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Besarnya imbalan pasca-kerja dihitung berdasarkan peraturan yang berlaku, yakni KEP-150/MEN/2000 (KepMen 150) yang berlaku sejak tahun 2000 dan kemudian disesuaikan menjadi Undang-undang No. 13 Tahun 2003 tanggal 25 Maret 2003.

The amount of post-employment benefits is determined based on the outstanding regulation KEP-150/MEN/2000 (KepMen 150), which took effect in 2000 and was adjusted into Law No. 13 Year 2003, dated March 25, 2003.

Program pensiun iuran pasti Defined contribution pension plan

Imbalan pasca-kerja The-Ritz Carlton Pacific Place (RCPP) didanai melalui program dana iuran pasti. Dana tersebut dikelola oleh DPLK Manulife. Selama tahun 2008, iuran yang ditanggung oleh RCPP adalah sebesar Rp 788.325 ribu.

The-Ritz Carlton Pacific Place (RCPP) provides defined-contribution pension plan, which is managed by DPLK Manulife. During 2008, portion of contributions borne by the RCPP amounted to Rp 788,325 thousand.

Program pensiun manfaat pasti Defined post-employment benefits

Imbalan pasca-kerja Perusahaan sebagian didanai melalui program dana pensiun manfaat pasti. Sedangkan untuk anak perusahaan, tidak diselenggarakan program dana pensiun.

The Company provides post-employment benefits which is in line with the above Manpower Law. The post-employment benefits are defined-benefit of pension plan. (“Appreciation Fee”). On the other hand, the, its subsidiaries did not carry out a pension plan program.

Program pension manfaat pasti (Lanjutan) Defined post-employment benefits (Continued) Dana Pensiun tersebut dikelola oleh Dana

Pensiun Jakarta International Hotels & Development (DAPEN JIHD) yang pendiriannya telah disetujui oleh Menteri Keuangan Republik

Indonesia berdasarkan surat No. KEP-366/KM.17/2000 tanggal 2 Oktober

2000. Selama tahun 2008 dan 2007, iuran pensiun yang ditanggung oleh Perusahaan adalah sebesar 9%, sedangkan yang ditanggung oleh karyawan adalah sebesar 6%, masing-masing dari gaji pokok bulanan karyawan.

The pension fund is managed by Dana Pensiun Jakarta International Hotels & Development (DAPEN JIHD), which Deed of Establishment was approved by the Ministry of Finance of the Republic of Indonesia No. KEP-366/KM.17/2000 dated October 2, 2000. During 2008 and 2007, portion of contributions borne by the Company is 9% while portion of contributions borne by the employees is 6% of the employees’ gross monthly salaries.

Perhitungan aktuaria terakhir atas dana pensiun dan cadangan imbalan pasti pasca-kerja Perusahaan dilakukan oleh PT Prima Bhaksana Lestari aktuaris independen, tertanggal 7 Maret 2009.

The latest actuarial valuation upon the pension fund and the defined-benefit post-employment reserve of the Company was from PT Prima Bhaksana Lestari, an independent actuary, dated March 7, 2009.

Jumlah karyawan Perusahaan dan anak perusahaan yang berhak atas imbalan pasti pasca-kerja tersebut masing-masing sebanyak 1.713 karyawan pada tahun 2008 dan 852 karyawan pada tahun 2007.

Number of eligible employees of the Company and its subsidiaries is 1,713 employees in 2008 and 852 employees in 2007.

