PT Golden Energy Mines Tbk dan Entitas Anaknya/and its Subsidiaries

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Daftar Isi Table of Contents

Halaman/

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Laporan atas Reviu Informasi keuangan Interim Report on Review of interim Financial Information

Laporan Posisi Keuangan Konsolidasian Interim 1-2 Interim Consolidated Statement of Financial Position

Laporan Laba Rugi Komprehensif Konsolidasian Interim 3 Interim Consolidated Statement of Comprehensive Income

Laporan Perubahan Ekuitas Konsolidasian Interim 4 Interim Consolidated Statement of Changes in Equity

Laporan Arus Kas Konsolidasian Interim 5 Interim Consolidated Statement of Cash Flows

Catatan Atas Laporan Keuangan Konsolidasian Interim 6-126 Notes to the Interim Consolidated Financial statements

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ASET LANCAR CURRENT ASSETS

Kas dan setara kas 2d,2e,2g,2i,3,5,17,31,32 621.789.541.682 780.999.288.709 951.348.181.514 Cash and cash equivalents

Piutang usaha, setelah dikurangi 2d,2i,3,6,13,17,32 Trade receivables, net of allowance

penyisihan atas penurunan nilai piutang usaha for impairment of trade receivables

sebesar Rp109.596.317 pada tanggal 31 Maret 2014, Rp109,596,317 as of March 31, 2014, and

dan Rp86.406.567 masing-masing pada tanggal Rp86,406,567 as of December 31, 2013 and 2012,

31 Desember 2013 dan 2012 respectively

Pihak berelasi 2e,31 379.566.445.516 533.883.844.600 310.868.597.812 Related parties

Pihak ketiga 13 403.552.930.614 183.284.942.159 211.432.791.461 Third parties

Piutang lain-lain - pihak ketiga 2i,3,17,32,33 9.965.553.941 6.205.528.367 11.658.627.561 Other receivables - third parties

Persediaan, neto 2j,2p,7,13 131.691.859.411 148.445.755.562 80.958.632.726 Inventories, net

Pajak dibayar di muka 11.594.120.864 - 1.134.074 Prepaid taxes

Biaya dibayar di muka dan aset lancar lainnya 2e,2k,8,31,33 244.791.532.203 209.147.196.888 207.682.702.974 Prepaid expenses and other current assets

Jumlah Aset Lancar 1.802.951.984.231 1.861.966.556.285 1.773.950.668.122 Total Current Assets

ASET TIDAK LANCAR NON-CURRENT ASSETS

Piutang lain-lain 2i,3,17,32 Other receivables

Pihak ketiga 33 - 4.057.560.166 5.425.530.807 Third parties Aset pajak tangguhan, neto 2t,3,15,37 49.182.250.581 52.297.033.311 48.658.443.271 Deferred tax assets, net Investasi saham 2i,3,12,17,19,31,32 168.348.395 168.348.395 305.065.720 Investment in shares of stock

Aset tetap, setelah dikurangi Property and equipment, net of

akumulasi penyusutan sebesar Rp97.830.275.546, accumulated depreciation of Rp97,830,275,546,

Rp90.810.591.518 dan Rp41.458.244.729 Rp90,810,591,518 and Rp41,458,244,729

masing-masing pada tanggal 31 Maret 2014, as of March 31, 2014, December 31, 2013 and

31 Desember 2013 dan 2012 2e,2l,2m,2p,3,9,23,24,31 661.910.202.111 694.183.880.714 550.663.491.903 2012, respectively Aset pertambangan, neto 1d,2e,2n,2p,3,10,19,22,27,31,37 982.207.295.362 996.325.676.223 828.709.308.615 Mine properties, net

Goodwill 2o,2p,3,28 8.703.582.324 8.703.582.324 8.703.582.324 Goodwill

Dana yang dibatasi pencairannya 2e,2h,2i,3,17,31,32,33 15.826.989.004 10.099.954.915 6.760.587.124 Restricted funds Aset tidak lancar lain-lain 2d,2e,2i,2o,3,11,15,17,22,24,31,32,33 343.954.026.192 359.247.049.646 130.739.933.805 Other non-current assets

Jumlah Aset Tidak Lancar 2.068.620.268.068 2.131.702.425.896 1.587.191.681.966 Total Non-current Assets

JUMLAH ASET 3.871.572.252.299 3.993.668.982.181 3.361.142.350.088 TOTAL ASSETS

The accompanying notes to the interim consolidated financial statements Catatan atas laporan keuangan konsolidasian interim terlampir merupakan bagian

yang tidak terpisahkan dari laporan keuangan konsolidasian interim secara keseluruhan.

form an integral part of these interim consolidated financial statements taken as a whole.

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Utang usaha 2d,2i,3,14,17,32 Trade payables

Pihak ketiga 502.128.994.328 424.107.588.529 282.307.268.337 Third parties

Utang lain-lain - pihak ketiga 2d,2i,3,17,32,33 236.433.809.740 414.828.197.540 116.051.061.763 Other payables - third parties Utang pajak 2t,11,15 26.529.210.190 20.688.503.129 40.422.390.607 Taxes payable Beban akrual 2d,2e,2i,3,16,17,31,32,33 69.908.436.922 79.364.090.523 61.255.133.881 Accrued expenses

Uang muka pelanggan - pihak ketiga 2d,32 3.412.647.000 13.518.852.445 1.640.273.750 Advances from customers - third parties

Jumlah Liabilitas Jangka Pendek 901.217.404.910 1.015.810.673.088 506.386.611.524 Total Current Liabilities

LIABILITAS JANGKA PANJANG NON-CURRENT LIABILITIES

Utang lain-lain - pihak berelasi 2e,2i,3 - - 148.750 Other payables - related party

Liabilitas imbalan kerja, neto 2r,3,24,26 28.181.801.999 26.891.436.000 24.570.976.000 Employee benefits liability, net

Liabilitas jangka panjang lainnya 2v 10.233.927.818 10.715.911.698 7.907.479.258 Other non-current liabilities

Jumlah Liabilitas Jangka Panjang 38.415.729.817 37.607.347.698 32.478.604.008 Total Non-current Liabilities

JUMLAH LIABILITAS 939.633.134.727 1.053.418.020.786 538.865.215.532 TOTAL LIABILITIES

EKUITAS EQUITY

Ekuitas yang Dapat Diatribusikan Equity Attributable to Owners

kepada Pemilik Entitas Induk of the Parent

Modal saham - nilai nominal Rp100 per saham Capital stock - Rp 100 par value

Modal dasar - 20.000.000.000 saham Authorized - 20,000,000,000 shares

Modal ditempatkan dan disetor penuh - Issued and paid up - 5,882,353,000

5.882.353.000 saham pada tanggal shares as of March 31, 2014,

31 Maret 2014, 31 Desember 2013 dan 2012 18 588.235.300.000 588.235.300.000 588.235.300.000 December 31, 2013 and 2012

Tambahan modal disetor, neto 2c,2s,10,12,19 2.062.587.414.338 2.062.587.414.338 2.062.705.870.831 Additional paid-in capital, net Difference arising from transaction with Selisih transaksi dengan pihak nonpengendali 4,37 13.608.448.824 13.608.448.824 13.608.448.824 non-controlling interests

Saldo laba Retained earnings

Dicadangkan 29 2.000.000.000 2.000.000.000 1.000.000.000 Appropriated Belum dicadangkan 37 204.981.925.687 185.225.922.439 144.931.950.829 Unappropriated Pendapatan komprehensif lainnya 1g,1h,37 54.745.738.667 82.191.902.336 7.171.205.748 Other comprehensive income

Jumlah Ekuitas yang Dapat Diatribusikan Total Equity Attributable to Owners

Kepada Pemilik Entitas Induk 2.926.158.827.516 2.933.848.987.937 2.817.652.776.232 of the Parent

