PT Ciputra Development Tbk And Subsidiaries

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PT CIPUTRA DEVELOPMENT Tbk AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)For Nine Months Ended 30 September 2006 and 2005(In Rupiah)p. Foreign Currency Transactions and BalancesTransactions involving foreign currencies are recorded in Rupiah amounts at the rates of exchangeprevailing at the time the transactions are made. At balance sheet date, monetary assets and liabilitiesdenominated in foreign currencies are adjusted to Rupiah using the Bank Indonesia middle rate of exchangefor export bills prevailing at that date (30 September 2006: USD 1 = Rp 9,325 and 30 September 2005: USD1 = Rp 10,310).q. Transaction with Related partiesThe Company have transactions with related parties. Definition of related parties is in accordance with SFASNo. 7 concerning “Related Party Disclosure”.All transaction with related parties whether or not conducted at terms and conditions similar to those withthird parties are disclosed in the financial statements.r. Income TaxAll temporary differences arising between the tax bases of assets and liabilities and their carrying value forfinancial reporting purposes are recognized as deferred tax using liability method. Currently enacted taxrates are used to determine deferred income tax.Deferred tax assets relating to the fiscal losses carry forward are recognized to the extent that future taxableprofit will be available against it. Amendments to taxation obligations are recorded when an assessment isreceived or, if appealed against, when the results of the appeal are determined.Current tax is recognized based on taxable income for the year, in accordance with the current taxregulations.For revenues subject to final income tax, such as revenue of golf villa unit rental and shopping centersrental, no temporary difference between commercial and tax reporting purposes. If the carrying value ofassets and liabilities which related to the final income tax between commercial and tax reporting is different,it is not recognized as deferred tax assets or liabilities. Expense for tax purpose is recognized proportionallywith the income of the current period.s. Estimated Liabilities of Employee BenefitsShort-term employees’ benefits are recognized at undiscounted amounts when employees has renderedtheir service to the Company during an accounting period.Post employees’ benefits are recognized at measurable amounts using discount rate basis, when anemployee has rendered service to the Company during an accounting period. Liabilities and expenses aremeasured using actuarial techniques which include constructive obligation which arises from the Company’sinformal practices. In computing the liabilities, the benefits should be discounted by using projected unitcredit method.Termination benefits are recognized when, and only when, the Company has commitments to either:a. terminate an employee or group of employees before the normal retirement date; orb. provide termination benefits for employees who received offerings to have voluntary resignation.t. Use of EstimatesThe preparation of the consolidated financial statements is conformity with generally accepted accountingprinciples requires the Company and subsidiaries’ management to make estimates and assumptions thataffect the reported amounts of assets and liabilities at the date of the financial statements and the reportedamount of revenue and expenses during the reporting period. Actual results could be different from theseestimates.u. Segment InformationBusiness segment is reported as primary segment and geographical segment based on the location ofassets is reported as the secondary segment.13
PT CIPUTRA DEVELOPMENT Tbk AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)For Nine Months Ended 30 September 2006 and 2005(In Rupiah)v. Earning per ShareIncome from operation and net income per share are computed by dividing income from operation and netincome, respectively, with the weighted-average number of shares outstanding during the period,3,176,039,299 shares in 2006 and 1,612,500,000 shares in 2005.3. CASH AND CASH EQUIVALENTSThis account consists of:2006 2005Cash on hand - Rupiah 8,307,573,458 6,371,246,599Cash in BankRupiahPT Bank Central Asia Tbk 22,272,395,307 31,527,535,239PT Bank Mandiri (Persero) Tbk 10,602,895,556 10,841,577,522PT Bank NISP Tbk 7,914,778,325 6,479,805,709PT Bank Bukopin Tbk 7,821,199,939 9,333,338,318PT Bank Artha Niaga Kencana Tbk 6,976,947,828 5,064,162,300Citibank, N.A. - 10,361,253,508PT Bank Internasional Indonesia Tbk - 5,252,733,031PT Bank Danamon Indonesia Tbk - 5,232,232,929Others (each below Rp 5 billion) 21,018,571,752 12,699,072,819Sub-total 76,606,788,707 96,791,711,375US DollarOthers (each below USD 500,000)(2006: USD 289,245.03; 2005 USD 314,505.57) 2,671,177,809 3,242,552,427Total Cash in Banks 79,277,966,516 100,034,263,802Time DepositsRupiahPT Bank Internasional Indonesia Tbk 22.395.150.159 34,464,406,605PT Bank Niaga Tbk 18,628,922,692 10,425,000,000PT Bank NISP Tbk 13,284,833,896 8,679,896,145PT Bank Central Asia Tbk 10,000,000,000 -PT Bank Mayapada Tbk 8,500,000,000 5,000,000,000PT Bank Bukopin Tbk 7,500,000,000 24,300,000,000PT Bank Mega Tbk 6,000,000,000 14,533,598,751ABN Amro 5,000,000,000 -PT Bank Danamon Indonesia Tbk 2,581,575,000 10,625,000,000PT Bank Bumiputera Tbk 1,000,000,000 6,000,000,000PT Bank Permata Tbk - 17,444,045,505PT Bank Commonwealth - 5,000,000,000Others (each below Rp 5 billion) 5,500,000,000 6,000,000,000Sub-total 100,390,481,747 142,471,947,006US DollarMorgan Stanley Bank (USD 3,004,152.21) 27,743,364,129 -PT Bank Danamon Indonesia Tbk (USD 3,000,000) 27,705,000,000 -Union Bank of Switzerland (USD 2,216,635.9) 20,470,629,674 -Others (each below USD 500,000)(2006: USD 120,940.16; 2005: USD 454,033.02) 1,116,882,377 4,681,080,394Sub-total 77,035,876,180 4,681,080,394Total Time Deposits 177,426,357,927 147,153,027,400Bank Indonesia Certificates (SBI) 44,000,000,000 70,300,000,000Total 309,011,897,901 323,858,537,80114
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PT Ciputra Development Tbk And Subsidiaries

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