melakukan lindung nilai arus kas atas perkiraan transaksi-transaksi pembelian bahan bakar untuk keperluan operasi peralatan tambang dan batubara dengan menggunakan instrumen keuangan derivatif (Catatan 34). Lindung nilai ini dilakukan untuk mengelola risiko fluktuasi harga bahan bakar dan/atau batubara yang mungkin terjadi akibat
In 2017 and 2016, the Group entered into cash flow hedges for forecasted transactions of fuel purchases for operating of mining equipment and coal using derivative financial instruments (Note 34). These hedging transactions were entered into to manage the risk of fluctuations in fuel prices and/or coal that may occur as a result of forcasted fuel purchase and coal sales transactions, respectively.
86
(lanjutan) (continued)
Hasil pengujian efektivitas lindung nilai arus kas di atas secara prospektif dan retrospektif terbukti sangat efektif. Sehingga, selisih harga yang timbul dari instrumen lindung nilai derivatif tersebut diakui dalam akun “kerugian kumulatif atas instrumen derivatif untuk lindung nilai arus kas” sebagai bagian ekuitas. Selisih harga tersebut masing- masing akan diakui sebagai bagian dari harga perolehan bahan bakar dan batubara yang dilindung nilai. Jumlah selisih harga bahan bakar dicatat di
dalam akun “Keuntungan (Kerugian) Kumulatif Atas
Instrumen Derivatif Untuk Lindung Nilai Arus Kas” dengan saldo AS$1.071.455 - Keuntungan pada tanggal 31 maret 2017 dan AS$44.189 - Keuntungan pada tanggal 31 Maret 2016.
The results of prospective and retrospective test of the hedge effectiveness of the above mentioned cash flows hedge were proven to be highly effective. As a result, the differences arising from the derivative hedging instruments are recognized in "cumulative losses on derivative instruments for cash flows hedges" account under the equity. These price differences will be recognized as part of acquisition costs of the fuel and coal being hedged, respectively. Total price differences recognized under "Cumulative Gain (Losses) On Derivative Instruments For Cash Flow Hedges" which were account for US$1,071,455 - Gain as of March 31, 2017 and US$44,189 - Gain as of March 31, 2016.
28. KEPENTINGAN NON-PENGENDALI 28. NON-CONTROLLING INTERESTS
Mutasi kepentingan non-pengendali untuk masing- masing tahun pelaporan adalah sebagai berikut:
Movement of non-controlling interest during the respective reporting years are as follows:
31 Maret/March 31, 2017
Pendapatan
komprehensif Saldo lain/ Bagian atas Bagian atas Saldo 1 Jan 2016/ Other laba/(rugi) neto/ dividen/ 31 Des 2016/
Balance Penambahan/ comprehensive Share in net Share in Balance Jan 1, 2016 Addition income profit/(loss) dividend Dec 31, 2016
ABN 28.967.548 - 1.423.901 4.343.472 (4.900.000) 29.834.921 ABN TBE 821 - - 19 - 840 TBE TMU 28.361 - - 75 - 28.436 TMU PKU (1.216.261 ) - (74.005) (116.524) - (1.406.790) PKU GLP (27.335 ) - - (57.255) - (84.590) GLP
Toba Energi - 80.000 - - - 80.000 Toba Energi
Total 27.753.134 80.000 1.349.896 4.169.787 (4.900.000) 28.452.817 Total 31 Desember/December 31, 2016 Pendapatan komprehensif Saldo lain/ Bagian atas Bagian atas Saldo 1 Jan 2016/ Other laba/(rugi) neto/ dividen/ 31 Des 2016/
Balance Penambahan/ comprehensive Share in net Share in Balance Jan 1, 2016 Addition income profit/(loss) dividend Dec 31, 2016
ABN 34.168.539 - (4.217.340) 12.459.499 (13.443.150) 28.967.548 ABN TBE 887 - - (66) - 821 TBE TMU 28.184 - - 177 - 28.361 TMU PKU (688.332) - 34.182 (562.111) - (1.216.261) PKU GLP - 80.000 - (107.335) - (27.335) GLP Total 33.509.278 80.000 (4.183.158) 11.790.164 (13.443.150) 27.753.134 Total
Kelompok usaha memiliki kepentingan non- pengendali material di ABN, yaitu sebesar 49%. Sebelum eliminasi antar perusahaan, total aset ABN pada tanggal 31 Maret 2017 adalah AS$99.727.469, total liabilitas adalah
AS$38.837.845, total ekuitas adalah
AS$60.889.624 dan total penjualan sebesar AS$40.212.447 untuk periode yang berakhir 31 Maret 2017.