Kepentingan nonpengendali 2b,20,37 5.780.290.056 6.401.973.458 4.624.358.324 Non-controlling Interests

JUMLAH EKUITAS 2.931.939.117.572 2.940.250.961.395 2.822.277.134.556 TOTAL EQUITY

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PENJUALAN NETO 1.446.327.024.703 2d,2e,2q,21,31 878.375.868.475 NET SALES

BEBAN POKOK PENJUALAN 1.164.106.441.837 2d,2e,2q,10,22,31,33,37 644.122.348.615 COST OF SALES

LABA BRUTO 282.220.582.866 234.253.519.860 GROSS PROFIT Beban penjualan (91.922.099.595) 2q,9,23 (77.856.154.168) Selling expenses

Beban umum dan administrasi (103.894.343.336) 2e,2q,2r,9,11,24,26,31,33 (78.833.971.125) General and administrative expenses Beban eksplorasi (196.099.780) 2q (630.839.172) Exploration expense

Pendapatan bunga 10.101.230.900 2e,2q,31 11.773.129.170 Interest Income Beban administrasi bank (759.092.244) 2q (526.329.580) Bank administration charges Beban bunga dan keuangan lainnya (13.622.036.504) 2q,13,25 (612.608.048) Interest and other financial charges Keuntungan (kerugian) selisih kurs, neto (47.862.577.023) 2d,2q 2.348.223.114 Gain (loss) on foreign exchange, net Beban lain-lain, neto (535.624.381) 2e,2n,2q,10,27 (1.915.594.785) Other expenses, net

LABA SEBELUM PAJAK PENGHASILAN 33.529.940.903 87.999.375.266 INCOME BEFORE INCOME TAX

BEBAN PAJAK PENGHASILAN 2t,15 INCOME TAX EXPENSE

Kini 11.801.695.122 16.856.642.510 Current

Tangguhan 2.147.855.452 37 4.501.784.264 Deferred 13.949.550.574 21.358.426.774

LABA PERIODE BERJALAN 19.580.390.329 66.640.948.492 PROFIT FOR THE PERIOD

PENDAPATAN KOMPREHENSIF LAINNYA OTHER COMPREHENSIVE INCOME

Exchange different due to financial statements Selisih kurs karena penjabaran laporan keuangan (27.892.234.152) 1g,1h, 37 1.515.359.602 translation

JUMLAH LABA (RUGI) KOMPREHENSIF PERIODE TOTAL COMPREHENSIVE INCOME (LOSS)

BERJALAN (8.311.843.823) 68.156.308.094 FOR THE PERIOD

Laba (rugi) periode berjalan yang dapat

diatribusikan kepada: Profit (loss) for the period attributable to:

Pemilik entitas induk 19.756.003.248 66.161.863.783 Owners of the Parent Kepentingan nonpengendali (175.612.919) 2b,20, 37 479.084.709 Non-controlling interests

19.580.390.329 66.640.948.492

Jumlah laba (rugi) komprehensif periode berjalan Total comprehensive income (loss) for the

yang dapat diatribusikan kepada: period attributable to:

Pemilik entitas induk (7.690.160.421) 67.650.275.516 Owners of the Parent Kepentingan nonpengendali (621.683.402) 506.032.578 Non-controlling interests

(8.311.843.823) 68.156.308.094

LABA PER SAHAM

Dasar dari laba periode berjalan EARNINGS PER SHARE

yang diatribusikan kepada Pemilik Basic from profit for the period

entitas induk 3,36 2u,30 11,25 attributable to Owners of the Parent

The accompanying notes to the interim consolidated financial statements form an integral part of these interim consolidated financial statements

taken as a whole. yang tidak terpisahkan dari laporan keuangan konsolidasian interim secara keseluruhan.

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Balance as of March 31, 2013 (As restated) 588.235.300.000 2.062.587.414.338 13.608.448.824 1.000.000.000 211.093.814.612 8.659.617.481 2.885.184.595.255 5.130.390.902 2.890.314.986.157 Saldo pada tanggal 1 Januari 2014 (Disajikan kembali/ Catatan 37)/

Balance as of January 1, 2014 (As restated/ Note 37) 588.235.300.000 2.062.587.414.338 13.608.448.824 2.000.000.000 185.225.922.439 82.191.902.336 2.933.848.987.937 6.401.973.458 2.940.250.961.395 Selisih kurs karena penjabaran laporan keuangan/

Exchange different due to financial statements translation 1g,1h - - - - - (27.446.163.669) (27.446.163.669) (446.070.483) (27.892.234.152) Laba (rugi) periode berjalan/ Profit (loss) for the period - - - - 19.756.003.248 - 19.756.003.248 (175.612.919) 19.580.390.329 Saldo pada tanggal 31 Maret 2014/ Balance as of March 31, 2014 588.235.300.000 2.062.587.414.338 13.608.448.824 2.000.000.000 204.981.925.687 54.745.738.667 2.926.158.827.516 5.780.290.056 2.931.939.117.572

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Penghasilan bunga 9.421.362.959 12.048.132.760 Interest received

Pembayaran beban bunga dan keuangan lainnya (13.781.131.964) (612.608.048) Payments of interest and other financial charges

Pembayaran pajak penghasilan badan (2.898.100.932) (13.564.837.096) Payments of corporate income tax

Kas Neto Diperoleh dari (Digunakan untuk)

Aktivitas Operasi (140.668.974.310) 54.444.359.405 Net Cash Provided by (Used in) Operating Activities

ARUS KAS DARI AKTIVITAS INVESTASI CASH FLOWS FROM INVESTING ACTIVITIES

Penjualan aset tetap 141.500.000 - Proceeds from sale of property and equipment

Perolehan aset tetap (5.378.331.273) (32.015.688.485) Acquisition of property and equipment

Pembayaran tambang dalam pengembangan 10 (1.572.070.698) (9.321.727.652) Payments of mines under construction Pembayaran uang muka ganti rugi lahan (3.566.800.000) (24.816.958.501) Payments of advances for land compensation Penerimaan dari piutang lain-lain - pihak ketiga 290.053.300 - Receipts from other receivables - third party

Payments of advances for purchases of property and Pembayaran uang muka pembelian aset tetap (30.660.685) (263.101.341) equipment

Perubahan dalam aset tidak lancar lain-lain (582.985.922) (95.352.808) Change in of other non-current assets Perubahan dalam dana yang dibatasi pencairannya (5.727.034.089) (5.280.452.649) Change in restricted fund

Kas Neto Digunakan untuk Aktivitas Investasi (16.426.329.367) (71.793.281.436) Net Cash Used in Investing Activities

ARUS KAS DARI AKTIVITAS PENDANAAN CASH FLOWS FROM FINANCING ACTIVITIES

Penerimaan utang bank 13 53.737.426.608 - Proceeds from bank loans Pembayaran utang bank 13 (55.851.869.958) - Payments of bank loan Pembayaran dividen - (148.750) Payment of dividends

Kas Neto Digunakan untuk Aktivitas Pendanaan (2.114.443.350) (148.750) Net Cash Used in Financing Activities

PENURUNAN NETO KAS DAN SETARA KAS (159.209.747.027) (17.349.070.781) NET DECREASE IN CASH AND CASH EQUVALENTS CASH AND CASH EQUIVALENTS

KAS DAN SETARA KAS AWAL PERIODE 5 780.999.288.709 951.348.181.514 AT THE BEGINNING OF THE PERIOD CASH AND CASH EQUIVALENTS

KAS DAN SETARA KAS AKHIR PERIODE 5 621.789.541.682 933.999.110.733 AT THE END OF THE PERIOD

secara keseluruhan.

