tak terdiskonto ketika pekerja telah memberikan jasanya kepada Perusahaan dan perusahaan anak dalam suatu periode akuntansi.

2.l. Estimated Liability on Employee Benefits Short-term employee benefit is recognized at undiscounted amount when employee has rendered his/her service in exchange to the Company and subsidiaries during an accounting period.

Imbalan pasca kerja diakui sebesar jumlah yang diukur dengan menggunakan dasar diskonto ketika pekerja telah memberikan jasanya kepada Perusahaan dan perusahaan anak dalam suatu periode akuntansi. Kewajiban dan beban diukur dengan menggunakan teknik aktuaria yang mencakup pula kewajiban konstruktif yang timbul dari praktik kebiasaan Perusahaan dan perusahaan anak. Dalam perhitungan kewajiban, imbalan harus didiskontokan dengan menggunakan metode projected unit credit.

Post employment benefit is recognized at discounted amount when the employee has rendered his/her service to the Company and subsidiaries during an accounting period. Liabilities and expenses are measured using actuarial techniques which include constructive obligation that arises from the Company and subsidiaries common practices. In calculating the liabilities, the benefit must be discounted by using projected unit credit method.

Pesangon pemutusan kontrak kerja diakui jika, dan hanya jika, Perusahaan dan perusahaan anak berkomitmen untuk: a. Memberhentikan seorang atau sekelompok pekerja sebelum tanggal pensiun normal; atau

Termination benefit is recognized when, and only when, the Company and subsidiaries is committed to either: a. Terminate the employment of an employee or group of employees before the normal retirement date; or b. Provide termination benefits as a result of an offer made in order to encourage voluntary redundancy.

b.

Menyediakan pesangon bagi pekerja yang menerima penawaran mengundurkan diri secara sukarela.

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2.m. Obligasi Diperoleh Kembali Perolehan kembali instrumen hutang yang tidak dimaksudkan sebagai pelunasan, diperlakukan seolah-olah telah terjadi pelunasan dalam laporan keuangan konsolidasian.

2.m. Treasury Bonds Reacquisition of debt instruments which is not intended as settlement of loan, treated as if a settlement is occurred in the consolidated financial statements.

2.n. Biaya Emisi Saham Biaya emisi saham merupakan biaya yang berkaitan dengan penerbitan saham Perusahaan. Biaya ini mencakup fee dan komisi yang dibayarkan kepada penjamin emisi, lembaga dan profesi penunjang pasar modal, serta biaya pencetakan dokumen pernyataan pendaftaran, biaya pencatatan efek ekuitas di bursa efek, dan biaya promosi. Biaya emisi saham dicatat sebagai pengurang modal disetor dan disajikan sebagai bagian dari ekuitas dalam akun “Tambahan Modal Disetor”.

2.n. Stock Issuance Cost Stock issuance cost represents expenses related with the issuance of Company’s stock. It consists of fees and commissions paid to underwriter, supporting institutions and professions to capital market, and printing expenses of registration documents, listing expenses at stock exchange, and promotion expenses. Stock issuance cost shall be recorded as a reduction to issued capital and presented as part of Stockholders’ Equity under “Additional Paid in Capital”.

2.o. Selisih Nilai Transaksi Restrukturisasi Entitas Sepengendali

2.o. Difference in Value from Restructuring Transactions between Entities Under Common Control The restructuring transactions between entities under common control, such as transfers of assets, liabilities, shares or other ownership instruments by re-organizing entities within the same group, does not represent changes of ownership in terms of economic substance, thus should not result in gain or loss for the group companies as a whole or for the individual entity in the group.

Transaksi restrukturisasi antara entitas sepengendali berupa pengalihan aset, kewajiban, saham atau instrumen kepemilikan lainnya yang dilakukan dalam rangka reorganisasi entitas-entitas yang berada dalam suatu kelompok yang sama, bukan merupakan perubahan pemilikan dalam arti substansi ekonomi, sehingga tidak menimbulkan laba atau rugi bagi seluruh kelompok perusahaan ataupun bagi entitas dalam kelompok perusahaan tersebut. Karena transaksi restrukturisasi antara entitas sepengendali tidak mengakibatkan perubahan substansi ekonomi pemilikan atas aset, saham, kewajiban atau instrumen kepemilikan lainnya yang dipertukarkan, maka aset maupun kewajiban yang pemilikannya (dalam bentuk hukumnya) dialihkan, dicatat sesuai dengan nilai buku seperti penggabungan usaha berdasarkan metode penyatuan kepemilikan. Selisih antara harga pengalihan dengan nilai buku tersebut bukan merupakan goodwill.

Because restructuring transactions between companies under common control do not result in changes in economic substance of ownership in transferred assets, shares, liabilities or other ownership instruments, the transferred assets or liabilities (in legal form) should be recorded at book value in a manner similar to business combination transactions using the pooling of interest method. The difference between transfer price and book value does not represent goodwill.

Jika substansi sepengendalian antara entitas yang melakukan transaksi restrukturisasi entitas sepengendali tersebut telah hilang atau terjadi pelepasan aset, kewajiban, saham, atau instrumen kepemilikan lainnya yang mendasari terjadinya selisih nilai transaksi restrukturisasi entitas sepengendali kepada pihak lain yang tidak sepengendali, maka saldo akun selisih nilai transaksi restrukturisasi entitas sepengendali akan diakui sebagai laba atau rugi yang direalisasi pada laporan laba rugi konsolidasian.

If the control, in substance, of entities involved in the restructuring transaction is no longer exist or there is a removal of assets, liabilities, stocks, or others ownership instruments that becomes the basis of difference in value of restructuring transactions between companies under common control, then the account balance of difference in value of restructuring transactions between companies under common control shall be recorded as gain or loss realized in the consolidated statements of income.

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PT TIGA PILAR SEJAHTERA FOOD Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2009 and 2008 (In Full Rupiah) 2.p. Revenue and Expenses Recognition Revenues are recognized when goods are transferred to the customers. Sales paid in advance are recognized as revenue when the goods are transferred to the customers.

2.p. Pengakuan Pendapatan dan Beban Penjualan diakui pada saat penyerahan barang kepada pelanggan. Penjualan yang dibayar di muka diakui sebagai pendapatan pada saat penyerahan barang kepada pelanggan. Beban diakui pada saat terjadinya.

Expenses are recognized as incurred.

2.q. Pajak Penghasilan Seluruh perbedaan temporer antara jumlah tercatat aset dan kewajiban dengan dasar pengenaan pajaknya diakui sebagai pajak tangguhan dengan metode kewajiban. Tarif pajak yang berlaku atau secara substansial telah berlaku digunakan dalam menentukan besarnya jumlah pajak penghasilan tangguhan.

2.q. Income Tax All temporary differences arising between tax bases of assets and liabilities and their carrying value are recognized as deferred tax using the liability method. Currently enacted tax rates are used to determine deferred income tax.

Saldo rugi fiskal yang dapat dikompensasi diakui sebagai aset pajak tangguhan apabila besar kemungkinan bahwa jumlah laba fiskal dimasa mendatang akan memadai untuk dikompensasi. Koreksi terhadap kewajiban perpajakan diakui saat surat ketetapan pajak diterima atau jika mengajukan keberatan, pada saat keputusan atas keberatan tersebut telah ditetapkan.

Deferred tax assets related to carryforward unused tax losses are recognized to the extent that it is probable the future taxable profit will available against which the unused tax losses may be utilized. Amendment to tax obligations are recognized when a tax assessment result is received or, if it appealed against, when the result of the appeal are determined.

Pajak kini diakui berdasarkan laba kena pajak untuk tahun yang bersangkutan, yang dihitung sesuai dengan peraturan perpajakan yang berlaku.

Current tax is recognized based on taxable income for the year, determined in accordance with current tax regulations.

2.r. Laba per Saham Laba per saham dasar dihitung dengan membagi laba (rugi) bersih residual (laba atau rugi setelah pajak dikurangi dividen saham utama) yang tersedia bagi pemegang saham biasa dengan jumlah rata-rata tertimbang saham biasa yang beredar dalam tahun yang bersangkutan. Laba (rugi) per saham dilusian mempertimbangkan pula instrumen keuangan lain yang diterbitkan yang sifatnya berpotensi dilutif bagi seluruh saham biasa yang beredar sepanjang periode pelaporan.

2.r. Earnings per Share Basic earnings per share is computed by dividing residual net income (loss) (income or loss after tax less preferred stock dividend) available to common stockholders with the weighted average number of outstanding common stocks in the respective year. Diluted earning per share is calculated by considering other issued financial instruments with dillutive potential to all common shares outstanding during reporting period.

2.s. Informasi Segmen Informasi segmen disajikan menurut pengelompokan (segmen) usaha. Bentuk primer pelaporan segmen adalah segmen usaha, dan segmen sekunder adalah segmen geografis. Segmen usaha adalah komponen yang dapat dibedakan dan menghasilkan suatu produk atau jasa yang berbeda menurut pembagian industri atau sekelompok produk atau jasa sejenis yang berbeda, terutama untuk para pelanggan diluar entitas Perusahaan.

2.s. Segment Information Segment information are presented based on business segment group. Primary segment reporting is based on business segment and secondary segment is based on geographical segment. A business segment is a distinguishable component of an enterprise that provides a difference product or service based on different industry or different group of product or service especially for customer outside the Company’s entity.

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PT TIGA PILAR SEJAHTERA FOOD Tbk DAN PERUSAHAAN ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2009 dan 2008 (Dalam Rupiah Penuh) Segmen geografis adalah komponen Perusahaan yang dapat dibedakan dalam menghasilkan produk atau jasa pada lingkungan/wilayah ekonomi tertentu dan memiliki risiko dan imbalan yang berbeda dengan risiko dari imbalan pada komponen yang beroperasi pada lingkungan/wilayah ekonomi lain.

PT TIGA PILAR SEJAHTERA FOOD Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2009 and 2008 (In Full Rupiah) A geographical segment is a distinguishable component of an enterprise that is engaged in providing products or services within a particular economic environment and that is subject to risks and returns that are different from those of components operating in other economic environments .

2.t. Transaksi dengan Pihak-Pihak Hubungan Istimewa Dalam transaksi bisnis normal, Perusahaan dan perusahaan anak melakukan transaksi dengan pihakpihak hub ungan istimewa sesuai definisi yang diatur dalam PSAK No. 7 “Pengungkapan Pihak-pihak yang Mempunyai Hubungan Istimewa”. Seluruh transaksi signifikan dengan pihak-pihak hubungan istimewa telah diungkapkan dalam laporan keuangan konsolidasian.

2.t. Transactions with Related Parties

2.u. Saldo dan Transaksi dalam Mata Uang Asing

2.u. Balances and Transactions Denominated in Foreign Currencies Transactions involving foreign currencies are recorded at the foreign exchange rate prevailing at the time the transactions are made. On balance sheet date, monetary assets and liabilities denominated in foreign currencies were adjusted with Bank Indonesia middle rate prevailing at that time.

In normal business course, the Company and subsidiaries perform transactions with certain related parties as defined in PSAK No. 7 “The Disclosure of Related Parties”. All significant transactions with related parties have been disclosed in the consolidated financial statements.

Transaksi dalam mata uang asing dicatat berdasarkan kurs yang berlaku pada saat transaksi dilakukan. Pada tanggal neraca, aset dan kewajiban moneter dalam mata uang asing disesuaikan dengan kurs tengah dari Bank Indonesia yang berlaku pada tanggal tersebut. Kurs yang digunakan pada tanggal konsolidasian adalah sebagai berikut:

neraca

Exchange rates used on consolidated balance sheets date are as follows:

2009 Rp USD 1 SGD 1 EUR 1

2008 Rp

9,400.00 6,698.52 13,509.69

10,950.00 ---

USD 1 SGD 1 EUR 1

Keuntungan atau kerugian kurs yang timbul dikreditkan atau dibebankan pada laporan laba rugi konsolidasian tahun yang bersangkutan.

The resulting gains or losses on foreign currencies are credited or charged to the current year consolidated statements of income.

2.v. Penggunaan Estimasi Penyusunan laporan keuangan konsolidasian sesuai dengan prinsip akuntansi yang berlaku umum di Indonesia mengharuskan manajemen untuk membuat estimasi dan asumsi yang mempengaruhi jumlah aset dan kewajiban dan pengungkapan aset dan kewajiban kontinjensi pada tanggal laporan keuangan konsolidasian serta jumlah pendapatan dan beban selama periode pelaporan.

2.v. Use of Estimates The preparation of the consolidated financial statements in accordance with accounting principles generally accepted in Indonesia requires the management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of the contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period.

Karena terdapat ketidakpastian yang melekat dalam pembuatan estimasi, nilai aset, kewajiban, pendapatan dan beban sebenarnya yang akan dilaporkan di masa mendatang kemungkinan berbeda dari estimasi tersebut.

Due to inherent uncertainty in the estimation determination, the actual amount of assets, liabilities, revenues and expenses reported in the future might possibly be different from the estimates.

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PT TIGA PILAR SEJAHTERA FOOD Tbk DAN PERUSAHAAN ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2009 dan 2008 (Dalam Rupiah Penuh) 3.


Kas dan Setara Kas

Kas Bank

3. Cash and Cash Equivalents 2009

2008

Rp

Rp Cash on Hand Cash in Banks

3,523,123,947

898,393,000

Rupiah PT Bank Central Asia Tbk

5,176,030,055

10,248,620,489

Rupiah PT Bank Central Asia Tbk

PT Bank Mandiri (Persero) Tbk PT Bank CIMB Niaga Tbk

5,043,633,015 646,302,314

87,852,019 165,358,225

PT Bank Mandiri (Persero) Tbk PT Bank CIMB Niaga Tbk

PT ANZ Panin Bank PT Bank Eksekutif

637,224,300 166,984,138

693,807,894 --

PT ANZ Panin Bank PT Bank Eksekutif

PT Bank Muamalat Indonesia Lain-lain (masing-masing dibawah Rp 100 juta)

138,228,966 329,503,176

-494,730,262

PT Bank Muamalat Indonesia Others (each below Rp 100 million)

2,402,013,371

267,156,458

PT ANZ Panin Bank (2009: USD 255,533.34; 2008:

USD 24,397.85) PT Bank Mandiri (Persero) Tbk

370,050,890

--

USD 24,397.85) PT Bank Mandiri (Persero) Tbk

(USD 39,367.12) PT Bank Central Asia Tbk

126,382,112

136,515,512

(USD 39,367.12) PT Bank Central Asia Tbk

US Dollar PT ANZ Panin Bank (2009: USD 255,533.34; 2008:

US Dollar

(2009: USD 13,444.91; 2008: USD 12,467.17)

(2009: USD 13,444.91; 2008:

PT Bank Bukopin Tbk (2009: USD 2,882.97; 2008: USD 33,237.48)

27,099,916

363,950,406

USD 12,467.17) PT Bank Bukopin Tbk

Lain-lain (masing-masing dibawah Rp 100 juta)

65,864,202

81,074,129

(2009: USD 2,882.97; 2008: USD 33,237.48) Others (each below Rp 100 million)

15,129,316,455

12,539,065,394

(2009: USD 7,006.83; 2008: USD 7,404.03) Sub Total Cash in Banks

(2009: USD 7,006.83; 2008: USD 7,404.03) Sub Jumlah Bank

Time Deposits

Deposito Berjangka Rupiah PT Bank NISP Tbk

1,841,324,090

1,841,324,090

Rupiah PT Bank NISP Tbk

PT Bank Mega Tbk Sub Jumlah Deposito Berjangka

-1,841,324,090

5,000,000,000 6,841,324,090

PT Bank Mega Tbk Sub Total Time Deposits

20,493,764,492

20,278,782,484

Jumlah Kas dan Setara Kas

Suku bunga dan periode yang berlaku untuk deposito berjangka pada tahun 2009 dan 2008 adalah sebagai berikut:

Suku Bunga Jatuh Tempo

D2/April 16, 2010

Total Cash and Cash Equivalents

Interest rate and period of maturity applied for time deposit in 2009 and 2008 are as follows:

2009

2008

5 - 7% 1 - 3 bulan/month

6-10% 1 - 3 bulan/month

17

Interest Rates Maturity

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Investasi Jangka Pendek

4. Short Term Investments 2009 Rp

2008 Rp

Rupiah

Rupiah

PT Bank Central Asia Tbk PT Bank Mega Tbk

---

4,597,410,000 153,256,123

PT Bank Central Asia Tbk PT Bank Mega Tbk

US Dollar PT Bank Central Asia Tbk (USD 199,921.20)

--

2,189,137,140

US Dollar PT Bank Central Asia Tbk (USD 199,921.20)

Jumlah Investasi Jangka Pendek

--

6,939,803,263

Total Short Term Investment

Pada tahun 2008, deposito berjangka di PT Bank Central Asia Tbk dijadikan jaminan atas fasilitas pinjaman yang diperoleh dari bank tersebut (lihat Catatan 14.g), sedangkan deposito PT Bank Mega Tbk dijaminkan untuk kontrak penjualan dengan United Nations for World Food Programme.

In 2008, time deposit in PT Bank Central Asia Tbk was pledged as collateral for loan obtained from the respective bank (see Note 14.g), whereas time deposit from PT Bank Mega Tbk was pledged as collateral for sales contract with United Nations for World Food Programme.

Suku bunga yang berlaku untuk deposito berjangka pada tahun 2008 adalah 6 – 10% dan 3.50% masing-masing untuk deposito dalam mata uang Rupiah dan US Dollar.

Interest rate applied for time deposits in 2008 were 6 – 10% and 3.50% for time deposits denominated in Rupiah and US Dollar, respectively.

5.

Piutang Usaha

Pihak Hubungan Istimewa (lihat Catatan 6)

5. Trade Receivables 2009

2008

Rp

Rp

1,157,632,728

1,179,362,002

Third Parties

Pihak Ketiga United Nations for World Food Programme PT Tata Makmur Sejahtera

Related Parties (see Note 6)

35,725,904,600 --

United Nations for World Food Programme PT Tata Makmur Sejahtera

-2,128,448,947

PT Semar Kencana Sejati PT Kereta Kencana Murni

1,744,344,344 645,217,304 --

PT Kereta Kencana Mulia PT Kereta Kencana Mandiri PT Prima Indo Meal

2,222,768,404

1,993,702,380 6,729,292,440

UD Gunung Mas PT Win Win Sejati

PT Manohara Asri PT Surya Bumi Tunggal Perkasa PT Sinar Kasih Lestari

1,924,915,404 1,895,617,248 1,875,878,383

1,275,782,278 373,206,316 1,004,179,827

PT Manohara Asri PT Surya Bumi Tunggal Perkasa PT Sinar Kasih Lestari

CV Tiga Bintang Sejahtera PT Pratama Anugerah Sejahtera

1,820,924,142 1,090,906,603

3,088,747,587 1,040,705,461

CV Tiga Bintang Sejahtera PT Pratama Anugerah Sejahtera

1,089,030,830 10,606,018,883

-27,543,067,037

Southern Pacific Foods Pty Ltd Others (each below Rp 1 billion)

142,552,031,916 (843,384,888) 141,708,647,028

83,292,598,521 (843,384,888) 82,449,213,633

Sub Total Third Parties Less: Allowance for Doubtful Accounts Sub Total Third Parties - Net

142,866,279,756

83,628,575,635

PT Semar Kencana Sejati PT Kereta Kencana Murni PT Kereta Kencana Mulia PT Kereta Kencana Mandiri PT Prima Indo Meal UD Gunung Mas PT Win Win Sejati

Southern Pacific Foods Pty Ltd Lain-lain (masing-masing dibawah Rp 1 milyar) Sub Jumlah Piutang Pihak Ketiga Dikurangi : Penyisihan Piutang Ragu-ragu Jumlah Piutang Pihak Ketiga - Bersih Jumlah Piutang Usaha - Bersih

D2/April 16, 2010

74,298,716,083 14,605,859,624 9,247,131,131 6,511,351,013 6,041,135,821 3,570,548,605 3,350,401,830 2,400,827,912

18

Total Trade Receivables - Net

paraf :

PT TIGA PILAR SEJAHTERA FOOD Tbk DAN PERUSAHAAN ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2009 dan 2008 (Dalam Rupiah Penuh) Rincian umur piutang usaha dihitung sejak tanggal faktur adalah sebagai berikut:

PT TIGA PILAR SEJAHTERA FOOD Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2009 and 2008 (In Full Rupiah) Detail of trade receivables aging based on invoice date is as follow:

2009

2008

Rp

Rp Related Parties

Pihak Hubungan Istimewa Sampai dengan 1 bulan > 1 bulan - 2 bulan > 2 bulan - 3 bulan

----

41,857 41,857 41,857

Up to 1 month > 1 month - 2 months > 2 months - 3 months

> 3 bulan - 4 bulan > 4 bulan

-1,157,632,728

83,714 1,179,152,717

> 3 months - 4 months > 4 months

Sub Jumlah Pihak Hubungan Istimewa

1,157,632,728

1,179,362,002

Sub Total Related Parties

Sampai dengan 1 bulan > 1 bulan - 2 bulan

73,047,664,037 40,673,092,330

Up to 1 month > 1 month - 2 months

> 2 bulan - 3 bulan > 3 bulan - 4 bulan

13,304,825,229 800,674,013

30,048,379,927 24,941,149,597 14,517,678,152

Third Parties

Pihak Ketiga

> 4 bulan Sub Jumlah Dikurangi: Penyisihan Piutang Ragu-ragu Sub Jumlah Pihak Ketiga - Bersih Jumlah Piutang Usaha - Bersih

14,725,776,307 142,552,031,916 (843,384,888)

6,150,646,012 83,292,598,521 (843,384,888)

141,708,647,028

82,449,213,633

142,866,279,756

83,628,575,635

Mutasi penyisihan piutang ragu-ragu adalah sebagai berikut:

Pihak Ketiga Saldo Awal Tahun

> 2 months - 3 months > 3 months - 4 months > 4 months Sub Total Less: Allowance for Doubtful Accounts Sub Total Third Parties - Net Total Trade Receivables - Net

Movement of allowance for doubtful accounts is as follows:

2009 Rp

2008 Rp

843,384,888

353,319,662

--

490,065,226

843,384,888

843,384,888

Penambahan Saldo Akhir Tahun

7,634,744,833

Rincian piutang usaha berdasarkan wilayah pelanggan adalah sebagai berikut:

Third Parties Beginning Balance Addition Ending Balance

Detail of trade receivables based on the customer‘s region is as follows:

2009 Rp

2008 Rp

Nasional Jabodetabek

94,050,133,823

50,544,722,784

National Greater Jakarta

Jawa Barat Jawa Timur Jawa Tengah

20,116,367,524 17,216,879,605 9,013,689,925

9,221,092,101 8,634,278,285 13,795,694,920

West Java East Java Central Java

1,384,343,206 360,094,677

1,888,094,166 388,078,267

Sumatera Others

1,568,155,885 143,709,664,644

-84,471,960,523

International Sub Total

(843,384,888)

(843,384,888)

Less: Allowance for Doubtful Accounts

142,866,279,756

83,628,575,635

Total Trade Receivables - Net

Sumatera Lain-lain Internasional Sub Jumlah Dikurangi: Penyisihan Piutang Ragu-ragu Jumlah Piutang Usaha - Bersih

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Rincian piutang usaha berdasarkan mata uang adalah sebagai berikut:

Rupiah

2009

2008

Rp

Rp

142,600,962,406

83,628,575,635

Rupiah

265,317,350

--

US Dollar

142,866,279,756

83,628,575,635

Total Accounts Receivable - Net

US Dollar Jumlah Piutang Usaha - Bersih

Detail of trade receivables based on currency used is as follows:

Piutang usaha PT Tiga Pilar Sejahtera dan PT Poly Meditra Indonesia, seluruhnya perusahaan anak, dijadikan jaminan atas fasilitas pinjaman yang diperoleh dari PT Bank Mandiri (Persero) Tbk (lihat Catatan 14.a).