The group has material non-controlling interest in ABN, i.e. 49%. As at March 31, 2017, before intercompany eliminations, ABN has total assets of US$99,727,469, total liabilities of US$38,837,845, total equity of US$60,889,624 and total revenues of US$40,212,447 for period ended March 31, 2017.
29. PENJUALAN 29. SALES
2017 2016
(tiga bulan/ (tiga bulan/
three months) three months)
Pihak ketiga Third parties
Luar negeri 62.259.408 63.029.861 Export
Lokal 419.288 179.580 Local
Pihak berelasi Related parties
Lokal - 356.068 Local
Total 62.678.696 63.565.509 Total
Rincian pelanggan dengan nilai penjualan melebihi 10% dari total penjualan adalah sebagai berikut:
The details of customers with sales of more than 10% from the total sales are as follows:
2017 2016
(tiga bulan / (tiga bulan/
three months) three months)
Total: Total:
Avra Commodities Pte., Ltd 24.009.570 4.907.934 Avra Commodities Pte., Ltd
KCH Energy 10.789.569 5.789.127 KCH Energy
Glencore International AG 8.073.908 7.727.817 Glencore International AG
Trifagura Pte., Ltd 6.824.212 325.360 Trifagura Pte., Ltd
Caravel Carbons Limited - 7.425.652 Caravel Carbons Limited
Sub-total 49.697.259 26.175.890 Sub-total
Persentase: Percentage:
Avra Commodities Pte., Ltd 38% 8% Avra Commodities Pte., Ltd
KCH Energy 17% 9% KCH Energy
Glencore International AG 13% 12% Glencore International AG
Trifagura Pte., Ltd 11% 1% Trifagura Pte., Ltd
Caravel Carbons Limited - 12% Caravel Carbons Limited
Persentase terhadap Percentage from the
total penjualan 79% 42% total sales
88
2017 2016
(tiga bulan / (tiga bulan/
three months) three months)
Biaya produksi: Production costs:
Pengupasan tanah 30.926.684 35.330.659 Overburden removal
Pengangkutan dan
penambangan batubara 2.299.902 2.453.777 Coal extraction and coal hauling
Penyusutan (Catatan 10) 1.389.066 1.217.134 Depreciation (Note 10)
Gaji, upah dan Salaries, wages and
tunjangan karyawan 1.150.185 1.154.587 employee allowance
Sewa mesin, peralatan Machineries, equipment and
dan kendaraan 995.602 626.787 vehicle rental
Amortisasi aset Amortization of mine
pertambangan (Catatan 12) 844.100 967.626 properties (Note 12)
Perawatan dan pemeliharaan 512.339 1.046.167 Repairs and maintenances
Pengelolaan dan reklamasi Environmental and
lingkungan hidup dan penutupan reclamation costs and mine
tambang 172.198 147.997 closure
Pemindahan lumpur 141.320 - Mud removal
Lain-lain 617.362 2.332.026 Others
Total biaya produksi 39.048.758 45.276.760 Total production costs
Royalti (Catatan 42a) 3.577.226 3.293.268 Royalty (Note 42a)
Pengangkutan dan crane 2.216.952 3.294.706 Barging and crane
Barang dalam proses: Work- in- process:
Batubara baku Raw Coal
Awal periode 9.480.553 6.150.169 Beginning of period
Akhir periode (Catatan 6) (12.230.708) (8.416.588) End of period (Note 6)
Barang jadi: Finished Goods:
Batubara industri Industrial Coal
Awal tahun 5.309.728 14.509.144 Beginning of year
Akhir tahun (Catatan 6) (4.846.061) (14.822.316) End of year (Note 6)
Beban pokok penjualan 42.556.448 49.285.143 Cost of goods sold
Beban pokok penjualan tersebut diatas termasuk beban pokok penjualan PKU atas tandan buah segar, palm kernel dan Crude Palm Oil (CPO) untuk tahun yang berakhir pada tanggal 31 Maret 2017 sebesar AS$314.217 (2016: AS$274.425 untuk tandan buah segar).