Rekonsiliasi jumlah nilai kini cadangan imbalan pasti pasca-kerja yang didanai dan tidak didanai pada neraca konsolidasi adalah sebagai berikut:

A reconciliation of the present value of the defined benefit reserve to the amount of defined-benefit post-employment reserve presented in the consolidated balance sheets is as follows:

2008 2007

Rp '000 Rp '000

Nilai kini cadangan imbalan pasti yang didanai 44.482.632 44.016.716 Present value of defined-benefit reserve Nilai wajar aset program (27.198.600) (30.127.239) Fair value of plan assets

17.284.032 13.889.477

Nilai kini cadangan imbalan pasti yang Present value of unfunded defined-benefit

tidak didanai 11.257.631 9.085.892 reserve

Keuntungan aktuarial yang tidak diakui 14.706.922 8.618.989 Unrecognized actuarial gains

Cadangan imbalan pasti pasca-kerja 43.248.585 31.594.358 Defined-benefit post-employment reserve Berikut adalah rincian beban imbalan pasti

pasca-kerja dan hasil aktual dari aset program:

Following are details of defined-benefit post-employment expense and actual return on plan assets:

2008 2007

Rp '000 Rp '000

Beban jasa kini 3.771.122 3.636.223 Current service costs

Beban bunga 5.487.333 5.599.476 Interest costs

Hasil keuntungan (kerugian) yang diharapkan

dari aset program 3.058.807 (2.253.594) Expected return (loss) on plan assets

Beban jasa lalu 1.570.815 - Past service cost

Keuntungan aktuarial bersih Recognized actuarial net gains

yang diakui pada tahun berjalan (255.038) (1.402.952) during the year

Mutasi cadangan imbalan pasti pasca-kerja adalah sebagai berikut:

Movements of defined-benefit post-employment reserve are as follows:

2008 2007

Rp '000 Rp '000

Cadangan imbalan pasti pasca-kerja Defined-benefit post-employment reserve

awal tahun 31.594.358 26.703.534 at beginning of the year

Beban imbalan pasti pasca-kerja tahun Defined-benefit post-employment expense

berjalan 13.633.039 5.579.153 during the year

Pembayaran selama tahun berjalan (1.978.812) (688.329) Payments made during the year

Cadangan imbalan pasti pasca-kerja Defined-benefit post-employment reserve at

akhir tahun 43.248.585 31.594.358 end of the year

Asumsi-asumsi aktuarial utama yang digunakan dalam perhitungan imbalan pasti pasca-kerja:

Principal actuarial assumptions used in valuation of the defined-post-employment benefit are as follows:

2008 2007

Tabel mortalita CSO 1958 modified ,TMI-2 CSO 1958 modified Mortality table

Usia pensiun normal 50 - 55 tahun 50 - 55 tahun Normal pension age

Tingkat diskonto per tahun 8,8% - 12,0% 10,0% - 10,5% Discount rate per annum

Tingkat kenaikan gaji per tahun 9,0% - 10,0% 6,0% - 10,0% Future salary increases per annum

40. Informasi Segmen 40. Segment Information

Informasi segmen tentang Perusahaan dan anak perusahaan pada tanggal 31 Desember 2008 dan 2007 dan untuk tahun-tahun yang berakhir pada tanggal tersebut adalah sebagai berikut:

The segment information of the Company and its subsidiaries as of December 31, 2008 and 2007, and for the years then ended is as follows:

Segmen Primer Primary Segment

Perusahaan dan anak perusahaan dikelola dan dikelompokkan dalam divisi usaha yang terdiri dari hotel, real estat, jasa telekomunikasi dan jasa manajemen perhotelan. Divisi usaha ini juga digunakan sebagai dasar pelaporan informasi segmen primer.

Segment information is presented based on the business of the Company and its subsidiaries, namely, hotel, real estate, telecommunications services and hotel management services. The business divisions are used as the basis of reporting primary segment information.