Trade receivables of PT Tiga Pilar Sejahtera and PT Poly Meditra Indonesia, all subsidiaries, were pledged as collateral for loan obtained from PT Bank Mandiri (Persero) Tbk (see Note 14.a).

Seluruh piutang usaha PT Bumiraya Investindo, perusahaan anak, dijadikan jaminan atas fasilitas pinjaman yang diperoleh dari PT Bank Mandiri (Persero) Tbk (lihat Catatan 18.a).

All trade receivables of PT Bumiraya Investindo, a subsidiary, are pledged as collateral for loan obtained from PT Bank Mandiri (Persero) Tbk (see Note 18.a).

Berdasarkan hasil penelaahan terhadap keadaan piutang masing-masing pelanggan pada akhir tahun, manajemen berpendapat bahwa penyisihan piutang ragu-ragu yang dibentuk cukup untuk menutup kemungkinan kerugian tidak tertagihnya piutang usaha.

Based on a thorough review on the status of the each customer at the end of the year, management is in opinion that the allowance for doubtful accounts is adequate to cover possible losses from the uncollectible accounts.

6.

Saldo dan Transaksi dengan Pihak Hubungan Istimewa

6. Balance and Transactions with Related Parties

Dalam kegiatan bisnis normal, Perusahaan dan perusahaan anak melakukan transaksi dengan pihak-pihak hubungan istimewa sebagai berikut:

On normal business course, the Company and subsidiaries conduct transactions with related parties as follows:

Jumlah/

Persentase terhadap Jumlah

Amount

Aset/Kewajiban yang Bersangkutan Percentage to Respective Total Assets/Liabilities

2009 Rp

2008 Rp

2009 (%)

2008 (%) Trade Receivables

Piutang Usaha PT Sarana Indoboga Pratama PT Polar Healthcare Indonesia

1,157,632,728 --

1,157,632,728 21,729,274

0.09 --

0.11 0,00

PT Sarana Indoboga Pratama PT Polar Healthcare Indonesia

Jumlah Piutang Usaha

1,157,632,728

1,179,362,002

0.09

0.11

Total Trade Receivables

3,387,701,700

3,387,701,700

0.25

0.33

Due From Related Party Sea Hero Ltd., Hongkong

(3,387,701,700)

(3,387,701,700)

(0.25)

(0.33)

Less: Allowance for Doubtful Accounts

--

--

--

--

Total Due from Related Party Net

145,432,519,417

--

10.80

--

10,000,000,000

--

0.74

--

PT Tugu Palma Sumatera

155,432,519,417

--

11.54

--

Total Long-term Advances

Piutang Hubungan Istimewa Sea Hero Ltd., Hongkong Dikurangi : Penyisihan Piutang Ragu-ragu Jumlah Piutang Hubungan Istimewa Bersih Uang Muka Jangka Panjang PT Mitra Jaya Agro Palm PT Tugu Palma Sumatera Jumlah Uang Muka Jangka Panjang

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Long-term Advances PT Mitra Jaya Agro Palm

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PT TIGA PILAR SEJAHTERA FOOD Tbk DAN PERUSAHAAN ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2009 dan 2008 (Dalam Rupiah Penuh) Jumlah/

PT TIGA PILAR SEJAHTERA FOOD Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2009 and 2008 (In Full Rupiah) Persentase terhadap Jumlah Aset/Kewajiban

Amount

yang Bersangkutan Percentage to Respective

Hutang Obligasi Konversi Basinale Investments Ltd

2009

2008

Rp

Rp

Total Assets/Liabilities 2009 2008 (%)

(%)

3,500,000,000

3,500,000,000

0.38

0.56

Convertible Bonds Basinale Investments Ltd

603,791,502 74,390,000

276,200,000 74,390,000

0.07 0.01

0.04 0.01

PT Tugu Palma Sejahtera PT Tiga Pilar Sekuritas

--

942,731,001

--

0.15

S. Joko Mogoginta

678,181,502

1,293,321,001

0.08

0.20

Total Due to Related Parties

Due to Related Parties

Hutang Hubungan Istimewa PT Tugu Palma Sejahtera PT Tiga Pilar Sekuritas S. Joko Mogoginta Jumlah Hutang Hubungan Istimewa

Transaksi-transaksi tersebut diperlakukan sama dengan transaksi pihak ketiga, kecuali diungkapkan lain.

The transactions were conducted on equal business term as transaction with third parties, unless stated otherwise.

Piutang Sea Hero Ltd., Hong Kong merupakan piutang tanpa bunga untuk keperluan modal kerja yang diberikan PT Naga Mas Sakti Perkasa (NMSP), perusahaan anak. Berdasarkan Keputusan Rapat Direksi NMSP tanggal 18 Desember 2000 diputuskan untuk menyisihkan seluruh piutang ini sehubungan dengan terhentinya aktivitas Sea Hero Ltd., Hong Kong dan tidak adanya realisasi pembayaran.

Due from Sea Hero Ltd., Hong Kong represents non-interest bearing receivable of working capital from PT Naga Mas Sakti Perkasa (NMSP), a subsidiary. Based on NMSP Directors Meeting Resolution dated December 18, 2000, it was decided to provide full allowance on this receivable since the operation of the Sea Hero Ltd., Hong Kong was discontinued and there was no settlement.

Rincian sifat hubungan istimewa dan jenis transaksi dengan pihak hubungan istimewa :

A detail of the account and transction with related parties is as follows:

Nama Perusahaan/ Name of Company PT Sarana Indoboga Pratama Sea Hero Ltd., Hongkong PT Polar Healthcare Indonesia PT Mitra Jaya Agro Palm PT Tugu Palma Sumatera Basinale Investments Ltd. PT Tiga Pilar Sekuritas Stefanus Joko Mogoginta PT Tugu Palma Sejahtera

D2/April 16, 2010

Sifat Hubungan Istimewa/ Nature of Related Parties Perusahaan Afiliasi/ Affiliated Company Perusahaan Afiliasi/ Affiliated Company Perusahaan Afiliasi/ Affiliated Company Perusahaan Afiliasi/ Affiliated Company Perusahaan Afiliasi/ Affiliated Company Pemegang Saham/ Stockholder Perusahaan Afiliasi/ Affiliated Company Direktur Utama/ President Director Perusahaan Afiliasi/ Affiliated Company

Sifat Transaksi/ Nature of Transactions Piutang usaha/ Trade receivables Pinjaman operasional tanpa bunga/ Non-interest bearing operational loan Piutang usaha/ Trade receivables Uang muka pengembangan lahan perkebunan/ Advances for development of plantation area Uang muka pengembangan lahan perkebunan/ Advances for development of plantation area Pemegang obligasi konversi Perusahaan/ The Company’s convertible bondholder Beban antarperusahaan yang tidak dikenakan bunga/ Non interest bearing of intercompany charges Pinjaman tanpa bunga/ Non interest borrowing Beban antarperusahaan yang tidak dikenakan bunga/ Non interest bearing of intercompany charges

21

paraf :



Persediaan

7. Inventories 2009

2008 Rp

Rp Bahan Baku Bahan Pembantu Barang Jadi Suku Cadang dan Bahan Bakar Lain-lain Sub Jumlah Dikurangi : Penyisihan Persediaan Usang Jumlah Persediaan - Bersih

135,604,968,579

119,960,702,155

Raw Materials

44,260,392,872 33,262,123,054 16,350,415,014

35,703,391,706 26,007,174,725 9,829,536,810

Supporting Materials Finished Goods Sparepart and Fuel

5,462,761,863 234,940,661,382

4,061,775,981 195,562,581,377

Others Sub Total

(250,297,991)

(200,297,991)

Less: Allowance for Obsolete Inventories

234,690,363,391

195,362,283,386

Total Inventories - Net

Pada tanggal 31 Desember 2009 dan 2008, persediaan telah diasuransikan terhadap risiko kebakaran, gempa bumi dan risiko lainnya pada PT Asuransi Central Asia dan PT Tripakarta dengan jumlah pertanggungan masing-masing sebesar Rp 224,2 milyar dan Rp 96,9 milyar. Manajemen berpendapat bahwa nilai pertanggungan tersebut memadai untuk menutup kemungkinan kerugian persediaan.

As of December 31, 2009 and 2008, inventories have been insured against fire, earthquake and other risks to PT Asuransi Central Asia and PT Tripakarta with sum insured amounted to Rp 224.2 billions and Rp 96.9 billions, respectively. Management is in opinion that the sum insured is adequate to cover any possible inventories losses.

Persediaan PT Tiga Pilar Sejahtera dan PT Poly Meditra Indonesia, seluruhnya perusahaan anak, dijadikan jaminan atas fasilitas pinjaman yang diperoleh dari PT Bank Mandiri (Persero) Tbk (lihat Catatan 14.a).

Inventories of PT Tiga Pilar Sejahtera and PT Poly Meditra Indonesia, all subsidiaries, are pledged as collateral for loan obtained from PT Bank Mandiri (Persero) Tbk (see Note 14.a).

Persediaan PT Bumiraya Investindo, perusahaan anak, dijadikan jaminan atas fasilitas pinjaman yang diperoleh dari PT Bank Mandiri (Persero) Tbk (lihat Catatan 18.a).

Inventories of PT Bumiraya Investindo, a subsidiary, were pledged as collateral for loan obtained from PT Bank Mandiri (Persero) Tbk (see Note 18.a).

Manajemen berpendapat bahwa penyisihan penurunan nilai persediaan cukup untuk menutup kemungkinan yang timbul akibat penurunan nilai persediaan.

Management is in opinion that allowance for obsolete inventory is adequate to cover losses from impairment on the value of inventories.

8.

Perpajakan

a.

Pajak Dibayar di Muka

8. Taxation a. Prepaid Taxes 2009

2008

Rp

Rp The Company Income Taxes

Perusahaan Pajak Penghasilan Pasal 23 Pasal 28A Jumlah Pajak Dibayar di Muka

D2/April 16, 2010

---

953,876,525 1,731,740,949

--

2,685,617,474

22

Article 23 Article 28A Total Prepaid Taxes

paraf :

PT TIGA PILAR SEJAHTERA FOOD Tbk DAN PERUSAHAAN ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2009 dan 2008 (Dalam Rupiah Penuh) b.

PT TIGA PILAR SEJAHTERA FOOD Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2009 and 2008 (In Full Rupiah) b. Deferred Tax

Pajak Tangguhan

Pada tahun 2009 telah berlaku peraturan perpajakan baru, diantaranya perubahan tarif pajak penghasilan Badan. Dalam menghitung pajak tangguhan, Perusahaan dan perusahaan anak menggunakan tarif pajak penghasilan sebesar 25% untuk tahun 2009 dan 28% untuk tahun 2008.

In 2009, new tax regulation has become effective, among others, change incorporate income tax rate. In calculating deferred tax, the Company and subsidiaries are using income tax rate of 25% for 2009 and 28% for 2008.

Mutasi aset pajak tangguhan Perusahaan pada tanggal 31 Desember 2009 dan 2008 adalah sebagai berikut:

Mutation of the Company’s deferred tax asset (liabilities) as of December 31, 2009 and 2008 is as follows:

Dibebankan (Dikreditkan) pada

2007

Laporan Laba (Rugi) Konsolidasian/ Charged (Credited) to Consolidated Statements of Income Rp

Rp Perusahaan Rugi Fiskal Penyisihan Piutang Ragu-ragu Penyisihan Tidak Terpulihkan Rugi Fiskal Jumlah Perusahaan Anak Aset Pajak Tangguhan Kewajiban Pajak Tangguhan

c.

Dibebankan (Dikreditkan) pada

2008

Laporan Laba (Rugi) Konsolidasian/ Charged (Credited) to Consolidated Statements of Income Rp

Rp

19,829,163,289 (6,212,828)

22,490,586,251 86,979,597

(22,490,586,251) (9,319,243)

-77,660,354

(2,754,615,387) --

(19,822,950,461) --

(22,577,565,848) --

22,577,565,848 77,660,354

-77,660,354

1,467,793,878 --

(945,785,635)

522,008,243 --

(331,327,979)

190,680,264 --

--

(164,232,579)

(164,232,579)

(1,241,253,973)

(1,405,486,552)

Pajak Pertambahan Nilai Sub Jumlah

2009

2008

Rp

Rp

Pasal 25 Pasal 21 Pajak Pertambahan Nilai Tagihan Pajak Lainnya Sub Jumlah Jumlah Hutang Pajak

D2/April 16, 2010

Subsidiaries Deferred Tax Assets Deferred Tax Liabilities

The Company 201,863,906

--

132,045,248 28,275,759 2,035,280

132,045,246 -537,305,800

739,903,996 1,104,124,189

-669,351,046

Income Taxes Article 29 Article 23 Article 25 Article 21 Value Added Tax Sub Total Subsidiaries Income Taxes

Perusahaan Anak Pajak Penghasilan Pasal 29 Pasal 23

The Company Tax Loss Allowance for Doubtful Accounts Allowance for Unrecoverable Tax Loss Total

c. Taxes Payable

Perusahaan

Pasal 23 Pasal 25 Pasal 21

Rp

2,661,422,962 93,192,425

Hutang Pajak

Pajak Penghasilan Pasal 29

2009

8,871,658,346 1,977,936,779

10,456,312,774 1,842,452,368

376,519,467 18,432,024 8,079,992,016

531,444,981 220,403,047 16,186,006,659

Article 25 Article 21 Value Added Tax

587,806,761 19,912,345,393

587,806,761 29,824,426,590

Other Tax Payables Sub Total

21,016,469,582

30,493,777,636

Total Taxes Payable

23

Article 29 Article 23

paraf :

PT TIGA PILAR SEJAHTERA FOOD Tbk DAN PERUSAHAAN ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2009 dan 2008 (Dalam Rupiah Penuh) d.

PT TIGA PILAR SEJAHTERA FOOD Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2009 and 2008 (In Full Rupiah) d. Income Tax Benefit (Expense)

Manfaat (Beban) Pajak Penghasilan 2009 Rp

2008 Rp The Company Current

Perusahaan Kini

(659,521,520)

--

Tangguhan Sub Jumlah

77,660,354 (581,861,166)

---

(12,465,624,060)

(14,379,471,300)

(1,610,915,058) 38,333,107

(1,010,159,027) (99,859,187)

Deferred Resulted from Temporary Differences Resulted from Tax Rate Change

(14,038,206,011)

(15,489,489,514)

Sub Total

(14,620,067,177)

(15,489,489,514)

Perusahaan Anak Kini Tangguhan Berasal dari Perbedaan Temporer Berasal dari Perubahan Tarif Pajak Sub Jumlah Jumlah Beban Pajak Penghasilan

Rekonsiliasi antara laba sebelum pajak penghasilan sebagaimana disajikan dalam laporan laba rugi konsolidasian dengan taksiran laba (rugi) fiskal Perusahaan untuk tahun-tahun yang berakhir pada 31 Desember 2009 dan 2008 adalah sebagai berikut:

Laba Sebelum Pajak Penghasilan Sesuai Laporan Laba Rugi Konsolidasian

Deferred Sub Total Subsidiaries Current

Total Income Tax Expense

A reconciliation between income before income tax, as presented in the consolidated statements of income, and the Company’s estimated taxable income (fiscal loss) for the years ended December 31, 2009 and 2008, is as follows:

2009

2008

Rp

Rp Income before Income Tax as Presented in Consolidated Statement of Income

52,443,120,084

52,975,135,311

(50,462,312,697)

(45,212,952,832)

1,980,807,387

7,762,182,479

268,083,055 107,543,314

5,625,000 623,443,741

Permanent Differences Representation and Donations Tax Penalty

(999,192) 374,627,177

(674,800) 628,393,941

Interest on Current Accounts Total

Taksiran Laba Kena Pajak Perusahaan

2,355,434,564

8,390,576,420

The Company's Estimated Taxable Income

Kompensasi Rugi Tahun 2003

(480,833,454)

(8,871,409,874)

Loss Compensation of Years 2003

(639,943,562) (2,077,724,149)

(639,943,562) (2,077,724,149)

2005 2006

3,198,501,165

2,717,667,711

Tax Losses Compensation Adjustment

2,355,434,000

(480,833,454)

659,521,520

--

(457,657,614)

--

Estimated Current Income Tax Expense Less: Prepaid Income Taxes - Article 25

201,863,906

--

Estimated Under Payment of Income Tax

Dikurangi: Bagian Laba dari Perusahaan Anak - Bersih Laba Perusahaan Sebelum Taksiran Pajak Penghasilan Beda Tetap Representasi dan Sumbangan Denda Pajak Penghasilan Jasa Giro Jumlah

2005 2006 Penyesuaian Kompensasi Rugi Fiskal Taksiran Laba Kena Pajak (Akumulasi Rugi Fiskal) - Dibulatkan Taksiran Beban Pajak Kini Dikurangi: Pajak Penghasilan Dibayar di Muka - Pasal 25 Taksiran Pajak Penghasilan Kurang Bayar

D2/April 16, 2010

Less: Equity Portion of Subsidiaries Net Income - Net The Company's Profit Before Estimated Income Tax

Estimated Taxable Income (Accumulated

24

Tax Losses) - Rounded

paraf :

PT TIGA PILAR SEJAHTERA FOOD Tbk DAN PERUSAHAAN ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2009 dan 2008 (Dalam Rupiah Penuh) Rekonsiliasi antara beban pajak penghasilan yang dihitung dengan tarif pajak yang berlaku dan beban pajak penghasilan sesuai laporan laba rugi konsolidasian untuk tahun-tahun yang berakhir pada tanggal 31 Desember 2009 dan 2008 adalah sebagai berikut:

Laba Sebelum Pajak Penghasilan Sesuai Laporan Laba Rugi Konsolidasian

PT TIGA PILAR SEJAHTERA FOOD Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2009 and 2008 (In Full Rupiah) A reconciliation between income tax expense calculated with applicable income tax rate and income tax expense as presented in the consolidated statements of income for the years ended December 31, 2009 and 2008 is as follows:

2009

2008

Rp

Rp Income before Income Tax as Presented in Consolidated Statements of Income

52,443,120,084

52,975,135,311

(50,462,312,697)

(45,212,952,832)

1,980,807,387

7,762,182,479

(554,625,911) -(75,063,255)

(2,328,654,743) 2,517,172,925 (1,687,500)

Income Tax at Applicable Rate Uncompensated Tax Loss Representation and Donations

(30,112,128) 279,774

(187,033,122) 202,440

Tax Penalty Interest on Current Accounts

77,660,354 (581,861,166)

---

Recovered Deferred Tax Asset Total Tax Expense of the Company

Jumlah Beban Pajak Perusahaan Anak

(14,038,206,011)

(15,489,489,514)

Income Tax Expense of Subsidiaries

Beban Pajak Penghasilan Konsolidasian

(14,620,067,177)

(15,489,489,514)

Consolidated Income Tax Expenses

Dikurangi: Bagian Laba dari Perusahaan Anak - Bersih Laba Perusahaan Sebelum Taksiran Pajak Penghasilan Pajak Penghasilan dengan Tarif yang Berlaku Rugi Fiskal yang Tidak Dapat Dikompensasi Representasi dan Sumbangan Denda Pajak Penghasilan Jasa Giro Pemulihan Aset Pajak Tangguhan Jumlah Beban Pajak Perusahaan

9.

Uang Muka Pembelian

Income Tax

9. Purchase Advances

Akun ini merupakan uang muka pembelian bahan baku PT Tiga Pilar Sejahtera, PT Poly Meditra Indonesia dan PT Bumiraya Investindo, seluruhnya perusahaan anak, kepada pemasok atas pembelian tepung terigu, bibit tanaman dan bahan pembantu lainnya.

D2/April 16, 2010

Less: Equity Portion of Subsidiaries Net Income - Net The Company's Profit Before Estimated

This account represents advance for purchase of inventory of PT Tiga Pilar Sejahtera, PT Poly Meditra Indonesia and PT Bumiraya Investindo, all subsidiaries, to suppliers for purchase of wheat flour, plant seeds and other supporting inventories.