The above cost of goods sold include cost of good sold of PKU which consists of fresh fruit bunch, palm kernel and Crude Palm Oil (CPO) for the year ended March 31, 2017 amounting to US$314,217 (2016: US$274,425 for fresh fruit bunch).
Pembelian barang dan jasa dari pemasok yang nilainya secara individual melebihi 10% dari total penjualan adalah sebagai berikut:
Purchases of materials and services from third parties which individually exceed 10% of total sales are as follows:
2017 2016
(tiga bulan / (tiga bulan/
three months) three months)
PT Cipta Kridatama 27.050.126 29.877.991 PT Cipta Kridatama
Total 27.050.126 29.877.991 Total
2017 2016
(tiga bulan / (tiga bulan/
three months) three months)
Gaji, upah, bonus dan Salaries, wages, bonuses,
kesejahteraan karyawan 2.789.354 2.685.279 and employee benefits
Program tanggung jawab sosial Corporate social responsibility
dan lingkungan perusahaan 1.032.153 1.092.012 and environment program
Perlengkapan dan peralatan kantor 318.594 348.220 Office supplies and utilities
Sewa kantor dan kendaraan 213.874 233.049 Office and vehicle rent
Jasa profesional 206.981 34.268 Professional fees
Penyusutan (Catatan 10) 176.048 237.555 Depreciation (Note 10)
Perjalanan dinas 135.591 112.213 Business travel
Representasi dan jamuan 64.446 73.286 Representation and entertainment
Pajak Bumi dan Bangunan 23.056 25.828 Land and building tax
Biaya pajak 20.193 6.349 Tax expenses
Lain-lain 412.411 333.606 Others
Total beban umum Total general and administrative
dan administrasi 5.392.701 5.181.665 expenses
32. BEBAN PENJUALAN DAN PEMASARAN 32. SELLING AND MARKETING EXPENSES
2017 2016
(tiga bulan / (tiga bulan/
three months) three months)
Komisi - 171.306 Commission
Lain-lain 24.718 20.285 Others
Total beban penjualan Total selling
dan pemasaran 24.718 191.591 and marketing expenses
33. (PENDAPATAN) BEBAN LAIN-LAIN - NETO 33. OTHER (INCOME) EXPENSES - NET
2017 2016
(tiga bulan / (tiga bulan/
three months) three months)
Beban (Pendapatan) atas Expense (Income) from
selisih waktu berlabuh, neto 29.700 (39.092) dispacth and demurage, net
Kerugian penjualan dan penghapusan Loss on sale and write-off of
Aset tetap (Catatan 10) 15.876 38.744 fixed assets (Note 10)
Lain-lain (314.924) 627.372 Others
Neto (269.348) 627.024 Net
90 Kelompok Usaha menghadapi risiko kerugian yang dapat timbul dari fluktuasi harga jual batu bara dan/atau harga beli bahan bakar dan menggunakan instrumen keuangan derivatif untuk mengurangi risiko tersebut.
The Group faces exposures on risk of losses arising from the fluctuations in the selling price of coal and/or purchase price of fuel and manages to reduce the risks by entering into financial derivative instruments.
Berdasarkan perkiraaan kebutuhan komoditas bahan bakar untuk 12 bulan ke depan, Kelompok Usaha melakukan lindung nilai menggunakan transaksi swap atas perjanjian pembelian komoditas tersebut. Transaksi swap komoditas bahan bakar tidak dihasilkan dari penyerahan komoditas bahan bakar secara fisik, melainkan ditujukan sebagai lindung nilai arus kas untuk saling hapus atas efek perubahan komoditas bahan bakar.
Based on the forecast of the required gas oil supply for the next 12 months, the Group hedges the purchase price using swap transaction on commodity purchase contract. The swap contracts transaction do not result in physical delivery of gas oil commodities, but are designated as cash flow hedges to offset the effect of price changes in gas oil commodities.
Kelompok Usaha juga menghadapi risiko kerugian yang dapat timbul dari fluktuasi tingkat bunga pasar sehubungan dengan bunga atas pinjaman bank sindikasi dan menggunakan instrumen keuangan derivatif untuk mengurangi risiko tersebut.