yang tidak terpisahkan dari laporan keuangan konsolidasian interim statements form an integral part of these interim consolidated financial statements taken as a whole. The accompanying notes to the interim consolidated financial Catatan atas laporan keuangan konsolidasian interim terlampir merupakan bagian

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PT Golden Energy Mines Tbk (Perusahaan) didirikan dengan nama PT Bumi Kencana Eka Sakti berdasarkan Akta No. 81 tanggal 13 Maret 1997 yang dibuat dihadapan Imam Santoso, S.H., notaris di Jakarta. Akta pendirian telah disahkan oleh Menteri Kehakiman Republik Indonesia (sekarang Menteri Hukum dan Hak Asasi Manusia Republik Indonesia) dalam Surat Keputusan

No. C2-7.922HT.01.01.TH.98 tanggal

30 Juni 1998 serta diumumkan dalam Berita Negara Republik Indonesia No. 30 tanggal 12 April 2002, Tambahan No. 3667.

PT Golden Energy Mines Tbk (the Company) was established under the name of PT Bumi Kencana Eka Sakti based on Notarial Deed No. 81 dated March 13, 1997 of Imam Santoso, S.H., public notary in Jakarta. The Deed of Establishment was approved by the Ministry of Justice of the Republic of Indonesia (currently the Ministry of Law and Human Rights of the Republic of Indonesia) in its Decision Letter

No. C2-7.922HT.01.01.TH.98 dated

June 30, 1998 and was published in the State Gazette of the Republic of Indonesia No. 30 dated April 12, 2002, Supplement No. 3667.

Anggaran Dasar Perusahaan telah

mengalami beberapa kali perubahan,

terakhir dengan Akta No. 10 tanggal 3 Februari 2012 dari Linda Herawati, S.H., notaris di Jakarta, untuk disesuaikan dengan Peraturan Bapepam-LK No. IX.J.1 tanggal

14 Mei 2008 tentang pokok-pokok

Anggaran Dasar Perseroan yang melakukan Penawaran Umum Efek. Akta perubahan ini telah disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU-08684.AH.01.02. Tahun 2012 tanggal 20 Februari 2012.

The Company’s Articles of Association have been amended several times, most recently by Notarial Deed No. 10 dated February 3, 2012 of Linda Herawati, S.H., public notary in Jakarta, to be in accordance with Bapepam - LK regulation

No. IX.J.1 dated May 14, 2008

regarding Articles of Association of

the Companies Conducting Public Offering This Amendment was approved by the Ministry of Law and Human Rights of the Republic of Indonesia in its Decision Letter No. AHU-08684.AH.01.02. Tahun 2012 dated February 20, 2012.

Saat ini Perusahaan bergerak dalam bidang pertambangan melalui penyertaan pada entitas anaknya dan perdagangan batubara

serta perdagangan produk pertanian.

Perusahaan memulai kegiatan komersialnya

pada tahun 2010. Pada tanggal

4 Februari 2011, berdasarkan Keputusan

Menteri Energi dan Sumber Daya

Mineral No.206.K./30/DJB/2011,Perusahaan memperoleh Izin Usaha Pertambangan

Operasi Produksi Khusus untuk

Pengangkutan dan Penjualan Batubara untuk jangka waktu 3 (tiga) tahun dan berdasarkan Keputusan Menteri Energi dan Sumber Daya Mineral No.358.K/30/DJB/ 2014 tertanggal 7 April 2014, jangka waktu tersebut diperpanjang selama 3 (tiga) tahun. Perusahaan berkedudukan di Sinar Mas

Land Plaza, Menara II, Lantai 6,

Jl. M.H. Thamrin Kav. 51, Jakarta 10350.

Currently, the Company is engaged in coal mining through its subsidiaries and in coal and agriculture trading. The Company started its commercial operations in 2010. On February 4, 2011, based on the Decision of the Ministry of Energy and Mineral Resource No. 206.K./30/DJB/2011, the Company obtained Particular License

of IUP Operation Production for

Transportation and Trade of Coal which is valid for 3 (three) years and based on the Decision of the Ministry of Energy and Mineral Resource No. 358.K/30/DJB/2014 dated April 7, 2014, the period has been

extended for 3 (three) years. The

Company’s main office is located at Sinar Mas Land Plaza, Tower II, 6th Floor, Jl. M.H. Thamrin Kav. 51, Jakarta 10350.

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b. Penawaran Umum Efek Perusahaan b. Public Offering of Shares Pada tanggal 9 November 2011, Perusahaan

memperoleh pernyataan efektif dari

Ketua Badan Pengawas Pasar Modal dan Lembaga Keuangan (Bapepam-LK) dengan Surat No. S-12171/BL/2011 untuk

melakukan penawaran umum saham

perdana sebanyak 882.353.000 saham

seharga Rp2.500 per saham kepada

masyarakat. Pada tanggal 17 November

2011 seluruh saham tersebut telah

dicatatkan pada Bursa Efek Indonesia.

On November 9, 2011, the Company obtained the Notice of Effectivity from the Chairman of the Capital Market and Financial Institutions Supervisory Agency (Bapepam-LK) in his Letter No. S-12171/ BL/2011 for its offering to the public of 882,353,000 shares at Rp2,500 per share. On November 17, 2011 all of these shares were listed in the Indonesia Stock Exchange.

Pada tanggal 31 Maret 2014, seluruh saham Perusahaan sejumlah 5.882.353.000 saham telah tercatat di Bursa Efek Indonesia.

As of March 31, 2014, all of the Company’s shares totaling 5,882,353,000 shares were listed in the Indonesia Stock Exchange.

c. Entitas-entitas Anak yang Dikonsolidasikan c. Consolidated Subsidiaries

Entitas-entitas anak yang dimilki perusahaan secara langsung maupun tidak langsung, adalah sebagai berikut:

The Company’s subsidiaries, owned

directly or indirectly, are as follows:

Jumlah Aset (Sebelum Eliminasi) Total Assets (Before Elimination) Tahun Operasi

Komersial/ Kepemilikan Efektif/

Start of Effective Ownership 31 Maret/ 31 Desember/

Domisili/ Jenis Usaha/ Commercial Interest March 31, December 31,

Domicile Nature of Business Operations 2014 2013 2014 2013

% % Rp'000 Rp'000

Pemilikan langsung/Direct Ownership:

PT Roundhill Capital Indonesia (RCI) Jakarta Pusat/ Penyertaan saham dan 2014 99,016 99,016 1.228.883.075 1.177.598.629 Central Jakarta perdagangan besar/

Holding company and trading

PT Kuansing Inti Makmur (KIM) Muara Bungo, Pertambangan 2005 99,998 99,998 1.357.933.581 1.292.258.801

Kabupaten Bungo, batubara/

Jambi Coal mining

PT Trisula Kencana Sakti (TKS) Barito Utara, Pertambangan 2008 70,000 70,000 126.155.860 126.964.382

Kabupaten Barito batubara/

Utara, Coal mining

Kalimantan Tengah/ Central Kalimantan

GEMS Trading Resources Pte. Ltd.(GEMSTR) Singapura/ Singapore Perdagangan besar/ 2012 100,000 100,000 474.036.779 147.379.371 (dahulu/formerly GEMS Coal Resources Pte. Ltd.) Trading

PT Bumi Anugerah Semesta (BAS) Jakarta Pusat/ Perdagangan besar/ - 100,000 100,000 9.926.169 9.901.162

Central Jakarta Trading Entitas Anak/Subsidiary

Disajikan kembali (Catatan 37)/ As restated (Note 37)

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(lanjutan) Jumlah Aset (Sebelum Eliminasi) Total Assets (Before Elimination) Tahun Operasi