25

paraf :



10. Aset Tetap

10. Property, Plant and Equipments 2009 Saldo Awal/ Beginning

Penambahan/ Addition

Pengurangan/ Deduction

Reklasifikasi/ Reclassification

Rp

Rp

Rp

Balance

Saldo Akhir/ Ending Balance

Rp

Rp Acquisition Cost

Harga Perolehan Kepemilikan Langsung Tanah

Direct Ownership Land

122,775,179,258

--

--

(391,353,758)

122,383,825,500

Bangunan

105,619,681,816

340,947,623

--

779,263,949

106,739,893,388

Buildings

Infrastruktur Mesin

5,880,100,083 311,152,001,326

1,428,877,162 4,820,000,000

---

-47,711,922,648

7,308,977,245 363,683,923,974

Infrastructures Machineries

1,193,298,807

504,803,194

--

--

1,698,102,001

Factory Equipments

3,807,766,792 14,083,930,755

273,721,767 17,500,000

---

-(3,767,520,788)

4,081,488,559 10,333,909,967

Furniture and Fixtures Vehicles

564,511,958,837

7,385,849,746

--

44,332,312,051

616,230,120,634

Peralatan Pabrik Perabot dan Peralatan Kendaraan Jumlah Sewa Pembiayaan Mesin

51,279,049,729

13,581,856,379

--

3,999,000,000

68,859,906,108

--

5,993,631,092

--

3,767,520,788

9,761,151,880

7,335,546,919

2,741,471,990

--

(779,263,949)

9,297,754,960

99,651,951,249 722,778,506,734

5,783,631,569 35,486,440,776

---

(51,710,922,648) (391,353,758)

53,724,660,170 757,873,593,752

Kendaraan Aset Dalam Penyelesaian Bangunan Mesin Jumlah Harga Perolehan

Kepemilikan Langsung Infrastruktur Mesin Peralatan Pabrik Perabot dan Peralatan Kendaraan Jumlah

Jumlah Akumulasi Penyusutan Nilai Tercatat

Sewa Pembiayaan Mesin Aset Dalam Penyelesaian Bangunan Mesin Jumlah Harga Perolehan

D2/April 16, 2010

Buildings Machineries Total Acquisition Cost

Direct Ownership 5,340,850,360

--

--

32,418,674,519

Buildings

987,977,533 123,657,330,324

340,948,445 42,141,115,857

---

-50,549,365

1,328,925,978 165,848,995,546

Infrastructures Machineries

866,689,860 2,093,747,743

133,383,770 377,710,691

---

---

1,000,073,630 2,471,458,434

Factory Equipments Furniture and Fixtures

7,883,050,745

884,699,344

--

(454,286,879)

8,313,463,210

Vehicles

162,566,620,364

49,218,708,467

--

(403,737,514)

211,381,591,317

Total

687,499,998 --

930,138,545 682,555,763

---

(50,549,365) 454,286,879

1,567,089,178 1,136,842,642

Machineries Vehicles

163,254,120,362

50,831,402,775

--

--

214,085,523,137

Leasing

559,524,386,372

Saldo Awal/ Beginning Balance Rp Harga Perolehan Kepemilikan Langsung Tanah Bangunan Infrastruktur Mesin Peralatan Pabrik Kendaraan Perabot dan Peralatan Jumlah

Vehicles Construction in Progress

27,077,824,159

Sewa Pembiayaan Mesin Kendaraan

Machineries

Accumulated Depreciation

Akumulasi Penyusutan Bangunan

Total Leasing

543,788,070,615


2008 Pengurangan/ Deduction

Reklasifikasi/ Reclassification

Rp

Rp

Rp

Carrying Value

Saldo Akhir/ Ending Balance Rp

82,775,179,258 103,464,681,813 5,880,100,083 248,258,662,472 1,113,468,808 11,493,192,571 2,538,971,186 455,524,256,191

40,000,000,000 2,155,000,003 -29,595,784,440 79,829,999 2,867,664,184 1,268,795,606 75,967,074,232

-----276,926,000 -276,926,000

---33,297,554,414 ---33,297,554,414

122,775,179,258 105,619,681,816 5,880,100,083 311,152,001,326 1,193,298,807 14,083,930,755 3,807,766,792 564,511,958,837

4,909,507,356

47,145,010,373

--

(775,468,000)

51,279,049,729

47,348,487 70,577,732,175 531,058,844,209

7,288,198,432 61,596,305,488 191,996,588,525

--276,926,000

-(32,522,086,414) --

7,335,546,919 99,651,951,249 722,778,506,734

26

Total Accumulated Depreciation

Acquisition Cost Direct Ownership Land Buildings Infrastructures Machineries Factory Equipments Vehicles Furniture and Fixtures Total Leasing Machineries Construction in Progress Buildings Machineries Total Acquisition Cost

paraf :



2008 Saldo Awal/

Penambahan/

Pengurangan/

Reklasifikasi/

Beginning

Addition

Deduction

Reclassification

Ending

Rp

Balance Rp

Balance Rp

Rp

Rp

Saldo Akhir/

Accumulated Depreciation

Akumulasi Penyusutan Pemilikan Langsung Bangunan Infrastruktur Mesin Peralatan Pabrik Kendaraan Perabot dan Peralatan Jumlah

21,904,590,099

5,173,234,060

--

--

Direct Ownership Buildings

27,077,824,159

693,972,529

294,005,004

--

--

987,977,533

Infrastructures

91,961,479,981 754,653,252

31,413,127,623 112,036,608

---

282,722,720 --

123,657,330,324 866,689,860

Machineries Factory Equipments

7,088,035,589

1,017,132,896

222,117,740

--

7,883,050,745

1,844,060,080 124,246,791,530

249,687,663 38,259,223,854

-222,117,740

-282,722,720

2,093,747,743 162,566,620,364

Furniture and Fixtures Total

218,100,384 124,464,891,914

752,122,334 39,011,346,188

---

(282,722,720) --

687,499,998 163,254,120,362

Machineries Total Accumulated Depreciation

Vehicles

Sewa Pembiayaan Mesin Jumlah Akumulasi Penyusutan Nilai Tercatat

Leasing

406,593,952,295

Carrying Value

559,524,386,372

Beban penyusutan dialokasikan sebagai berikut:

Depreciation charges are allocated as follows: 2009 Rp

2008 Rp

Beban Pokok Penjualan Beban Umum dan Administrasi Beban Penjualan

48,440,444,805 1,893,272,912 497,685,058

37,003,148,817 1,547,456,647 460,740,724

Cost of Goods Sold General and Administrative Expenses Selling Expenses

Jumlah Beban Depresiasi

50,831,402,775

39,011,346,188

Total Depreciation Charge

Rincian penjualan aset tetap adalah sebagai berikut:

Detail on disposal of property, plant and equipments is as follows: 2009

2008

Rp

Rp

Biaya Perolehan Akumulasi Penyusutan

---

276,926,000 (222,117,740)

Acquisition Cost Accumulated Depreciation

Nilai Tercatat Harga Jual

---

54,808,260 100,000,000

Carrying Value Selling Price

Laba Penjualan Aset Tetap

--

45,191,740

Gain on Disposal of Equipments

Tanah Perusahaan dan perusahaan anak terdiri dari:

Land of the Company and subsidiaries consists of the following:  Land with area of approximately 13,370 sqm with Right to Build Title (SHGB) No. 53, registered under the Company name and located in Depok, Cimanggis District – West Java. The SHGB will valid until 2024.

 Tanah seluas kurang lebih 13.370 m2 dengan Sertifikat



Hak Guna Bangunan No. 53, terdaftar atas nama Perusahaan dan berlokasi di Kota Depok, Kecamatan Cimanggis – Jawa Barat. SHGB tersebut akan berlaku sampai dengan tahun 2024. Tanah seluas kurang lebih 287.680 m2 dengan SHGB No. 1-4 dan No. 6-38, seluruhnya terdaftar atas nama PT Tiga Pilar Sejahtera, perusahaan anak dan berlokasi di Desa Sepat, Kecamatan Masaran, Sragen – Jawa Tengah. Masing-masing SHGB akan berlaku sampai tahun 2030 – 2037.

D2/April 16, 2010

 Land with area of approximately 287,680 sqm with

SHGB Nos. 1-4 and Nos. 6-38, all registered under PT Tiga Pilar Sejahtera, a subsidiary, name and located in Sepat Village, Masaran District, Sragen – Central Java. Each SHGB will valid until 2030 – 2037.

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 Tanah seluas kurang lebih 24.295 m2 dengan SHGB

 Land with area of approximately 24,295 sqm with

No. 2001 – 2002, seluruhnya terdaftar atas nama PT Poly Meditra Indonesia, perusahaan anak, dan berlokasi di Kecamatan Jaten, Karanganyar – Jawa Tengah. Masing-masing SHGB akan berlaku sampai tahun 2027. Tanah seluas kurang lebih 56.965 m 2 yang berlokasi di Desa Sepat, Kecamatan Masaran, Sragen – Jawa Tengah, yang sampai dengan tanggal penyelesaian laporan keuangan konsolidasian masih dalam proses sertifikasi.

SHGB Nos. 2001 – 2002, all registered under PT Poly Meditra Indonesia, a subsidiary, name and located in Jaten District, Karanganyar – Central Java. All SHGB will valid until 2027.



 Land with area of approximately 56,965 sqm located in

Sepat Viilage, Masaran District, Sragen – Central Java which up to completion date of these consolidated financial statements is still under certification process.

Manajemen berpendapat tidak akan ada hambatan dalam memperbaharui seluruh sertifikat tanah pada saat habis masa berlakunya.

Managemenf is in opinion that there will be no difficulties in obtaining renewals of land certificates upon expiry date.

Pada tahun 2009, PT Bumiraya Investindo, perusahaan anak, mereklasifikasi nilai Tanah sebesar Rp 391.353.758 menjadi Biaya Hak atas Tanah Ditangguhkan (lihat Catatan 12).

In 2009, PT Bumiraya Investindo, a subsidiary, reclassified Land amounted to Rp 391,353,758 into Deferred Land Rights Cost (see Note 12).

Pada tahun 2009 dan 2008, saldo aset dalam penyelesaian terutama berasal dari proyek pembangunan pembangkit tenaga listrik PT Patra Power Niaga (PPN), perusahaan anak dalam tahap pengembangan, yang terletak di Sragen – Jawa Tengah.

In 2009 and 2008, balance of construction in progress primarily from the construction of electric power plant of PT Patra Power Niaga (PPN), a subsidiary under development process, located in Sragen – Central Java.

Sampai dengan tanggal penyelesaian laporan keuangan konsolidasian, kemajuan proyek pembangunan pembangkit tenaga listrik telah mencapai 57%.

Up to completion date of these consolidated financial statements, progress of electric power plant construction has reached 57%.

Aset tetap Perusahaan dan perusahaan anak, kecuali tanah dan kendaraan, telah diasuransikan terhadap risiko kebakaran, gempa bumi dan risiko lainnya pada PT Asuransi Central Asia dan PT Tripakarta dengan jumlah pertanggungan sebesar Rp 260,6 milyar dan Rp 195,7 milyar masing-masing pada 31 Desember 2009 dan 2008. Manajemen Perusahaan dan perusahaan anak berpendapat bahwa nilai pertanggungan tersebut memadai untuk menutup kemungkinan kerugian atas risiko tersebut.

The Company and subsidaries’ property, plant and equipments, except for land and vehicles, have been insured against fire, earthquake dan other risks to PT Asuransi Central Asia and PT Tripakarta with the sum insured amounted to Rp 260.6 billions and Rp 195.7 billions as of December 31, 2009 and 2008, respectively. Management of the Company and subsidiaries is in opinion that the sum insured were adequate to cover possible losses from such risks.

Mesin dan kendaraan yang diperoleh PT Tiga Pilar Sejahtera (TPS), PT Poly Meditra Indonesia (PMI) dan PPN, seluruhnya perusahaan anak, melalui sewa pembiayaan telah diasuransikan terhadap resiko kehilangan dan kerusakan dengan nilai pertanggungan sebesar fasilitas pembiayaan dan dijadikan jaminan atas masing-masing fasilitas tersebut.

Machinery and equipments and vehicles acquired by PT Tiga Pilar Sejahtera (TPS), PT Poly Meditra Indonesia (PMI) and PPN, all subsidiaries, using leasing fasilities have been insured against lost and damage risk with sum insured amounted to the leasing facilities and are pledged as collateral for each respective leasing facility.

Seluruh tanah, bangunan dan mesin produksi TPS, perusahaan anak, dijadikan jaminan atas pinjaman dan fasilitas perbankan yang diperoleh PT Bank Mandiri (Persero) Tbk dan PT Bank Muamalat Indonesia (lihat Catatan 14.a dan 18.a).

All land, building and machinery and equipments of TPS, a subsidiary, is pledged as collateral for loan and banking facilities obtained from PT Bank Mandiri (Persero) Tbk and PT Bank Muamalat Indonesia (see Notes 14.a dan 18.a).

D2/April 16, 2010

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Seluruh tanah, bangunan dan mesin produksi PMI, perusahaan anak, dijadikan jaminan atas pinjaman yang diperoleh dari PT Bank Mandiri (Persero) Tbk (lihat Catatan 14.a dan 18.a).

All land, building and machinery and equipments of PMI, a subsidiary, is pledged as collateral for loan obtained from PT Bank Mandiri (Persero) Tbk (see Notes 14.a and 18.a).

Mesin dan bangunan yang tidak digunakan dalam produksi dengan nilai tercatat sebesar Rp 9.216.155.903 disajikan dalam akun “Aset Tetap yang Tidak Digunakan” pada aset tidak lancar.

Machineries and building which are not used in production process with a carrying value of Rp 9,216,155,903 are presented under “Unutilized Assets“ as part of non current assets.

Manajemen berpendapat tidak ada indikasi atas perubahanperubahan kondisi yang mengakibatkan penurunan nilai aset tetap pada 31 Desember 2009.

Management is in opinion that there were no indication of changes in circumstances that resulted in impairment of property, plant and equipment as of December 31, 2009.

11. Tanaman Perkebunan

11. Biological Assets 2009

Saldo Awal/ Beginning Balance Rp Biaya Perolehan Kelapa Sawit Akumulasi Penyusutan Kelapa Sawit Nilai Tercatat



Rp

Rp


130,637,330,235

25,032,667,870

--

155,669,998,105

Acquisition Cost Palm Oil Trees

5,761,102,646

3,260,800,284

--

9,021,902,930

Accumulated Depreciation Palm Oil Trees

146,648,095,175

Carrying Value

124,876,227,589

2008 Saldo Awal/ Beginning Balance Rp Biaya Perolehan Kelapa Sawit Akumulasi Penyusutan Kelapa Sawit Nilai Tercatat



Rp

Rp


104,409,945,674

26,227,384,561

--

130,637,330,235

Acquisition Cost Palm Oil Trees

3,653,212,214

2,107,890,432

--

5,761,102,646

Accumulated Depreciation Palm Oil Trees

124,876,227,589

Carrying Value

100,756,733,460

Seluruh tanaman perkebunan milik PT Bumiraya Investindo (BI), perusahaan anak, berlokasi di Kalimantan Selatan.

All biological assets of PT Bumiraya Investindo (BI), a subsidiary, are located in South Borneo.

Beban penyusutan tanaman menghasilkan dibebankan pada biaya produksi.

Depreciation expense from mature plantations are charged to cost of production.

Beban bunga pinjaman yang dikapitalisasi ke tanaman belum menghasilkan adalah sebesar Rp 1.250.035.283 dan Rp 185.867.744 masing-masing per 31 Desember 2009 dan 2008.

Borrowing cost capitalized to immature plantations amounted to Rp 1,250,035,283 and Rp 185,867,744 as of December 31, 2009 and 2008, respectively.

D2/April 16, 2010

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PT TIGA PILAR SEJAHTERA FOOD Tbk DAN PERUSAHAAN ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2009 dan 2008 (Dalam Rupiah Penuh) Rincian mutasi tanaman perkebunan adalah sebagai berikut:

Movement of plantation plants is as follows:

2009

2008 Rp

Rp Tanaman Perkebunan Menghasilkan Saldo Awal


59,454,902,980

42,157,808,715

Reklasifikasi dari Tanaman Perkebunan Belum Menghasilkan

11,443,569,816

23,058,196,911

Akumulasi Penyusutan Saldo Akhir

(9,021,902,930) 61,876,569,866

(5,761,102,646) 59,454,902,980

65,421,324,609 30,793,770,516

62,252,136,958 26,227,384,562

(11,443,569,816)

(23,058,196,911)

84,771,525,309

65,421,324,609

146,648,095,175

124,876,227,589

Tanaman Perkebunan Belum Menghasilkan Saldo Awal Kapitalisasi Biaya Reklasifikasi ke Tanaman Perkebunan Menghasilkan Saldo Akhir Jumlah Tanaman Perkebunan

Rincian tanaman berdasarkan luas area adalah sebagai berikut:

Mature Plantation Beginning Balance Reclassification from Immature Plantation Accumulated Depreciation Ending Balance Immature Plantation Beginning Balance Capitalized Expenditures Reclassification to Mature Plantation Ending Balance Total Biological Assets

Details of plantations based on the area wide are as follows:

2009 (Hektar/Hectares )

2008 (Hektar/Hectares )

Tanaman Perkebunan Menghasilkan

3,100

2,500

Mature Plantation Trees

Tanaman Perkebunan Belum Menghasilkan

2,900

3,500

Immature Plantation Trees

Jumlah Luas Area

6,000

6,000

Total Land Area

Tanaman perkebunan dijadikan jaminan atas pinjaman yang diperoleh BI dari PT Bank Mandiri (Persero) Tbk (lihat Catatan 18.a).

Biological assets are pledged as collateral for loan obtained by BI from PT Bank Mandiri (Persero) Tbk (see Note 18.a).

12. Biaya Hak atas Tanah Ditangguhkan – Bersih

12. Deferred Land Rights Cost – Net

2009 Rp Biaya Hak atas Tanah Ditangguhkan Dikurangi: Akumulasi Amortisasi

2008 Rp

15,120,619,158

1,102,764,500

(19,567,691)

--

15,101,051,467

1,102,764,500

Total Deferred Land Rights

Jumlah Biaya Hak atas Tanah Ditangguhkan - Bersih

PT Bumiraya Investindo (BI), perusahaan anak, telah mendapatkan Sertifikat Hak Guna Usaha (SHGU) seluas No. 30 dan No. 68 – 70, seluruhnya terdaftar atas nama BI, seluas kurang lebih 2.803 hektar dan berlokasi di Kotabaru – Kalimantan Selatan. Masing-masing SHGU akan berlaku sampai tahun 2035 – 2044.

D2/April 16, 2010

Deferred Land Rights Cost Less: Accumulated Amortization Cost - Net

PT Bumiraya Investindo (BI), a subsidiary, has obtained Land Cultivate Rights No. 30 and Nos. 68 – 70, all registered under BI name, with area of approximately 2,803 hectares located in Kotabaru – South Borneo. Each SHGU will valid until 2035 – 2044.

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Manajemen berpendapat tidak akan ada hambatan dalam memperbaharui sertifikat pada saat habis masa berlakunya.

Managemenf is in opinion that there will be no difficulties in obtaining renewals of certificates upon expiry date.

Pada tahun 2009, BI melakukan reklasifikasi Tanah dari Aset Tetap sebesar Rp 391.353.758 menjadi Biaya Hak atas Tanah Ditangguhkan – Bersih (lihat Catatan 10).

In 2009, BI reclassified Land from Property, Plant and Equipment amounted to Rp 391,353,758 to Deferred Land Rights Cost – Net (see Note 10).

Penambahan Biaya Hak atas Tanah Ditangguhkan pada tahun 2009 sebesar Rp 13.626.500.900 terdiri dari biaya pengurusan proses perijinan perluasan lahan perkebunan seluas kurang lebih 7.141 hektar yang berlokasi di Kotabaru – Kalimantan Selatan sebesar Rp 11.850.000.000 dan proses perijinan lahan lama seluas kurang lebih 4.638 hektar sebesar Rp 1.776.500.900.

Addition of Deferred Land Rights Cost in 2009 amounted to Rp 13,626,500,900 consisted of expenditures for certification process of land expansion of approximately 7,141 hectares located in Kotabaru – South Borneo amounted to Rp 11,850,000,000 and certification process of existing land of approximately 4,638 hectares amounted to Rp 1,776,500,900.

13. Uang Muka Jangka Panjang

13. Long-term Advances 2009 Rp

Pengembangan Proyek Perkebunan Pembangunan Pabrik Pengadaan Piranti Lunak Jumlah Uang Muka Jangka Panjang

2008 Rp

173,275,021,071 19,000,000,000

---

Development of Plantation Project Mill Construction

4,523,180,389

3,196,130,263

Software Implementation

196,798,201,460

3,196,130,263

Total Long-term Advances

Uang muka pengembangan proyek perkebunan sebesar Rp 155,4 milyar merupakan uang muka yang dibayarkan PT Bumiraya Investindo (BI), perusahaan anak, kepada PT Mitra Jaya Agro Palm (MJAP) dan PT Tugu Palma Sumatera (TPS), seluruhnya pihak hubungan istimewa, sebesar masing-masing Rp 145,4 milyar dan Rp 10 milyar (lihat Catatan 6).

Advance for development of plantation project amounted to Rp 155.4 billion represents advance paid by PT Bumiraya Investindo (BI), a subsidiary, to PT Mitra Jaya Agro Palm (MJAP) and PT Tugu Palma Sumatera (TPS), all related parties, amounted to Rp 145,4 billion and Rp 10 billion, respectively (see Note 6).

Sehubungan dengan pembayaran uang muka kepada MJAP dan TPS, BI akan diberikan kompensasi berupa dana sejumlah yang diberikan kepada MJAP dan TPS pada saat Perusahaan mengakuisisi MJAP dan TPS di masa mendatang.

In regards to abovementioned advance payment to MJAP and TPS, BI shall receive compensation in form of fund at the same amount granted to MJAP and TPS when the Company acquires MJAP and TPS in the future period.

Uang muka pembangunan pabrik merupakan uang muka dalam rangka pembangunan pabrik pengolahan minyak kelapa sawit milik BI (lihat Catatan 31).

Advance for mill construction represents advance in regards of preparation of palm oil mill factory owned by BI (see Note 31).

Uang muka pengadaan piranti lunak merupakan pembayaran kepada PT IFS Solutions Indonesia untuk pengadaan sistem informasi (lihat Catatan 31).

Advance for procurement of software represents payment to PT IFS Solutions Indonesia for the procurement of information system (see Note 31).

D2/April 16, 2010

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14. Hutang Bank Jangka Pendek

Rupiah a. PT Bank Mandiri (Persero) Tbk b. PT Bank DBS Indonesia c. PT Bank Rabobank International Indonesia

14. Short-term Bank Loans 2009

2008

Rp

Rp

218,832,246,200 ---

-78,526,000,000 64,965,000,000

Rupiah a. PT Bank Mandiri (Persero) Tbk b. PT Bank DBS Indonesia c. PT Bank Rabobank International Indonesia

d. PT ANZ Panin Bank e. PT Bank CIMB Niaga Tbk f. PT Bank Negara Indonesia (Persero) Tbk

----

54,777,796,597 33,608,918,000 19,500,000,000

d. PT ANZ Panin Bank e. PT Bank CIMB Niaga Tbk f. PT Bank Negara Indonesia (Persero) Tbk

g. PT Bank Central Asia Tbk

--

17,998,200,000

g. PT Bank Central Asia Tbk

--

10,945,685,700

g. PT Bank Central Asia Tbk (USD 999,606)

218,832,246,200

280,321,600,297

Total Short-term Bank Loans

US Dollar

US Dollar

g. PT Bank Central Asia Tbk (USD 999,606) Jumlah Hutang Bank Jangka Pendek

a.

a.

