PT Summarecon Agung Tbk | Laporan Tahunan 2010 Annual Report

These consolidated financial statements are originally issued in Indonesian language.
PT SUMMARECON AGUNG Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2010 and 2009
(Expressed in thousands of rupiah, unless otherwise stated)
3. CASH AND CASH EQUIVALENTS (continued)
Time deposits (continued)
25
2010 2009
European euro
PT Bank Resona Perdania (Euro314,222
in 2010 and Euro313,531 in 2009) 3,756,767 4,235,804
PT ANZ Panin Bank
(Euro100,054) 1,196,226 -
Total time deposits 933,801,295 501,595,449
Total cash and cash equivalents 1,120,483,310 633,169,242
Annual interest rates of time deposits are as follows:
2010 2009
Rupiah 3.50% - 9.50% 5.00% - 14.50%
United States dollar 0.15% - 7.00% 0.20% - 4.75%
European euro 0.20% - 0.35% 0.35% - 3.30%
Cash on hand (including cash in transit) is covered by insurance against theft and other risks with
PT Asuransi Allianz Indonesia and PT Asuransi Indrapura, all third parties, with a coverage of
Rp39,300,000 and Rp36,705,000 in 2010 and 2009, respectively. The Company’s and Subsidiaries’
management are of the opinion that the coverage is adequate to cover possible losses arising from
such risks.
Certain bank accounts in PT Bank Central Asia Tbk (BCA) owned by the Company, SH, KSO
Summarecon Serpong and LMD are restricted to their use as these are maintained as escrow
accounts for the loans obtained from the same bank (Note 14). These are presented as part of Other
Assets (Note 13).
4. INVESTMENTS IN ASSOCIATED COMPANIES AND OTHERS
This account consists of the following:
Investments in associated companies
Losses in equity Carrying value
Percentage of of associated December 31,
Investee ownership (%) Cost companies 2010
PT Swaraeka Prasetia (SEP) 1) 25.33 7,600,000 (7,600,000) -
PT Maju Lestari Properti (MLP) 40.00 40,000 - 40,000
PT Sukmapersada Nusa (SPN) 2) 50.00 13,000 (13,000) -
Total 7,653,000 (7,613,000) 40,000
2010