Komersial/ Kepemilikan Efektif/

Start of Effective Ownership 31 Maret/ 31 Desember/

Domisili/ Jenis Usaha/ Commercial Interest March 31, December 31,

Domicile Nature of Business Operations 2014 2013 2014 2013

% % Rp'000 Rp'000

Pemilikan tidak langsung/Indirect Ownership:

PT Borneo Indobara (BORNEO) Jakarta Pusat/ Pertambangan 2005 98,095 98,095 1.060.407.195 1.172.387.347

(melalui/through RCI) Central Jakarta batubara/

Coal mining

PT Karya Cemerlang Persada (KCP) Muara Bungo, Pertambangan 2011 99,998 99,998 402.848.657 319.460.928

(melalui/through KIM) Kabupaten Bungo, batubara/

Jambi Coal mining

PT Bungo Bara Utama (BBU) Muara Bungo, Pertambangan - 99,998 99,998 4.752.917 4.749.122

Jambi Coal mining

PT Bara Harmonis Batang Asam (BHBA) Muara Bungo, Pertambangan 2010 99,998 99,998 32.253.794 44.204.720

Jambi Coal mining

PT Berkat Nusantara Permai (BNP) Muara Bungo, Pertambangan - 99,998 99,998 219.891.182 220.686.676

Jambi Coal mining

PT Tanjung Belit Bara Utama (TBBU) Muara Bungo, Pertambangan - 99,998 99,998 324.981.846 323.668.620

Jambi Coal mining

Entitas Anak/Subsidiary

RCI RCI

Berdasarkan Keputusan Menteri Energi

dan Sumber Daya Mineral

No. 835.K/30/DJB/2012 tanggal

26 September 2012, RCI telah memperoleh Izin Usaha Pertambangan Operasi Khusus

Untuk Pengangkutan dan Penjualan

Batubara untuk jangka waktu 5 (lima) tahun.

Based on the Decision of the Ministry of

Energy and Mineral Resource

No. 835.K./30/DJB/2012 dated September 26, 2012, RCI obtained Particular License

of IUP Operation Production for

Transportation and Trade of Coal which is valid for 5 (five) years.

KIM KIM

KIM telah memperoleh izin pengusahaan pertambangan batubara sebagai berikut:

KIM has obtained the following coal mining licenses:

Luas Area/ No. Surat Keputusan/ Masa Berlaku/ No. Izin KP/Licenses Daerah/Location Area Decision Letter No. Validity

Hektar/Hectare

1. IUP Operasi Produksi Kecamatan Jujuhan, 199 Keputusan Bupati Bungo/ 23 April 2010 s.d./up to dan Perubahan atas Kabupaten Bungo, Decision of Bupati Bungo 22 April 2020 IUP tersebut/ Provinsi/Province Jambi No. 251/DESDM Tahun 2010

Production Operations Jo. Keputusan Bupati Bungo/

and the Change of the Jo. Decision of Bupati Bungo

IUP No. 166/DESDM Tahun 2012

2. IUP Operasi Produksi/ Kecamatan Jujuhan, Keputusan Bupati Bungo/ 23 April 2010 s.d./up to Production Operations Kabupaten Bungo, Decision of Bupati Bungo 22 April 2018

Provinsi/Province Jambi No. 252/DESDM Tahun 2010 199

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c. Entitas–entitas Anak yang Dikonsolidasikan (lanjutan)

c. Consolidated Subsidiaries (continued)

TKS TKS

TKS telah memperoleh izin pengusahaan pertambangan batubara sebagai berikut:

TKS has obtained the following coal mining licenses:

Luas Area/ No. Surat Keputusan/ Masa Berlaku/

No. Izin KP/Licenses Daerah/Location Area Decision Letter No. Validity

Hektar/Hectare

1. IUP Operasi Produksi/ Desa Malateken, 4.748 Keputusan Bupati Barito Utara/ 26 April 2010 s.d./up to

Production Operations Gandring, Panaen, Liang Buah, Decision of Bupati - North Barito 25 April 2026

Kecamatan Teweh Tengah/Central No. 188.45/207/2010

dan/and Teweh Timur/East , Kabupaten Barito Utara/North ,

Provinsi/Province Kalimantan Tengah/Central

2. IUP Operasi Produksi/ Desa Malateken 4.959 Keputusan Bupati Barito Utara/ 26 April 2010 s.d./up to

Production Operations Gandring dan/and Panaen, Decision of Bupati - North Barito 25 April 2028

Kecamatan Teweh Tengah/Central No. 188.45/208/2010

dan/and Teweh Timur/East , Kabupaten Barito Utara/ North ,

Provinsi/Province Kalimantan Tengah/Central

3. IUP Operasi Produksi/ Desa Saing, Patung, Gandrung, 1.748 Keputusan Bupati Barito Timur/ 14 Agustus/August 2009

Production Operations Kecamatan Dusun Tengah/Central Decision of Bupati - East Barito s.d./up to 14 Agustus/

dan/and Paku, No. 570 tahun/year 2009 August 2019

Kabupaten Barito Timur/East , Provinsi/Province Kalimantan Tengah/Central

GEMSTR GEMSTR

Pada tanggal 13 Juli 2012, telah didirikan GEMS Coal Resources Pte. Ltd. (GEMSCR) dengan modal ditempatkan dan disetor terdiri dari 100.000 saham dengan nilai nominal USD1 per lembar yang diambil seluruhnya oleh Perusahaan. GEMSCR berdomisili di

Singapura dan bergerak di bidang

perdagangan.

On July 13, 2012, GEMS Coal Resources

Pte. Ltd. (GEMSCR) with paid up and

issued capital of 100,000 shares with a nominal value of USD1 per share which is fully owned by the Company. GEMSCR was established in Singapore and is engaging in trading business.

Berdasarkan Keputusan Rapat Direksi

Perusahaan tanggal 25 Januari 2013, Direksi setuju untuk menambah modal ditempatkan dan disetor kepada GEMSCR sebesar USD4.900.000 sehingga modal ditempatkan dan disetor GEMSCR berubah menjadi USD5.000.000 terbagi sebanyak 5.000.000 lembar saham dengan nilai nominal USD1 per lembar saham dan seluruhnya dimiliki penuh oleh Perusahaan.

Based on Circular Resolution of the Board of Directors of the Company dated January 25, 2013, the Board of Directors agree to increase the paid up and issued

capital of GEMSCR amounting to

USD4,900,000 therefore the paid up and issued capital of GEMSCR increase to USD5,000,000 consisting of 5,000,000 shares with a nominal value of USD1 per share which is fully owned by the Company. Berdasarkan Keputusan Rapat Luar Biasa

Direksi GEMSCR tanggal 27 Januari 2014, nama perusahaan diubah menjadi GEMS Trading Resources Pte. Ltd., (GEMSTR).

Based on GEMSCR Director’s

Extraordinary General Meeting dated

January 27, 2014, the name of the Company were changed to GEMS Trading Resources Pte. Ltd., (GEMSTR).

(16)

(lanjutan)

BAS BAS

BAS didirikan berdasarkan Akta No. 70 tanggal 24 Juli 2013 dari Deni Thanur, S.E., S.H., M.Kn., notaris di Jakarta. Akta

pendirian ini disahkan oleh Menteri

Hukum dan Hak Asasi Manusia Republik

Indonesia dalam Surat Keputusan

No. AHU-42235.AH.01.01.Tahun 2013

tanggal 2 Agustus 2013.

BAS was established based on Deed No. 70 dated July 24, 2013 of Deni Thanur, S.E., S.H., M.Kn., a public notary in Jakarta. The Deed of Establishment was

approved by the Ministry of Law

and Human Rights of the Republic of

Indonesia in its Decision Letter

No. AHU-42235.AH.01.01 Tahun 2013 dated August 2, 2013.