PT Bank Mandiri (Persero) Tbk (Bank Mandiri) Berdasarkan Akta Perjanjian Kredit Modal Kerja Nomor KP-CRO/CBC-JPM/111/PK-KMK/2009 No. 15 tanggal 6 Nopember 2009, , Akta Perjanjian Kredit Modal Kerja Fixed Loan Nomor KP-CRO/CBCJPM/112/PK-KMK/2009 No. 16 tanggal 6 Nopember 2009, Akta Perjanjian Pemberian Fasilitas Non Cash Loan Dengan Trust Receipt Nomor KP-CRO/CBCJPM/003/PNCL/2009 No. 17 tanggal 6 Nopember 2009, Akta Perjanjian Pemberian Fasilitas Bank Garansi Nomor KP-CRO/CBC-JPM/002/PGB/2009 No. 18 tanggal 6 Nopember 2009, Akta Perjanjian Jasa Pelayanan Transaksi Treasury Nomor KPCRO/CBC-JPM/003/PFL/2009 No. 19 tanggal 6 Nopember 2009, seluruhnya dibuat di hadapan Sri Ismiyati, S.H., Notaris di Jakarta, PT Tiga Pilar Sejahtera (TPS), perusahaan anak, memperoleh fasilitas perbankan dari Bank Mandiri sebagai berikut:  Fasilitas Kredit Modal Kerja Revolving  Fasilitas Kredit Modal Kerja Fixed Loan  Fasilitas Pinjaman Non Kas, yang terdiri dari: – Letter of Credit / SKBDN dan Trust Receipt – Bank Garansi  Fasilitas Treasury Line  Fasilitas Bills Purchasing Line

PT Bank Mandiri (Persero) Tbk (Bank Mandiri) Based on Deed of Working Capital Agreement Nomor KP-CRO/CBC-JPM/111/PK-KMK/2009 No. 15 dated November 6, 2009, Deed of Fixed Loan Working Capital Agreement Nomor KP-CRO/CBC-JPM/112/PKKMK/2009 No. 16 dated November 6, 2009, Deed of Non Cash Loan with Trust Receipt Facility Agreement Nomor KP-CRO/CBC-JPM/003/PNCL/2009 No. 17 dated November 6, 2009, Deed of Bank Guarantee Facility Agreement Nomor KP-CRO/CBC JPM/002/PGB/2009 No. 18 dated November 6, 2009, Deed of Treasury Transaction Service Agreement Nomor KP-CRO/CBC-JPM/003/PFL/2009 No. 19 dated November 6, 2009, all made in presence of Sri Ismiyati, S.H., Notary in Jakarta, PT Tiga Pilar Sejahtera (TPS), a subsidiary, obtained banking facilities from Bank Mandiri which consisted of the followings:  Revolving Working Capital facility  Fixed Loan Working Capital facility  Non Cash Loan, consists of the followings: – Letter of Credit / SKBDN and Trust Receipt – Bank Guarantee  Treasury Line facility  Bills Purchasing Line facility

Fasilitas Kredit Modal Kerja Revolving dan Kredit Modal Kerja Fixed Loan digunakan oleh TPS untuk menambah modal kerja dan mengambil alih seluruh fasilitas pinjaman yang diberikan kepada TPS dari bank lain.

Revolving Working Capital and Fixed Loan Working Capital are used by TPS to increase working capital and to take over all credit facilities granted for TPS from other banks.

Fasilitas Kredit Modal Kerja Revolving dan Kredit Modal Kerja Fixed Loan masing-masing memiliki pagu kredit sebesar Rp 120 milyar dan 80 milyar, dengan periode fasilitas 1 (satu) tahun dan dikenakan tingkat bunga 12,5% per tahun (floating).

Revolving Working Capital and Fixed Loan Working Capital have credit limit amounted to Rp 120 billion and Rp 80 billion, respectively, with facility period of 1 (one) year and bearing an interest rate of 12.5% per annum (floating).

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Pada tanggal 31 Desember 2009, saldo terhutang atas fasilitas Modal Kerja Revolving dan Modal Kerja Fixed Loan masing-masing sebesar Rp 116.697.266.200 dan Rp 80.000.000.000 dan dikenakan bunga sebesar 12,5% per tahun.

As of December 31, 2009, outstanding balance of Revolving Working Capital and Fixed Loan Working Capital amounted to Rp 116,697,266,200 and Rp 80.000.000.000, respectively and borne an interest rate of 12.5% per annum.

Fasilitas Pinjaman Non Kas – Letter of Credit (L/C) / SKBDN dan Trust Receipt digunakan TPS untuk penerbitan L/C / SKBDN atas pembelian bahan baku, bahan penolong dan suku cadang yang dibutuhkan dalam proses produksi TPS, memiliki pagu kredit sebesar Rp 143 milyar dengan periode pembayaran 180 hari dan tidak dikenakan bunga.

Non Cash Loan – Letter of Credit (L/C) / SKBDN and Trust Receipt facility is used by TPS to issue L/C / SKBDN for purchase of raw material, supporting inventory and spareparts needed in TPS production process, has credit limit amounted to Rp 143 billion with payment period of 180 days and bear no interest.

Fasilitas Pinjaman Non Kas – Bank Garansi digunakan TPS untuk pembayaran L/C Impor / SKBDN yang jatuh tempo, memiliki pagu kredit sebesar Rp 7 milyar dengan periode pembayaran 240 hari dan tidak dikenakan bunga.

Non Cash Loan – Bank Guarantee facility is used by TPS for payment of Import L/C / SKBDN which dues, has credit limit amounted to Rp 7 billion with payment period of 240 days and bears no interest.

Pada tanggal 31 Desember 2009, seluruh saldo terhutang atas fasilitas Pinjaman Non Kas – Letter of Credit / SKBDN, Trust Receipt dan Bank Garansi adalah sebesar Rp 4.873.750.000.

As of December 31, 2009, all outstanding balance of Non Cash Loan – Letter of Credit / SKBDN. Trust Receipt and Bank Guarantee facility amounted to Rp 4,873,750,000.

Fasilitas Treasury Line digunakan oleh TPS untuk melakukan pembelian di masa mendatang (forward buy) dengan periode maksimal pembelian 6 (enam) bulan, memiliki pagu kredit USD 7,000,000, berperiode 1 (satu) tahun dan tidak dikenakan bunga.

Treasury Line facility is used by TPS to make forward buy in a maximum of 6 (six) months period, has credit limit amounted to USD 7,000,000 with facility period of 1 (one) year and bears no interest.

Fasilitas Bill Purchasing Line digunakan oleh TPS untuk mendapatkan pembayaran lebih awal atas penjualan ekspor, memiliki pagu kredit USD 300,000, berperiode 1 (satu) tahun dan tidak dikenakan bunga.

Bill Purchasing Line facility is used by TPS to obtain early payment on export sales, has credit limit amounted to USD 300,000 with facility period of 1 (one) year and bears no interest.

Sebagai tambahan dari fasilitas perbankan di atas, TPS juga memperoleh fasilitas Kredit Investasi dari Bank Mandiri dan disajikan sebagai Hutang Bank Jangka Panjang pada neraca konsolidasian (lihat Catatan 18.a).

In addition to abovementioned facilities, TPS also obtained Investment Credit facility from Bank Mandiri and presented as Long-term Bank Loans in consolidated balance sheets (see Note 18.a).

Jaminan atas fasilitas perbankan tersebut di atas adalah sebagai berikut:  Tanah dengan Sertifikat Hak Guna Bangunan (SHGB) No. 1-4, No. 6-13, No. 19, No. 22, No. 27-28, No. 30-32, No. 36-38, seluruhnya terdaftar atas nama TPS, dan tanah dalam proses sertifikasi, seluruhnya berlokasi di Desa Sepat, Kecamatan Masaran, Sragen – Jawa Tengah,  Seluruh bangunan pabrik dan infrastruktur yang melekat pada tanah tersebut,  Seluruh mesin dan peralatan pendukungnya,  Tanah dengan Sertifikat Hak Milik (SHM) No. 415 dan No. 450, seluruhnya terdaftar atas nama Priyo Hadi Sutanto, Komisaris Utama,

Collaterals for abovementioned banking facilities are as follows:  Land with Building Right Title (SHGB) Nos. 1-4, 6-13, 19, 22, 27-28, 30-32, 36-38, all registered under TPS name, and land under certification process, all located in Sepat Village, Masaran District, Sragen – Central Java,

D2/April 16, 2010

 All factory building and infrastructure attached on abovementioned land,  All machinery and equipments,  Land with Property Right (SHM) Nos. 415 and 450, all registered under Priyo Hadi Sutanto, President Commissioner,

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b.


 Tanah dengan SHGB No. 7, terdaftar atas nama PT Naga Mas Sakti Perkasa, perusahaan anak,  Persediaan dan piutang usaha TPS senilai minimum 120% dari saldo terhutang fasilitas Modal Kerja Revolving,  Corporate Guarantee dari Perusahaan, dan  Jaminan Pribadi dari Stefanus Joko Mogoginta, Direktur Utama.

 Land with SHGB No. 7, registered under PT Naga Mas Sakti Perkasa, a subsidiary,  Inventory and trade receivables of TPS with minimum value of 120% from outstanding balance of Revolving Working Capital facility,  Corporate Guarantee from the Company, and  Personal Guarantee from Stefanus Joko Mogoginta, President Director.

Berdasarkan Akta Perjanjian Kredit Modal Kerja Nomor KP-CR0/CBC-JPM/113/PK-KMK/2009 No. 25 tanggal 6 Nopember 2009 yang dibuat di hadapan Sri Ismiyati, Notaris di Jakarta, PT Poly Meditra Indonesia (PMI), perusahaan anak, memperoleh fasilitas Kredit Modal Kerja dari Bank Mandiri yang digunakan untuk menambah modal kerja PMI.

Based on Deed of Working Capital Agreement Nomor KP-CRO/CBC-JPM/113/PK-KMK/2009 No. 25 dated November 6, 2009, all made in presence of Sri Ismiyati, a notary in Jakarta, PT Poly Meditra Indonesia (PMI), a subsidiary, obtained Working Capital facility from Bank Mandiri which is used to increase PMI working capital.

Fasilitas Kredit Modal Kerja memiliki pagu kredit sebesar Rp 20 milyar dan tingkat bunga yang berlaku sebesar 12,5% (floating) per tahun.

Working Capital facility has credit limit amounted to Rp 20 billion and bearing an interest rate of 12.5% per annum (floating).

Pada tanggal 31 Desember 2009, saldo terhutang atas fasilitas Kredit Modal Kerja sebesar Rp 17.261.230.000 dan dikenakan bunga sebesar 12,5% per tahun.

As of December 31, 2009, outstanding balance of Working Capital facility amounted to Rp 17,261,230,000 and borne an interest rate of 12.5% per annum.

Sebagai tambahan dari Fasilitas Kredit Modal Kerja tersebut di atas, PMI juga memperoleh Fasilitas Kredit Investasi dari Bank Mandiri dan disajikan sebagai Hutang Bank Jangka Panjang pada neraca konsolidasian (lihat Catatan 18.a).

In addition to abovementioned Working Capital Facility, PMI also obtained Investment Credit facility from Bank Mandiri and presented as Long-term Bank Loans in consolidated balance sheets (see Note 18.a).

Jaminan atas fasilitas perbankan tersebut di atas adalah sebagai berikut:  Tanah dengan SHGB No. 2001 dan No. 2002, seluruhnya terdaftar atas nama PMI, berlokasi di Desa Jumok, Kecamatan Jaten, Karanganyar – Jawa Tengah,  Bangunan pabrik dan infrastruktur yang melekat di atas tanah tersebut.  Persediaan dan piutang usaha sebesar minimal 120% dari saldo terhutang atas fasilitas Kredit Modal Kerja.

The collaterals for abovementioned loan facilities were as follows:  Land with SHGB Nos. 2001 and 2002, all registered under PMI name, located in Jumok Village, Jaten District, Karanganyar – Central Java,  Factory building and infrastructure attached on abovementioned land,  Inventory and trade receivables with a minimum value of 120% from outstanding balance of Working Capital facility. b.

PT Bank DBS Indonesia (DBS) Berdasarkan Akta Perjanjian Pinjaman No. 58 tanggal 26 Juni 2008 yang dibuat di hadapan Veronica Nataadmadja, S.H., Notaris di Jakarta, PT Tiga Pilar Sejahtera (TPS), perusahaan anak, memperoleh fasilitas perbankan dari DBS dengan rincian sebagai berikut:  Fasilitas Uncommitted Short Term Credit yang terdiri dari Accounts Payable Financing, Trade Receivables Discounting, Import Letter of Credit, Trust Receipt dan Bank Guarantee,  Fasilitas Uncommitted Revolving Credit

D2/April 16, 2010

PT Bank DBS Indonesia (DBS) Based on Deed of Loan Agreement No. 58 dated June 26, 2008 made in presence of Veronica Nataadmadja, S.H., a notary in Jakarta, PT Tiga Pilar Sejahtera (TPS), a subsidiary, obtained banking facilities from DBS which consisted of the followings:

 Uncommitted Short Term Credit facilities which consist of Accounts Payable Financing, Trade Receivables Discounting, Import Letter of Credit, Trust Receipt, Bank Guarantee  Uncommitted Revolving Credit facility

34

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c.


Seluruh fasilitas Uncommitted Short Term Credit, kecuali Uncommitted Bank Guarantee, memiliki total pagu kredit sebesar Rp 90 milyar dan periode pembayaran 180 hari. Fasilitas Uncommitted Bank Guarantee memiliki pagu kredit sebesar Rp 35 milyar dan memiliki periode pembayaran 360 hari atau jatuh tempo pembayaran, mana yang lebih dahulu.

All Uncommitted Short Term Credit facilities, except for Uncomitted Bank Guarantee, have credit limit amounted to Rp 90 billion and repayment period of 180 days. Uncommitted Bank Guarantee facility has credit limit amounted to Rp 35 billion and repayment period of 360 days or due date of invoice, whichever is earlier.

Fasilitas Uncommitted Revolving Credit memiliki pagu kredit sebesar Rp 30 milyar dengan periode pembayaran 120 hari.

Uncommitted Revolving Credit facility has credit limit amounted to Rp 30 billion and repayment date of 120 days.

Penggunaan fasilitas perbankan dalam mata uang US Dollar dikenakan tingkat bunga sebesar Singapore Interbank Offered Rate (SIBOR) + 2,5% per tahun sedangkan penggunaan dalam mata uang Rupiah dikenakan tingkat bunga sebesar suku bunga SBI + 2% per tahun.

Use of banking facilities denominated in US Dollar borne an interest rate of Singapore Interbank Offered Rate (SIBOR) + 2.5% per annum while use in Rupiah borne an interest rate of SBI + 2% per annum.

Seluruh saldo terhutang atas fasilitas perbankan telah dilunasi TPS pada tanggal 13 Nopember 2009.

All outstanding balance of the banking facilities has been fully paid by TPS on November 13, 2009. c.

PT Bank Rabobank International Indonesia (Rabobank) Berdasarkan Perjanjian Kredit No. LA/CA/1251/2006 tanggal 28 Maret 2006, PT Tiga Pilar Sejahtera (TPS), perusahaan anak, mendapatkan fasilitas perbankan Receivable Financing dari Rabobank yang digunakan untuk membiayai tagihan Perusahaan kepada United Nations for World Food Programme (UNWFP).

PT Bank Rabobank International Indonesia (Rabobank) Based on Facility Agreement No. LA/CA/1251/2006 dated March 28, 2006, PT Tiga Pilar Sejahtera (TPS), a subsidiary, obtained banking facility Receivable Financing from the Rabobank which was used to finance the Company’s receivables to United Nations for World Food Programme (UNWFP).

Fasilitas Receivable Financing memiliki pagu kredit sebesar Rp 45 milyar dengan bunga sebesar Cost of Fund (COF) + 3,5% per tahun (floating). COF adalah besaran biaya pinjaman yang ditentukan oleh Rabobank.

Receivable Financing facility had credit limit amounted to Rp 45 billion and bearing an interest rate of Cost of Fund (COF) + 3.5% per annum (floating). COF represents cost for borrowing determined by the Rabobank.

Berdasarkan Addendum Pertama Perjanjian Kredit No. LA/CA/1332/2006 tanggal 26 Oktober 2006, TPS mendapatkan fasilitas Letter of Credit dengan pagu kredit Rp 25 milyar dan periode maksimum pembayaran 4 (empat) bulan. Saldo terhutang atas fasilitas ini bersama-sama dengan saldo terhutang atas fasilitas Receivable Financing tidak boleh melebihi Rp 45 milyar.

Based on First Amendment on Facility Agreement No. LA/CA/1332/2006 dated October 26, 2006, TPS obtained Letter of Credit facility with credit limit amounted to Rp 25 billion and maximum repayment period of 4 (four) months. The outstanding balance of this facility altogether with Receivable Financing facility should not exceed Rp 45 billion.

Berdasarkan Addendum Kedua Perjanjian Kredit No. LA/CA/1385/2007 tanggal 11 Januari 2007, TPS kembali mendapatkan tambahan fasilitas sehingga seluruh fasilitas perbankan yang diperoleh oleh TPS adalah sebagai berikut:  Fasilitas Receivable Financing  Fasilitas Letter of Credit  Fasilitas Post Import Financing  Fasilitas Bank Garansi  Fasilitas Short Term Advance Financing

Based on Second Amendment on Facility Agreement No. LA/CA/1385/2007 dated January 11, 2007, TPS obtained another additional facilities so that all banking facilities obtained by TPS consisted of the followings:

D2/April 16, 2010

 Receivable Financing facility  Letter of Credit facility  Post Import Financing facility  Bank Guarantee facility  Short Term Advance Financing facility

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d.


Seluruh fasilitas tersebut memiliki tingkat bunga sebesar COF + 3% dan periode pembayaran 4 (empat) bulan.

All abovementioned facilities borne an interest rate of COF + 3% and repayment period of 4 (four) months.

Jaminan atas fasilitas pinjaman tersebut di atas adalah sebagai berikut:  Untuk fasilitas Receivable Financing adalah piutang usaha yang berasal dari UNWFP sebesar pembiayaan oleh Rabobank,  Untuk fasilitas Letter of Credit, penempatan dana sebesar minimum 20% dari saldo terhutang fasilitas terkait,  Untuk fasilitas Bank Garansi, penempatan dana sebesar 10% dari saldo terhutang fasilitas terkait,

The collaterals for abovementioned banking facilities were as follows:  For Receivable Financing facility was trade receivables to UNWFP financed by Rabobank,

 Untuk fasilitas Short Term Advance Financing, penempatan dana sebesar 50% dari saldo terhutang fasilitas terkait,  Persediaan TPS yang dibiayai oleh Rabobank termasuk kewajiban asuransi persediaan,  Surat Kuasa untuk menjual persediaan TPS yang dibiayai Rabobank, dan  Jaminan Pribadi dari Herry Beng Koestanto, Stefanus Joko Mogoginta, Budhi Istanto Suwito, Hengky Koestanto dan Dewi Koestanto.

 For Letter of Credit facility was placement of fund with minimum balance of 20% from the respective facility outstanding balance,  For Bank Guarantee facility was placement of fund with minimum balance of 10% from the respective facility outstanding balance,  For Short Term Advance Finance facility was placement of fund with minimum balance of 50% from the respective facility outstanding balance,  TPS inventory financed by Rabobank, including insurance coverage,  Power of Attorney to sell TPS inventory financed by Rabobank, and  Personal Guarantee from Herry Beng Koestanto, Stefanus Joko Mogoginta, Budhi Istanto Suwito, Hengky Koestanto dan Dewi Koestanto.


All outstanding balance of the banking facilities has been fully paid by TPS on November 12, 2009. d.

PT ANZ Panin Bank (ANZ Panin) Berdasarkan Perjanjian Kredit No. 098681/III/2007 tanggal 15 Maret 2007 yang dilegalisasi oleh Laurensia Siti Nyoman, S.H., Notaris di Jakarta, PT Tiga Pilar Sejahtera, perusahaan anak, memperoleh fasilitas Multi Option dari ANZ Panin dengan rincian sebagai berikut:  Fasilitas Import L/C,  Fasilitas Bank Garansi,  Fasilitas Trust Receipt / Payment Guarantee,  Fasilitas Foreign Currency Dealing Limit,

PT ANZ Panin Bank (ANZ Panin) Based on Loan Agreement No. 098681/III/2007 dated March 15, 2007 which had been legalized by Laurensia Siti Nyoman, S.H., a notary in Jakarta, PT Tiga Pilar Sejahtera, a subsdiary, obtained Multi Option facility from ANZ Panin which consisted of the followings:  Import L/C facility  Bank Garansi facility  Trust Receipt / Payment Guarantee facility  Foreign Currency Dealing Limit facility

Fasilitas Multi Option tersebut digunakan oleh TPS untuk tujuan ekspor impor barang, Bank Garansi dan pemenuhan kebutuhan mata uang asing TPS.

Multi Option facilty was used by TPS for export import of goods, Bank Guarantee and foreign currencies needs of TPS.

Fasilitas Import L/C dan Bank Garansi memiliki pagu kredit sebesar USD 10,000,000 dan periode pembayaran masing-masing 180 hari dan 360 hari. Fasilitas Trust Receipt memiliki pagu kredit sebesar USD 2,658,000 dan periode pembayaran 180 hari. Fasilitas Foreign Currency Dealing Limit memiliki pagu kredit sebesar USD 375,000 dan periode pembayaran 6 (enam) bulan.

Import L/C and Bank Guarantee facilities had credit limit amounted to USD 10,000,000 and repayment period of 180 days and 360 days, respectively. Trust Receipt facility had credit limit amounted to USD 2,658,000 and payment period of 180 days. Foreign Currency Dealing Limit had credit limit amounted to USD 375,000 and payment period of 6 (six) months.

D2/April 16, 2010

36

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e.


Perjanjian tersebut telah diamandemen beberapa kali terakhir berdasarkan Perjanjian Kredit No. 098681/XII/2007 tanggal 24 Desember 2007 yang telah dilegalisasi oleh Teddy Anwar, S.H., Notaris di Jakarta, mengenai tambahan fasilitas yang diberikan oleh ANZ Panin dan kenaikan pagu kredit sehingga fasilitas yang diterima oleh TPS adalah sebagai berikut:  Fasilitas Term Loan  Fasilitas Revolving Loan  Fasilitas Multi Option

The agreement had been amended several times, the latest by Credit Agreement No. 098681/XII/2007 dated December 24, 2007 which had been legalized by Teddy Anwar, S.H., a notary in Jakarta, concerning among others, additional facilities granted by ANZ Panin and increase of credit limit resulted TPS had facilities as follows:

Fasilitas Revolving Loan digunakan untuk modal kerja TPS, memiliki pagu kredit Rp 75 milyar dengan masa pembayaran 12 bulan dan dikenakan bunga Jakarta Interbank Offered Rate + 2,00% per tahun.

Revolving Loan facility were used for TPS working capital, has credit limit amounted to Rp 75 billion with repayment period of 12 months and borne an interest rate of Jakarta Interbank Offered Rate + 2.00% per annum.

Setelah amandemen perjanjian terakhir, fasilitas Import LC dan Bank Garansi memiliki pagu kredit sebesar USD 15,000,000, fasilitas Trust Receipt memiliki pagu kredit sebesar USD 5,000,000 dan fasilitas Foreign Currency Dealing Limit memiliki pagu kredit sebesar USD 500,000.

Subsequent to latest amendment, Import L/C and Bank Guarantee facilities had credit limit amounted to USD 15,000,000, Trust Receipt facility had credit limit amounted to USD 5,000,000 and Foreign Currency Dealing Limit had credit limit amounted to USD 500,000.