The Group faces exposures on risk of losses arising from the fluctuations in the market interest rates in relation to interest on syndicated loan and manages to reduce the risks by entering into financial derivative instruments.
Berikut ini adalah kontrak instrumen keuangan derivatif yang dimiliki Kelompok Usaha untuk periode yang berakhir pada tanggal-tanggal 31 Maret 2017 dan 31 Desember 2016:
The following is the Group‘s contracts derivative
financial instruments for the period ended March 31, 2017 and December 31, 2016:
i. Suku Bunga Cap a. i. Interest Rate Cap
Dalam tahun 2014, Perusahaan menandatangani perjanjian dengan BNP Paribas sehubungan dengan transaksi swap bunga dengan rincian sebagai berikut:
In 2014, the Company has entered into agreement with BNP Paribas in relation to the interes rate swap contract transactions, which is as follow:
Pihak lawan/Counterparty: BNP Paribas
TBS membayar
Tanggal Tanggal Nilai Bunga atau menerima
efektif/ Terminasi/ nosional/ tetap/ bunga tetap/
Effective Termination Notional Fixed TBS pays or receives
date date amount interest fixed interest Referensi bunga/Interest reference
30 September 2014/ 30 Maret 2018/ 35.000.000/ 577.500/ Membayar/ USD-LIBOR-BBA
September 30, 2014 March 30, 2018 35,000,000 577,500 Pay
Perubahan nilai wajar kontrak tersebut di atas pada tanggal 31 Maret 2017 adalah sebesar AS$83.589 dan 31 Desember 2016 adalah sebesar AS$85.529. Kontrak ini tidak diklasifikasikan sebagai akuntansi lindung nilai.
The change in fair value of the above contract as at March 31, 2017 is amounting to US$83,589 and December 31, 2016 is amounting to US$85,529. This hedge is not classified as hedge accounting.
ii. Swap Komoditas ii. Commodities Swap (continued) a. Kontrak transaksi TBS untuk swap komoditas
bahan bakar pada tanggal 31 Maret 2017 dan 31 Desember 2016 untuk keperluan kegiatan operasional tambang IM dan TMU adalah sebagai berikut:
a. The swap contracts transaction of TBS for gas oil commodities as of March 31, 2017 and December 31, 2016 for the purpose of mining operations of IM and TMU, which is as follow:
Fuel Swap Contract
Jumlah
kuantitas TBS membayar
Pihak Jumlah nosional/ Harga atau menerima
lawan/ Kontrak/ Total tetap/ harga tetap/
No./ Counter Total notional Fixed TBS pays or Tanggal Terminasi/
No. party Contract quantity price receives fixed price Termination date
1. Engie Global Markets 8/ 87.600/ 50,15 - 62,5/ Membayar/ 1 Januari 2017 - 29 December 2017/
8 87,600 50.15- 62.5 Pay January 1, 2017 - December 29, 2017
Semua kontrak diatas berdasarkan harga pada GAS OIL-0.05 SINGAPORE-PLATTS ASIA PACIFIC
The above contracts are based on the price of GAS OIL-0.05 SINGAPORE-PLATTS ASIA PACIFIC
b. Kontrak transaksi swap komoditas ABN pada tanggal 31 Maret 2017 dan 31 Desember 2016 adalah sebagai berikut:
b. The swap contracts transaction of ABN for commodities as of March 31, 2017 and December 31, 2016 are as follows:
Coal Swap Contracts
Jumlah
kuantitas ABN membayar
Pihak Jumlah nosional/ Harga atau menerima
lawan/ Kontrak/ Total tetap/ harga tetap/
No./ Counter Total notional Fixed ABN pays or Tanggal Terminasi/
No. party Contract quantity price receives fixed price Termination date
1. Standard Chartered Bank 3/ 775.400/ 62,18 - 67,59/ Menerima/ 31 Januari 2017 - 31 December 2017/
3 775,400 62.18- 67.59 Receive January 31, 2017 - December 31, 2017
2. Engie Global Markets 5/ 275.000/ 76,75-96,5/ Menerima/ 31 Januari 2017 – 30 Nopember 2017/
5 275,000 76.75-96.5 Receive January 31, 2017 - November 30, 2017
Semua kontrak diatas berdasarkan harga pada GLOBAL COAL NEWCASTLE INDEX.