Modal dasar BAS sebesar

Rp40.000.000.000 terbagi atas 40.000

saham dengan nilai nominal Rp1.000.000. Modal ditempatkan dan disetor sebesar Rp10.000.000.000 terdiri atas 10.000 saham yang dimiliki oleh Perusahaan sebanyak 9.990 saham dan sisanya dimiliki oleh KIM, entitas anak.

BAS’s authorized capital amounting to Rp40,000,000,000 consisting of 40,000

shares with a nominal value of

Rp1,000,000. Issued and paid up capital amounting to Rp10,000,000,000 consisting of 10,000 shares wherein 9,990 shares were owned by the Company and the remaining owned by KIM, a subsidiary.

BORNEO BORNEO

BORNEO memperoleh izin Pengusahaan

Pertambangan Batubara dari

instansi-instansi berikut:

BORNEO has obtained from the following licenses to conduct coal mining activities:

• Pemerintah Republik Indonesia diwakili

oleh PT Tambang Batubara Bukit

Asam (Persero) (PTBA) dalam

Perjanjian Kerjasama Pengusahaan

Pertambangan Batubara (PKP2B)

No. 007/PK/PTBA-BI/1994 tanggal

15 Agustus 1994. Berdasarkan

perubahan PKP2B antara PTBA dan BORNEO tanggal 27 Juni 1997, efektif sejak tanggal 1 Juli 1997 semua hak dan kewajiban PTBA dalam PKP2B beralih kepada Pemerintah Republik Indonesia yang diwakili oleh Menteri Pertambangan dan Energi (sekarang Menteri Energi dan Sumber Daya Mineral).

• The Government of the Republic

of Indonesia as represented

by PT Tambang Batubara Bukit Asam (Persero) (PTBA) in Coal

Contract of Work (CCoW)

No. 007/PK/PTBA-BI/1994 dated

August 15, 1994. Based on the changes in CCoW between PTBA and BORNEO dated June 27, 1997, effective July 1, 1997, all of the PTBA rights and obligations in CCoW have

been transferred back to the

Government of the Republic of Indonesia which was represented by

Ministry of Mining and Energy

(currently the Ministry of Energy and Mineral Resources).

• Menteri Energi dan Sumber Daya

Mineral No. 10.K/40.00/DJB/2006

tanggal 17 Februari 2006 tentang Permulaan Tahap Kegiatan Produksi Perjanjian Kerjasama Pengusahaan

• Ministry of Energy and Mineral

Resources in its Decision Letter

No. 10.K/40.00/DJB/2006 dated

February 17, 2006 which permits BORNEO concerning the beginning

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c. Entitas–entitas Anak yang Dikonsolidasikan (lanjutan)

KCP KCP

KCP telah memperoleh izin pengusahaan pertambangan batubara sebagai berikut:

KCP has obtained the following coal mining license:

Hektar/Hectare

1. IUP Operasi Produksi/ Dusun Tanjung Belit, 143 Keputusan Bupati Bungo/ 22 Juli/July 2009 s.d/up to

Production Operations Kecamatan Jujuhan, Decision of Bupati Bungo 21 Juli/July 2019

Kabupaten Bungo, No. 350/DESDM/Tahun 2009

Provinsi/Province Jambi

BBU BBU

BBU telah memperoleh izin pengusahaan pertambangan batubara sebagai berikut:

BBU has obtained the following coal mining licenses:

Hektar/Hectare

1. IUP Operasi Produksi/ Dusun Tanjung Belit, 199 Keputusan Bupati Bungo/ 23 April 2010 s.d./up to

Production Operations Kecamatan Jujuhan, Decision of Bupati Bungo 22 April 2018

2. IUP Operasi Produksi/ Dusun Tanjung Belit, 1.301 Keputusan Bupati Bungo/ 9 Juli/July 2009 s.d./up to

Production Operations Kecamatan Jujuhan, Decision of Bupati Bungo 8 Juli/July 2029

BHBA BHBA

BHBA telah memperoleh izin pengusahaan pertambangan batubara sebagai berikut:

BHBA has obtained the following coal mining license:

Hektar/Hectare

(18)

(lanjutan)

BNP BNP

BNP telah memperoleh izin pengusahaan pertambangan batubara sebagai berikut:

BNP has obtained the following coal mining license:

Hektar/Hectare

1. IUP Operasi Produksi/ Dusun Tanjung Belit, 199 Keputusan Bupati Bungo/ Desember/December 2010

Production Operations Kecamatan Jujuhan, Decision of Bupati Bungo s.d./up to Oktober/October 2019

TBBU TBBU

TBBU telah memperoleh izin pengusahaan pertambangan batubara sebagai berikut:

TBBU has obtained the following coal mining license:

Hektar/Hectare

d. Area Eksplorasi dan Eksploitasi d. Exploration and Exploitation Area

Grup memiliki area eksplorasi maupun eksploitasi/pengembangan sebagai berikut (tidak diaudit):

The details of the Group’s exploration and

exploitation/development area are as

follows (unaudited): Jumlah Aset Pertambangan

untuk Tambang dalam Jumlah Cadangan Jumlah Produksi untuk

Pengembangan dan pada Terbukti dan Terduga Periode Tiga Bulan Jumlah Cadangan Tahap Produksi pada pada Tanggal yang Berakhir Terbukti dan Terduga Tanggal 31 Maret 2014/ 31 Desember 2013***)/ 31 Maret 2014 ***)/ pada Tanggal Total Mine Properties for Total Proven and Total Production 31 Maret 2014***)/ Mines under Construction Probable Reserves for The Three-Months Total Proven and

Nama Lokasi/ and Producing Mines as of Period Ended Probable Reserves as of

Location as of March 31, 2014 December 31, 2013***) March 31, 2014 ***) March 31, 2014***)

Jutaan ton/ Jutaan ton/ Jutaan ton/

Million Tons Million Tons Million Tons

Blok/Block Batulaki **)*****) 1.920.226.275 9,26 0,32 8,94

Blok/Block Sebamban **)*****) 25.148.181.715 13,46 0,04 13,42

Blok/Block Kusan dan/and Girimulya **) *****) 167.035.569.964 548,67 0,60 548,07

Blok/Block - I Muara Bungo

-Blok/Block - II Muara Bungo *) 49.449.545.350 Blok/Block - Muara Bungo **) 7.205.763.654 Blok/Block

Blok/Block - Muara Bungo *) 18.169.106.663 40,43 0,49 39,94

Blok/Block - Muara Bungo *) 2.370.205.280 Blok/Block - Muara Bungo *) 502.714.512

Blok/Block Muara Teweh **)******) 61.671.454.613 4,47 - 4,47 Blok/Block Ampah ****) 5.549.201.576 0,40 - 0,40

339.021.969.602

616,69 1,45 615,24

Catatan/Notes :

*) Tambang dalam Pengembangan/ Mines under Construction

**) Sebagian merupakan Aset Pertambangan-Tambang dalam Pengembangan/Part is included in Mine properties-Mines under Construction

***) Tidak diaudit/Unaudited TBBU BBU BNP TKS Jumlah/Total Pemilik/ License Owner BORNEO KIM KCP Blok/Block KIM

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e. Cadangan Batubara e. Coal Reserves

Jumlah cadangan batubara yang dimiliki oleh Grup pada tanggal 31 Maret 2014 adalah sebagai berikut (tidak diaudit):

The details of coal reserves owned by the Group as of March 31, 2014, are as follows (unaudited):

Terbukti/Proven Terduga/Probable Jumlah/Total

Jutaan Ton/ Jutaan Ton/ Jutaan Ton/

Million Tons Million Tons Million Tons

Blok/Block Kusan dan/and Girimulya 230,78 317,29 548,07 *)

Blok/Block KIM 32,10 7,84 39,94 *)

Blok/Block Sebamban 6,69 6,73 13,42 *)

Blok/Block Batulaki 6,21 2,73 8,94 *)