Jaminan atas fasilitas pinjaman tersebut di atas adalah sebagai berikut:  Tanah dan Bangunan TPS,  Seluruh mesin dan peralatan TPS,  Seluruh piutang usaha senilai Rp 120 milyar, kecuali piutang usaha kepada United Nations for World Food Programme,  Persediaan TPS senilai Rp 50 milyar, dan  Corporate Guarantee dari Perusahaan.

The collaterals for abovementioned loan facilities were as follows:  All land and building of TPS,  All machinery and equipment of TPS,  All trade receivables amounted to Rp 120 billion, except trade receivables from United Nations for World Food Programme,  Inventories of TPS amounted to Rp 50 billion, and  Corporate Guarantee from the Company

Fasilitas Term Loan disajikan sebagai Hutang Bank Jangka Panjang pada neraca konsolidasian (lihat Catatan 18.c).

Term Loan facility is presented as Long-term Bank Loans in the consolidated balance sheets (see Note 18.c).


All outstanding balance of the banking facilities has been fully paid by TPS on November 25, 2009.

 Term Loan facility  Revolving Loan facility  Multi Option facility

e.

PT Bank CIMB Niaga Tbk (CIMB Niaga) Berdasarkan Akta Perjanjian Kredit No. 39 tanggal 30 Mei 2007 dan Akta Perjanjian Pembukaan Fasilitas Letters of Credit / SKBDN dan Pengakuan Berhutang No. 40 tanggal 30 Mei 2007, keduanya dibuat di hadapan Augustine Esther, S.H., Notaris di Surakarta, PT Tiga Pilar Sejahtera (TPS), perusahaan anak, memperoleh fasilitas perbankan dari CIMB Niaga dengan rincian sebagai berikut:  Fasilitas X-Tra on Demand, dan  Fasilitas Letter of Credit / SKBDN

D2/April 16, 2010

37

PT CIMB Niaga Tbk (CIMB Niaga) Based on Deed of Loan Agreement No. 39 dated May 30, 2007 and Deed of Letter of Credit / SKBDN Opening Facility and Indebtness Agreement No. 40 dated May 30, 2007, all made in presence of Augustine Esther, S.H., a notary in Surakarta, PT Tiga Pilar Sejahtera (TPS), a subsidiary, obtained banking facilities from CIMB Niaga which consisted of the followings:  X-Tra on Demand facility, and  Letter of Credit / SKBDN facility

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f.


Fasilitas X-Tra on Demand digunakan oleh TPS untuk penambahan modal kerja sedangkan fasilitas Letter of Credit (L/C) / SKBDN digunakan TPS untuk penerbitan L/C / SKBDN atas pembelian bahan baku, bahan penolong dan suku cadang yang dibutuhkan dalam proses produksi TPS.

X-Tra on Demand facility were used by TPS to increase working capital while Letter of Credit (L/C) / SKBDN facility were used by TPS to issue L/C / SKBDN for purchase of raw material, supporting inventory and spareparts needed in TPS production process.

Fasilitas X-Tra on Demand memiliki pagu kredit Rp 28 milyar dan dikenakan bunga sebesar 12,47% dan 15% per tahun masing-masing pada tahun 2009 dan 2008.

X-Tra on Demand facility had credit limit amounted to Rp 28 billion and borne interest rate of 12.47% and 15% per annum in 2009 and 2008, respectively.

Fasilitas Letter of Credit / SKBDN memiliki pagu kredit USD 1,500,000 dan Rp 15 milyar dan tidak dikenakan bunga.

Letter of Credit/SKBDN facility had credit limit amounted to USD 1,500,000 and Rp 15 billion and bear no interest.

Jaminan atas fasilitas pinjaman tersebut di atas adalah sebagai berikut:  Tanah dengan Sertifikat Hak Guna Bangunan (SHGB) No. 27 – 28, No. 30 – 32, 36 – 38, seluruhnya terdaftar atas nama TPS dan berlokasi di Desa Sepat, Kecamatan Masaran, Sragen – Jawa Tengah,  Piutang usaha sebesar Rp 28 milyar,  Jaminan Individu dari Budhi Istanto Suwito, Komisaris, dan  Deposito berjangka dengan nilai nominal Rp 5 milyar atas nama TPS.

The collaterals for abovementioned loan facilities were as follows:  Land with Building Right Title (SHGB) Nos. 27 – 28, 30 – 32, 36 – 38, all registered under TPS name and located in Sepat Village, Masaran District, Sragen – Central Java,

Seluruh saldo terhutang atas fasilitas perbankan telah dilunasi TPS pada tanggal 23 Desember 2009.

All outstanding balance of the banking facilities has been fully paid by TPS on December 23, 2009.

 Trade receivables amounted to Rp 28 billion,  Personal Guarantee from Budhi Istanto Suwito, Commissioner, and  Time deposit amounted to Rp 5 billion of TPS.

f.

PT Bank Negara Indonesia (Persero) Tbk (BNI) Berdasarkan Perjanjian Kredit No. 2006.040 tanggal 1 September 2006, PT Poly Meditra Indonesia (PMI), perusahaan anak, memperoleh fasilitas pinjaman Rekening Koran Terbatas dari BNI.

PT Bank Negara Indonesia (Persero) Tbk (BNI) Based on Credit Agreement No. 2006.040 dated September 1, 2006, PT Poly Meditra Indonesia (PMI), a subsidiary, had obtained Limited Current Account facility from BNI.

Fasilitas Rekening Koran Terbatas digunakan PMI untuk meningkatkan modal kerja dalam industri pengolahan makanan.

Limited Current Account facility was used to increase PMI working capital in food processing industry.

Fasilitas Rekening Koran Terbatas memiliki pagu kredit sebesar Rp 21,5 milyar dengan waktu pembayaran selama 12 bulan dan dikenakan bunga sebesar 13,75% dan 14,5% masing-masing pada tahun 2009 dan 2008.

Limited Current Account facility had credit limit amounted to Rp 21.5 billion with payment period of 12 months and interest rate of 13.75% and 14.5% in 2009 and 2008, respectively.

Jaminan atas fasilitas pinjaman tersebut di atas adalah sebagai berikut:  Tanah dengan Sertifikat Hak Guna Bangunan (SHGB) No. 2001 – 2002, seluruhnya terdaftar atas nama PMI,  Tanah dengan Sertifikat Hak Milik (SHM) No. 2364 terdaftar atas nama Priyo Hadi Susanto, Komisaris Utama,

The collaterals for abovementioned loan facilities were as follows:  Land, with Building Right Title (SHGB) No. 2001 – 2002, all registered under PMI name,

D2/April 16, 2010

 Land with Ownership Title (SHM) No. 2364, registered under Priyo Hadi Sutanto, President Commissioner,

38

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g.


 Tanah dengan SHGB No. 1806 dan No. 188, seluruhnya terdaftar atas nama Budhi Istanto Suwito, Komisaris,  Seluruh mesin dan peralatan milik PMI,  Seluruh persediaan milik PMI,  Corporate Guarantee dari Perusahaan dan PT Permata Handrawina Sakti, pemegang saham, dan  Jaminan Pribadi dari Budhi Istanto Suwito, Komisaris.

 Land with SHGB No. 1806 and No. 188, all registered under Budhi Istanto Suwito, Commissioner,  All machinery and equipments of PMI,  All inventories of PMI,  Corporate Guarantee from the Company and PT Permata Handrawina Sakti, a stockholder, and  Personal Guarantee from Budhi Istanto Suwito, Commissioner.

Seluruh saldo terhutang atas fasilitas perbankan telah dilunasi PMI pada tanggal 2 Desember 2009.

All outstanding balance of the banking facilities has been fully paid by PMI on December 2, 2009. g.

PT Bank Central Asia Tbk (BCA) Berdasarkan Perjanjian Kredit No. 0550/15/SLO/XII/2004 tanggal 17 Desember 2004 yang telah dilegalisasi oleh Lia Fanty Santosa, S.H., Notaris di Surakarta, PT Tiga Pilar Sejahtera, perusahaan anak, memperoleh fasilitas pinjaman dari BCA berupa Omnibus Letter of Credit yang digunakan untuk modal kerja TPS dengan pagu kredit sebesar Rp 18 milyar dan USD 1,000,000 dan dikenakan bunga sebesar 12,5% dan 12,25% – 16,5% per tahun untuk Rupiah dan 8% dan 9,5% per tahun untuk US Dollar, masing-masing pada tahun 2009 dan 2008.

PT Bank Central Asia Tbk (BCA) Based on Credit Agreement No. 0550/15/SLO/XII/2004 dated December 17, 2004 and had been legalized by Lia Fanty Santosa, S.H., a notary in Surakarta, PT Tiga Pilar Sejahtera, a subsidiary, had obtained loan facility from BCA of Omnibus Letter of Credit which was used to increase TPS working capital with credit limit amounted to Rp 18 billion and USD 1,000,000 and borne an interest rate of 12.5% and 12.25% – 16.5% per annum for Rupiah and 8% and 9.5% per annum for US Dollar in 2009 and 2008, respectively.

Jaminan atas fasilitas pinjaman tersebut di atas adalah sebagai berikut:  Persediaan barang tepung terigu TPS,  Tanah dengan SHM No. 991, terdaftar atas nama Stefanus Joko Mogoginta, Direktur Utama, No. 1362 – 1363, seluruhnya terdaftar atas nama Budhi Istanto Suwito, Komisaris, No. 1309, terdaftar atas nama Hendro Darmawan, No. 1310, terdaftar atas nama Hengky Koestanto, Wakil Direktur dan No. 1361, terdaftar atas nama Iie Dewi Koestanto,  Tanah dengan Sertifikat Hak Milik No. 450 – 451, seluruhnya terdaftar atas nama Priyo Hadi Sutanto, Komisaris Utama,  Tanah dengan Sertifikat Hak Guna Bangunan No. 7 terdaftar atas nama PT Naga Mas Sakti Perkasa, perusahaan anak,  Penempatan dana sebesar minimum 40% dari saldo L/C yang akan diterbitkan, dan  Corporate Guarantee yang dilakukan oleh PT Asuransi Ekspor Indonesia sebesar 80% dari saldo L/C yang diterbitkan oleh TPS.

The collaterals for abovementioned loan facilities were as follows:  All wheat flour inventory of TPS,  Land with SHM No. 991 registered under Stefanus Joko Mogoginta, President Director, No, 1362 – 1363, all registered under Budhi Istanto Suwito, Commissioner, No. 1309, registered under Hendro Darmawan, No. 1310, registered under Hengky Koestanto, Vice Director, and No. 1361, registered under Iie Dewi Koestanto,

Seluruh saldo terhutang atas fasilitas perbankan telah dilunasi TPS pada tanggal 2 Desember 2009.

All outstanding balance of banking facilities has been fully paid by TPS on December 2, 2009.

D2/April 16, 2010

 Land with SHM No. 450-451, all registered under Priyo Hadi Sutanto, President Commissioner,  Land with SHGB No. 7 registered under PT Naga Mas Sakti Perkasa, a subsidiary, name,  Placement of fund with minimum balance of 40% from L/C that would be issued, and  Corporate Guarantee from PT Asuransi Ekspor Indonesia with minimum balance of 80% from L/C balance that would be issued by TPS.

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15. Hutang Usaha – Pihak Ketiga

15. Trade Payables – Third Parties 2009 Rp

2008 Rp

PT Sriboga Raturaya PT Satriagraha Sempurna

10,321,786,978 1,363,726,753

4,503,500,000 --

PT Sriboga Raturaya PT Satriagraha Sempurna

CV Singa Mas Raja Niaga PT Pupuk Hikay

1,020,197,542 898,452,000

838,499,760 --

CV Singa Mas Raja Niaga PT Pupuk Hikay

CV Abadi Jaya Plastik CV Super Nova PT Karunia Selaras Abadi

959,699,984 786,997,200 691,856,310

2,515,059,289 889,141,837 --

CV Abadi Jaya Plastik CV Super Nova PT Karunia Selaras Abadi

558,694,840 548,972,404 5,913,950,312

--9,486,945,689

PT Sumber Inti Pangan PT Surya Kemasindo Sejati Others (each below Rp 500 million)

23,064,334,322

18,233,146,575

PT Sumber Inti Pangan PT Surya Kemasindo Sejati Lain-lain (masing-masing dibawah Rp 500 juta) Jumlah Hutang Usaha

Rincian umur hutang usaha dihitung sejak tanggal faktur adalah sebagai berikut:

Sampai dengan 1 bulan

A detail of accounts payable outstanding since invoice date is as follows:

2009

2008

Rp

Rp

12,976,042,015

> 1 bulan - 2 bulan > 2 bulan - 3 bulan

6,141,286,207 237,300,405

> 3 bulan - 4 bulan > 4 bulan

413,567,138 3,296,138,557

Jumlah Hutang Usaha

23,064,334,322

Rincian hutang usaha berdasarkan mata uang adalah sebagai berikut:

Rupiah US Dollar Singapore Dollar Euro Jumlah Hutang Usaha

Total Trade Payables

9,575,948,713 4,132,103,949 2,113,946,018 1,397,923,519 1,013,224,376 18,233,146,575

Up to 1 month > 1 month - 2 months > 2 months - 3 months > 3 months - 4 months > 4 months Total Trade Payables

Detail of trade payables based on currency used is as follows:

2009

2008

Rp

Rp

21,665,378,542

17,628,005,447

Rupiah

1,299,565,980 70,208,200

605,141,129 --

US Dollar Singapore Dollar

29,181,600

--

Euro

23,064,334,322

18,233,146,575

Total Trade Payables

16. Beban Masih Harus Dibayar

16. Accrued Expenses 2009 Rp

2008 Rp

Bunga

2,497,009,137

4,175,019,287

Interest

Gaji dan Kesejahteraan Karyawan Utilitas

2,003,617,574 480,799,455

1,079,758,265 428,052,403

Salary and Allowances Utilities

Lain-lain (masing-masing dibawah Rp 100 juta)

1,564,305,507

1,222,557,385

Others (each below Rp 100 million)

Jumlah Beban Masih Harus Dibayar

6,545,731,673

6,905,387,340

Total Accrued Expenses

D2/April 16, 2010

40

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17. Hutang Sewa Pembiayaan

17. Obligation under Finance Leases

PT Tiga Pilar Sejahtera (TPS), PT Poly Meditra Indonesia (PMI) dan PT Patra Power Niaga (PPN), seluruhnya perusahaan anak, memperoleh beberapa fasilitas sewa pembiayaan untuk pengadaan mesin pabrik dan kendaraan operasional dari beberapa perusahaan pembiayaan sebagai berikut:

a. PT Austindo Nusantara Jaya Finance b. PT BCA Finance

2009

2008

Rp

Rp

51,989,164,000 5,804,054,800

50,374,738,000 1,728,141,733

a. PT Austindo Nusantara Jaya Finance b. PT BCA Finance

--

799,621,723

c. PT BRI Finance

57,793,218,800

52,902,501,456

Total Obligation under Finance Leases

c. PT BRI Finance Jumlah Hutang Sewa Pembiayaan

PT Tiga Pilar Sejahtera (TPS), PT Poly Meditra Indonesia (PMI) PT Patra Power Niaga (PPN), all subsidiaries, have obtained several leasing facilities for acquisition of machinery and vehicles from certain financing companies as follow:

Pembayaran sewa minimum masa datang berdasarkan masing-masing perjanjian sewa pembiayaan per 31 Desember 2009 dan 2008 adalah sebagai berikut:

The future minimum lease payments based on each respective lease agreements as of December 31, 2009 and 2008 are as follows:

2009

2008

Rp

Rp

2009 2010

-17,266,231,200

20,583,737,102 19,977,510,177

2009 2010

2011 2012 2013

17,053,540,800 15,840,575,400 8,717,225,200

15,828,705,402 8,165,660,477 6,115,429,734

2011 2012 2013

Jumlah Dikurangi: Bagian Bunga

58,877,572,600 (1,084,353,800)

70,671,042,892 (17,768,541,436)

Total Less: Interest Portion

Hutang Sewa Pembiayaan - Bersih

57,793,218,800

52,902,501,456

Obligation under Finance Leases - Net

Hutang Sewa Pembiayaan - Jatuh Tempo Dalam Satu Tahun

16,654,061,913

16,739,227,498

Obligation under Finance Leases Current Maturities

41,139,156,887

36,163,273,958

Obligation under Finance Leases -

Hutang Sewa Pembiayaan - Setelah Dikurangi Jatuh Tempo Dalam Satu Tahun

a.

a.

PT Austindo Nusantara Jaya Finance (ANJ) Berdasarkan Master Lease Agreement tanggal 24 Desember 2007 yang telah dilegalisasi oleh Teddy Anwar, S.H., Notaris di Jakarta dan Offer to Lease and Acceptance tanggal 8 Januari 2008, TPS mendapatkan fasilitas sewa pembiayaan untuk pembelian mesin pabrik pengolahan mie kering senilai Rp 26.549.000.000 dengan periode 66 bulan sampai dengan tanggal 15 Juli 2013. Pembiayaan ini dikenakan bunga sebesar Jakarta Interbank Offered Rate (JIBOR) + 3% per tahun.

D2/April 16, 2010

41

Net of Current Maturities

PT Austindo Nusantara Jaya Finance (ANJ) Based on Master Lease Agreement dated December 24, 2007 and legalized by Teddy Anwar, S.H., a notary in Jakarta and Offer to Lease and Acceptance dated January 8, 2008, TPS, obtained leasing facility for acquisition of machinery for dry noodle processing amounted to Rp 26,549,000,000 with payment period of 66 months until July 15, 2013. The facility is bearing an interest rate of Jakarta Interbank Offered Rate (JIBOR) + 3% per annum.

paraf :



Berdasarkan Master Lease Agreement tanggal 28 September 2007 dan Offer to Lease and Acceptance tanggal 28 September 2007, PT Patra Power Niaga (PPN), perusahaan anak dalam tahap pengembangan, memperoleh fasilitas sewa pembiayaan senilai USD 4,264,640 dengan periode pembayaran 66 bulan. Pembiayaan ini dikenakan bunga sebesar JIBOR + 3% per tahun. b.

Based on Master Lease Agreement dated September 28, 2007 and Offer to Lease and Acceptance dated September 28, 2007, PT Patra Power Niaga (PPN), a subsidiary under development stage, obtained leasing facility amounted to USD 4,264,640 with payment period of 66 months. The facility is bearing an interest of JIBOR + 3% per annum. b.

PT BCA Finance (BCA) PT Tiga Pilar Sejahtera (TPS), perusahaan anak, memperoleh beberapa fasilitas sewa pembiayaan dari BCA sejak tahun 2007 sampai 2009 untuk pembelian kendaraan bermotor yang digunakan untuk mendukung kegiatan operasional TPS. Nilai total fasilitas sewa pembiayaan sampai tahun 2009 sebesar Rp 9.310.930.789 dengan masa terakhir pembayaran berkisar antara tahun 2011 – 2013 dan dikenakan bunga efektif sebesar 10,46% – 17,20% per tahun.

c.

PT BCA Finance (BCA) PT Tiga Pilar Sejahtera (TPS), a subsidiary, obtained several leasing facilities granted by BCA from 2007 to 2009 for purchase of vehicles that is being used to support TPS operational activity. Total lease facilities up to 2009 amounted to Rp 9,310,930,789 with latest payment periods ranging from 2011 – 2013 and effective interest rates ranging from 10.46% – 17.20% per annum.

c.

PT BRI Finance (BRI) PT Poly Meditra Indonesia (PMI), perusahaan anak, memperoleh fasilitas sewa pembiayaan dari BRI pada tahun 2006 untuk pembelian mesin pabrik pengolahan biskuit senilai Rp 2.502.525.000 dengan periode pembayaran 36 bulan dan dikenakan bunga efektif sebesar 20,3% per tahun. Pada tahun 2009, fasilitas ini telah dilunasi oleh PMI.

PT BRI Finance PT Poly Meditra Indonesia (PMI), a subsidiary, obtained leasing facilities from BRI in 2006 for purchase of biscuit processing machineries amounted to Rp 2,502,525,000 with payment period of 36 months and effective interest rate of 20.3% per annum. In 2009, the facility has been fully paid by PMI.

18. Hutang Bank Jangka Panjang

18. Long-term Bank Loans 2009 Rp

2008 Rp

Rupiah a. PT Bank Mandiri (Persero) Tbk b. PT Bank Muamalat Indonesia c. PT ANZ Panin Bank US Dollar c. PT ANZ Panin Bank Jumlah Hutang Bank Jangka Panjang

Rupiah 438,768,549,700 99,870,000,000 --

46,278,253,385 -132,833,333,341

-538,638,549,700

45,039,999,996 224,151,586,722

Dikurangi: Jatuh Tempo dalam Satu Tahun

a. PT Bank Mandiri (Persero) Tbk b. PT Bank Muamalat Indonesia c. PT ANZ Panin Bank US Dollar c. PT ANZ Panin Bank Total Long-term Bank Loans Less: Current Maturities

Rupiah a. PT Bank Mandiri (Persero) Tbk b. PT Bank Muamalat Indonesia c. PT ANZ Panin Bank

26,000,000,000 19,781,528,940 --

--9,999,999,996

Rupiah a. PT Bank Mandiri (Persero) Tbk b. PT Bank Muamalat Indonesia c. PT ANZ Panin Bank

Jumlah Jatuh Tempo dalam Satu Tahun

45,781,528,940

9,999,999,996

Total Current Maturities

492,857,020,760

214,151,586,726

Hutang Bank Jangka Panjang - Setelah Dikurangi Jatuh Tempo dalam Satu Tahun

D2/April 16, 2010

42

Long-term Bank Loans Net of Current Maturities

paraf :

PT TIGA PILAR SEJAHTERA FOOD Tbk DAN PERUSAHAAN ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2009 dan 2008 (Dalam Rupiah Penuh) a.

PT TIGA PILAR SEJAHTERA FOOD Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2009 and 2008 (In Full Rupiah) a.

PT Bank Mandiri (Persero) Tbk (Bank Mandiri) Berdasarkan Akta Perjanjian Kredit Investasi Nomor KP-CRO/CBC-JPM/014/PK-KI/2009 No. 14 tanggal 6 Nopember 2009 yang dibuat di hadapan Sri Ismiyati, Notaris di Jakarta, PT Tiga Pilar Sejahtera (TPS), perusahaan anak, memperoleh fasilitas Kredit Investasi yang digunakan oleh TPS untuk pembiayaan kembali kompleks pabrik TPS yang berlokasi di Desa Sepat, Kecamatan Masaran, Sragen – Jawa Tengah dan mengambil alih seluruh fasilitas pinjaman yang diberikan kepada TPS dari bank lain.