Informasi bentuk segmen primer yang berupa segmen usaha Perusahaan dan anak perusahaan adalah sebagai berikut:

The Company and its subsidiaries’ primary segment information is presented as follows:

2008 2008

Jasa Jasa Manajemen Telekomunikasi/ Perhotelan/

Hotel/ Real Estat/ Telecommunication Hotel Management Eliminasi/ Konsolidasi/ Hotel Real Estate Services Services Elimination Consolidated Rp '000 Rp '000 Rp '000 Rp '000 Rp '000 Rp '000

Pendapatan usaha 354.386.646 562.599.819 49.637.261 10.037.988 (6.567.862) 970.093.852 Revenues Hasil segmen 207.348.608 244.851.103 49.637.261 10.037.988 (6.567.862) 505.307.098 Segment results

Informasi Segmen Primer (Lanjutan) Primary Segment Information (Continued)

2008 (Lanjutan) 2008 (Continued)

Jasa Jasa Manajemen Telekomunikasi/ Perhotelan/

Hotel/ Real Estat/ Telecommunication Hotel Management Eliminasi/ Konsolidasi/ Hotel Real Estate Services Services Elimination Consolidated Rp '000 Rp '000 Rp '000 Rp '000 Rp '000 Rp '000

Laba (rugi) usaha 38.959.996 (6.849.721) 11.729.745 1.947.815 1.002.756 46.790.591 Income (loss) from operations

Pendapatan sewa dan Revenues from rental and estate

pengelolaan kawasan - 32.602.235 - - (1.002.756) 31.599.479 management Pendapatan bunga 1.461.123 722.008 1.266.508 218.534 - 3.668.173 Interest income

Beban bunga dan beban keuangan Interest expenses and other financial

lainnya (3.597.643) (94.789.073) (114.270) (2.025) - (98.503.011) charges

Bagian rugi bersih Equity in net loss

perusahaan asosiasi (77.938.095) (107.430.214) - - 185.360.042 (8.267) of an associated company Lain-lain - bersih 62.046.749 (218.550.993) (2.309.149) 145.661 - (158.667.732) Others - net

Laba (rugi) sebelum pajak 20.932.130 (394.295.758) 10.572.834 2.309.985 185.360.042 (175.120.767) Income (loss) before tax Beban pajak (15.876.357) (34.997.352) (2.466.184) (626.629) - (53.966.522) Tax expense Pos luar biasa 7.894.714 - - - - 7.894.714 Extraordinary item Laba sebelum hak

minoritas atas rugi bersih Income before minority

anak perusahaan 12.950.487 (429.293.110) 8.106.650 1.683.356 185.360.042 (221.192.575) interest in net loss of the subsidiaries

Hak minoritas atas rugi bersih Minority interest in

anak perusahaan - 93.818.181 - - 83.516.697 177.334.878 net loss of the subsidiaries Laba (rugi) bersih 12.950.487 (335.474.929) 8.106.650 - 268.876.739 (43.857.697) Net income (loss) Aset segmen 1.317.663.779 3.862.184.056 53.972.429 4.739.407 139.239.949 5.377.799.620 Segment assets Aset yang tidak dialokasikan 502.147 26.408.922 1.720.398 22.523 - 28.653.990 Unallocated assets Penyertaan saham 1.207.272.105 1.255.342.531 - - (2.382.023.903) 80.590.733 Investment in shares of stock Jumlah aset 2.525.438.031 5.143.935.509 55.692.827 4.761.930 (2.242.783.954) 5.487.044.343 Total assets

Kewajiban segmen 1.338.586.053 2.364.211.583 37.394.121 246.203 (44.861.427) 3.695.576.533 Segment liabilities Kewajiban yang tidak dialokasikan 6.677.670 11.496.247 2.579.436 301.862 - 21.055.215 Unallocated liabilities Jumlah Kewajiban 1.345.263.723 2.375.707.830 39.973.557 548.065 (44.861.427) 3.716.631.748 Total liabilities

2007 2007

Jasa Jasa Manajemen Telekomunikasi/ Perhotelan/

Hotel/ Real Estat/ Telecommunication Hotel Management Eliminasi/ Konsolidasi/ Hotel Real Estate Services Services Elimination Consolidated Rp '000 Rp '000 Rp '000 Rp '000 Rp '000 Rp '000