275,78

334,59 610,37

Blok/Block Muara Teweh - 4,47 4,47 **)

Blok/Block Ampah - 0,40 0,40 ***) Jumlah/Total 275,78 339,46 615,24 Catatan/Notes : *) **) ***)

Based on Independent Technical Study Report from PT Danmar Explorindo, an independent party, as of September 2013, and after considering coal production up to March 2014 (if any)

Based on internal data after considering coal sales which were produced from the Group reserves during 2014 (if any)

Cadangan batubara/Coal Reserves Lokasi/Location

Based on JORC Reserve Statement from PT SMG Consultants, an independent party, as of July 2013, and after considering coal production up to March 2014 (if any)

Berdasarkan JORC Reserve Statement dari PT SMG Consultants, pihak independen, per Juli 2013, dan setelah memperhitungkan produksi batubara sampai dengan Maret 2014 (jika ada)/

Berdasarkan Laporan Independent Technical Study dari PT Danmar Explorindo, pihak independen, per September 2013, dan setelah memperhitungkan produksi batubara sampai dengan Maret 2014 (jika ada)/

Berdasarkan data internal setelah memperhitungkan penjualan batubara yang diproduksi dari cadangan batubara Grup selama periode 2014 (jika ada)/

Jumlah produksi batubara Grup sebagai berikut (tidak diaudit):

Total Group’s coal productions are as follows (unaudited):

Periode tiga bulan Tahun yang berakhir berakhir pada tanggal pada tanggal

31 Maret/Three-month 31 Desember/

period ended March 31, Year ended

2014 December 31, 2013 Ton/Tons Ton/Tons BORNEO 964.967 4.044.806 KIM 489.972 1.310.744 Jumlah/Total 1.454.939 5.355.550 Blok/Block

Akumulasi jumlah produksi batubara Grup sejak awal kegiatan eksploitasi sampai dengan tanggal 31 Maret 2014 sebesar 22,4 juta ton.

Accumulated total Group coal production since the beginning of exploitation activity until March 31, 2014 amounting to 22.4 million tons.

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f. Dewan Komisaris, Direksi, dan Karyawan f. Board of Commissioners, Directors, and Employees

Pada tanggal 31 Maret 2014 dan 31 Desember 2013, susunan Dewan Komisaris dan Direksi Perusahaan berdasarkan Akta Pernyataan Keputusan Rapat No. 54 tanggal 16 Mei 2013 dari Linda Herawati, S.H., notaris di Jakarta adalah sebagai berikut:

As of March 31, 2014 and December 31, 2013, the members of the Company’s Board of Commissioners and Directors based on Deed of Stockholders’ Meeting No. 54 dated May 16, 2013 of Linda Herawati, S.H., public notary in Jakarta, are as follows:

Dewan Komisaris Board of Commissioners

Presiden Komisaris : Lay Krisnan Cahya : President Commissioner

Wakil Presiden Komisaris : Avinash Ramakant Shah : Vice President Commissioner

Komisaris : Wahyudi Harjoyuhianto Tandianza : Commissioner

Komisaris Independen : Ketut Sanjaya : Independent Commissioners

Haji Agus Tagor Bambang Setiawan

Direksi Directors

Presiden Direktur : Fuganto Widjaja : President Director

Wakil Presiden Direktur : Sulekera Lingadevaru Ravi : Vice President Director

Direktur : Bambang Heruawan Haliman : Directors

Kumar Krishnan Mochtar Suhadi

Direktur Tidak Terafiliasi : Indradjaja Lazuardi : Independent Director

Pada tanggal 31 Maret 2014 dan

31 Desember 2013, susunan Komite Audit Perusahaan adalah sebagai berikut:

As of March 31, 2014 and December 31, 2013, the members of the Company’s Audit Committee, are as follows:

2014 dan/ and 2013

Ketua : Ketut Sanjaya : Chairman

Anggota : Edwin Hidayat Abdullah : Members

H. Agus Tagor

Pada tanggal 31 Maret 2014 dan

31 Desember 2013, jumlah karyawan tetap Grup masing-masing 384 dan 391 karyawan (tidak diaudit). Pada tanggal 31 Maret 2014 dan 31 Desember 2013, jumlah karyawan tetap Perusahaan masing-masing 132 dan 142 karyawan (tidak diaudit).

As of March 31, 2014 and December 31, 2013, the Group has 384 and 391

permanent employees, respectively

(unaudited). As of March 31, 2014 and December 31, 2013, the Company has 132

and 142 permanent employees,

respectively (unaudited). Laporan keuangan konsolidasian PT Golden

Energy Mines Tbk dan entitas anaknya untuk

periode tiga bulan yang berakhir

31 Maret 2014 telah diselesaikan dan

diotorisasi untuk terbit oleh Direksi

Perusahaan pada tanggal 17 April 2014. Direksi Perusahaan yang menandatangani

The consolidated financial statements of PT Golden Energy Mines Tbk and its subsidiaries for the three-months period ended March 31, 2014 was completed and authorized for issue on April 17, 2014. The Company’s Directors who have signed the Directors’ statement are responsible for the

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g. Mata Uang Pelaporan g. Reporting Currency

Mata uang pelaporan dan fungsional Grup adalah Rupiah, kecuali untuk GEMSTR (dahulu GEMSCR) dan BORNEO dalam Dolar Amerika Serikat.

Mata uang pelaporan GEMSTR (dahulu GEMSCR) dan BORNEO, entitas anak,

adalah Dolar Amerika Serikat yang

diidentifikasi sebagai mata uang fungsional berdasarkan lingkungan ekonomi utama dimana entitas beroperasi.

The group reporting and functional currency is Rupiah, except for GEMSTR (formerly GEMSCR) and BORNEO which is in U.S. Dollar.

The reporting currency of GEMSTR

(formerly GEMSCR) and BORNEO,

subsidiaries, which is identified as

functional currency based on the primary economic environment where is operates.

h. Penjabaran dalam Mata Uang Penyajian h. Translation into Presentation Currency

Mata uang penyajian laporan keuangan konsolidasian Grup adalah Rupiah.

The presentation currency of the Group’s consolidated financial statements is in Rupiah.

Sehubungan dengan penyajian laporan

keuangan konsolidasian Grup, laporan

keuangan BORNEO dan GEMSTR (dahulu GEMSCR) dijabarkan dalam mata uang Rupiah dengan cara sebagai berikut:

In preparing consolidated financial

statements of the Group, BORNEO’s and GEMSTR’s (formerly GEMSCR) financial statements were translated to Rupiah currency based on the following:

• Aset dan liabilitias dijabarkan

menggunakan kurs penutup pada

tanggal pelaporan;

• Assets and liabilities were translated using the prevailing rates at reporting date;

• Penghasilan dan beban dijabarkan

menggunakan kurs tanggal transaksi; dan

• Income and expenses were translated

using the transaction date exchange rate; and

• Seluruh hasil dari selisih kurs diakui

dalam pendapatan komprehensif

lainnya.

• All exchange differences were

recognized in other comprehensive income.

Mutasi akun selisih kurs karena penjabaran laporan keuangan sebagai berikut:

Mutation for exchange different due to financial statements translation account are as follow:

31 Maret/ 31 Desember/

March 31, 2014 December 31, 2013

Saldo awal 82.191.902.336 7.171.205.748 Beginning balance

Efek penjabaran, neto (27.446.163.669) 75.020.696.588 Effect due to translation, net

Saldo akhir 54.745.738.667 82.191.902.336 Ending balance

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a. Dasar Penyajian Laporan Keuangan Konsolidasian

a. Basis of Presentation of Consolidated

Financial Statements

Laporan keuangan konsolidasian telah

disusun dan disajikan sesuai dengan

Standar Akuntansi Keuangan di Indonesia (“SAK”), yang mencakup Pernyataan dan Interpretasi yang dikeluarkan oleh Dewan Standar Akuntansi Keuangan Ikatan Akuntan Indonesia dan Peraturan BAPEPAM-LK

No. VIII.G.7 tentang “Penyajian dan

Pengungkapan Laporan Keuangan Emiten atau Perusahaan Publik”, yang terlampir dalam surat KEP-347/BL/2012 (BAPEPAM-LK No. VIII.G.7).