PT Bank Mandiri (Persero) Tbk (Bank Mandiri) Based on Deed of Investment Credit Agreement Nomor KP-CRO/CBC-JPM/014/PK-KI/2009 No. 14 dated November 6, 2009 made in presence of Sri Ismiyati, a notary in Jakarta, PT Tiga Pilar Sejahtera (TPS), a subsidiary, has obtained Investment Credit facility which is used by TPS for refinancing of existing TPS’ factory complex located in Sepat Village, Masaran District, Sragen – Central Java and to take over all credit facilities granted for TPS from other banks.

Fasilitas Kredit Investasi memiliki pagu kredit sebesar Rp 280 milyar dengan periode pinjaman 6 (enam) tahun 3 (tiga) bulan dan dikenakan tingkat bunga 12,5% per tahun (floating).

Investment Credity facility has credit limit amounted to Rp 280 billion with loan period of 6 (six) years and 3 (three) months and bears an interest rate of 12.5% per annum (floating).

Pada 31 Desember 2009, saldo terhutang atas fasilitas ini adalah sebesar Rp 278.000.000.000 dan dikenakan bunga 12,5% per tahun.

As of December 31, 2009, outstanding balance of this loan facility amounted to Rp 278,000,000,000 and borne an interest rate of 12.5% per annum.

Sebagai tambahan dari fasilitas Kredit Investasi, TPS juga memperoleh fasilitas perbankan lain dan disajikan sebagai Hutang Bank Jangka Pendek pada neraca konsolidasian (lihat Catatan 14.a).

In addition to Investment Credit facility, TPS also obtained other banking facilities and presented as Short-term Bank Loans in consolidated balance sheets (see Note 14.a).

Jaminan atas fasilitas Kredit Investasi yang diperoleh TPS dari Bank Mandiri sama dengan jaminan atas fasilitas perbankan lain yang diberikan Bank Mandiri kepada TPS (lihat Catatan 14.a).

Collaterals for Investment Credit facility obtained by TPS from Bank Mandiri is same with collaterals for other banking facilities granted by Bank Mandiri to TPS (see Note 14.a)

Selama periode fasilitas perbankan berlaku, TPS tidak diperbolehkan melakukan hal-hal sebagai berikut:  Memperoleh fasilitas kredit atau pinjaman dari bank lain dengan tujuan penggunaan yang sama dengan fasilitas kredit dari Bank Mandiri,  Membuat perjanjian hutang, hak tanggungan, kewajiban lain atau menjaminkan, dalam bentuk apapun, atas aset TPS, termasuk hak atas tagihan kepada pihak lain, baik yang sudah ada ataupun yang akan ada di kemudian hari,  Mengadakan merger, akuisisi, atau menjual aset yang dijadikan jaminan, mengadakan atau mengubah struktur permodalan TPS, susunan direksi serta komposisi kepemilikan saham,  Memindah-tangankan barang jaminan atau mengikatkan diri sebagai penjamin hutang atau menjaminkan aset TPS kepada pihak lain,  Membagikan dividen lebih dari 50% dari laba tahun berjalan tanpa memperoleh persetujuan dari Bank Mandiri,  Membuat surat perikatan, perjanjian atau dokumen lain yang akan bertentangan dengan Perjanjian Kredit.

During the banking facilities period, TPS may not performs the followings:  Obtained credit facility or loan from other banks with similar purpose with Bank Mandiri credit facility,  Entered into debt agreement, pledging, other liabilities or pledge, in any form, over TPS assets, including right of receivables from third party, existing or will be exist in the future,

D2/April 16, 2010

 Merger, acquisition, or sells assets being pledged as collateral, changes or amends TPS capital structure, board of directors and stockholders’ share composition,  Transfers assets pledged as collateral or entered into guarantor agreement or pledge TPS assets to other party,  Distribute dividend of more than 50% from current year income without obtaining approval from Bank Mandiri,  Entered into agreement, contract, or other form of documents which will contradicts the Credit Agreement.

43

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Berdasarkan Akta Perjanjian Kredit Investasi Nomor KP-CRO/CBC-JPM/015/PK-KI/2009 No. 24 tanggal 6 Nopember 2009 yang dibuat di hadapan Sri Ismiyati, Notaris di Jakarta, PT Poly Meditra Indonesia (PMI), perusahaan anak, memperoleh fasilitas Kredit Investasi dari Bank Mandiri yang digunakan oleh PMI untuk pembiayaan kembali aset tersedia dan aset dalam penyelesaian.

Based on Deed of Investment Credit Agreement Nomor KP-CRO/CBC-JPM/015/PK-KI/2009 No. 24 dated November 6, 2009 made in presence of Sri Ismiyati, a notary in Jakarta, PT Poly Meditra Indonesia (PMI), a subsidiary, obtained Investment Credit facility from Bank Mandiri which is used by PMI for refinancing of PMI’s existing asset and construction in progress.

Fasilitas Kredit Investasi memiliki pagu kredit sebesar Rp 100 milyar, periode pembayaran selama 6 (enam) tahun 3 (tiga) bulan dan dikenakan tingkat bunga sebesar 12,5% (floating) per tahun.

Investment Credit facility has credit limit amounted to Rp 100 billion, payment period of 6 (six) years and 3 (three) months and bears an interest rate of 12.5% (floating) per annum.

Pada 31 Desember 2009, saldo terhutang atas fasilitas Kredit Investasi milik PMI sebesar Rp 98.500.000.000 dan dikenakan bunga 12,5% per tahun.

As of December 31, 2009, outstanding balance of PMI’s Investment Credit facility amounted to Rp 98,500,000,000 and borne an interest rate of 12.5% per annum.

Sebagai tambahan dari fasilitas Kredit Investasi, PMI juga memperoleh fasilitas Kredit Modal Kerja dari Bank Mandiri dan disajikan sebagai Hutang Bank Jangka Pendek pada neraca konsolidasian (lihat Catatan 14.a).

In addition to Investment Credit facility, PMI also obtained Working Capital facility from Bank Mandiri and presented as Short-term Bank Loans in consolidated balance sheets (see Note 14.a).

Jaminan atas fasilitas Kredit Investasi yang diperoleh PMI dari Bank Mandiri sama dengan jaminan atas fasilitas Kredit Modal Kerja yang diberikan Bank Mandiri kepada PMI (lihat Catatan 14.a).

Collaterals for Investment Credit facility obtained by PMI from Bank Mandiri is same with collaterals for Working Capital facility granted by Bank Mandiri to PMI (see Note 14.a)

Selama periode fasilitas perbankan berlaku, PMI tidak diperbolehkan melakukan hal-hal sebagai berikut:  Memperoleh fasilitas kredit atau pinjaman dari bank lain dengan tujuan penggunaan yang sama dengan fasilitas kredit dari Bank Mandiri,  Membuat perjanjian hutang, hak tanggungan, kewajiban lain atau menjaminkan, dalam bentuk apapun, atas aset PMI, termasuk hak atas tagihan kepada pihak lain, baik yang sudah ada ataupun yang akan ada di kemudian hari,  Mengadakan merger, akuisisi, atau menjual aset yang dijadikan jaminan, mengadakan atau mengubah struktur permodalan PMI, susunan direksi serta komposisi kepemilikan saham,  Memindah-tangankan barang jaminan atau mengikatkan diri sebagai penjamin hutang atau menjaminkan aset PMI kepada pihak lain,  Membagikan dividen lebih dari 50% dari laba tahun berjalan tanpa memperoleh persetujuan dari Bank Mandiri,  Membuat surat perikatan, perjanjian atau dokumen lain yang akan bertentangan dengan Perjanjian Kredit.

During the banking facilities period, PMI may not performs the followings:  Obtained credit facility or loan from other banks with similar purpose with Bank Mandiri credit facility,  Entered into debt agreement, pledging, other liabilities or pledge, in any form, over PMI assets, including right of receivables from third party, existing or will be exist in the future,

D2/April 16, 2010

 Merger, acquisition, or sells assets being pledged as collateral, changes or amends PMI capital structure, board of directors and stockholders’ share composition,  Transfers assets pledged as collateral or entered into guarantor agreement or pledge PMI assets to other party,  Distribute dividend of more than 50% from current year income without obtaining approval from Bank Mandiri,  Entered into agreement, contract, or other form of documents which will contradicts the Credit Agreement.

44

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Berdasarkan Akta Perjanjian Kredit Investasi Nomor KP-CRO/CBC-JPM/005/PK-KI/2008 No. 21 dan Akta Perjanjian Kredit Investasi Nomor KP-CRO/CBCJPM.OO6/PK-KI/2008 No. 22 tanggal 9 September 2008, seluruhnya dibuat di hadapan Sri Ismiyati, S.H., Notaris di Jakarta, PT Bumiraya Investindo (BI), perusahaan anak, memperoleh fasilitas pinjaman Kredit Investasi yang terdiri dari:  Kredit Investasi – Kebun I  Kredit Investasi – Kebun II

Based on Deed of Investment Credit Agreement Nomor KP-CRO/CBC-JPM/005/PK-KI/2008 No. 21 and Deed of Investment Credit Agreement Nomor KPCRO/CBC-JPM.OO6/PK-KI/2008 No. 22 dated September 9, 2008, all made in presence of Sri Ismiyati, S.H., a notary in Jakarta, PT Bumiraya Investindo (BI), a subsidiary, obtained Investment Credit facility which consisted of the following:  Investment Credit – Kebun I  Investment Credit – Kebun II

Seluruh fasilitas Kredit Investasi akan digunakan untuk pembiayaan kembali atas aset kebun kelapa sawit, mengambil alih fasilitas pinjaman yang diberikan kepada BI dari kreditor terdahulu dan pengembangan perkebunan dengan luas tanam 1.000 hektar beserta sarananya.

All Investment Credit facilities are used to refinance palm oil plantation, take over all credit facilities granted for BI from previous creditors and development on plantation area of 1,000 hectares along with its infrastructures.

Fasilitas Kredit Investasi – Kebun I memiliki pagu kredit sebesar Rp 38,6 miliar dengan periode pembayaran 8 (delapan) tahun 6 (enam) bulan termasuk masa tenggang 30 bulan dan dikenakan bunga sebesar 13,5% (floating) per tahun.

Investment Credit – Kebun I facility has credit limit amounted to Rp 38.6 billions with payment period of 8 (eight) years and 6 (six) months including grace period of 30 months and bears an interest rate of 13.5% (floating) per annum.

Fasilitas Kredit Investasi – Kebun II memiliki pagu kredit sebesar Rp 24,3 miliar dengan periode pembayaran 8 (delapan) tahun 6 (enam) bulan termasuk masa tenggang 42 bulan dan dikenakan bunga sebesar 13,5% (floating) per tahun.

Investment Credit – Kebun II facility has credit limit amounted to Rp 24.3 billion with payment period of 8 (eight) years and 6 (six) months including grace period of 42 months and bears an interest rate of 13.5% (floating) per annum.

Pada 31 Desember 2009 dan 2008, seluruh saldo terhutang atas fasilitas Kredit Investasi masing-masing sebesar Rp 49.032.385.641 dan Rp 46.278.253.385 dan dikenakan bunga sebesar 13,5% per tahun.

As of December 31, 2009 and 2008, all outstanding balance of Investment Credit facilities amounted to Rp 49,032,385,641 and Rp 46,278,253,385, respectively, and borne an interest rate of 13.5% per annum.

Berdasarkan Akta Perjanjian Kredit Investasi (Pembangunan Pabrik Kelapa Sawit) Nomor KPCRO/CBC-JPM/010/PK-KI/2009 No. 28 tanggal 8 Oktober 2009 yang dibuat di hadapan Sri Ismiyati, S.H., Notaris di Jakarta, BI memperoleh fasilitas pinjaman berupa Kredit Investasi – Pabrik Kelapa Sawit yang digunakan untuk pembangunan pabrik kelapa sawit.

Based on Deed of Investment Credit Agreement (Construction of Palm Oil Mill) Nomor KP-CRO/CBCJPM/010/PK-KI/2009 No. 28 dated October 8, 2009 made in presence of Sri Ismiyati, S.H., a notary in Jakarta, BI obtained credit facility of Investment Credit – Palm Oil Mill which will be used for construction of palm oil mill.

Fasilitas Kredit Investasi – Pabrik Kelapa Sawit memiliki pagu kredit sebesar Rp 54,8 milyar dengan periode pembayaran 7 (tujuh) tahun termasuk masa tenggang 2 (dua) tahun dan dikenakan bunga sebesar 13,5% (floating) per tahun.

Investment Credit – Palm Oil Mill facility has credit limit amounted to Rp 54.8 billion with payment period of 7 (seven) years including grace period of 2 (two) years and bears an interest rate of 13.5% (floating) per annum.

Pada 31 Desember 2009, saldo terhutang atas fasilitas Kredit Investasi – Pabrik Kelapa Sawit adalah sebesar Rp 13.236.164.059 dan dikenakan bunga sebesar 13,5% per tahun.

As of December 31, 2009, outstanding balance of Investment Credit – Palm Oil Mill amounted to Rp 13,236,164,059 and borne an interest rate of 13.5% per annum.

D2/April 16, 2010

45

paraf :

PT TIGA PILAR SEJAHTERA FOOD Tbk DAN PERUSAHAAN ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2009 dan 2008 (Dalam Rupiah Penuh) Jaminan atas fasilitas pinjaman tersebut di atas adalah sebagai berikut:  Mesin, peralatan, alat berat dan sarana pendukung lainnya atas Pabrik Kelapa Sawit yang baru akan dibangun (lihat Catatan 10, 13 dan 31),  Kendaraan yang sudah ada dan yang akan ada milik BI (lihat Catatan 10),  Keseluruhan proyek berupa kebun seluas 3.300 Hektar (lihat Catatan 11), yang terdiri dari: – Lahan seluas kurang lebih 1.041 hektar dengan Sertifikat Hak Guna Usaha (SHGU) No. 30, terdaftar atas nama BI dan berlokasi di Desa Sebanti, Gemuruh, Lontar Timur dan Selatan, Tata Mekar, Kampung Baru dan Tanjung Pelayar, Kecamatan Pulau Laut Barat, Kotabaru – Kalimantan Selatan, – Lahan seluas kurang lebih 823 Hektar dengan SHGU No. 68 yang berlokasi di Desa Sebanti dan Sumbersari, Kecamatan Pulau Laut Barat, Kotabaru – Kalimantan Selatan, – Lahan seluas kurang lebih 939 Hektar dengan SHGU No. 69 dan No. 70 yang berlokasi di Desa Teluk Sirih, Sei Bulan, Sei Bahrim dan Tanjung Serudung, Kecamatan Pulau Laut Selatan, Kotabaru – Kalimantan Selatan,

    

Collaterals for abovementioned loan facilities are as follows:  Machinery and equipments, heavy equipments and other infrastructures of Palm Oil Mill which will be constructed (see Note 10, 13 and 31),  Existing and future vehicles of BI (see Note 10),  The whole palm oil plantation with area of 3,300 hectares (see Note 11), consists of the following: – Land with area of approximately 1,041 hectares with Land Cultivation Right (SHGU) No. 30, registered under BI name and located in Sebanti, Gemuruh, Lontar Timur, Lontar Selatan, Tata Mekar, Kampung Baru and Tanjung Pelayar Village, Pulau Laut Barat District, Kotabaru – South Borneo,

– Lahan seluas kurang lebih 200 hektar yang sampai dengan tanggal penyelesaian laporan keuangan konsolidasian ini masih dalam pengurusan sertifikat, – Bukti kepemilikan atas lahan yang masih berstatus ijin lokasi yang akan diproses kemudian menjadi SHGU, Corporate Guarantee dari PT Permata Handrawina Sakti, pemegang saham, Corporate Guarantee dari Perusahaan, Gadai Saham pemegang saham BI, Seluruh persediaan BI, dan Seluruh piutang usaha BI kepada pihak ketiga.

    

Selama periode fasilitas pinjaman berlaku, BI tidak diperbolehkan melakukan hal-hal sebagai berikut:  Memperoleh fasilitas kredit atau pinjaman lain, kecuali dalam transaksi usaha yang wajar,  Memberikan pinjaman baru kepada pihak ketiga dan hubungan istimewa, kecuali dalam transaksi usaha yang wajar,  Mengadakan penyertaan baru atau membiayai perusahaan lain,  Mengikat diri sebagai penjamin hutang atau menjaminkan aset kepada pihak lain,  Memindahtangankan barang jaminan kecuali persediaan yang diperdagangkan,  Melunasi hutang kepada Perusahaan,

D2/April 16, 2010


– Land with area of approximately 823 hectares with SHGU No. 68 located in Sebanti and Sumbersari Vilage, Pulau Laut Barat District, Kotabaru – South Borneo – Land with area of approximately 939 hectares with SHGU No. 69 and No. 70 located in Teluk Sirih Village, Sei Bulan Village, Sei Bahrim Village and Tanjung Serudung Village, Pulau Laut Selatan District, Kotabaru – South Borneo, – Land of approximately 200 hectares which up to completion date of these consolidated financial statements still under certification process, – Evidence of land ownerships which status are still location permits of which will be processed to SHGU, Corporate Guarantee from PT Permata Handrawina Sakti, a stockholder, Corporate Guarantee from the Company, BI shares held by its stockholders, All inventories of BI, and All trade receivables of BI to third parties.

During the loan facilities period, BI may not performs the followings:  Obtained other credit or loan facility, except for transactions conducted in normal business course,  Grant new loan to third parties and related parties, except for transactions conducted in normal business course,  Perform new investment or financing other companies,  Act as guarantor or pledge assets to other party,  Transfers assets being pledged as collateral except traded inventory,  Repays liabilities to the Company,

46

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 Menjual, memindahtangankan atau melepaskan sebagian atau seluruh aset yang dapat mempengaruhi kemampuan pelunasan hutang,  Mengubah susunan pengurus dan pemegang saham,  Melakukan merger, akuisisi, konsolidasi atau membeli atau memperoleh saham perusahaan lain,  Mengajukan permohonan dan/atau menyuruh pihak lain mengajukan permohonan kepada Pengadilan untuk dinyatakan pailit atau meminta penundaan pembayaran hutang,  Melakukan pembayaran bunga atas pinjaman dan/atau melunasi pinjaman kepada pemegang saham atau pihak hubungan istimewa,  Memberikan hak preferen kepada Perusahaan dalam hal penyelesaian hutang, dan  Mengambil bagian keuntungan atau modal untuk kepentingan di luar usaha dan pribadi. b.

 Sell, transfer or disposes portion or all asset which may affect the ability to settle the outstanding facility,  Change the management and stockholder’s composition,  Perform merger, acquisition, consolidation or acquire or obtain other company’s shares,  Request or order other party to request bankruptcy to the Court or rescheduling of debt repayments,  Repays interest of loan or repays the principal of loan to stockholder or related parties,  Grant preferred right to the Company in regards of loan settlement, and  Obtain portion of profit or capital for private interest and beyond the normal course of business. b.

PT Bank Muamalat Indonesia (BMI) Berdasarkan Akta Wa’d Pembiayaan Murabahah No. 42 tanggal 25 Mei 2009 yang dibuat di hadapan Yualita Widyadhari, S.H, Notaris di Jakarta, PT Tiga Pilar Sejahtera (TPS), perusahaan anak, memperoleh fasilitas pinjaman Wa’d Al Murabahah dari BMI yang digunakan untuk menambah modal kerja TPS, memiliki pagu kredit Rp 100 milyar dengan periode pembayaran 60 bulan. Jaminan atas fasilitas pinjaman tersebut di atas adalah sebagai berikut:  Tanah dengan Sertifikat Hak Guna Bangunan (SHGB) No. 14 – 18, No. 20 – 26, No. 29, dan No. 33 – 35, seluruhnya terdaftar atas nama TPS, yang berlokasi di Desa Sepat, Kecamatan Masaran, Sragen – Jawa Tengah,  Tanah seluas 15.750 hektar, bangunan kantor dan tanaman kelapa sawit seluas 4.533 hektar yang berlokasi di Desa Bambulung & Ketab, Kecamatan Pematang, Barito Timur – Kalimantan Tengah,  Saham PT Mitra Jaya Agro Palma atas nama PT Permata Handrawina Sakti sebanyak 24.222 lembar, dan  Corporate Guarantee dari Perusahaan.

c.

The collaterals for abovementioned loan facility were as follows:  Land with Building Right Title (SHGB) Nos. 14 – 18, Nos. 20 – 26, No. 29 and Nos. 33 – 35, all registered under TPS name, located in Sepat Village, Masaran District, Sragen – Central Java,  Land with area of 15,750 hectares, office building, palm oil plantation with area of 4,533 hectares located in Bambulung and Ketab Village, Pematang District, East Barito – Central Borneo,  PT Mitra Jaya Agro Jaya shares registered under PT Permata Handrawina Sakti, a stockholder, name amounted to 24.222 shares, and  Corporate Guarantee from the Company. c.

PT Bank ANZ Panin (ANZ Panin) Berdasarkan amandemen atas Perjanjian Kredit No. 098681/XII/2007 tanggal 24 Desember 2007 yang telah dilegalisasi oleh Teddy Anwar, S.H., Notaris di Jakarta, PT Tiga Pilar Sejahtera (TPS), perusahaan anak, memperoleh tambahan fasilitas perbankan dari ANZ Panin sebagai berikut:  Fasilitas Term Loan  Fasilitas Revolving Loan

D2/April 16, 2010

PT Bank Muamalat Indonesia (BMI) Based on Deed of Wa’d Murabahah Financing No. 42 dated May 25, 2009 made in presence of Yualita Widyadhari, S.H., a notary in Jakarta, PT Tiga Pilar Sejahtera (TPS), a subsidiary, obtained loan facility Wa’d Al Murabahah from BMI that is being used to increase TPS working capital with credit limit amounted to Rp 100 billion with payment period of 60 months.

47

PT Bank ANZ Panin (ANZ Panin) Based on amendment on Credit Agreement No. 098681/XII/2007 dated December 24, 2007 which had been legalized by Teddy Anwar, S.H., a notary in Jakarta, PT Tiga Pilar Sejahtera (TPS), a subsidiary, obtained additional banking facilities from ANZ Panin as follows:  Term Loan facility  Revolving Loan facility paraf :



Fasilitas Term Loan digunakan untuk melunasi fasilitas pinjaman TPS yang diperoleh dari PT Bank CIMB Niaga Tbk, memiliki pagu kredit sebesar Rp 74 milyar dan USD 3,200,000 dengan masa pembayaran selama 5 (lima) tahun dan dikenakan bunga sebesar JIBOR / SIBOR + 2,90% per tahun.

Term Loan Facility were used to refinance TPS loan obtained from PT Bank CIMB Niaga Tbk, with credit limit amounted to Rp 74 billion and USD 3,200,000 with payment period of 5 (five) years and interest rate of JIBOR / SIBOR + 2.90% per annum.

Fasilitas Revolving Loan disajikan sebagai Hutang Bank Jangka Pendek pada neraca konsolidasian (lihat Catatan 14.d).

Revolving Loan facility is presented as Short-term Bank Loan in consolidated balance sheets (see Note 14.d).