Pendapatan usaha 187.341.411 266.331.271 29.505.349 8.546.586 (6.070.796) 485.653.821 Revenues Hasil segmen 109.801.572 32.666.399 29.505.349 8.546.586 (6.070.796) 174.449.110 Segment result Laba (rugi) usaha (14.256.645) (47.967.745) (3.568.694) 1.722.120 - (64.070.964) Income (loss) from operations

Pendapatan sewa dan Revenues from rental and estate

pengelolaan kawasan 30.239.745 (443.189) 29.796.556 management Pendapatan bunga 978.823 227.967 946.211 77.843 - 2.230.844 Interest income Beban bunga (6.984.322) (108.953.540) (57.874) (1.238) - (115.996.974) Interest expenses

Bagian rugi bersih Equity in net loss

perusahaan asosiasi (60.949.696) - - - 60.949.696 - of associated company Lain-lain - bersih (142.144.824) (70.099.248) (215.806) 5.777 (212.454.101) Others - net Laba (rugi) sebelum pajak (223.356.664) (196.552.821) (2.896.163) 1.804.502 60.506.507 (360.494.639) Income (loss) before tax Beban (penghasilan) pajak 5.434.823 (6.094.369) 841.774 (577.756) - (395.528) Tax expense

Laba (rugi) sebelum laba pra-akuisisi Income (loss) before pre-acquisition

anak perusahaan dan hak minoritas income of a subsidiary and minority

atas rugi bersih anak perusahaan (217.921.841) (202.647.190) (2.054.389) 1.226.746 60.506.507 (360.890.167) interest in net loss of the subsidiaries Laba pra-akuisisi anak perusahaan - (354.376) - - - (354.376) Pre-aqcuisition income of a subsidiary

Hak minoritas atas rugi bersih Minority interest in

anak perusahaan - 129.076.144 - - 13.135.493 142.211.637 net loss of the subsidiaries Laba (rugi) bersih (217.921.841) (73.925.422) (2.054.389) 1.226.746 73.642.000 (219.032.906) Net income (loss) Aset segmen 1.213.120.488 3.695.767.045 27.461.718 4.410.831 (21.670.544) 4.919.089.538 Segment assets Aset yang tidak dialokasikan 7.220.629 102.814.837 1.217.507 - - 111.252.973 Unallocated assets

Penyertaan saham dalam Investments in shares of

perusahaan asosiasi 1.287.510.201 5.000.000 - - (1.241.910.201) 50.600.000 stock of associated companies Jumlah Aset 2.507.851.318 3.803.581.882 28.679.225 4.410.831 (1.263.580.745) 5.080.942.511 Total assets Kewajiban segmen 1.281.667.584 1.779.821.628 19.562.350 1.126.185 (5.587.175) 3.076.590.572 Segment liabilities Kewajiban yang tidak dialokasikan 5.398.477 6.413.733 480.719 254.136 12.547.065 Unallocated liabilities Jumlah kewajiban 1.287.066.061 1.786.235.361 20.043.069 1.380.321 (5.587.175) 3.089.137.637 Total liabilities

Segmen Sekunder Secondary Segment

Bentuk sekunder pelaporan segmen Perusahaan dan anak perusahaan adalah segmen geografis yang ditentukan berdasarkan lokasi aset atau operasi Perusahaan dan anak perusahaan

The secondary segment information of the Company and its subsidiaries is presented based on geographical segment which is determined based on the assets’ location or location of business operations.