The consolidated financial statements have

been prepared and presented in

accordance with Indonesian Financial

Accounting Standards (“SAK”), which

comprise the Statements and

Interpretations issued by the Board of Financial Accounting Standards of the Indonesian Institute of Accountants and BAPEPAM-LK Regulation No. VIII.G.7 regarding “Presentation and Disclosure of Financial Statements of Issuer or Public Companies”, as attached in letter KEP-347/BL/2012 (BAPEPAM-LK No. VIII.G.7). Laporan keuangan konsolidasian disusun

berdasarkan konsep akrual, kecuali laporan arus kas konsolidasian , dan menggunakan konsep biaya historis, kecuali seperti yang disebutkan dalam catatan atas laporan

keuangan konsolidasian yang relevan.

laporan arus kas konsolidasian disajikan dengan menggunakan metode langsung (direct method), menyajikan penerimaan dan pengeluaran kas dan setara kas yang dikelompokkan dalam aktivitas operasi, investasi dan pendanaan.

The consolidated financial statements have been prepared on the accrual basis, except for the consolidated statements of cash flows, and using the historical cost concept of accounting, except as disclosed in the relevant notes herein. The consolidated statements of cash flows presented using the direct method by classifying the receipts and disbursements of cash and cash equivalents into operating, investing and financing activities.

Laporan keuangan GEMSTR (dahulu

GEMSCR), entitas anak di Singapura, telah

disusun dan disajikan sesuai dengan

Singapore Financial Reporting Standards (“SFRS”). Tidak ada rekonsiliasi antara SFRS dan SAK karena tidak ada perbedaan antara SFRS dan SAK yang diterapkan dalam penyusunan dan penyajian laporan keuangan GEMSTR (dahulu GEMSCR).

The financial statements of GEMSTR (formerly GEMSCR), a subsidiary in

Singapore, has been prepared and

presented in accordance with Singapore Financial Reporting Standards (“SFRS”). There is no reconciliation between SFRS and SAK as there is no difference between SFRS and SAK applied for the preparation and presentation of GEMSTR’s (formerly GEMSCR) financial statements.

b. Prinsip Konsolidasi dan Kombinasi Bisnis b. Principles of Consolidation and

Business Combination

Prinsip Konsolidasi Principles of Consolidation

Grup menerapkan secara retrospektif

PSAK 4 (Revisi 2009), “Laporan Keuangan

Konsolidasian dan Laporan Keuangan

Tersendiri”, kecuali beberapa hal berikut yang diterapkan secara prospektif:

(i) rugi entitas anak yang menyebabkan

Group retrospectively adopted PSAK 4

(Revised 2009), “Consolidated and

Separate Financial Statements”, except for the following items that were applied prospectively:

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Keuangan Penting (lanjutan) Financial Reporting Policies (continued) b. Prinsip Konsolidasi dan Kombinasi Bisnis

(lanjutan)

b. Principles of Consolidation and

Business Combination (continued)

Prinsip Konsolidasi (lanjutan) Principles of Consolidation (continued)

(iii) perubahan kepemilikan pada entitas

anak yang tidak mengakibatkan

hilangnya pengendalian;

(iv) hak suara potensial dalam menentukan keberadaan pengendalian; dan

(v) konsolidasi atas entitas anak yang memiliki pembatasan jangka panjang.

(iii) change in the ownership interest in a subsidiary that does not result in a loss of control;

(iv) potential voting rights in determining the existence of control; and

(v) consolidation of a subsidiary that is subject to long-term restriction. PSAK No. 4 (Revisi 2009) mengatur

penyusunan dan penyajian laporan

keuangan konsolidasian untuk sekelompok entitas yang berada dalam pengendalian suatu entitas induk, dan akuntansi untuk investasi pada entitas anak, pengendalian bersama entitas dan entitas asosiasi ketika

laporan keuangan tersendiri disajikan

sebagai informasi tambahan.

PSAK No. 4 (Revised 2009) provides for

the preparation and presentation of

consolidated financial statements for a group of entities under the control of a parent, and the accounting for investments in subsidiaries, jointly controlled entities and associated entities when separate financial statements are presented as additional information.

Laporan keuangan konsolidasian meliputi laporan keuangan Perusahaan dan entitas-entitas anaknya seperti yang disebutkan pada Catatan 1c, yang dimiliki oleh Perusahaan (secara langsung atau tidak langsung) dengan kepemilikan saham lebih dari 50% dan dikendalikan oleh Perusahaan.

The consolidated financial statements include the accounts of the Company and its subsidiaries mentioned in Note 1c, in which the Company maintains (directly or indirectly) equity ownership of more than 50% and is controlled by the Company.

Seluruh transaksi material dan saldo akun antar perusahaan (termasuk laba atau rugi yang signifikan yang belum direalisasi) telah dieliminasi.

All material intercompany transactions and account balances (including the related significant unrealized gains or losses) have been eliminated.

Entitas-entitas Anak dikonsolidasi secara penuh sejak tanggal akuisisi, yaitu tanggal Grup memperoleh pengendalian, sampai dengan tanggal entitas induk kehilangan pengendalian.

Subsidiaries are fully consolidated from the date of acquisitions, being the date on which the Group obtains control, and continue to be consolidated until the date such control ceases.

Kerugian entitas anak yang tidak dimiliki secara penuh diatribusikan pada KNP bahkan jika hal ini mengakibatkan KNP mempunyai saldo defisit.

Losses of a non-wholly owned subsidiary are attributed to the NCI even if that results in a deficit balance.

Jika kehilangan pengendalian atas suatu entitas anak, maka Grup:

In case of loss of control over a subsidiary, the Group:

• menghentikan pengakuan aset

(termasuk goodwill) dan liabilitas entitas anak;

• menghentikan pengakuan jumlah tercatat

setiap KNP;

• menghentikan pengakuan akumulasi

selisih penjabaran, yang dicatat di ekuitas, bila ada;

• derecognizes the assets (including

goodwill) and liabilities of the subsidiary;

• derecognizes the carrying amount of

any NCI;

• derecognizes the cumulative translation

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b. Prinsip Konsolidasi dan Kombinasi Bisnis (lanjutan)

Prinsip Konsolidasi (lanjutan) Principles of Consolidation (continued)

• menghentikan pengakuan aset

(termasuk goodwill) dan liabilitas entitas anak;

• menghentikan pengakuan jumlah tercatat

setiap KNP;

• menghentikan pengakuan akumulasi

selisih penjabaran, yang dicatat di ekuitas, bila ada;

• mengakui nilai wajar pembayaran yang

diterima;

• mengakui setiap sisa investasi pada nilai

wajarnya;

• mengakui setiap perbedaan yang

dihasilkan sebagai keuntungan atau kerugian dalam laporan laba rugi; dan

• mereklasifikasi bagian induk atas

komponen yang sebelumnya diakui

sebagai pendapatan komprehensif

lainnya ke laporan laba rugi, atau mengalihkan secara langsung ke saldo laba, sebagaimana mestinya.

• derecognizes the assets (including

goodwill) and liabilities of the subsidiary;

• derecognizes the carrying amount of

any NCI;

• derecognizes the cumulative translation

differences, recorded in equity, if any;

• recognizes the fair value of the

consideration received;

• recognizes the fair value of any

investment retained;

• recognizes any surplus or deficit in profit

or loss; and

• reclassifies the parent’s share of

components previously recognized in other comprehensive income to profit or

loss or retained earnings, as

appropriate.