Seluruh saldo terhutang atas fasilitas Term Loan telah dilunasi TPS pada tanggal 25 Nopember 2009.

All outstanding balance of Term Loan faciliity has been fully paid by TPS on November 25, 2009.

19. Kewajiban Diestimasi atas Imbalan Kerja

19. Estimated Liability on Employee Benefits

Perusahaan dan perusahaan anak mengakui kewajiban manfaat karyawan sesuai dengan peraturan ketenagakerjaan yang berlaku. Kewajiban diestimasi atas imbalan kerja Perusahaan dan perusahaan anak per 31 Desember 2009 dan 2008 dihitung oleh Aktuaris Independen PT Dian Artha Tama dengan tanggal laporan masing-masing 8 Maret 2010 dan 12 Maret 2009.

The Company and subsidiaries recognized liability on employees’ benefit based on the existing Labor Law. The balance of the Company’s and subsidiaries’ estimated liability on employees’ benefits as of December 31, 2009 and 2008 were calculated by PT Dian Artha Tama, independent actuary, in their reports dated March 8, 2010 and March 12, 2009, respectively.

Rincian beban imbalan kerja tahun berjalan adalah sebagai berikut:

A detail of employee benefit expense for the current year is as follows:

2009 Rp Beban Jasa Kini Beban Bunga

2008 Rp

1,744,237,311 539,250,889 11,364,680

745,967,650 597,728,943

Current Service Cost Interest Expenses

11,364,680

Amortization of Non-vested Past Service Cost

Kerugian (Keuntungan) Aktuaria

(19,119,317)

2,708,997

Actuarial Loss (Gain)

Jumlah Beban Imbalan Kerja

2,275,733,563

1,357,770,270

Total Employee Benefit Expense

Amortisasi Biaya Jasa Masa Lalu (Non Vested)

Mutasi kewajiban imbalan kerja pada 31 Desember 2009 dan 2008 adalah sebagai berikut:

A detail of estimated liability on employee benefit is as follows:

2009 Rp Saldo Awal Tahun Beban Imbalan Kerja yang Diakui pada Tahun Berjalan Realisasi Pembayaran Tahun Berjalan Saldo Akhir Tahun

D2/April 16, 2010

2008 Rp

6,062,254,197

5,078,589,297

Beginning Balance

2,275,733,563

1,357,770,270

Employee Benefits Expense Recognized in the Current Year

(406,579,129)

(374,105,370)

Realization of Payment in Current Year

7,931,408,631

6,062,254,197

Ending Balance

48

paraf :

PT TIGA PILAR SEJAHTERA FOOD Tbk DAN PERUSAHAAN ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2009 dan 2008 (Dalam Rupiah Penuh) Asumsi aktuaria yang digunakan dalam menentukan beban dan kewajiban diestimasi atas imbalan kerja pada tanggal 31 Desember 2009 dan 2008 adalah sebagai berikut: Usia Pensiun Normal Estimasi Kenaikan Gaji Tingkat Diskonto Tingka Mortalita Tingkat Pengunduran Diri Metode

PT TIGA PILAR SEJAHTERA FOOD Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2009 and 2008 (In Full Rupiah) The actuarial assumptions used in calculation of estimated liabilities on employee benefits as of December 31, 2009 and 2008, are as follows:

55 Tahun/Years 8% 2009: 10%, 2008: 12% Commissioners Standard Ordinary (CSO)- 1980 Usia/Age 18-44 : 5% per tahun/annually Usia/Age 45-54 : 0% per tahun/annually Projected Unit Credit

20. Hutang Obligasi Konversi

Hutang Obligasi Konversi Dikurangi: Obligasi Diperoleh Kembali Jumlah Hutang Obligasi Konversi - Bersih

Normal Pension Age Estimated Salary Increase Discount Rate Mortality Rate Resignation Rate Method 20. Convertible Bonds

2009

2008

Rp

Rp

33,500,000,000 (30,000,000,000)

33,500,000,000 (30,000,000,000)

Convertible Bonds Less: Treasury Bonds

3,500,000,000

3,500,000,000

Total Convertible Bonds - Net

Sebagai bagian dalam penyelesaian restrukturisasi hutang Perusahaan dan perusahaan anak pada tahun 2002, Perusahaan menerbitkan obligasi konversi sebesar Rp 60 milyar, berperiode 8 tahun, tanpa bunga dan tidak ada aset Perusahaan dan perusahaan anak yang dijadikan jaminan.

As part of the Company and subsidiaries loan restructuring in year 2002, the Company had issued convertible bonds amounted to Rp 60 billion, with maturity of 8 years, bearing no interest and no asset of the Company and subsidiaries were pledged as collateral.

Obligasi ini dapat dikonversi dengan saham Perusahaan selama periode konversi dari tanggal 2 Oktober 2002 sampai dengan tanggal 9 September 2010 dengan harga pelaksanaan sebesar Rp 200 per saham, melalui penerbitan saham baru tanpa hak memesan efek terlebih dahulu.

These bonds are convertible into the Company’s share during the conversion period from October 2, 2002 up to September 9, 2010 with exercise price of Rp 200 per share, executed through issuance of additional stock without preemptive rights.

Pada tanggal 19 Nopember 2003, PT Tiga Pilar Sekuritas, melaksanakan konversi 53 lembar obligasi senilai Rp 26.500.000.000 menjadi 132.500.000 saham Perusahaan.

On November 19 2003, PT Tiga Pilar Sekuritas had converted 53 shares of bonds amounted to Rp 26,500,000,000 into 132,500,000 Company’s share.

Pada tahun 2003, Perusahaan dan perusahaan anak membeli kembali sebagian obligasi konversi yang telah diterbitkan sebesar Rp 30 milyar.

In 2003, the Company and subsidiaries bought back a portion of issued convertible bonds amounted to Rp 30 billion.

D2/April 16, 2010

49

paraf :



21. Modal Saham

21. Capital Stock

Berdasarkan data PT Sinartama Gunita, Biro Administrasi Efek Perusahaan, pemegang saham Perusahaan per 31 Desember 2009 dan 2008 adalah sebagai berikut: Nama Pemegang Saham

Jumlah Saham/ Number of Shares

According to data of PT Sinartama Gunita, the Company’s Share Registrar, the Company stockholders as of December 31, 2009 and 2008 is as follows:

2009 Persentase Kepemilikan/ Percentage of Ownership %

Ditempatkan dan Disetor Penuh/ Issued and Fully Paid Rp

Name of Stockholders

Saham Seri A Masyarakat (masing- masing dibawah 5%)

135,000,000

8.07

67,500,000,000

Serie A Share Public (each below 5%)

Saham Seri B PT Permata Handrawira Sakti Primanex Pte. Ltd. HSBC-Fund Services Basinale Investment Ltd Pandawa Treasuries Pte. Ltd. Masyarakat (masing-masing dibawah 5%) Sub Jumlah

324,500,000 307,168,050 192,159,000 136,402,000 115,009,050 461,761,900 1,537,000,000

19.41 18.37 11.49 8.16 6.88 27.62 91.93

64,900,000,000 61,433,610,000 38,431,800,000 27,280,400,000 23,001,810,000 92,352,380,000 307,400,000,000

Serie B Share PT Permata Handrawira Sakti Primanex Pte. Ltd. HSBC-Fund Services Basinale Investment Ltd Pandawa Treasuries Pte. Ltd. Public (each below 5%) Sub Total

Jumlah Modal Saham

1,672,000,000

100.00

374,900,000,000

Total Capital Stock

Nama Pemegang Saham

Jumlah Saham/ Number of Shares

2008 Persentase Kepemilikan/ Percentage of Ownership %

Ditempatkan dan Disetor Penuh/ Issued and Fully Paid Rp

Name of Stockholders

Saham Seri A Masyarakat (masing- masing dibawah 5%)

135,000,000

8.07

67,500,000,000

Serie A Share Public (each below 5%)

Saham Seri B PT Permata Handrawira Sakti Primanex Pte. Ltd. Pandawa Treasuries Pte. Ltd. PT Tiga Pilar Sekuritas Basinale Investment Ltd Masyarakat (masing-masing dibawah 5%) Sub Jumlah

324,500,000 307,168,050 307,108,050 143,573,000 136,220,000 318,430,900 1,537,000,000

19.41 18.37 18.37 8.59 8.15 19.04 91.93

64,900,000,000 61,433,610,000 61,421,610,000 28,714,600,000 27,244,000,000 63,686,180,000 307,400,000,000

Serie B Share PT Permata Handrawira Sakti Primanex Pte. Ltd. Pandawa Treasuries Pte. Ltd. PT Tiga Pilar Sekuritas Basinale Investment Ltd Public (each below 5%) Sub Total

Jumlah Modal Saham

1,672,000,000

100.00

374,900,000,000

Total Capital Stock

D2/April 16, 2010

50

paraf :



22. Agio Saham

22. Additional Paid-in Capital

Akun ini merupakan selisih antara nilai nominal saham dengan jumlah penerimaan harga pasar saham pada saat Perusahaan melakukan Penawaran Saham Perdana kepada masyarakat dan Penawaran Umum Terbatas II dengan Hak Memesan Efek Terlebih Dahulu (lihat catatan 1.b).

This account represents the difference between par value of share and its market buying price when the Company performed Initial Public Offering to the public and Limited Public Offering II with Pre Emptive Right (see Note 1.b). Rp

Penawaran Umum Perdana Tahun 1997 Penawaran Umum Terbatas Kedua Tahun 2008 Biaya Emisi Saham

20,250,000,000 201,894,000,000 (4,327,675,345)

Initial Public Offering in 2007 Second Limited Public Offering in 2008 Stock Issuance Cost

Jumlah Agio Saham

217,816,324,655

Total Additional Paid-in Capital

23. Selisih Nilai Transaksi Restrukturisasi Entitas Sepengendali Perusahaan Anak/ Subsidiaries

PT Tiga Pilar Sejahtera PT Bumiraya Investindo PT Poly Meditra Indonesia PT Patra Power Nusantara

23. Difference in Value from Restructuring Transactions between Entities Under Common Control Jumlah Saham/ Number of Shares

Harga Pengalihan/ Transfer Price Rp

Selisih Nilai/ Difference in Value Rp

109,500,000,000 139,000,000,000 145,000,000,000 36,000,000,000

110,631,738,707 92,378,149,947 116,596,793,410 37,962,000,000

(1,131,738,707) 46,622,850,520 27,280,767,751 (1,962,000,000)

Jumlah/Total

429,500,000,000

357,568,682,064

70,809,879,564

Berdasarkan Akta Jual Beli Saham No. 17 tanggal 24 Oktober 2003 yang dibuat di hadapan Saal Bumela, S.H., Notaris di Jakarta, Perusahaan mengakuisisi 99.90% kepemilikan di PT Tiga Pilar Sejahtera, perusahaan anak, dari pihak-pihak hubungan istimewa.

Based on the Deed of Sale and Purchase of Shares No. 17 dated October 24, 2003 made in presence of Saal Bumela, S.H., a notary in Jakarta, the Company acquired 99.90% ownership in PT Tiga Pilar Sejahtera, a subsidiary, from related parties.

Berdasarkan Akta Jual Beli Saham No. 7 tanggal 12 Juni 2008 dan Akta Jual Beli Saham No. 8 tanggal 12 Juni 2008, seluruhnya dibuat di hadapan Syarifah Chozie, S.H., M.H., Notaris di Jakarta, Perusahaan mengakuisisi 99,90% kepemilikan saham di PT Bumiraya Investindo, perusahaan anak, dari pihak-pihak yang mempunyai hubungan istimewa.

Based on the Deed of Sale and Purchase of Shares No. 7 dated June 12, 2008 and Deed of Sale and Purchase of Shares No. 8 dated June 12, 2008, all made in presence of Syarifah Chozie, S.H., M.H., a notary in Jakarta, the Company acquired 99.90% ownership in PT Bumiraya Investindo, a subsidiary, from related parties.

Berdasarkan Akta Jual Beli Saham No. 9 tanggal 12 Juni 2008 yang dibuat di hadapan Syarifah Chozie, S.H., M.H., Notaris di Jakarta, Perusahaan mengakuisisi 99,96% persen kepemilikan di PT Poly Meditra Indonesia, perusahaan anak, dari pihak-pihak yang mempunyai hubungan istimewa.

Based on the Deed of Sale and Purchase of Shares No. 9 dated June 12, 2008 made in presence of Syarifah Chozie, S.H., M.H., a notary in Jakarta, the Company acquired 99.96% ownership in PT Poly Meditra Indonesia, a subsidiary, from related parties.

D2/April 16, 2010

109,890,000 90,909 111,888,000 37,962

Bagian Perusahaan atas Aset Bersih/ The Company's Portion of Net Assets Rp

51

paraf :

PT TIGA PILAR SEJAHTERA FOOD Tbk DAN PERUSAHAAN ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2009 dan 2008 (Dalam Rupiah Penuh) Berdasarkan Akta Jual Beli Saham No. 10 tanggal 12 Juni 2008 dan Akta Jual Beli Saham No. 11 tanggal 12 Juni 2008, seluruhnya dibuat di hadapan Syarifah Chozie, S.H., M.H., Notaris di Jakarta, Perusahaan mengakuisisi 99,90% kepemilikan di PT Patra Power Niaga, perusahaan anak, dari pihak-pihak hubungan istimewa.

PT TIGA PILAR SEJAHTERA FOOD Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2009 and 2008 (In Full Rupiah) Based on the Deed of Sale and Purchase of Shares No. 10 dated June 12, 2008 and Deed of Sale and Purchase of Shares No. 11, dated June 12, 2008, all made in presence of Syarifah Chozie, S.H., M.H., a notary in Jakarta, the Company acquired 99.90% ownership in PT Patra Power Nusantara, a subsidiary, from related parties.

24. Penjualan – Bersih

Penjualan Kotor

24. Sales – Net 2009

2008

Rp

Rp

540,759,252,414

496,972,582,949

Gross Sales

Dikurangi: Diskon Penjualan

(7,564,869,187)

(7,800,912,549)

Less: Sales Discount

Jumlah Penjualan - Bersih

533,194,383,227

489,171,670,400

Total Sales - Net

Rincian penjualan berdasarkan kelompok produk utama adalah sebagai berikut:

Detail of sales based on main product classification is as follows:

2009 Rp

2008 Rp Consumer Product

Produk Konsumen Mie Kering Biskuit

172,451,493,373 112,772,529,773

167,143,276,477 73,974,523,762

Dry Noodle Biscuit

Mie Instan Bihun Permen

104,196,045,505 82,688,427,501 15,776,904,472

104,733,164,096 96,400,017,554 12,858,941,778

Instant Noodle Vermicelli Candy

Wafer Stick dan Snack Ekstrusi Susu

9,419,488,306 688,246,296

7,818,349,369 142,085,188

Waffer Stick and Snack Extrusion Milk

Lainnya Sub Jumlah Produk Konsumen

2,741,128,414 500,734,263,640

4,213,025,465 467,283,383,689

Others Sub Total of Consumer's Product

40,024,988,774

29,689,199,259

Plantations Product Fresh Fruit Bunch

Sub Jumlah Penjualan Dikurangi: Diskon Penjualan

540,759,252,414 (7,564,869,187)

496,972,582,948 (7,800,912,548)

Sub Total Sales Less: Sales Discount

Jumlah Penjualan - Bersih

533,194,383,227

489,171,670,400

Total Sales - Net

Produk Perkebunan Tandan Buah Segar

Penjualan dengan nilai jual bersih melebihi 10% dari jumlah penjualan bersih adalah kepada United Nations for World Food Programme dengan nilai penjualan sebesar Rp 116.138.395.487 (21,78%) dan Rp 88.140.232.177 (18,02%) masing-masing pada tahun yang berakhir pada 31 Desember 2009 dan 2008.

D2/April 16, 2010

Sales with net sales amount exceeding 10% of total net sales were to United Nations for World Food Programme amounted to Rp 116,138,395,487 (21.78%) and Rp 88,140,232,177 (18.02%) for years ended December 31, 2009 and 2008, respectively.

52

paraf :



25. Beban Pokok Penjualan

25. Cost of Goods Sold 2009 Rp

2008 Rp Consumers Product

Produk Konsumen Bahan Baku Digunakan Saldo Awal Pembelian Saldo Akhir Jumlah Bahan Baku Digunakan

Usage of Raw Material Beginning Balance

119,960,702,155

120,702,208,423

216,825,969,632 (135,604,968,579) 201,181,703,208

178,573,512,373 (119,960,702,155) 179,315,018,641

13,793,574,495

15,926,877,768

Direct Labors

143,535,618,052 358,510,895,755

130,783,269,956 326,025,166,365

Factory Overhead Expenses Cost of Good Manufactured

26,007,174,725

18,035,179,229

Finished Good Beginning Balance

(33,262,123,054)

(26,007,174,725)

351,255,947,426

318,053,170,869

Tenaga Kerja Langsung Biaya Produksi Tidak Langsung Biaya Pokok Produksi Persediaan Barang Jadi Awal tahun Akhir Tahun Jumlah Beban Pokok Penjualan Produk Konsumen

Purchases Ending Balance Total Usage of Raw Material

Ending Balance Cost of Goods Sold for Consumers Product Plantations Product

Produk Perkebunan Beban Produksi Langsung Upah Langsung Pemeliharaan dan Perbaikan Penyusutan Tanaman Perkebunan Menghasilkan Pengangkutan dan Panen Sub Jumlah Beban Produksi Langsung Beban Produksi Tidak Langsung Jumlah Beban Pokok Penjualan Produk Perkebunan Jumlah Beban Pokok Penjualan

Direct Costs Wages

6,573,186,839

1,082,658,392

9,057,269,565

7,739,857,303

Maintenance and Recovery Depreciation of Mature

3,260,800,284 6,595,906,968 25,487,163,656

2,107,890,436 3,773,032,763 14,703,438,894

Plantation Trees Transportation and Harvesting Sub Total Direct Costs

3,473,712,680

3,522,994,028

28,960,876,336

18,226,432,922

380,216,823,762

336,279,603,791

Rincian pembelian dengan nilai pembelian bersih melebihi 10% dari pembelian bersih untuk tahun-tahun yang berakhir 31 Desember 2009 dan 2008 adalah sebagai berikut:

Indirect Production Costs Cost of Goods Sold for Plantations Product Total Cost of Goods Sold

Purchases with net purchase amount exceeding 10% of total purchase value for years ended December 31, 2009 and 2008 were as follows:

Jumlah/

Persentase terhadap Jumlah Pembelian Bersih/

Total

Percentage to Respective Net Purchase 2009

2008

2009

2008

Rp

Rp

(%)

(%)

PT Sriboga Ratu Raya Manildra Flour Mills

101,461,838,609 2,346,221,444

51,437,293,455 56,675,143,318

46.79 1.08

28.80 31.74

PT Sriboga Ratu Raya Manildra Flour Mills

Jumlah Pembelian Bersih

103,808,060,053

108,112,436,773

47.87

60.54

Total Net Purchase

D2/April 16, 2010

53

paraf :



26. Beban Usaha

26. Operating Expenses 2009 Rp

2008 Rp Selling Expenses

Beban Penjualan Pengangkutan Promosi

7,733,725,260 5,703,737,657

6,955,091,719 4,935,051,482

Transportation Promotion

Gaji dan Kesejahteraan Karyawan Transportasi dan Akomodasi Sewa

4,999,838,941 1,148,605,810 866,835,504

2,823,844,835 1,895,952,522 1,504,195,044

Employee Salary and Allowances Transportation and Accomodation Rental

Penyusutan Pajak

497,685,058 111,639,014

460,740,724 129,879,875

Depreciation Taxes

Telepon, Telex dan Faksimili Penyisihan Piutang Ragu-ragu Lain-lain (masing-masing dibawah Rp 100 juta)

101,677,773 -448,818,589

242,834,993 490,065,226 597,650,131

Phone, Telex, Facsimile Allowance for Doubtful Accounts Others (each below Rp 100 million)

21,612,563,606

20,035,306,551

Sub Total

12,424,214,455 2,147,699,407

8,976,296,700 2,439,767,053

Penyusutan Imbalan Kerja

1,893,272,912 1,869,154,434

1,547,456,647 983,664,900

Depreciation Employee Benefits

Perlengkapan Kantor Sewa Profesional dan Konsultan

1,392,614,666 1,230,291,853 1,089,701,401

443,939,397 111,119,089 1,469,106,452

Office Supplies Rental Professional and Consultant

Denda Pajak Telepon, Telex dan Faksimili

984,867,140 761,543,528

145,114,346 659,852,909

Tax Penalties Phone, Telex, Facsimile

Listrik dan Air Pemeliharaan Bangunan dan Kebersihan

759,928,034 410,729,706

421,417,167 378,030,260

Electricity and Water Building Maintenance and Cleaning

Representasi dan Jamuan Pelatihan dan Pengembangan Lain-lain (masing-masing dibawah Rp 100 juta)

364,345,762 174,299,935 393,774,186

743,815,661 157,018,531 1,403,879,973

Representation and Entertainment Training and Development Others (each below Rp 100 million)

25,896,437,419

19,880,479,085

Sub Total

47,509,001,025

39,915,785,636

Sub Jumlah Beban Umum dan Administrasi Gaji dan Kesejahteraan Karyawan Transportasi dan Akomodasi

Sub Jumlah Jumlah Beban Operasi

D2/April 16, 2010

54

General and Administrative Expenses Employee Salary and Allowances Transportation and Accomodation

Total Operating Expenses

paraf :



27. Laba per Saham

27. Earnings per Share

Perhitungan laba per saham adalah sebagai berikut:

Earnings per share calculation is as follows: 2009 Rp

2008 Rp

Setelah Efek Penyesuaian Pro Forma Laba Bersih

--

37,455,922,334

After Effect of Pro Forma Adjustment Net Income

Rata-rata Tertimbang Jumlah Saham yang Beredar

--

1,441,813,699

Weighted Average of Outstanding Shares

Obligasi Konversi Berpotensi Dilusi Saham Seri B

--

167,500,000

Convertible Bonds with Potentially Diluted Serie B Shares

Jumlah Saham Dasar Dilusian

--

1,609,313,699

Amount of Diluted Shares

---

25.98 23.27

37,786,775,452

28,686,156,655

1,441,813,699

1,441,813,699

Net Income Weighted Average of Outstanding Shares

167,500,000

167,500,000

Convertible Bonds with Potentially Diluted Serie B Shares

1,609,313,699

1,609,313,699

Amount of Diluted Shares

Earnings per Share

Laba per Saham Laba per Saham Dasar Laba per Saham Dilusian

Before Effect of Pro Forma Adjustment

Sebelum Efek Penyesuaian Pro Forma Laba Bersih Rata-rata Tertimbang Jumlah Saham yang Beredar Obligasi Konversi Berpotensi Dilusi Saham Seri B Jumlah Saham Dasar Dilusian

Earnings per Share

Laba per Saham Laba per Saham Dasar Laba per Saham Dilusian

D2/April 16, 2010

Earnings per Share Diluted Earnings per Share

26.21 23.48

55

19.90 17.83

Earnings per Share Diluted Earnings per Share

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28. Informasi Segmen a.

