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)
12. INVESTMENT PROPERTIES (continued)
Rental income from investment properties recognized in the consolidated statements of income
amounted to Rp510,243,612 and Rp469,459,111 in 2010 and 2009, respectively (Note 28).
Based on the Company’s and Subsidiaries’ assessment, there were no events or changes in
circumstances which indicated an impairment in the value of investment properties as of December 31,
2010 and 2009.
13. OTHER ASSETS
This account consists of:
36
2010 2009
Restricted time deposits
PT Bank Central Asia Tbk 40,299,407 24,983,962
PT Bank Permata Tbk 16,115,754 11,441,887
PT Bank OCBC NISP Tbk 9,701,906 13,604,285
PT ANZ Panin Bank
(US$1,000,000) (Note 38) 8,991,000 9,400,000
PT Bank Internasional Indonesia Tbk 8,535,250 4,659,299
PT Bank CIMB Niaga Tbk 7,662,413 11,146,373
PT Bank Pan Indonesia Tbk 3,751,757 1,680,291
PT Bank Mandiri (Persero) Tbk 2,260,580 2,204,596
PT Bank Negara Indonesia (Persero) Tbk 107,442 -
PT Bank Danamon Indonesia Tbk 8,400 -
Restricted cash in bank - PT Bank Central Asia Tbk 14,294,919 14,707,397
Deferred charges - landrights - net of
accumulated amortization of Rp1,434,747
in 2010 and Rp1,196,197 in 2009 4,062,698 4,376,897
Advances:
Investment 2,166,960 2,166,822
Purchase of fixed assets - 10,751,819
Others 410,192 444,893
Total other assets 118,368,678 111,568,521
The restricted time deposit in BCA is used as collateral for a loan in BCA and the interest payments on
the loans obtained from BCA (Note 14) and for the corporate guarantee provided to BCA by the
Company, BMS and SCK, on the housing and apartment loans obtained by customers of the
Company, BMS and KSO Summarecon Serpong (Note 37h).
The restricted time deposits in PT Bank OCBC NISP Tbk (OCBC), PT Bank CIMB Niaga Tbk (CIMB),
PT Bank Internasional Indonesia Tbk (BII), PT Bank Permata Tbk (Permata), PT Bank Pan Indonesia
Tbk (Panin), and PT Bank Mandiri (Persero) Tbk (Mandiri) are used as corporate guarantees provided
by the Company, BMS, GO and SCK to those banks on the housing loans obtained by the customers
of the Company, BMS, GO and KSO Summarecon Serpong (Note 37h).
BCA, OCBC, CIMB, BII, Permata, Panin and Mandiri agreed to grant housing and apartment loans to
the customers of the Company, BMS, GO and KSO Summarecon Serpong. The Company, BMS, GO,
and SCK (on behalf of KSO Summarecon Serpong) provide corporate guarantees on their customers’
loans from these banks until the Company, BMS, GO and KSO Summarecon Serpong have submitted
the buyers’ land and building certificates to these banks (Note 37i).