The above contracts are based on the price of GLOBAL COAL NEWCASTLE INDEX.
Fuel Swap Contracts
Jumlah
kuantitas ABN membayar
Pihak Jumlah nosional/ Harga atau menerima
lawan/ Kontrak/ Total tetap/ harga tetap/
No./ Counter Total notional Fixed ABN pays or Tanggal Terminasi/
No. party Contract quantity price receives fixed price Termination date
1. Standard Chartered Bank 4/ 540.000/ 51,5-58/ Membayar/ 31 January 2017 – 30 Juni 2018/
4 540,000 51.5-58 Pay January 31, 2017 – June 30, 2018
2. Engie Global Markets 1/ 90.000/ 59/ Membayar/ 31 Januari 2017 - 31 Desember 2017/
1 90,000 59 Pay January 31, 2017 - December 31, 2017
3. Engie Global Markets 1/ 120.000/ 58,5/ Membayar/ 31 Desember 2018/
1 120,000 58.5 Pay December 31, 2018
4. Engie Global Markets 1/ 120.000/ 63/ Menerima/ 31 Desember 2017/
1 120,000 63 Receive December 31, 2017
92
2016 (lanjutan) 2016 (continued)
ii. Swap Komoditas (lanjutan) ii. Commodities Swap (continued)
Perjanjian swap komoditas diukur pada nilai wajar melalui penghasilan komprehensif lain ditetapkan sebagai instrumen lindung nilai arus kas atas perkiraan pembelian bahan bakar dan/atau penjualan batubara. Perkiraan transaksi ini sangat mungkin terjadi dan merupakan 99% dari total perkiraan pembelian bahan bakar dan 31% dari total komitmen penjualan batubara Perusahaan.
Commodities swap contracts measured at fair value through other comprehensive income are designated as hedging instruments in cash flow hedges of forecast fuel purchase and/or sales of coal. These forecast transactions are highly probable, and they comprise about 99% and 31%
of the Company’s total expected purchase of gas
oil and coal sales commitment, respectively. Ketentuan perjanjian swap tersebut sesuai
ketentuan transaksi swap yang memiliki tingkat probabilitas yang sangat memungkinkan. Lindung nilai arus kas atas estimasi pembelian bahan bakar dan/atau penjualan batubara tahun 2017 diperkirakan akan sangat efektif.
The terms of the swap contracts match the terms of the expected highly probable forecast transactions. The cash flow hedges of the expected future fuel purchased and/or sales of coal in 2017 are expected to be highly effective.
Pergerakan nilai wajar instrumen lindung nilai TBS yang ditetapkan sebagai lindung nilai arus kas untuk periode yang berakhir pada tanggal 31 Maret 2017 adalah sebesar AS$224.283 - penghasilan, yang disajikan dalam piutang derivatif.
Fair value movements of hedging instruments of TBS designated on cash flow hedges for the period ended March 31, 2017 amounting to US$224,283 - an income, was presented in derivative receivables.
Pergerakan neto nilai wajar instrument lindung nilai ABN yang ditetapkan sebagai lindung nilai arus kas untuk periode yang berakhir pada tanggal 31 Maret 2017 adalah sebesar AS$9.789.883 - kerugian, yang dilaporkan pada laporan posisi keuangan konsolidasian tanggal 31 Maret 2017 sebagai piutang derivatif dan utang derivatif masing-masing sebesar AS$1.002.422 dan AS$10.792.305.
Fair values net movements of hedging instruments of ABN designated on cash flow hedges for the years ended March 31, 2017 amounting to US$9,789,883 - a loss, which is reported in the consolidated statement of financial position as of March 31, 2017 as derivative receivables and derivative payables amounting to US$1,002,422 and US$10,792,305, respectively.
Perjanjian sehubungan dengan kontrak derivatif di atas sesuai dengan ISDA Master Agreement 2005 dan tidak ada persyaratan tambahan penting lainnya.
The agreements on the above derivative contracts are based on ISDA Master Agreement 2005 and no other additional significant conditions.
BALANCES