28. Segment Information a.

Segmen Primer Mie dan Bihun/ Noodle and

Barang Konsumsi/

2009 Perkebunan/ Plantation

Lain-lain/ Others

Vermicelli

Consumer Goods Rp

Rp

Rp

Rp Penjualan - Bersih Beban Pokok Penjualan Laba Kotor Alokasi Beban Usaha Laba Usaha Beban Bunga dan Provisi Beban Administrasi Bank Laba Selisih Kurs Lain-lain Laba sebelum Beban Pajak Penghasilan

Konsolidasian/ Consolidated

352,283,664,639

138,144,601,400

40,024,988,774

2,741,128,414

533,194,383,227

(255,711,126,649) 96,572,537,990 (30,709,053,925) 65,863,484,065

(94,044,117,511) 44,100,483,889 (2,261,098,925) 41,839,384,964

(28,960,876,336) 11,064,112,438 (2,091,870,262) 8,972,242,176

(1,500,703,266) 1,240,425,148 (12,446,977,913) (11,206,552,765)

(380,216,823,762) 152,977,559,465 (47,509,001,025) 105,468,558,440

(43,195,507,741) (6,414,582,498) 5,238,791,500 (7,295,858,260)

(11,128,737,585) (1,369,429,414) 2,260,992,186 144,376,781

(5,604,114,616) (566,796,970) 130,356,627 (2,753,946,410)

--4,855,000,651 12,674,017,393

(59,928,359,942) (8,350,808,882) 12,485,140,964 2,768,589,504

14,196,327,066

31,746,586,932

177,740,807

6,322,465,279

Beban Pajak Penghasilan Laba sebelum Hak Minoritas Hak Minoritas Laba Bersih

Primary Segment

Sales - Net Cost of Goods Sold Gross Profit Allocated Operating Expenses Operating Income Interest and Provision Expense Bank Charges Gain on Foreign Exchange

52,443,120,084

Others Income before Income Tax Expense

(14,620,067,177) 37,823,052,907 (36,277,455)

Income before Minority Interest Minority Interest

37,786,775,452

Net Income

Income Tax Expense

Aset Segmen

669,624,151,470

192,586,624,388

377,711,855,268

107,113,851,541

1,347,036,482,667

Segment Assets

Kewajiban Segmen

680,855,224,759

126,955,001,683

65,692,697,192

44,667,208,707

918,170,132,341

Segment Liabilities

8,040,083,459

4,820,000,000

1,777,808,614

1,273,061,235

15,910,953,308

Other Segment Information: Capital Expenditures Depreciation of Property,

35,655,625,504

14,347,552,890

759,998,233

68,226,148

50,831,402,775

Informasi Segmen Lainnya: Belanja Modal Penyusutan Aset Tetap Arus Kas Arus Kas Diperoleh dari (Digunakan Untuk) Aktivitas Operasional Arus Kas Digunakan untuk Aktivitas Investasi Arus Kas Diperoleh dari (Digunakan Untuk) Aktivitas Pendanaaan

D2/April 16, 2010

Plant and Equipment Cash Flows Cash Flow Provided by (Used for) Operating Activities

103,426,601,701

(49,089,174,980)

7,957,220,030

(11,480,007,493)

50,814,639,259

(8,040,083,459)

(4,820,000,000)

(238,844,887,168)

(1,273,061,235)

(252,978,031,862)

Cash Flow Used for Investing Activities

233,249,192,640

10,071,957,422

202,498,509,733

Cash Flow Provided by (Used for) Financing Activities

(96,539,244,329)

55,716,604,000

56

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Penjualan - Bersih Beban Pokok Penjualan Laba Kotor Alokasi Beban Usaha Laba Usaha

Mie dan Bihun/ Noodle and Vermicelli

Barang Konsumsi/ Consumer

Rp

Goods Rp


2008 Perkebunan/ Plantation

Lain-lain/ Others

Rp

Rp


Sales - Net Cost of Goods Sold Gross Profit Allocated Operating Expenses Operating Income

360,475,545,579 (254,961,541,229) 105,514,004,350

93,706,833,212 (59,636,943,009) 34,069,890,203

29,689,199,259 (18,310,677,647) 11,378,521,612

5,300,092,350 (3,370,441,906) 1,929,650,444

489,171,670,400 (336,279,603,791) 152,892,066,609

(29,873,362,452) 75,640,641,898

(1,613,638,009) 32,456,252,194

(2,690,319,297) 8,688,202,315

(5,738,465,878) (3,808,815,434)

(39,915,785,636) 112,976,280,973

(44,752,012,417) (2,710,641,096) (5,365,847,775) (7,690,349,364)

(2,453,049,236) (14,449,794) 9,563,222 809,955,752

(4,596,495,164) --(1,187,340,433)

(3,167,773,266) -(890,991,556) 12,008,285,466

(54,969,330,084) (2,725,090,890) (6,247,276,109) 3,940,551,421

15,121,791,246

30,808,272,137

2,904,366,718

4,140,705,210

52,975,135,311

Interest and Provision Expense Bank Charges Gain on Foreign Exchange Others Income before Income Tax Expense

(15,489,489,514) 37,485,645,797

Income Tax Expense Income before Minority Interest and

Penyesuaian Pro Forma Hak Minoritas Efek Penyesuaian Pro Forma

(29,723,463) (8,769,765,679)

Effect of Pro Forma Adjustment Minority Interest Effect of Pro Forma Adjustment

Laba Bersih Sebelum Efek Penyesuaian Pro Forma

28,686,156,655

Net Income Before Pro Forma Adjusment

Beban Bunga dan Provisi Beban Administrasi Bank Laba (Rugi) Selisih Kurs Lain-lain Laba sebelum Beban Pajak Penghasilan Beban Pajak Penghasilan Laba sebelum Hak Minoritas dan

Aset Segmen

645,644,318,707

208,776,304,214

141,899,876,526

20,637,255,704

1,016,957,755,151

Segment Assets

Kewajiban Segmen

506,563,894,899

33,490,202,360

48,819,102,036

37,040,014,061

625,913,213,356

Segment Liabilities

95,041,873,346

44,918,177,409

1,160,999,307

3,730,528,090

144,851,578,152

28,029,464,926

10,179,250,223

759,998,233

42,632,806

39,011,346,188

Capital Expenditures Depreciation of Property, Plant and Equipment

Belanja Modal Penyusutan Aset Tetap

Cash Flows

Arus Kas Arus Kas Diperoleh dari (Digunakan untuk) Aktivitas Operasional Arus Kas Digunakan untuk Aktivitas Investasi Arus Kas Diperoleh dari (Digunakan untuk) Aktivitas Pendanaan

(8,630,333,649)

48,062,428,727

10,501,378,583

(6,036,863,998)

43,896,609,663

Cash Flow Provided by (Used for) Operating Activities

(121,511,411,892)

(44,918,177,409)

(28,223,071,869)

(297,160,989,544)

(491,813,650,714)

Cash Flow Used for Investing Activities

67,390,098,992

(2,329,416,565)

(28,749,185,876)

416,432,605,490

452,744,102,041

Cash Flow Provided by (Used for) Financing Activities

Penyajian segmen Perusahaan pada tahun 2008 telah disesuaikan agar sesuai dengan penyajian segmen pada tahun 2009.

D2/April 16, 2010

Segment presentation of the Company in 2008 has been restated to conform to segment presentation in 2009.

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PT TIGA PILAR SEJAHTERA FOOD Tbk DAN PERUSAHAAN ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2009 dan 2008 (Dalam Rupiah Penuh) b.

PT TIGA PILAR SEJAHTERA FOOD Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2009 and 2008 (In Full Rupiah) b.

Segmen Sekunder Mie dan Bihun/

Barang

Noodles and Vermicelli

Konsumsi/ Consumer

2009 Perkebunan/

Lain-lain/

Konsolidasian/

Plantation

Others

Consolidated

Rp

Rp

Secondary Segment

Goods Rp

Rp

Sales - Net

Penjualan - Bersih Jabodetabek Jawa Tengah

51,821,062,194

111,545,558,819

--

--

163,366,621,013

144,446,553,991 68,450,335,517

7,057,177,283 5,422,103,295

---

2,741,128,414 --

154,244,859,688 73,872,438,812

72,465,335,698

6,359,534,267

--

--

78,824,869,965

10,338,610,214 4,761,767,025

4,117,586,619 3,642,641,117

40,024,988,774 --

---

54,481,185,607 8,404,408,142

352,283,664,639

138,144,601,400

40,024,988,774

2,741,128,414

533,194,383,227

--

--

--

16,805,426,560

16,805,426,560

669,624,151,470 --

192,586,624,388 --

-377,711,855,268

90,308,424,981 --

952,519,200,839 377,711,855,268

669,624,151,470

192,586,624,388

377,711,855,268

107,113,851,541

1,347,036,482,667

--

--

--

7,494,618,860

7,494,618,860

680,855,224,759 --

126,955,001,683 --

-65,692,697,192

37,172,589,847 --

844,982,816,289 65,692,697,192

680,855,224,759

126,955,001,683

65,692,697,192

44,667,208,707

918,170,132,341

--

--

--

81,702,000

81,702,000

Kalimantan Selatan

8,040,083,459 --

4,820,000,000 --

-1,777,808,614

1,191,359,235 --

14,051,442,694 1,777,808,614

Jumlah Belanja Modal

8,040,083,459

4,820,000,000

1,777,808,614

1,273,061,235

15,910,953,308

Jawa Timur Jawa Barat Lain - lain Ekspor Jumlah Penjualan - Bersih

Kalimantan Selatan Jumlah Aset Segmen

Kalimantan Selatan Jumlah Kewajiban Segmen

Greater Jakarta Central Java South Borneo Total Segment Assets

Greater Jakarta Central Java South Borneo Total Segment Liabilities Capital Expenditures

Belanja Modal Jabodetabek Jawa Tengah

Export Total Sales - Net

Segment Liabilities

Kewajiban Segmen Jabodetabek Jawa Tengah

East Java West Java Others

Segment Assets

Aset Segmen Jabodetabek Jawa Tengah

Greater Jakarta Central Java

Greater Jakarta Central Java South Borneo Total Capital Expenditures

2008 Mie dan Bihun/ Noodles and

Barang Konsumsi/

Vermicelli

Consumer

Rp

Goods Rp

Perkebunan/ Plantation

Lain-lain/ Others

Rp

Rp


Sales - Net

Penjualan - Bersih Jabodetabek Jawa Tengah

54,291,244,554 90,309,523,610

69,169,864,601 66,885,083,953

---

-4,213,025,466

123,461,109,155 161,407,633,029

Greater Jakarta Central Java

Jawa Timur Jawa Barat

68,795,628,435

3,718,659,046

--

--

72,514,287,481

70,919,483,046 19,902,665,664

2,641,512,647 5,916,222,049

-29,689,199,259

---

73,560,995,693 55,508,086,972

East Java West Java

-304,218,545,309

2,719,558,070 151,050,900,366

-29,689,199,259

-4,213,025,466

2,719,558,070 489,171,670,400

645,644,318,707

208,776,304,214

--

20,637,255,704

875,057,878,625

-645,644,318,707

-208,776,304,214

141,899,876,526 141,899,876,526

-20,637,255,704

141,899,876,526 1,016,957,755,151

--

--

--

6,555,855,605

6,555,855,605

Jawa Tengah Kalimantan Selatan

506,563,894,899 --

33,490,202,360 --

-48,819,102,036

30,484,158,456 --

570,538,255,715 48,819,102,036

Central Java South Borneo

Jumlah Kewajiban Segmen

506,563,894,899

33,490,202,360

48,819,102,036

37,040,014,061

625,913,213,356

Total Segment Liabilities

95,041,873,346

44,918,177,409

--

3,730,528,090

143,690,578,845

-95,041,873,346

-44,918,177,409

1,160,999,307 1,160,999,307

-3,730,528,090

1,160,999,307 144,851,578,152

Lain - lain Ekspor Jumlah Penjualan - Bersih

Jumlah Aset Segmen Kewajiban Jabodetabek

Jumlah Belanja Modal

Penyajian segmen Perusahaan pada tahun 2008 telah disesuaikan agar sesuai dengan penyajian segmen pada tahun 2009.

D2/April 16, 2010

Central Java South Borneo Total Segment Assets Liabilities Greater Jakarta

Capital Expenditures

Belanja Modal Jawa Tengah Kalimantan Selatan

Total Sales - Net Assets

Aset Jawa Tengah Kalimantan Selatan

Others Export

Central Java South Borneo Total Capital Expenditures

Segment presentation of the Company in 2008 has been restated to conform to segment presentation in 2009.

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29. Aset dan Kewajiban Dalam Mata Uang Asing

29. Asset and Liabilities Denominated in Foreign Currencies

2009 Mata Uang Asing/Foreign Currencies USD Aset Kas dan Setara Kas Investasi Jangka Pendek

SGD

2008 Ekuivalen/ Equivalent

Mata Uang Asing/ Foreign Currency

Ekuivalen/ Equivalent

Rp

USD

Rp

EUR

318,235.17

--

--

2,991,410,598

77,506.53

848,696,504

Assets Cash and Cash Equivalents

--

--

--

--

199,921.20

2,189,137,140

Short Term Investments

28,225.25 318,235.17

---

---

265,317,350 2,991,410,598

-277,427.73

-3,037,833,644

Trade Receivables - Third Parties Sub Total Assets

-(138,251.70)

-(10,480.40)

-(2,160.00)

-(1,398,955,780)

(999,606.00) (55,264.03)

(10,945,685,700) (605,141,129)

Bank Loan - Short Term Trade Payables - Third Parties

Uang Muka Penjualan

(3,951,171.67)

--

--

(37,141,013,698)

--

--

Sales Advance

Beban Masih Harus Dibayar Hutang Sewa Pembiayaan

-(3,731,560.00)

---

---

-(35,076,664,000)

(52,005.00) (2,644,040.00)

(569,454,750) (28,952,238,000)

Accrued Expenses Obligation under Capital Lease

Hutang Bank - Jangka Panjang Sub Jumlah Kewajiban

-(7,820,983.37)

-(10,480.40)

--(2,160.00) (73,616,633,477.60)

(3,200,000.00) (6,950,915.03)

(35,040,000,000) (76,112,519,579)

Bank Loan - Long Term Sub Total Liabilities

(7,502,748.20)

(10,480.40)

(2,160.00)

(6,673,487)

(73,074,685,935)

Piutang Usaha - Pihak Ketiga Sub Jumlah Aset

Liabilities

Kewajiban Hutang Bank - Jangka Pendek Hutang Usaha - Pihak Ketiga

Liabilities Denominated in

Kewajiban dalam Mata Uang Asing - Bersih

(70,625,222,879.60)

30. Reklasifikasi Akun

Foreign Currency - Net

30. Reclassification of Accounts

Perusahaan melakukan reklasifikasi Uang Muka Pembelian sebesar Rp 4,38 milyar tahun 2008 menjadi Uang Muka Jangka Panjang, Biaya Hak atas Tanah Ditangguhkan dan Aset Lain-lain dan Hutang Usaha sebesar Rp 675 juta menjadi Hutang Lain-lain. Perusahaan juga melakukan reklasifikasi dan penyesuaian beberapa akun dalam laporan arus kas konsolidasian tahun 2008. Reklasifikasi dan penyesuaian tersebut untuk menyesuaikan dengan penyajian laporan keuangan konsolidasian tahun 2009.

The Company reclassified Purchase Advance amounted to Rp 4.38 billion in 2008 to Long-term Advance, Deferred Land Rights Cost and Other Assets and Trade Payables amounted to Rp 675 million to Other Payables. The Company also reclassified and adjusted certain accounts in consolidated statements of cashflows in 2008. The reclassification and adjustments are made to conform to presentation of consolidated financial statements in 2009.

31. Perikatan dan Perjanjian Penting

31. Significant Contract and Agreements



Berdasarkan Perjanjian Kontrak No. 001/MINDOTECH/VI/2009 tanggal 10 Juni 2009, PT Bumiraya Investindo (BI), perusahaan anak, menunjuk PT Mindo Tech sebagai kontraktor untuk pembangunan pabrik pengolahan kelapa sawit dengan nilai kontrak sebesar USD 5,448,335 dan Rp 20.699.390.000.



Based on Contract Agreement No. 001/MINDOTECH/VI/2009 dated June 10, 2009, PT Bumiraya Investindo (BI), a subsidiary, appointed PT Mindo Tech as the contractor for construction of palm oil mill with contract value amounted to USD 5,448,335 and Rp 20,699,390,000.



Berdasarkan Prepayment Agremeent No. PA 09-81351516 tanggal 16 Nopember 2009, No. PA 09-81381517 tanggal 17 Nopember 2009 dan No. PA 09-81841540 tanggal 26 Nopember 2009, PT Tiga Pilar Sejahtera (TPS), perusahaan anak, mengadakan perjanjian perikatan jual beli dengan Grains and Industrial Products Trading Pte Ltd., Singapura (GRAINS).



Based on Prepayment Agremeent No. PA 09-81351516 dated November 16, 2009, PA 09-8138-1517 dated November 17, 2009 and No. PA 09-8184-1540 dated November 26, 2009, PT Tiga Pilar Sejahtera (TPS), a subsidiary, has entered into sale and purchase commitment agreement with Grains and Industrial Products Trading Pte Ltd., Singapore (GRAINS).

Berdasarkan masing-masing perjanjian tersebut, TPS berkewajiban untuk mengirimkan beberapa jenis barang sesuai permintaan GRAINS pada tanggal yang telah ditentukan di masa mendatang. Pembayaran yang telah diterima TPS dari GRAINS dicatat sebagai Uang Muka Penjualan di neraca konsolidasian. D2/April 16, 2010

Based on each respective agreements, TPS will be obliged to deliver certain goods as requested by GRAINS on a specified date in the future. Payments received by TPS from GRAINS were presented as Sales Advance in consolidated balance sheets.

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PT TIGA PILAR SEJAHTERA FOOD Tbk DAN PERUSAHAAN ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Untuk Tahun-tahun yang Berakhir 31 Desember 2009 dan 2008 (Dalam Rupiah Penuh) 

Berdasarkan Perjanjian Penggunaan Software No. 008/Sales/IFSSI-TPS/2008 tanggal 3 Juli 2008, PT Tiga Pilar Sejahtera (TPS), perusahaan anak, mengadakan perjanjian pengadaan sistem informasi dengan PT IFS Solutions Indonesia senilai USD 566,780.

PT TIGA PILAR SEJAHTERA FOOD Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) For the Years Ended December 31, 2009 and 2008 (In Full Rupiah)  Based on Software Usage Agreement No. 008/Sales/IFSSI-TPS/2008 dated July 3, 2008, PT Tiga Pilar Sejahtera (TPS), a subsidiary, has entered into procurement of information systems agreement with PT IFS Solutions Indonesia amounted to USD 566,780.

32. Perkembangan Terakhir Standar Akuntansi

32. Latest Development on Accounting Standards

Berikut ini adalah revisi Pernyataan Standar Akuntansi Keuangan (PSAK) yang dikeluarkan oleh Ikatan Akuntan Indonesia:

The followings are the revised Statement of Financial Accounting Standard (PSAK) which were recently issued by the Indonesian Institute of Accountants:

Untuk laporan keuangan periode yang dimulai sejak atau setelah 1 Januari 2010:  PSAK 50 (Revisi 2006) “Instrumen Keuangan: Penyajian dan Pengungkapan”  PSAK 55 (Revisi 2006) “Instrumen Keuangan: Pengakuan dan Pengukuran”  PSAK 26 (Revisi 2008) “Biaya Pinjaman”

For financial statements covering the periods beginning on or after January 1, 2010:  PSAK 50 (Revised 2006) “Financial Instruments: Presentation and Disclosures”  PSAK 55 (Revised 2006) “Financial Instruments: Recognition and Measurement”  PSAK 26 (Revised 2008) “Borrowing Costs”

Untuk laporan keuangan periode yang dimulai sejak atau setelah 1 Januari 2011:  PSAK 01 (Revisi 2009) “Penyajian Laporan Keuangan”  PSAK 02 (Revisi 2009) “Laporan Arus Kas”  PSAK 04 (Revisi 2009) “Laporan Keuangan Konsolidasian dan Laporan Keuangan Tersendiri”  PSAK 05 (Revisi 2009) “Segmen Operasi”  PSAK 12 (Revisi 2009) “Bagian Partisipasi Dalam Ventura Bersama”  PSAK 15 (Revisi 2009) “Investasi Pada Entitas Asosiasi”  PSAK 25 (Revisi 2009) “Kebijakan Akuntansi, Perubahan Estimasi Akuntansi, dan Kesalahan”  PSAK 48 (Revisi 2009) “Penurunan Nilai Aset”  PSAK 57 (Revisi 2009) “Provisi, Kewajiban Kontinjensi, dan Aset Kontinjensi”  PSAK 58 (Revisi 2009) “Aset Tidak Lancar yang Dimiliki untuk Dijual dan Operasi yang Dihentikan”

For financial statements covering the periods beginning on or after January 1, 2011:  PSAK 01 (Revisi 2009) “Presentation of Financial Statements”  PSAK 02 (Revisi 2009) “Statement of Cash Flows”  PSAK 04 (Revisi 2009) “Consolidated and Separate Financial Statements”  PSAK 05 (Revisi 2009) “Operating Segments”  PSAK 12 (Revisi 2009) “Interests in Joint Ventures”

Manajemen tidak menerapkan lebih dini revisi-revisi PSAK tersebut dan belum menentukan dampaknya terhadap laporan keuangan konsolidasian.

Management do not apply early adoption on those revised PSAKs and have not yet determined the related impacts on the consolidated financial statements.

 PSAK 15 (Revisi 2009) “Investments in Associates”  PSAK 25 (Revisi 2009) “Accounting Policies, Changes in Accounting Estimates and Errors”

 PSAK 48 (Revisi 2009) “Impairment of Assets”  PSAK 57 (Revisi 2009) “Provisions, Contingent Liabilities and Contingent Assets”

 PSAK 58 (Revisi 2009) “Non-current Assets Held for Sale and Discontinued Operations”

33. Tanggung Jawab Manajemen atas Laporan Keuangan Konsolidasian Manajemen Perusahaan bertanggung jawab penyusunan laporan keuangan konsolidasian diselesaikan pada tanggal 9 April 2010.

D2/April 16, 2010

33. Management Responsibility On Consolidated Financial Statements atas yang

The management of the Company is responsible for the preparation of the consolidated financial statements which were completed on April 9, 2010.

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10. NON-CURRENT ASSETS Piutang Pihak Hubungan Istimewa

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