KNP mencerminkan bagian atas laba atau rugi dan aset neto dari entitas-entitas anak yang tidak dapat diatribusikan secara langsung maupun tidak langsung pada Perusahaan, yang masing-masing disajikan dalam laporan laba rugi komprehensif konsolidasian dan dalam ekuitas pada laporan posisi keuangan konsolidasian, terpisah dari bagian yang dapat diatribusikan kepada pemilik entitas induk.

NCI represent the portion of the profit or loss and net assets of the subsidiaries not attributable, directly or indirectly, to the Company, which are presented in the consolidated statement of comprehensive income and under the equity section of the consolidated statement of financial position,

respectively, separately from the

corresponding portion attributable to the equity holders of the parent company.

Kombinasi Bisnis Business Combinations

Grup menerapkan secara prospektif

PSAK 22 (Revisi 2010), “Kombinasi Bisnis”.

Group prospectively adopted PSAK 22 (Revised 2010), “Business Combinations”. Sesuai dengan ketentuan transisi dari

PSAK 22 (Revisi 2010), sejak tanggal 1 Januari 2011, Grup:

In accordance with the transitional provision of PSAK 22 (Revised 2010), starting January 1, 2011, the Group:

• menghentikan amortisasi goodwill

• mengeliminasi jumlah tercatat akumulasi

amortisasi goodwill terkait; dan

• melakukan uji penurunan nilai atas

goodwill sesuai dengan PSAK 48 (Revisi 2009), “Penurunan Nilai Aset”.

• ceased the goodwill amortization

• eliminated the carrying amount of the related accumulated amortization of goodwill; and

• performed an impairment test of

goodwill in accordance with PSAK 48

(25)

Keuangan Penting (lanjutan) Financial Reporting Policies (continued)

Kombinasi Bisnis (lanjutan) Business Combinations (continued)

Kombinasi bisnis dicatat dengan

menggunakan metode akuisisi. Biaya

perolehan dari sebuah akuisisi diukur berdasarkan nilai agregat imbalan yang dialihkan, diukur pada nilai wajar pada tanggal akuisisi dan jumlah setiap KNP pada pihak yang diakuisisi. Untuk setiap kombinasi bisnis, pihak pengakuisisi mengukur KNP pada entitas yang diakuisisi baik pada nilai wajar ataupun pada proporsi kepemilikan KNP atas aset neto yang teridentifikasi dari entitas yang diakuisisi. Biaya-biaya akuisisi yang timbul dibebankan langsung dan

dimasukkan ke dalam beban-beban

administrasi.

Business combinations are accounted for using the acquisition method. The cost of

an acquisition is measured as the

aggregate of the consideration transferred, measured at acquisition date fair value and the amount of any NCI in the acquiree. For each business combination, the acquirer measures the NCI in the acquiree either at fair value or at the proportionate share of the acquiree’s identifiable net assets. Acquisition costs incurred are directly expensed and included in administrative expenses.

Ketika melakukan akuisisi atas sebuah

bisnis, Grup menentukan dan

mengklasifikasikan aset keuangan yang diperoleh dan liabilitas keuangan yang diambil alih berdasarkan pada persyaratan kontraktual, kondisi ekonomi dan kondisi terkait lain yang ada pada tanggal akuisisi.

When the Group acquires a business, it assesses and classifies the financial assets

acquired and liabilities assumed for

appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions as at the acquisition date.

Dalam suatu kombinasi bisnis yang

dilakukan secara bertahap, pihak

pengakuisisi mengukur kembali kepentingan ekuitas yang dimiliki sebelumnya pada pihak yang diakuisisi berdasarkan nilai wajar tanggal akuisisi dan mengakui keuntungan atau kerugian yang dihasilkan di dalam laporan laba rugi.

If the business combination is achieved in stages, the acquisition date fair value of the acquirer’s previously held equity interest in the acquiree is remeasured to fair value at the acquisition date through profit or loss.

Pada tanggal akuisisi, goodwill awalnya diukur berdasarkan harga perolehan yang merupakan selisih lebih nilai agregat imbalan yang dialihkan dan jumlah setiap KNP atas jumlah aset teridentifikasi yang diperoleh dan liabilitas yang diambil alih. Jika imbalan tersebut kurang dari nilai wajar aset neto entitas anak yang diakuisisi, selisih tersebut diakui di dalam laporan laba rugi.

At acquisition date, goodwill is initially measured at cost being the excess of the aggregate of the consideration transferred and the amount recognized for NCI over the

net identifiable assets acquired and

liabilities assumed. If this consideration is lower than the fair value of the net assets of the subsidiary acquired, the difference is recognized in profit or loss.

(26)

Kombinasi Bisnis (lanjutan) Business Combinations (continued)

Setelah pengakuan awal, goodwill diukur pada jumlah tercatat dikurangi akumulasi kerugian penurunan nilai. Untuk tujuan uji penurunan nilai, goodwill yang diperoleh dari suatu kombinasi bisnis, sejak tanggal akuisisi dialokasikan kepada setiap Unit Penghasil Kas (“UPK”) dari Grup yang diharapkan akan bermanfaat dari sinergi kombinasi tersebut, terlepas dari apakah aset atau liabilitas lain dari pihak yang diakuisisi dialokasikan kepada UPK tersebut.

After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a

business combination is, from the

acquisition date, allocated to each of the Group’s cash-generating units (“CGU”) that

are expected to benefit from the

combination, irrespective of whether other assets or liabilities of the acquiree are assigned to those CGUs.

Jika goodwill telah dialokasikan pada suatu UPK dan operasi tertentu atas UPK tersebut dilepas, maka goodwill yang terkait dengan operasi yang dilepas tersebut dimasukkan ke dalam jumlah tercatat operasi tersebut ketika menentukan keuntungan atau kerugian dari pelepasan. Goodwill yang dilepas tersebut diukur berdasarkan nilai relatif operasi yang dihentikan dan porsi UPK yang ditahan.

Where goodwill forms part of a CGU and part of the operation within that CGU is disposed of, the goodwill associated with the operation disposed of is included in the carrying amount of the operation when determining the gain or loss on disposal of the operation. Goodwill disposed of in this circumstance is measured based on the relative values of the operation disposed of and the portion of the CGU retained.

c. Kombinasi Bisnis Entitas Sepengendali c. Business Combination Among Entities

Under Common Control

Berdasarkan Peraturan Bapepam-LK

No. VIII.G.7, selisih nilai transaksi dengan entitas sepengendali yang merupakan selisih jumlah imbalan yang dialihkan atau diterima dengan nilai tercatat dari setiap transaksi kombinasi atau pelepasan bisnis antar entitas sepengendali dicatat sebagai bagian dari akun “Tambahan Modal Disetor”.

Based on Bapepam-LK Regulation

No. VIII.G.7, the difference in value arising from transaction among entities under common control which represents the

difference between the consideration

transferred or received and carrying amount of each business combination transaction or disposing business of entities under common control is recorded as part of “Additional Paid-in Capital” account.

Transaksi kombinasi bisnis entitas

sepengendali, berupa pengalihan bisnis yang dilakukan dalam rangka reorganisasi entitas-entitas yang berada dalam suatu Grup yang

sama, bukan merupakan perubahan

kepemilikan dalam arti substansi ekonomi, sehingga transaksi tersebut tidak dapat menimbulkan laba atau rugi bagi Grup secara keseluruhan ataupun bagi entitas individual dalam grup tersebut.

Business combination transaction of entities under common control in the form of business reorganization for entities under the same Group does not charge the ownership in the meaning of economic substance therefore such transaction does not result in a gain o loss to the Group as a whole or to the individual company within such Group.