Informasi bentuk segmen sekunder Perusahaan dan anak perusahaan adalah sebagai berikut:

The Company and its subsidiaries’ secondary segment information is presented as follows:

2008 2007

Rp '000 Rp '000

Pendapatan Usaha Revenues

Kawasan Niaga Terpadu Sudirman 782.796.381 305.212.661 Sudirman Central Business District Di luar Kawasan Niaga Terpadu Sudirman 193.865.333 186.511.956 Outside Sudirman Central Business District Jumlah sebelum eliminasi 976.661.714 491.724.617 Total before elimination

Eliminasi (6.567.862) (6.070.796) Elimination

Pendapatan Usaha Konsolidasi 970.093.852 485.653.821 Consolidated Revenues

Nilai Aset Segmen *) Carrying value of Segment Assets *)

Kawasan Niaga Terpadu Sudirman 7.548.138.288 3.723.228.762 Sudirman Central Business District Di luar Kawasan Niaga Terpadu Sudirman 72.445.286 2.459.441.521 Outside Sudirman Central Business District Jumlah sebelum eliminasi 7.620.583.574 6.182.670.283 Total before elimination

Eliminasi (2.242.783.954) (1.263.580.745) Elimination

Aset Segmen Konsolidasi 5.377.799.620 4.919.089.538 Consolidated Segment Assets *) tidak termasuk pajak dibayar dimuka, penyertaan saham pada perusahaan assosiasi dan aset pajak tangguhan/

exclude prepaid taxes, investment in associates and deferred tax assets

41. Kelangsungan Usaha 41. Going Concern

Pada tanggal 31 Desember 2008, Perusahaan memiliki saldo defisit sebesar Rp 534.574.110 ribu yang terutama berasal dari akumulasi kerugian atas kurs mata uang asing pada saat terjadinya krisis moneter tahun 1998. Perusahaan juga mencatat rugi bersih pada tahun 2008 sebesar Rp 43.857.697 ribu. Sampai tanggal 31 Desember 2008 Perusahaan belum dapat melunasi hutang bank (Catatan 16) yang telah jatuh tempo pada tahun 2007.

As of December 31, 2008 the Company has deficit amounting to Rp 534,574,110 thousand which was mainly caused by accumulated losses on loss on foreign exchange due to monetary crisis in 1998. The Company also recorded net loss in 2008 amounting to Rp 43,857,697 thousand. As of December 31, 2008, the Company has been unable to pay bank loan (Note 16) which has already matured in 2007.

Untuk menghadapi kondisi tersebut di atas dan kondisi ekonomi yang memburuk sebagaimana diungkapkan pada Catatan 42, Perusahaan dan anak perusahaan akan melakukan langkah-langkah sebagai berikut:

In response to the above economic conditions, and to deal with the adverse economic situation as described in Note 42 the Company and its subsidiaries will implement the following measures:

a. Tetap melanjutkan Program

Pengembangan Usaha antara lain, pembangunan gedung perkantoran strata title di Lot 9 yang akan selesai pada bulan Maret 2010 dan di Lot 18 yang akan selesai pada bulan Desember 2009.

a. To continue the Business Development Program such as development of strata title office building located at Lot 9 which will be completed in March 2010 and at Lot 18 which will be completed in December 2009.

b. Melakukan negosiasi mengenai Program Restrukturisasi Keuangan dengan para kreditur atas pinjaman yang telah jatuh tempo.

b. To negotiate the Financial Restructuring Program with the creditors on the overdue bank loan.

c. Mengundang investor baru untuk memberikan pendanaan dan berpartisipasi dalam modal agar pembangunan proyek yang telah direncanakan dapat segera dimulai dan berjalan sesuai dengan rencana.

c. To invite new investors to refinance and

form equity participation so that the planned property development could be resumed and continue as scheduled.

d. Melakukan program penghematan biaya dalam segala bidang.

d. Implementation of cost-cutting program in

every aspects. Manajemen berpendapat bahwa

langkah-langkah tersebut diatas dapat dilaksanakan dan memungkinkan Perusahaan dan anak perusahaan untuk merealisasikan aset dan menyelesaikan kewajiban yang telah jatuh tempo.

The management believes that the above plans are achievable and will allow the Company and its subsidiaries to meet their obligations as they fall due and to realize their assets.

42. Kondisi Ekonomi Indonesia Akibat Krisis

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